Estate & Probate

Sharing the burden after a death

When someone dies, an executor or administrator deals with their estate. This might mean anything from selling a house and distributing the proceeds to paying debts and inheritance tax. It may also be necessary to seek a Grant of Probate. When you’re also experiencing the emotional upheaval of bereavement this can seem complex and daunting.

As solicitors with experience of all aspects of probate and estate administration, we can remove the burden from you, completing the legalities and paperwork quickly and efficiently, taking care of everything on your behalf.

We will collect money owed, sell or transfer assets, deal with possessions, pay inheritance tax and distribute the remainder of the estate so everything is managed to the very highest professional standards. 

Some clients choose to name us in their will as an executor or joint executor. It is something we are happy to do to give added peace of mind.

 

Our Fixed Fee Probate Service  

Traditionally, solicitors have charged on a time basis according to hourly rates for the time spent dealing with the administration of an estate and in addition many also make a charge – known as the value element – based on a percentage of the value of the estate. Banks are known to charge significantly more - typically a flat fee of 4% of the gross value of the estate. There are also other non legal firms offering probate services and may appear cheaper than solicitors but we pride ourselves on our quality of service in this field and at a difficult time, it is important that you can rely on your advisers. Every single member of our team has extensive experience in dealing with administration of estates.

We are able to offer a fixed fee for our probate services. This will give you peace of mind knowing at the outset what our costs will be. Please also see our Probate Guide for further information on why a Grant is required and what the process involves.

Our Products

PROBATE SUPPORT

Where families and personal representatives wish to apply for a Grant and administer the estate themselves but need some guidance.

We would:

  • provide you with a Probate Guide
  • advice you generally of the probate process
  • provide guidance with completing and checking the IHT 205 and PA1
  • advice you of the validity of the will

£195 PLUS VAT

PROBATE ASSIST

 

We apply for the Grant by preparing and submitting the oath and IHT 205  to the probate registry on the basis that you provide us with the date of death values of all assets and liabilities relevant to the estate

 

For estates below the Inheritance Tax threshold or is an excepted estate*

£550 PLUS VAT

For estates above the Inheritance Tax threshold and is not an excepted estate*

£795 PLUS VAT

PROBATE PREMIUM

We will obtain values of assets and liabilities, prepare and submit the oath and IHT 205/400 to the probate registry, collect and distribute the estate, settle liabilities, finalise and obtain Inheritance tax and Income Tax clearance and prepare estate accounts to confirm the assets and liabilities of the estate.

Band A

Estate not exceeding £150,000

1.8% of the gross estate

(subject to a minimum of £750 plus vat)

Band B

Estate not exceeding £325,000

1.9% of the gross estate

Band C

Estate not exceeding £650,000

2.0% of the gross estate

Band D

Estate exceeding £650,000

Subject to negotiation

  • Reference to Grant includes Grant of Probate/Grant of Letters of Administration
  • The fixed fee charging options are not automatically available if any of the following circumstances apply:
    • The deceased made lifetime gifts exceeding the annual allowance of £3,000 within the past 15 years
    • The deceased owned assets which are or may be eligible for Agricultural or Business Property Relief
    • The deceased had an interest in assets held in a trust for his/her benefit
    • There are more than five legacies or specific gifts, or more than 5 residuary beneficiaries

In these circumstances, an additional 0.5% of the gross estate will be levied.

  • The fixed fees quoted above do not include disbursements such as Probate Registry fees/swear fees/accountants fees (if required)/lost share certificate fees/selling agents fees/advertising for unknown creditors/asset tracing fee
  • Property sales will incur additional fees and a separate quote can be given by the Property team.
  • ·         If an estate becomes complex, we may need to make an additional charge on a time basis. We advise clients as soon as it becomes clear if probate is complex and give a written estimate of further costs for approval before we proceed. Common reasons for an estate becoming complex include:
    • disputes between beneficiaries
    • disputes over property ownership
    • Inheritance Act claims being made against the estate
    • foreign assets
    • bankrupt or missing beneficiaries
    • HMRC and Department for Work and Pensions enquiries
  • *An excepted estate is one where
    • the value of the estate is under the Inheritance Tax threshold (£325,000 in 2013-14 tax year)
    • it's an exempt estate - the deceased has left everything to a spouse or civil partner living in the UK or to a 'qualifying' charity (and the estate is valued at under £1 million)
    • 100 per cent of the unused Inheritance Tax threshold from a late spouse or civil partner can be transferred to the deceased and the estate is valued at less than twice the Inheritance Tax threshold (£650,000 in 2013-14 tax year)
    • the deceased person was a ‘foreign domiciliary’ - they lived permanently abroad and died abroad and the value of their UK assets is under £150,000

Our doors are always open to you, whatever your problem… please feel free to come and talk to one of our specialists…

Our expert and friendly staff are waiting to help you – please give us a call.

Please choose your preferred way of contacting us online:

Send us an Email…

info@wosskowbrown.co.uk

Talk to us via social media…

Arrange a callback…

Preferred time of call

Submit an enquiry…

Comments

You’re in safe hands with Wosskow Brown…