It is our firm’s policy that we only deal with uncontested Probate and where assets are only in the UK and our quote is provided on this basis.
Wildings Solicitors can help those clients who require a Probate because of the passing of a loved one and we are also able to deal with the completion of any HMRC Tax Inheritance Forms as well as the payment of arranging Tax that is due to HMRC. We can collect the value or monies of the estate and distribute it accordingly in accordance to the wishes of the deceased in accordance to their Will and providing clear instructions that are given from the Executors.
COSTS OF SERVICE
The quotation that we provide at the start of any transaction is based on the value of the estate and what is required to obtain the Grant of Probate from the Probate Registry. The quote includes the completion of IHT Forms to deal with the estate of the deceased and our fee will be adjusted in accordance to the complexity and the level of work that is required of the estate and the way it will be distributed as per the Executors instructions, which must fall in line with the wishes of the Will.
If the estate is relatively straightforward and usually only involves obtaining a Grant of Probate and the value of the estate is below the IHT threshold which currently stands a £325,000 then our fee for this ranges between £700 to £1,8000 plus VAT (charged at 20%) and the fee is a fixed fee. If however the estate exceeds the IHT threshold and the deceased had various bank accounts and assets which would mean that further work will be required then a fee would be quoted accordingly or an hourly rate fee would be applied which is currently at £295 plus VAT (charged at 20%) to deal with obtaining the Grant of Probate and distribution of the estate should this be required. It is confirmed that this fee will be agreed at the outset before any file is opened.
The current timescales for obtaining a Grant of Probate from the Probate Registry is between 6-8 months and this is simply because of the backlogs that are currently pending at the Probate Registry. Furthermore, if the estate is extremely complicated and the deceased had many properties/assets as well as bank accounts the timescales can be significantly longer as we will need to obtain the relevant information from the various parties and organisations.
We can confirm that the following costs apply:-
- Legal fees of £700 to £1,800 + VAT (charged at 20%).
- Disbursements of the Probate Registry Fee which is currently at £300 including VAT.
- £1.50 for any extra certified copy of a Grant of Probate that is required from the Probate Registry and we usually ask for 4 totally to £6 including VAT.
- If there is any bankruptcy and land charges a search is required which currently costs £2 and £1 per beneficiary including VAT.
- Posting any Notices that may be required in the Law Society Gazette of the deceased’s death which currently costs approximately £100 plus VAT (charged at 20%)per Notice.
- The cost of any valuation fees which can currently range between approximately £300 to £700 + VAT (charge at 20%) which may be required by any Estate Agents or Chartered Surveyor to determine the value of any particular property.
WHAT DO OUR SERVICES INCLUDE?
We will ascertain from the start what you would like us to do, this would mean extraction of probate to allow the executors to distribute the estate or we will extract probate and also distribute the estate. Depending on the value of the estate we will also deal with inheritance tax that may be required. All of this will be determined at the very start before a file is opened and the correct procedure will be reflected in our client care letter.
Moving forward we will do the following:
- Obtain the death certificate
- Obtain the original Will if the deceased left one
- Amalgamate the deceased’s estate which may consist of bank statement, bonds, ISA etc. This will involve us writing to many institutions to ascertain the value of each account.
- We may need to instruct estate agents to value the property of the deceased and obtain a minimum of two valuations
- If required we may also need to publish notices with the Gazette and wait a for a period of six months
- If the estate is complicated and exceeds the IHT tax threshold we will see the services of a IHT advisor to provide us with a detailed breakdown of IHT that is payable
- We will complete the probate and IHT forms and ask you to attend our offices to review and sign the same
- We will submit payment to the probate registry with the required forms to obtain the grant of probate
- Once the probate registry is happy with our forms they will issue the grant of probate. We always ask for more than one copy, usually 4.
- We will then provide you with a copy of the grant of probate
- If required we will also distribute the estate of the deceased as required and in accordance to the terms of the will
- Upon completion of all the above we will then complete your file and store the same as required by our statutory requirements.
HOW LONG THE MATTER WILL TAKE
On average to obtain the Grant of Probate the timescales are between 4-6 months and this can be delayed further due to the current delays encompassed by the Probate Registry in issuing a Grant of Probate and furthermore, if the estate is complicated then we will need to wait on organisations to obtain the relevant information which can take significantly longer.
Subject to the complexity of the case and your instruction your matter will be dealt with either by a partner (8+ years qualification/experience) with the assistance of an available solicitor (2 years qualification/experience) or by a qualified solicitor assisted by a trainee solicitor.
