Businessmen

Estates more then £325,000

CLEAR & TRANSPARENT 

Our Charges

If the estate is valued at more then £325,000 a full Inheritance Tax Return will be required and our costs will be higher.

When an estate is more than £325,000 it can be difficult to estimate how much time we would expect to spend on your case, as often there are many complex issues that arise.

Accordingly, the legal costs will be set at  our standard rate of 1.65% of the value of the estate +VAT, normally taken at the conclusion of the matter at the time of the final distribution.

Disbursements

In addition to our charges, certain costs will be payable to third parties, which are called 'disbursements'.  

We handle the payment of the disbursements on your behalf to ensure a smoother process.

Examples of the common disbursements payable in connection with obtaining a Grant of Probate are:

  • Probate application fee of between £155 - £165

  • Swearing of the oath - £7 (per executor)

  • Bankruptcy searches (£3 per beneficiary)

  • Statutory Notices - £180 - £360 Post in The London Gazette and in a local newspaper – This helps to protect against unexpected claims from unknown creditors

 

We will handle the full process for you. This estimate is for estates where:

 

  • There are no claims made against the estate

We will

  • Provide you with a dedicated and experienced probate solicitor to work on your matter

  • Identify the legally appointed executors or administrators and beneficiaries

  • Advise you on your duties as an Executor and on all matters which will need to be completed to fully deal with the administration of the estate

  • Obtain details and valuations of all assets and liabilities in the estate

  • Collect in the assets of the estate

  • Settle any debts and liabilities of the estate

  • Prepare estate accounts

  • Accurately identify the type of Probate application you will require

  • Obtain the relevant documents required to make the application

  • Complete the Probate Application and the relevant HMRC forms

  • Draft a legal oath for you to swear

  • Make the application to the Probate Court on your behalf

  • Obtain the Probate and securely send two copies to you

  • Collect and distribute all assets in the estate

 

Potential additional costs

  • If there are assets that require specialist valuation, then this will incur additional cost;

  • If there are overseas assets;

  • If the estate involves complex tax issues then specialist tax advice will be required and additional costs will be incurred;

  • If there are Trusts to administer in the Will; and

  • Dealing with the sale or transfer of any property in the estate is not included.

 

How long will this take?

 

On average, estates that fall within this range are dealt with within 6-18 months.

Typically, obtaining the grant of probate takes 6-8 weeks. Collecting assets then follows, which can take between 3-4 weeks, (excluding dealing with the sale of any property). Once this has been done, we can distribute the assets, which normally takes 4-8 weeks.

Although in some circumstances we advise (in order to protect the executors against third party claims) that the estate assets are not distributed earlier than 10 months from the date of Grant of Probate.

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