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Drafting and Submitting Your Probate Application:
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Rather than us managing everything clients often want us to help in a more limited way. We act for many clients where we will only:
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Draft the Inheritance Tax account and Oath for Executors
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Submit the application to HM Revenue and Customs and / or the Probate Registry
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Secure the Grant of Probate by settling any Inheritance Tax that is due
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Once you have the Grant you then deal with the remaining administration or, if needed, we can offer further assistance.
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Full Administration & Distribution:
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This would be where you hand all of the work over to us. What is involved will vary greatly depending on the complexity of the estate but will generally include:
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Getting valuations of the assets and liabilities in the estate.
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Preparing and submitting the application for Probate
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Paying any Inheritance Tax due
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Closing bank accounts, selling property and gathering assets in
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Settling any debts
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Distribution to the beneficiaries
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Costs will be based on time spent at the appropriate hourly rate for your fee earner. The time spent will depend on the complexity of the estate.
For a simple estate where there maybe bank accounts, shares and a property, on average, time spent will be 10 – 15 hours so a fee estimate of £2,000 – £2,500 would be reasonable.
