When a loved one dies their property, money and belongings will need to be dealt with. This means following the wishes in their Will or distributing under the rules of intestacy. You may have been chosen to be Executor and find yourself faced with the daunting task of sorting everything out.
We offer a free, no obligation initial meeting to discuss your role as Executor and to help point you in the right direction of what you should be doing. We are here to help and understand that different people need different levels of assistance when dealing with an estate. With this in mind we offer a range of services:
Drafting and Submitting Your Probate Application:
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:
Draft the Inheritance Tax account and Oath for Executors
Submit the application to HM Revenue and Customs and / or the Probate Registry
Secure the Grant of Probate by settling any Inheritance Tax that is due
Once you have the Grant you then deal with the remaining administration or, if needed, we can offer further assistance.
The final alternative is that we can be available at the end of the phone, on email or in person to hold your hand through the process as and when you need us.
We can mix and match any of our services to suit you, whether this be on a one off question or on a more regular basis.
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.
Full Administration & Distribution:
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:
Getting valuations of the assets and liabilities in the estate.
Preparing and submitting the application for Probate
Paying any Inheritance Tax due
Closing bank accounts, selling property and gathering assets in
Settling any debts
Distribution to the beneficiaries
Based on time spent by reference to hourly rates.
Contact us directly for an accurate estimate.
For a simple estate submitted on an IHT205 our costs start at £330 plus VAT.
For more complicated estate requiring an IHT400 our costs start at £855 plus VAT.
Higher charges may be made if the estate in question is particularly complex.
Our costs will vary depending on the work that you wish us to assist with. We are committed to providing a fair and clear fixed fee where this is possible and will discuss this with you at the conclusion of our initial meeting.
Probate Fees payable on each application of £155 plus £1.50 per copy Grant required.
IHT205 – Use form IHT205 as part of the probate process if the deceased's estate is an 'excepted estate' and the person that dies was a permanent resident of England, Wales or Northern Ireland. An 'excepted estate' is an estate that does not pay Inheritance Tax and meets other conditions.
IHT400 – Apply for probate or confirmation if there's Inheritance Tax to pay, or if the deceased's estate does not qualify as an 'excepted estate'.