Overview
Probate is the legal and financial process of dealing with the property, money, and possessions of a person who has died. We understand that bereavement can be a very emotional event and have a supportive team who will help you through this process.
Team
Our Probate Solicitor Claire Trotel has a wealth of experience handling work relating to the administration of estates, as well as the drafting of Wills and estate planning and Powers of Attorney. During her career, Claire has dealt with many high value and complex estate administration cases involving UK and international assets.
What does our probate service provide?
We offer a full estate administration service, guiding you through the process from start to finish. The service would typically include:
An initial meeting with you to take your instructions.
A review of the deceased’s Will, or where there is no Will, the application of the Intestacy Rules, to advise on who may administer the estate and identify beneficiaries and any issues that may affect the Grant of Probate/ Letters of Administration.
Identifying and investigating the assets and liabilities of the estate, including arranging professional valuations of property, investments and other assets.
Preparing an initial calculation of the inheritance tax due.
Preparing the probate papers and tax forms.
Liaising with HMRC with regard to the Inheritance Tax liability of the estate, and arranging the payment of inheritance tax.
Applying for and obtaining the Grant of Representation from the Probate Registry.
Collecting in the assets of the estate and/or transferring assets to beneficiaries.
Dealing with any income or capital gains tax liabilities of the estate.
Arranging the preparation of final estate accounts.
Distributing the remaining assets to the beneficiaries either directly or via a lifetime or will trust.
What is the cost of applying for probate?
The exact cost will depend on the individual circumstances of the matter, including:
The size of the estate.
The complexity of the deceased’s financial affairs and the estate, including whether the deceased had a large number of accounts, stocks and other investments.
Whether the estate includes foreign assets, trusts, or business interests.
Whether the deceased left a Will (and how well it was drafted) or whether the estate passes under the Intestacy Rules.
We charge based on the time spend administering the estate. Our hourly rates are between £205 to £245 plus VAT for trainees and £495 plus VAT for solicitors.
We can only provide an estimate the likely costs of our probate services once we have fully discussed the matter with you and seen the papers. However, we can provide an indication of our likely fees associated with work of varying complexity.
Low complexity - from £10,000 to £20,000 plus VAT
Mid complexity - from £20,000 to £40,000 plus VAT
High complexity - in excess of £50,000 plus VAT
Disbursements
In addition to our fees, there will also be third party costs (known as “disbursements”). We handle these payments on your behalf to ensure that the administration progresses smoothly and efficiently.
Examples of these fees are as follows:
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Probate court fee
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£155 plus £1.50 per copy
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Advert posted in the London Gazette - Protects against unexpected claims from unknown creditors.
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£92 plus VAT
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Advert posted in local newspaper– This helps to protect against unexpected claims.
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Variable
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Landmark Financial Assets Search (Lost Assets Search)
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£155 plus VAT
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Copy death certificates (per copy)
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£11-15
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Copy divorce papers
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£10 – £45 depending on whether court and case number known
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Potential additional costs
Additional costs to those set out above may arise during for a range of case specific reasons. However, those reasons may include, but are not limited to:
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Any challenge as to the validity of the Will or entitlement to the grant of Probate.
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Any challenges by beneficiaries and third parties in relation to any distribution to be made, or that has been made.
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Liaising with lawyers, accountants or representatives as to any overseas elements of the estate.
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Litigation in which the estate is a claimant or defendant.
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Obtaining Legal services to deal with the sale of estate assets; and
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Arranging Tax advice, other than that set out above (e.g. working with an accountant in relation to income tax or capital gains tax returns).
How long does Probate take?
On average, estates that fall under the Inheritance tax threshold are dealt with within 12-18 months. Typically, obtaining the grant of probate takes 6-8 months. Collecting assets then follows, which can take between 8-12 weeks. Once this has been done, we can distribute the assets, which normally takes 4-8 weeks. Sometimes estates can be finalised much quicker, depending on turnaround times at HMRC and the probate registry.
Higher value, taxable and more complex estates (especially if the distribution of the estate is disputed) can take far longer to finalise.
