Professional help at a difficult time
Having to deal with the estate of a loved one who has passed away can be a most unwelcome burden at a very emotionally distressing time.
Instructing the services of professionals to deal with the estate of a loved one will mean that they can take responsibility for obtaining the Grant of Probate and ensuring that the Tax affairs of the estate are taken care of and any gifts and Property are distributed to the beneficiaries in accordance with deceased’s wishes. Stephens Wilmot can help you.
Why Choose Us?
We take our responsibility seriously.We have the expertise to deal with probate efficiently. Our probate services are designed to keep things simple. Although probate advice can seem complicated, we always aim to assist our clients by giving clear, straightforward and immediate advice to help the probate process be as stress-free as possible.
Our probate team is headed by Simon Adshead who can be contacted by telephone on 01633 712895 or by email: [email protected]
You will receive on-going support from your designated case handler who will keep you informed from start to finish.
What we will do for you
- We prepare the necessary documentation for the Grant of Probate application
- We deal with Her Majesty’s Revenue and Customs ( HMRC ) on your behalf
- We carry out all necessary checks to ensure the validity of any Will in existence
- If there is no valid Will, we will apply the Rules of Intestacy to the Estate of the deceased to identify the Personal Representatives and Beneficiaries and to establish the entitlement of the Beneficiaries
- We apply to the Probate Registry and obtain the Grant of Probate
- We ensure the accurate distribution of the Estate
- We place all statutory adverts to establish whether there are any claims against the Estate
- We assess variations to the distribution of the Estate (drafting the Deed of Variation is at an additional cost)
- We complete the following tax forms for HMRC:
- The Income Tax return from 6th April to the date of death.
- The appropriate Inheritance Tax form, either an IHT 205 or IHT 400.
- The Capital Gains Tax return, if required.
- We conduct all correspondence with HMRC relevant to completing the above tax forms.
- We take any corrective action required by HMRC during the Estate administration process.
- We claim any relevant tax reliefs or exemptions applicable to the Estate.
- We calculate any Inheritance Tax, Income Tax and Capital Gains Tax that is owed.
- We ensure payment of any outstanding tax from the Estate.
- We calculate and arrange for the transfer of any Nil Rate Band allowance if available, in order to reduce Inheritance Tax.
- We identify and correspond with the Personal Representatives and beneficiaries of the Estate throughout the Estate administration process.
- We identify and correspond with all financial institutions and organisationsrelevant to the Estate throughout the Estate administration process.
- We identify, verify and value all assets based in England and Wales.
- We gather all the assets of the Estate.
- We transfer all jointly held assets into sole name, including property held as joint tenants.
- We arrange for payment of any debts and liabilities from the Estate.
- We prepare the accounts of the Estate.
- We distribute the Estate to the Beneficiaries and Trustees of any Trusts created by the Will or intestacy
- We deal with the sale of any estate land or property. This work will incur an additional conveyancing fee. For details on our conveyancing fees please refer to our conveyancing page.
- We ensure that any existing buildings and contents insurer is fully aware of the change in circumstances and making sure that appropriate insurance is in place (where insurance is not in place we can arrange cover at an additional cost)
- We appoint the Royal Mail to re-direct post to us during the period of administration in order to manage all the affairs of the Estate.
If there is a property to be sold, then, for an additional fee, we can deal with the following:
- Appointing an Estate Agent for the marketing and sale of the property.
- Appointing and managing a specialist Energy Performance Certificate (EPC) provider in obtaining an EPC for the property where appropriate. An EPC is a legal requirement for the marketing and sale of a property.
- We will notify you in writing of any additional fees relating to our property services before we start work on them.
We offer a fixed fee for applications for Grant of Representation which is limited by the numberof assets in the estate. The price below details what is included and what limitations there are for the service. The grant of representation service includes the completion and submission of the relevant application forms and other required documentation for taxation as well as the completion and submission of forms for the grant of representation to the probate registry.
The prices below do not include VAT or disbursements
Application for a Grant of Probate only where no Inheritance Tax is payable on the estate
This service includes the application for Grant of Probate or Grant of Letters of Administration and Completion and Submission of IHT205 Inheritance Tax Form.
- Please note that with this service we expect our client to provide all information regarding the date of death and the balances of any assets and liabilities/debts affecting the estate.
- The fixed fee includes completion of the Inheritance Tax IHT205 form, the drafting of the Oath/Statement of Truth, arranging execution of the Oath/ Statement of Truth and then submitting to the Probate Registry and subsequentliaising with the Probate Registry to obtain the Grant of Representation
How long does this process take?
Attaining grant of representation for a typical estate can take up to 2 months which includes 4 weeks for the Probate Registry to deal with the application.
Application for a Grant of Probate only with transfer of Nil-rate band
- Application for Grant of Probate or Grant of Letters of Administration
- Preparation and Submission of IHT205 and IHT217
- Client is to provide all information regarding the date of death and the balances of assets and liabilities
- Client is also to provide information about the estate of the first to die in order to claim the transferable nil rate band
- The fixed fee includes only the completion of the IHT205 and IHT217 and drafting of the Oath/Statement of Truth, arranging execution and submission to the Probate Registry and then liaising with the Probate Registry to obtain the Grant
- Attaining grant of representation for a typical estate can take up to 2 months which includes 4 weeks for the Probate Registry to deal with the application
Application for Probate only where the estate is taxable
- Application for Grant of Probate or Letters of Administration
- Preparation and Submission of IHT400
- Note: Client is to provide all information regarding the date of death and the balances of assets and liabilities
- The fixed fee includes only the completion of the IHT400 and accompanying schedules and arranging the signature of the Account, to liaising with the deceased’s bank and the executors to oversee the payment of the IHT, to liaising with HMRC to obtain the necessary receipt from HMRC to drafting the Oath/Statement of Truth and submitting the application to the Probate Registry to liaising with the Probate Registry to obtain the Grant
- Timescale: 3 to 4 months due to the added complexity, this includes 4 weeks for HMRC to issue the receipt
Executors deed of renunciation
- Drafting a Deed of Renunciation and arranging execution by the Executor.
- This will typically take up to 4 weeks
Our fees for dealing with the complete probate process (which would include obtaining the grant of probate to dealing with payment of the inheritance tax liability to distributing the estate assets) of are set at £900 (plus VAT) or 1% of the estate value (whichever is the higher) in respect of non-taxable estates and £1250 (plus VAT) or 1% of the estate value (whichever is the higher) in respect of taxable estates.
The above fees are based on the average amount of work we estimate to be involved in the administration of an estate. However, if, in our view, the work involved is estimated to go above and beyond the average amount of work normally involved in the administration of an estate then we reserve the right to charge additional our hourly rate for additional work undertaken.
Our hourly rate for additional work is £200
Please note that we will notify you if and when our fees are likely to go beyond our fixed rates quoted above. Please note that it is not always impossible to give a completely accurate quote at the commencement of an instructionwithout knowledge of the particular circumstances of any case.
Estimated Timescale for administering an estate is between 6 – 12 months
Complex matters can take considerably longer.
The administration of an estate includes:
- Meeting with the Executors ( subject to Stephens Wilmot not already being instructed to act as executors)
- Providing advice in relation to the estate administration
- Writing to all asset holders and creditors to obtain date of death valuations
- Preparing the application for the Grant of Probate or Letters of Administration to include completion of IHT account and drafting of Oath/Statement of Truth
- Arranging execution and submission of the paperwork
- Submission of the application to obtain the Grant
- Distributing the Grant to the asset holders along with the withdrawal forms
- Encashing the deceased’s assets and distributing in accordance with the deceased’s Will or intestacy rules
- To also include preparation of Estate Accounts
Get a more accurate quote
Every case is different. For a bespoke estimate please contact Simon Adshead at [email protected] or call on 01633 712895.
There may be additional tax due on this matter which would be separate to the estimated cost.
For additional information on Inheritance Tax please visit the gov.uk website:
Additional costs may be applicable, please note that the following are not included:
- Conveyancing costs for dealing with the sale of a deceased’s property as part of the estate administration is dealt with by the conveyancing team and charged separately
- Disbursements are costs related to third-partyservices which we pay on your behalf.
We have not included the following disbursements in the above prices which may be charged in addition to the above fee. We price these based on the cost these services are charged to us:
- Probate Application Fee: £155 (plus 50p per additional copy)
- Commissioner for Oaths fee:£5 (per deponent)
- These fees do not apply where any assets of the estate are outside of the UK
- These fees do not apply if the Will or distribution of the estate is contested or the executors are in dispute
- These fees do not apply if there is a claim against the estate under the Inheritance (Family & Dependants) Act 1975
Fees may vary dependant on individual circumstances.
In addition, the finalising of any Income Tax payable is usually dealt with by the deceased’s accountant or outsourced to an accountant if the deceased did not have one.
STEPHENS WILMOT PROBATE CHARGING STRUCTURE
PLEASE NOTE: THE FOLLOWING PRICING STRUCTURE IS ONLY INDICATIVE OF OUR AVERAGE COSTS FOR PROBATE SERVICES. ACTUAL CHARGES MAY FLUCTUATE BASED ON SIZE AND COMPLEXITY OF THE ESTATE. FOR A MORE ACCURATE QUOTATION BASED ON THE ESTATE VALUATION AND ADMINISTRATION, PLEASE CONTACT SIMON ADSHEAD AT [email protected] OR ON 01633 712895.
PLEASE ALSO NOTE THAT THE INDICATIVE COURT FEES AND DISBURSEMENTS ARE ACCURATE AS AT THE TIME OF PUBLISHING IN JANUARY 2019.