BATES & MOUNTAIN - Costs and Services
PROBATE
We appreciate that this will be a difficult time and if you have been appointed as an Executor to an estate under a Will and need some help understanding your obligations, administrating the estate or making an application for a Grant of Probate, please contact us. A Grant of Probate is obtained from the Probate Registry and is a legal document which confirms that the executor has the authority to deal with the deceased person’s assets (property, money and belongings) in accordance with the terms of the Will.

If there is no Will (known as dying intestate), the process can be more complicated and incur additional work. An application will need to be made for a Grant of Letters of Administration which appoints an administrator to administer the estate. The administrator is the person who has the legal right to deal with the affairs of the person who has died and is determined by a set order of priority. The administrator will often be a close relative of the deceased. We will be able to provide you with information on the set order of priority for applying as administrator. There may be additional work in ascertaining the beneficiaries who have a legal interest in the estate.

The costs of winding-up the estate will usually be a debt of the estate.

Please see the following links for further information:-

https://www.lawsociety.org.uk/for-the-public/common-legal-issues/probate/

https://www.gov.uk/wills-probate-inheritance

OBTAINING A GRANT OF PROBATE (OPTION 1)

We can help you through this difficult process by obtaining the Grant of Probate or Grant of Letters of Administration on your behalf (only) on a fixed fee basis if you provide us with the financial information in relation to the estate.
Our fee covers our work in preparing the Inheritance Tax form and application forms for Probate or Letters of Administration and obtaining the Grant based on the financial information you provide to us relating to the estate. This will then enable you to administer the estate. Should you wish for our firm to undertake this work and administer the estate on your behalf, please see the subsection ‘Applying for the Grant of Probate/Letters of Administration, collecting and distributing the assets’ (option 2) below.
Our Fee
Fixed fee of £525 plus VAT of £105, totalling £630.
Stages of the Process
As part of our fixed fee we will:

*If there is Inheritance Tax payable then the work carried out for this element will be charged at the firm’s hourly rate (see option 2 below for hourly rate).

Disbursements

There will be some disbursements which will also be required to be paid, when obtaining the Grant of Probate or Grant of Letters of Administration. Disbursements are costs related to your matter that are payable to third parties, such as Court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

Typical disbursements include:

How long will this take?

On average, once you have provided us with all of the financial information in the estate, preparing the documentation and obtaining the Grant of Probate or Grant of Letters of Administration should take 4 - 6 weeks.

Example (Grant of Probate)

1. Obtaining Grant of Probate:-


PROBATE: APPLYING FOR THE GRANT OF PROBATE/LETTERS OF ADMINISTRATION, COLLECTING AND DISTRIBUTING THE ASSETS (OPTION 2)
Our Probate department can deal with all aspects of the administration of the estate including ascertaining the size of the estate, obtaining the Grant of Probate or Grant of Letters of Administration, collecting and distributing the assets.
The exact cost will depend on the individual circumstances of the matter and the size of the estate. For example, if there is one beneficiary and one property, costs will be at the lower end of the range. If there are multiple beneficiaries, more than one property, shares and multiple bank accounts, the costs will be greater. In some cases, where the estate is small, a Grant of Probate may not be required.

Our Fees

Our hourly charging rate is £180 plus VAT (currently at 20%) of £36, totalling £216 per hour.

The amount of hours of work required on an average estate, with a straightforward Will, will usually take between 8 and 16 hours (at the above hourly rate). Therefore the costs estimated are £1,440 – £2,880 plus VAT of £288 – £576, totalling £1,728 – £3,456.

The exact cost will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property, costs will be at the lower end of the range and will take less time to complete. If there are multiple beneficiaries, a property and multiple bank accounts, costs will be at the higher end.

Our fee estimate assumes that:-

Potential additional costs:

We can give you a more accurate indication as to fees and likely timescales once we have more information about the estate and have seen you in initial interview.

Disbursements and Taxes

In these types of cases, there are additional disbursements and/or taxes payable. Disbursements are costs related to your matter that are payable to third parties, such as Court fees. Taxes are amounts which may be required to be paid to HMRC. There will be some disbursements which will be required to be paid, when obtaining the Grant of Probate or Grant of Letters of Administration and administering the estate. We handle the payment of the disbursements on your behalf to ensure a smoother process.

Typical disbursements/taxes include:

VAT is charged on most search fees.

Inheritance Tax is a tax on the estate (the property, money and possessions) of someone who has died. There is a ‘threshold’ and rules in relation to the payment (if any) of Inheritance Tax. You can calculate the amount you may need to pay by using HMRC's website:- https://www.gov.uk/guidance/hmrc-tools-and-calculators#inheritance-tax-and-bereavement

Income Tax may be payable on the estate of someone who has died. This is usually calculated by HMRC.

Capital Gains Tax is a tax on the profit when you sell (or 'dispose of') something (an 'asset') that's increased in value. It's the gain you make that is taxed, not the amount of money you receive. This may be payable on a property or asset in the estate of someone who has died. There are rules in relation to the payment (if any) of Capital Gains Tax. You can calculate the amount you may need to pay by using HMRC's website:-

https://www.gov.uk/tax-sell-property/work-out-your-gain

However, in a complex estate it may be appropriate to instruct an accountant to advise on the amount payable.

Stages of the Process

We will handle the full process for you to include obtaining the Grant of Probate or Letters of Administration, collecting the assets and distributing them to the beneficiaries, which means that we:-

How long will this take?

After the initial appointment with you, on average, estates may take 3-6 months, which typically consists of:-

However, complex estates which can include say, a number of properties, trusts, partnerships/businesses, land (including agricultural Inheritance Tax calculations) and shareholdings may extend the estate by months or years in these types of estate.

Examples

1. An estate* involving the deceased owning a property and bank accounts with 3 different banks – 8 hours – there being one executor:-

2. An estate* where more assets are involved such as a number of bank accounts, a property, a portfolio of shares, ISA’s, life policies – 16 hours – there being two executors:-

* Based on there being no Inheritance Tax liability

** The cost of dealing with the sale of the property in the estate is not included in the total and is charged separately.

Who will be dealing with my case?

Andrew Dollery – Partner

Andrew is the head of the non-contentious department and has over 30 years’ experience in residential and commercial property transactions and private client work. Andrew has been working in these areas since he qualified and has helped thousands of clients over the years.

Andrew has vast experience in dealing with complex residential and commercial property transactions.

Andrew specialises in Wills, Trusts and Probate and Lasting Powers of Attorney.

Andrew qualified as a solicitor in 1985 after graduating from Coventry University with a law degree. He joined the firm in 1987 and became a partner in 1991.

Jade Watson – Solicitor

Jade has gained experience in residential and commercial property, including residential developments and commercial leases.

Jade is also experienced in Wills and Probate and in the preparation of Lasting Powers of Attorney. Jade also assists clients in the preparation of Lasting Powers of Attorney.

Jade joined the firm in January 2017, working in our non-contentious department.

Jade qualified as a solicitor in 2011. She graduated in 2008 with a law degree from Leeds Metropolitan University.

Jill Cockerill – Associate of the Chartered Institute of Legal Executives (ACILex)

Jill has a wealth of experience in residential property transactions and also specialises in Wills and Probate and assists clients in preparing Lasting Powers of Attorney.

Jill also specialises in Wills and Probate and assists clients in preparing Lasting Powers of Attorney.

Jill joined the firm in 1978 and, having left to have a family, re-joined the firm in 1998