Looking for a solicitor to guide you through the probate process? If you have been named as an Executor under a will the process may seem daunting. If there is no will the process can be even more complicated.

We can assist you in dealing with the process. The level of our involvement can vary depending on how much help you need.

We are expert probate lawyers based in Romford Essex.

Fixed Price Probate – Obtaining the Grant of Probate only

We can offer a fixed price where our retainer is limited to obtaining the Grant of Probate. This includes obtaining the grant for one executor but does not include distribution of the estate or dealing with the more complex IHT forms with the revenue.

Breakdown of costs:

Legal fees £895

VAT on legal fees £179

Disbursements:

• Probate court fee of £273
• £5 Swearing of the oath + £2 exhibit

As part of our fixed fee we will:

• Provide you with a dedicated and experienced probate lawyer to work on your matter
• Identify the legally appointed executors or administrators and beneficiaries
• Complete the Probate Application
• Draft a legal oath for you to swear
• Make the application to the Probate Court on your behalf
• Obtain the Probate and send it to you

Typically, obtaining the grant of probate takes 1-2 months from when you provide us with all the required information.

Please note that the fee does not include obtaining the relevant documents required to make the application for the grant of probate, completing the more complex IHT forms, applying for the transfer of the unused nil rate band, applying for residence nil rate band and the distribution of estate assets to the beneficiaries. For this you are likely to need broader advice and assistance and for this you need to consider costs for more complex estates set out below.

Grant of Probate / Letters of Adminstration and collecting and distributing the assets in more complex matters

A “typical” estate can take between 8 and 12 hours work to complete.  Realistic costs estimates for this are between £1,800 + VAT to £2,700 + VAT + Disbursements (see below)

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. If there are multiple beneficiaries, a property and multiple bank accounts, costs will be at the higher end. In more complex estates this can be higher.

We will handle the full process for you. This estimate is for estates where:

• There is a valid will
• There is no more than one property
• There are no more than 2 bank or building society accounts
• There are no other intangible assets
• There are up to 4 beneficiaries
• There are no disputes between beneficiaries on division of assets. If disputes arise this is likely to lead to an increase in costs
• There is no inheritance tax payable and the executors do not need to submit a full account to HMRC
• There are no claims made against the estate

Disbursements payment on top of this fee:

• Probate application fee of £273
• Bankruptcy-only Land Charges Department searches (£2 per beneficiary)
• £75 + VAT Post in The London Gazette – Protects against unexpected claims from unknown creditors.
• £100 to £125 + VAT Post in a Local Newspaper – This also helps to protect against unexpected claims.

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.

Potential additional costs

• If there is no will or the estate consists of any share holdings (stocks and bonds) there is likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with. We can give you a more accurate quote once we have more information.
• If any additional copies of the grant are required, they will cost £1.50 (1 per asset usually).
• Dealing with the sale or transfer of any property in the estate is not included.
• Preparing self assessment tax returns are not included

Frequently Asked Questions

1. What is probate? Probate is the legal right to deal with someone’s property, money, and possessions (their ‘estate’) when they die.
2. Do I need probate if the deceased left a will? Probate may be needed depending on the financial organisations the deceased person used. Every organisation has its own rules.
3. Who can apply for probate? If there’s a will, executors named in it can apply. If there’s not a will, the closest living relative can apply. As lawyers we can assist with this process and act for the executors at the cost of the estate.
4. How to apply for probate? We can do this when either you or we have established the value of the estate. Depending on this value Inheritance Tax forms (of varying complexity) will need to be submitted and dealt with first.
5. How can I value an estate for probate purposes? It involves several steps including:
   1. Identify the Assets: Anything that the deceased owned, either solely or jointly, needs to be identified as well as anything that was owed to the deceased such as unpaid salary or a bonus. The most common assets for probate include money in bank accounts.
   2. Identify Liabilities: You should identify any debts the deceased had.
   3. Identify any Lifetime Gifts: If the deceased made any gifts during their lifetime, these may need to be taken into account.
   4. Calculate the Value: To calculate the net value of the estate for probate and Inheritance Tax purposes, you should subtract the value of all liabilities from the value of all assets.
   5. Estimate the Estate’s Value: This will affect how you report the value, and the deadlines for reporting and paying any Inheritance Tax.
   6. Report the Value of the Estate: How you do this depends on whether you need to send full details of the estate and its value.
      1. Note:Valuing an estate can take several months, but it can take longer if it’s a large or complicated estate. For property and contents, it is not as straightforward, and you may need the help of a professional valuer. The value is the open market value, that is the price the asset might reasonably fetch if it was sold on the open market at the date of death.
6.  What are Inheritance Tax forms (IHT forms)? These are used to report the value of the estate of someone who has died to the Inland Revenue and calculate any Inheritance Tax due.
7. What forms do I use? This can be complex and easy to make mistakes. There are different forms for different situations – for example, there are specific forms for when Inheritance Tax is due, when a full account is needed, when Inheritance Tax is due on a trust, and to correct an Inheritance Tax account.
8. How do I complete the IHT forms and can you assist with that? We can certainly assist with this as part of our Probate service.  However to fill out the forms you need to have completed the valuation of the estate – the forms will ask for information about the deceased’s assets, liabilities, and gifts. They may also ask for information about the deceased’s domicile, jointly owned assets, life assurance and annuities, stocks and shares, business and partnership interests and assets, and more.
9. What happens after you have applied for probate? Your application will be reviewed by the Probate Service. Once the application has been approved, the will and any additions to it (‘codicils’) will be kept by the probate registry and become a public record.
10. What will I get after applying for probate? You’ll get a document that allows you to start dealing with the estate. This will be one of the following: a ‘grant of probate’ – if the person left a will; ‘letters of administration with will annexed’ – if the will does not name an executor or the named executor cannot apply; ‘letters of administration’ – if the person did not leave a will.
11. Is there a deadline for administering the estate? There isn’t a specific deadline for probate applications there may be tax penalties for filing the IHT forms later so it is  advisable to administer the estate as soon as possible.

Please call David Gregory on 01708 757575 for a quote or email david.gregory@ker.co.uk  for a formal quote and details of the timescales involved.

Probate Department Staff Profiles:

David Gregory – Probate Executive

David joined us in 1995 having completed a law degree at a London University.

Wills and probate account for 100% of David’s current workload.

For further advice contact:

David Gregory – Probate Executive

david.gregory@ker.co.uk 

01708 757575