Specialist Probate Advice

What is probate?

Probate is the legal right to deal with someone’s property, money and possessions, i.e. their estate, when they die. If a loved one dies, then you may need to apply for a grant of representation to administer the estate. If the person left a Will appointing executors, a ‘grant of probate’ will be issued. In the event there are no executors able to act under the Will or there is no Will in place, ‘letters of administration’ will be issued.

Is probate always needed?

In some circumstances, you may not need probate. For example, jointly owned land, property, shares or money may pass to the surviving owner automatically under the rules or survivorship. In addition, it is normally possible to release small bank balances without the need for a grant of probate.

Who can apply for probate?

If the deceased left a valid Will, the named executors would have the right to apply for probate.

If there is no Will, then the ‘administrator’ will deal with the estate. This is determined by the rules of intestacy but effectively this is the deceased’s closest living relatives in a set priority order, starting with the husband, wife or civil partner. Crucially unmarried partners are not included under the rules of intestacy.

The executors or administrators may be referred to collectively as the personal representatives.   

If you are a personal representative but would prefer for a professional to act on your behalf, then you can appoint a probate specialist to assist you with the process.

What is involved in the probate process?

Probate is the name given generally to the process of administering an individual’s estate after death and applying for the grant of probate. In reality, this can include a wide range of responsibilities including:

• Registering the death and notifying any relevant organisations.
• Locating a copy of the Will (where applicable) and ensuring that it is valid/the deceased’s last Will.
• Coordinating any funeral arrangements.
• Identifying and tracking down any beneficiaries/potential beneficiaries under the Will or the rules of intestacy (where the deceased died without leaving a valid Will).
• Obtaining details of the deceased’s assets and liabilities.
• Identifying any gifts made by the deceased in the seven years prior to death (or fourteen years in certain circumstances) for the purpose of completing the Inheritance Tax return.
• Preparation and submission of the inheritance tax return and settling any liability due.
• Applying for the grant of probate where there is a valid Will or Letters of Administration in the absence of a valid Will.
• Finalisation of the deceased’s personal tax affairs up to the date of death, including the submission of any outstanding self-assessment tax returns.
• Realising any assets and settling any outstanding liabilities.
• Dealing with any potential disputes or claims over the estate.
• Calculating any income tax or capital gains tax liabilities due for the period of administration.
• Preparing estate accounts and providing copies to beneficiaries.
• Making distributions to beneficiaries.

How does our service work?

We want our service to be as flexible as possible, therefore we are happy to work alongside the personal representatives (executors or administrators) to complete as much or as little of the process as they would like. If there are parts of the process the personal representatives would like to complete personally, they are able to do so and our fees can be adjusted accordingly.

How are our fees charged?

Our fees are dependent on a number of different factors, including the complexity of the estate, availability of information, the volume and type of assets, the number of transactions, the number of beneficiaries/executors and any disagreements/disputes.

If at all possible, we will provide a fixed fee quote in advance of undertaking any work. If there is insufficient information or too many uncertainties, our fees would be charged for on a time spent basis. The charge rate of the member of staff dealing with the case will be advised and an estimate of the likely time cost provided.

What are our typical fees?

Our fees are dependent on the particular circumstances and every estate is different, however some examples are provided below:

Case study 1:

Simple estate including a property, small number of bank accounts and the estate is considered ‘excepted’ (no inheritance tax return is required).

The personal representatives are able to provide the required information and will complete the administration, therefore we are instructed to obtain the grant of probate only.

Our fee would be £1,400 + VAT (£1,680 including VAT).

Case study 2:

Slightly more complex estate including a property, bank account and some listed shareholdings. An inheritance tax return is required to claim the residence nil rate band but no inheritance tax is payable.

Again, the personal representatives will provide the information and complete the administration but we are instructed to prepare the inheritance tax return and obtain the grant of probate.

Our fee would be £2,500 + VAT (£3,000 including VAT).

Case study 3:

A slightly larger estate including a property, bank accounts, listed investments and business assets. An inheritance tax return is required and inheritance tax is payable.

We are provided with some of the information by the personal representatives but are required to contact the banks/external providers to obtain asset values etc.

Our fee to complete the inheritance tax return and obtain the grant of probate would be £3,700 + VAT (£4,440 including VAT).

Case study 4:

A fairly straightforward estate including a property, bank accounts and small number of listed investments. An inheritance tax return is required and inheritance tax is payable.

The personal representatives want to have minimal involvement so will provide basic information but want us to obtain values and complete the administration of the estate.

Our fee would be in the region of £9,000 + VAT (£10,800 including VAT).       

Are there any other costs involved?

During the administration process, other third party fees/costs may be required. For example, the following will or are likely to be required:

• Probate application fee – payable to the probate registry (if the estate is valued over £5,000), this is currently £300 + £16 per office copy.
• Statutory notice fee – this is payable to the relevant newspaper and the cost can vary, typically this will be between £200 – £300.
• Asset search – this is currently £195 + VAT.
• Other professional fees – this is dependent on the estate but could include specialist valuation fees e.g. a chartered surveyor to value land and buildings or solicitors fees for conveyancing on the sale/transfer of a property.

What are the timescales?

Every estate is different and timescales will be dependent on the particular circumstances. Subject to obtaining the required information, a Grant of Representation can typically be obtained within 6 months.

The length of time required to complete the administration of the estate is heavily dependent on the specific circumstances and possible external factors. A straightforward estate with no assets to sell can usually be completed within 12 months. A more complex estate involving a sale of assets, negotiation with HMRC etc is likely to take longer to complete.