Probate and Letters of Administration

When someone dies leaving a Will their estate will need to go through a process called Probate. The process will involve proving the validity of the will and appointing an Executor. An Executor will have the power to sign any document which the deceased would have signed   whilst the deceased was alive. The order granted by the Court is called a Grant of Probate.

When someone dies without leaving a Will an Administrator must be appointed to administer the estate of the person who has died. Usually the next of kin of the deceased   will apply for   a grant of “Letters of Administration”.

Administration of   the Estates

This is a process by which the Executor or Administrator collects together the deceased’s paperwork, applies to the Court for a Grant of Probate or Grant of Letters of Administration. Thereafter they collect in the money and property into the deceased’s estate, pay any debts and distribute the estate amongst the relevant beneficiaries. They will also finalise the deceased’s income tax affairs and pay where necessary any inheritance tax due.

The Cost of Probate

Legal Fees

We charge by the hour for dealing with probate matters. The current hourly rate is £250 Plus VAT at 20%.  An estimate of the likely cost is given when we know the details of the deceased's assets and liabilities and the number of beneficiaries involved.

The average cost of dealing with the administration of an estate is between £1,700.00 plus VAT at 20% and £3,500.00 plus VAT at 20% dependant on the complexity of the matter.

We will provide you with an accurate estimate when we have more information about the Will, if any, the assets and beneficiaries. The court fee on 1st April 2021 is £155.00 plus £1.50 for each copy of the grant that is required. We usually obtain several copies of the grant so that one can be sent to each of the financial institutions in which the deceased held investments.

Our service will be carried out by either Nicole Jacobs or Vanessa Forson both legally qualified solicitors who have more than 15 years’ experience in dealing with probate matters.

Disbursements

• Probate application fee of £155

• £80 Swearing of the oath (per Executor)

• Bankruptcy-only Land Charges Department searches (£2 per beneficiary)

• £73.20 plus VAT (rate in 2021) Post in The London Gazette – Protects against unexpected claims from unknown creditors.

• £215 Plus VAT (approximately) 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.

   

  Factors to Consider

  The cost of dealing with the administration of an estate varies according to a variety of factors such as:

• Whether there is a valid will

• The number of properties owned by the Deceased  

• The number of bank accounts and investments owned by the Deceased

• Whether there are any intangible assets

• The number of beneficiaries

• There are no disputes between beneficiaries on division of assets. If disputes arise this is likely to lead to an increase in costs

• Whether   inheritance tax is payable and   whether a full account needs to be submitted to HMRC

• Whether there are any claims made against the estate

  Our service includes: -

• writing to all banks and financial institutions, including utility companies, to whom the deceased owed money

• advising on important steps to be taken by the Executors or Administrators

• drafting the HMRC account and court forms and documents

• Obtaining details of the beneficiaries and writing to them about their inheritance

• corresponding and preparing a report to the Executors or Administrators

• preparing a report to you

• submitting an application for probate

• paying any inheritance tax

• receiving the grant

• advertising for creditors when appropriate

• collecting in the assets of the estate and paying any debts and paying any specific beneficiaries their entitlement

• preparing an administration account and finalising where necessary the deceased’s income tax affairs

• reporting to HMRC any taxable income or capital gains during the administration

• issuing accounts for approval and receiving approval to the accounts from the Executors and/or the beneficiaries

• searching against beneficiaries at the Land Charges Registry and distributing the estate to the beneficiaries including settling any tax or other liabilities.

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.

• Additional copies of the grant are charged at£1.50 per copy

• Dealing with the sale or transfer   of any property in the Estate   is not included.

  The matter normally takes between 6 and 18 months to complete.

  Fixed Fee Probate

  We can help you through this difficult process by obtaining the Grant of Probate on your behalf. Our service is limited to meeting with you, drafting the HMRC account, preparing the court papers, sending you a report on the documents prepared and applying to the court for the grant of probate. We will not deal with the administration of the estate or any tax matters when offering this service. This service is conditional on:

  1 The estate does not exceed £1,000,000 where the spouse or charity exemption applies, and

  2 The estate does not exceed the nil rate band (currently £325,000.00) except where the spouse/civil partner or charity exemption applies or transfer of unused nil rate band applies.

  Anaysse-Jacobs Solicitors   fixed fee price for just obtaining the grant of probate is £900.00 plus VAT at 20%.

  Disbursements: -

• The court fee on 1st April 2021 is £155.00

• £1.50 for each copy of the grant that is required.

• £80 Swearing of the oath (per Executor)

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.

As part of our fixed fee we will:

• Provide you with a dedicated and experienced probate solicitor to work on your matter

• Identify the legally appointed Executors or Administrators and beneficiaries

• Accurately identify the type of Probate application you will require

• Obtain the relevant documents required to make the application

• Complete the Probate Application and the relevant HMRC forms

• Draft a legal oath for you to swear

• Make the application to the Probate Court on your behalf

• Obtain the Probate and securely send two copies to you

  On average, estates that fall within this range are dealt with within 2-4 months. Typically, preparing the   estate accounts   takes approximately 1 month and obtaining the grant of probate takes 2 months.