If someone close to you has recently passed away, you may have been named as Executor in their Will or be the right person to act as Administrator, if there is no Will. Unless you have been placed in this position before, you may have no idea what to do and where to start.
As Executor or Administrator, you are responsible for gathering in the deceased’s assets and paying them out in accordance with the Will or, if there is no Will, according to the Rules of Intestacy. This is a very important role with great responsibility and there are often legal and tax issues to be taken into account.
Hetts have a long established team of qualified solicitors and experienced support staff, who are here to help. We understand that this is a difficult time for all concerned and we can advise you as to how to proceed and assist in the administration as required, in particular:
- Checking the validity of Wills and Codicils
- If there is no Will, applying the Rules of Intestacy to identify Personal Representatives and Beneficiaries
- Preparation and filing of tax returns
- Payment of Inheritance Tax and Capital Gains Tax
- Correspondence with HM Revenue & Customs
- Applying for a Grant of Probate or Letters of Administration
- Gathering of assets, payment of debts and distribution of the net estate
Our probate fees
We understand that coping with the death of a friend or relative can be very difficult. We can assist with all aspects of the Probate process and assist you as little or as much as you need.
We can assist you whether or not the deceased person left a Will, by either applying for a Grant of Representation (Probate) to enable the named Executors in a valid Will to legally administer the estate, or appointing an Administrator to legally administer invalid Wills or the estate of those individuals who pass away without leaving a Will (intestate).
The fees involved in a probate matter can be very varied and we will always review the individual circumstances before providing you with an estimate of our fees. In certain circumstances we offer fixed fees, and in other (more complex) matters it is likely that our charges will be based upon an hourly charging rate (whereby you will be charged for each hour of work undertaken on the matter).
Obtaining the Grant of Probate only
We understand that dealing with the technicalities of submitting an application for a Grant of Representation to the Probate Registry would be difficult for you. We can help you by preparing the necessary documentation in support of an application for a Grant of Probate which will then be provided to the Executors to administer the estate. We offer a fixed fee of £495.00 plus VAT and disbursements (as detailed below) for non-taxable estates where a full account to HMRC is not necessary. This fixed fee would include:
- Taking your initial instructions,
- Discussing the estate and providing you with a list of information you are required to collate,
- Reviewing the Will and identifying the named Executors and Beneficiaries,
- Advising you as to what sort of application will be necessary (Grant of Probate, Letters of Administrations, Letters of Administration Admon Will),
- Completing the necessary documentation including HMRC forms (if necessary) and Legal Statement,
- Submitting the application to the Probate Registry,
- Dealing with any enquiries from the Probate Registry,
- Obtaining the Official Copies and sending to yourself.
Please note this does not include obtaining any probate valuations nor will we deal with any of the estate administrative tasks.
Assistance in the administration of the whole estate
We can also assist you with dealing with the whole estate from start to finish, ensuring that all of the duties of the Executors have been fulfilled.
Our costs in connection with this are usually based on an hourly rate plus VAT (please click here to see the firm’s hourly rate breakdown) and charged based on the level of experience of the individual dealing with your matter. The final cost will therefore be calculated on the time spent reviewing documentation, attending upon clients, preparing documentation, consideration of correspondence in and out and telephone calls. It is not always possible to estimate the amount of time which it would take to bring a whole estate to a conclusion, and it does depend really on the circumstances of each individual matter. Our hourly rate would be commensurate with the qualification and expertise of the person in our organisation who is dealing with the matter. These range from £150 to £250 per hour. When we meet with you we will discuss the most cost effective way to deal with the matter.
With regard to a simple estate, i.e. those involving perhaps a residential property, bank or building society accounts and investment below the level of the current Inheritance Tax threshold (Inheritance Tax is not payable) we estimate that our fees on average would be between £2,500 and £5,000 exclusive of VAT and disbursements.
Where the estate is larger or more complex and involves the payment of Inheritance Tax, our average fees are normally more than £4,000, based on an average estimate of thirty to forty hours at an average hourly rate of £200 per hour.
Where the estate is complex, we would discuss our fees with you at the outset and provide you with an estimate of our fees at certain intervals during the course of administration.
When we deal with the whole estate the following work would be completed on your behalf;
- Taking initial instructions and obtaining an overview of the assets and liabilities of the estate,
- Writing to various third parties to ascertain date of death valuations and their requirements in connection with the deceased’s account,
- Liaising with local Estate Agents/Surveyors to obtain property valuations and ready any property for the sale market,
- Arranging for the household contents and any special items such as jewellery to be valued,
- Making arrangements for properties to be cleared if you are unable to,
- Once we have received all the necessary information we will prepare the relevant HMRC documentation and Legal Statement,
- Once we receive the Grant of Probate we will forward copies to all necessary third parties and arrange for closure forms to be produced and signed,
- We will arrange for the property to be placed on the open market for sale and liaise with the Estate Agents regarding offers,
- We will liaise with our Conveyancing Department to deal with the registration of the property and/or sale of the property,
- We will (if necessary) make interim distributions whilst the estate continues to be administered by writing to all beneficiaries,
- We will place Statutory Notices in the local paper and London gazette,
- We will liaise and instruct accountants if necessary to deal with the deceased’s tax position (if necessary),
- We will ensure all liabilities are paid of the estate,
- We will prepare an Estate Account showing the income and expenditure throughout and the balance to be transferred in accordance with the Will or Rules of Intestacy,
- We will make final distributions.
Please note that all estates are different, and the list above is not exhaustive. We will review every matter its own basis to ensure that we cover every necessary step.
Disbursements
Probate application fee £273.00 (not vatable)
Official Copies for Grant of Probate £3.00 per copy (not vatable)
Official Copies of Title Register (if necessary) £3.00 per copy (not vatable)
Bankruptcy search fee (per beneficiary) £2.00 (not vatable)
Statutory Notice fee – London Gazette £124.32 plus VAT
Statutory Notice fee – Local paper £110.38 plus VAT
AML checks (per executor) £2.50 inc VAT