Probate & Estate Administration

Probate & Estate Administration

Applying for the appropriate Grant together with collection and distribution of assets

The task of an Executor can be onerous at times and being aware of your personal liability in this role is essential.

Being mindful of the provisions of the Inheritance (Provisions for Family and Dependants) Act 1975 and the effect it can have on an estate must never be overlooked so the help of a dedicated professional can be priceless.

Our staff can provide sound advice from a wealth of experience in this field, meaning your time as an Executor will be without worry. Matters will be dealt with as efficiently and expeditiously as possible so all those involved are updated on a regular basis giving you peace of mind and our initial fixed fee quotes prevent any unexpected costs.

We can offer a level of service to suit your needs from obtaining a Grant of Probate, to a full Estate Administration Service.
You choose the level of service required and we can do the rest.

Fees

Deed of Variation £350 plus VAT

Obtaining a Grant of Probate Only –  non-taxable estate £395 plus VAT

Obtaining a Grant of Probate Only – taxable estate £795 plus VAT

For either of the above options you would provide date of death balances on all assets and liabilities in the estate and we would prepare the Oath and relevant tax return and apply for the Grant of Probate on your behalf.

Our Pledge to you

Most High Street Firms will charge an hourly rate, as well as a percentage of the entire estate. We at Roper James only charge an hourly rate for the work we actually do on your behalf and make no claim in relation of the value of the Estate.

BEREAVEMENT SUPPORT SERVICE

If a Grant of Probate is not required but there are notifications to be made to Pension Providers, Banks, Utility Companies, Dentist, Doctors, Opticians or asset holders, why not let our dedicated staff prepare the correspondence on your behalf for the fixed fee of £295 plus VAT. It simply makes sense to relieve the pressure and allow yourself time to manage your grief.

Probate and Administration of Estate Package

We will handle the full process for you once you are able to provide basic evidence of the assets and liabilities in the estate from the deceased’s papers.
For this we will:-

  • Ensure the Will you provide is the most recent made by the deceased by searching the National Will Register
  • Arrange Trustee Act notices
  • Write to all asset and liabilities holders of the deceased to obtain date of death balances
  • Write to all beneficiaries
  • Obtain valuation of property and ensure home insurance remains in place and property inspected on a regular basis
  • Prepare Oath and relevant Inland Revenue Return to apply for the Grant of Probate
  • Gather in all funds for the estate and pay all liabilities
  • Prepare Estate accounts for the approval of Executors and beneficiaries
  • Distribute estate under the terms of the Will and obtain the necessary receipts from the beneficiaries

Standard costs relating to this matter known as ‘Disbursements’ which are payable to third parties in addition to our estimated fee will be:

  • Probate application fee £155 (if estate is valued in excess of £5000)
  • Oath fees per executor for swearing the Oath £7
  • £0.50p per additional copy of the grant which will be needed for each asset holder in order to release funds to the estate.
  • Bankruptcy searches £2
  • Trustee Act Notices in a local and national newspaper to protect against unexpected claims by unknown creditors £200/250

We handle the payment of the disbursements on your behalf to ensure an expeditious process.

Potential additional costs

  • If the deceased died without making a Will, or the estate consists of any share holdings, there is likely to be additional costs that could range substantially depending on the nature of the estate and how it is to be dealt with. A more accurate quote will be provided once we have more information.
  • Dealing with the sale or transfer of any property in the estate

Fees
As previously mentioned our fees would be charged only on the time spent of the matter and based on our hourly rate of £200 per hour. Once you have provided basic details of the estate an estimate of the overall fees would be provided to you prior to you instructing our team to act on your behalf.

Timeline
On average, estates which fall within this range are dealt with within 6 to 12 months.

Typically, obtaining the information to prepare the application for the appropriate Grant takes 6 to 8 weeks.

Collecting in the assets then follows, which can take between 4 to 6 weeks, dependent on the sale of any property which will inevitably effect timescales to complete the estate administration.

Once this has been done the estate accounts will be prepared for the approval of the Executors and residuary beneficiaries which can take 2 to 4 weeks.

The distribution of assets can then take place, which normally takes 2 to 3 weeks.

Executors and beneficiaries should be aware that if they wish assets to be distributed from the estate, during the 10 month date from the issue of the Grant in which an eligible person can make a claim against the estate, they will be expected to sign an indemnity before funds are released. Please ask for details if necessary.

Interested in a claim? Contact us now! 01752 546448 Make an appointment