Family assets and the welfare of your dependents need to be secured to the best of your ability.
No matter how modest and straightforward or extensive and complex they may be, your assets should be managed in the most tax-efficient way and according to your wishes and be passed onto your heirs without undue taxation or delay. This can best be done by having a Will, prepared by an experienced solicitor who takes the time to understand your individual circumstances and preferences.
At any time, illness or an accident may mean you can no longer manage your business and family affairs. We can make sure you have a Lasting Power of Attorney in place so that a trusted friend or relative can manage your affairs for your benefit and your dependents. If it is too late to plan ahead and someone you care for is no longer able to make rational decisions, we can still help you using the provisions of the Court of Protection.
During Probate, our experienced lawyers will provide support and practical advice to your dependents whilst making sure that the legal necessities are attended to properly.
Bill Mitchell is a consultant solicitor and head of our conveyancing department and a probate lawyer with a wealth of experience. Bill Mitchell supervises the Probate Department. Bill has worked on a variety of probate matters over the years and has an exceptional knowledge of all matters regarding probate, wills, power of attorney and court of protection.
Abbey Solicitors Wills & Probate services include the following
- Preparing your Will
- Effects of divorce/re-marriage
- Lasting Powers of Attorney
- Court of Protection matters
- Inheritance tax advice
- Lifetime gifts/settlements
- Gifts to charity
- Passing on family assets
- Establishing/managing trusts
Abbey Solicitors Probate Fees, Probate Grant Only
We can help you through this difficult process by obtaining the Grant of Probate on your behalf.
How much does this service cost?
TOTAL: Fixed fee of £1,750 plus VAT and disbursements
This includes: preparing the IHT form and the oath for swearing, submitting the application to the Probate Registry and obtaining the grant.
Breakdown of costs:
Legal fees £1750
The VAT on legal fees is £350
In addition, there are disbursement costs which are usually passed on to the Estate of
Disbursements:
- A probate court fee of £155.00 (No VAT payable)
- Bankruptcy-only Land Charges Department searches (£2.00 per executor and beneficiary and No VAT payable)
- £6.00-£12.00 Land Registry Official Copies (for Property) (No VAT Payable)
- Electronic Identification Check (£4.20 per executor and beneficiary, VAT may be payable depending on the provider)
- £83.40 Post in The London Gazette – Protects against unexpected claims from unknown creditors. (VAT may be payable depending on the provider)
- £138.00 Post in a Local Newspaper (Echo) – This also helps to protect against unexpected claims. VAT may be payable depending on the provider)
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
- Obtain the relevant documents required to make the application
- Accurately identify the type of Probate application you will require
- 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
- Collect and distribute all assets in the estate
Typically, obtaining the grant of probate takes 8-12 weeks, depending on how quickly the executors are able to provide the date of death valuations for assets and liabilities.
Potential additional costs
- If there is no will or the estate consists of any shareholdings (stocks and bonds), there are 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 £0.50 (1 per asset usually)
- Dealing with the sale or transfer of any property in the estate is not included.
How long will this take?
On average, estates that fall within this range are dealt with within 9-12 months. Typically, obtaining the grant of probate takes 8-12 weeks. Collecting assets then follows, which can take between 6-8 weeks. Executors are advised to wait for a period of 6 months from the date of the Grant before distributing assets to protect themselves in the event that a claim is made against the estate under the Inheritance (Provision for Family Dependants) Act. Once this period has expired, we can prepare estate accounts and distribute the assets, which normally takes 4-6 weeks.
Key Stages and Timescales
Assessing the value
Assessing the value of the Estate after taking the liabilities from the assets – 1 – 3 months on average
Assessing Inheritance Tax
Assessing Inheritance Tax (IHT) Liability by determining if the assets are more than the IHT tax threshold after accounting for various reliefs – 1-3 months on average
Applying for Probate
Applying for Probate – 1 – 3 months on average
Informing interested parties
Informing interested parties – 1 – 3 months
Gathering assets
Gathering assets of the Estate – 3 – 6 months
Paying debts
Paying any debts owed by the Estate – 3 -6 months
Completing miscellaneous work
Completing any other miscellaneous work and ensure Executors duties have been fulfilled ahead of winding up the Estate – 6-7 months
Distributing remaining assets
Distributing remaining assets – 6- 12 months. The biggest asset in an estate is the deceased’s property and the sale of it can take between 6 – 12 months or longer.
Percentage Value of Estate
Where an Estate is of higher value or offers significant complexity, we may charge an additional percentage of the value of that Estate of between 0.5% and 1%. This figure would be agreed upon with the Executors of the Estate prior to it applying after the grant of probate.
Abbey Solicitors Conveyancing Fees Guide
Abbey Solicitors charge the following fixed fees in relation to Conveyancing Transactions. Cost Estimates are provided for individual cases and may be higher should there be additional complexity to the case, for example, if there is a Fault in Title or there is Shared Ownership.
Sale Property Value | Typical Purchase Fees plus VAT |
Up to £150K | £695 |
£151K – £250K | £850 |
£251K – £395K | £900 |
£400K – £900K | £1,100 |
£950K Plus | TBA |
Purchase Property Value | Typical Purchase Fees plus VAT |
Up to £150k | £695 |
£151k to £200k | £795 |
£251K – £350K | £950 |
£351K – £450K | £1,100 |
£500K – £600K | £1,250 |
£650K – £950K | £1,500 |
£1M Plus | TBA |
Add £195 supplement for Leaseholds |
The fixed fee quoted includes the submission of the Stamp Duty Land Tax Return. Stamp Duty is charged at the relevant current rate imposed by the HMRC.
In addition to the fixed fees quoted, there is an additional charge of;
£30 plus VAT for the Electronic Transfer of money
£6 plus VAT for online verification of identification required to comply with Anti Money Laundering Regulation.
Disbursements.
A disbursement is money that is incurred and charged on the Client’s behalf.
We simply charge you the fee that we get charged with no uplift. Indicative prices for such charges are shown below.
Local Authority Search Fee – £189
Land registry priority search – £3
Land Registry Fees – £95
Further additional searches may be conducted on your behalf, including Environmental Searches. The prices for each will be provided prior to them being incurred. The disbursements quoted above are all subject to VAT which is currently charged at 20%, unless otherwise