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Probate

Dealing with the estate of a departed loved one can be stressful and upsetting at what is already a very difficult time. We understand that and are here to take that burden away from you. We offer fixed and capped fees to ensure that you have complete peace of mind.

A couple getting advice from someone about Probate

Our expert team will handle everything for you and allow you to start to move on with your life while we tidy up all the loose ends of the estate and execute the will on your behalf. If there was no will, we will make the necessary enquiries and ensure the relevant rules are followed.

Our Service

Your case will be handled by Michael Vincent who is a Solicitor and Partner in this firm with seven years post qualification experience and more than ten years’ experience working in the legal sector.

He is supported by Matthew Vincent, a trained Barrister, who provides general assistance on such cases.

Unless we are instructed otherwise, we will:

  1. Obtain balances on all bank and building society accounts;
  2. Request balances on any shares, ISAs or other investments;
  3. Arrange the valuation of any property and any items of value;
  4. Obtain details of all debts of the estate such as any unpaid utilities, loans or credit cards;
  5. Request a copy of the funeral account;
  6. Prepare the relevant oath and inheritance tax return;
  7. Provide advice on how to have the oath executed at another firm as we are unable to do so having drafted it;
  8. Deliver the relevant documents to the Probate Registry;
  9. Upon receipt of the grant, prepare and issue an estate account to the relevant parties;
  10. Gather in the assets of the estate;
  11. Make payments of any debts and expenses;
  12. Pay the beneficiaries of the will or the people entitled to receive the estate in the absence of a will;
  13. Finalise all matters.

How long cases like this depend upon their complexity, but typically from the date of instruction a matter takes between 3 and 9 months to conclude.

The key stages of the process are the compiling of the information to apply for the grant, the issuing of the grant, the gathering in of the assets and the distribution of the assets.

How much does probate Cost?

Your matter will be handled by one of our directors and we will charge £210 plus VAT at 20% of £42 totalling £252 per hour plus disbursements.

A typical, straightforward application for a grant of probate will take between 4 and 15 hours and so we estimate a cost of between £840 plus VAT oat 20% of £168 totalling £1,008 plus disbursements and £3,150 plus VAT at 20% of £630 totalling £3,780 plus disbursements.

Estates will cost towards the lower end of the bracket if there are only a few bank accounts and beneficiaries, few debts and the executors are aware and have evidence of the value of all assets and liabilities either prior to or soon after our instructions and we are not required to obtain these.

Those estates with numerous beneficiaries, that create trusts, have numerous bank accounts and or assets and work is required in obtaining values of assets and liabilities and valuations of assets.

This is for a simple estate and assumes the following:

  1. that there is a will or, in the case of an intestacy, there is no dispute as to the rightful beneficiaries of the estate;
  2. there are no disputes regarding the estate;
  3. there are no foreign assets;
  4. the deceased owned only one property; and
  5. the value of the estate other than any property is lower than £500,000.

If you wish to instruct us on a probate matter and the estate would not meet the above criteria, we are happy to provide you with a bespoke estimate of our fees for your case.

Our disbursements are typically comprised of the following:

  1. £155.00 (there is no VAT as there is no VAT on court fees) paid to the Probate Registry for obtaining the grant;
  2. £1.50 (there is no VAT as there is no VAT on court fees) per additional copy of the grant;
  3. advertisements in the London Gazette and a local newspaper (the cost of which vary) to protect the executors against claims, should these be considered appropriate; and
  4. the cost of any valuations; and
  5. any other costs incidental to the estate.

Time

Typically, from the date of our instruction probate matters take between 6 and 12 months. It takes around 12 weeks from the date the application is sent to the Probate Registry for us to receive the grant back. It will take longer if the estate is one that must pay inheritance tax.

Call us today on 01253 858231 or e-mail info@mjvlaw.co.uk to see how we can help you.