Dealing with an estate can be complicated, especially at what is, often, a very challenging time; it can take months and making sure everything is done properly can involve a great deal of unwelcome stress. Our solicitors can handle this for you with our fixed fee estate administration services.
Every estate is different, which is why we provide a range of services to make sure that you get the right amount of support at the right fixed price to meet your individual circumstances.
The Small Estates Service is right for you if:
- You want us to deal with the entire estate administration
- The net estate is worth less than £325,000
- There are no more than five beneficiaries, AND
- There are no more than 10 institutions / providers with whom the deceased held assets, who we need to deal with
The Small Estates Service includes:
- Consultation explaining the process involved
- Where there is no Will, acting on behalf of the administrators of the estate
- Where there is a Will, acting on behalf of the executors of the estate
- Collecting information on the value of the assets of the estate
- Arranging payment of funeral costs
- Dealing with property related matters (insurance, utilities, council tax)
- Completion of the short Inheritance Tax form (IHT205)
- Drafting the Oath in support of the application
- Obtaining the Grant of Probate or Letters of Administration
- Competing closure forms and collecting in the assets
- Payment of known debts and liabilities in the estate
- Reclaim of income tax (if the deceased was not a self-assessed tax payer)
- Preparing the estate account
- Payment of all legacies
The Small Estates Service does not include:
- Advice relating to the legal validity of the Will or the meaning of the Will
- Undertaking searches to look for a Will
- Identifying beneficiaries of the estate
- Where the deceased was domiciled abroad or there are significant foreign assets
- Where the short Inheritance Tax form is not appropriate, and the long Inheritance Tax form is required
- Transfer of Inheritance Tax nil rate band
- Registration / notification of death
- Dealing with any business owned by the deceased
- Placing statutory notices
- Any property conveyance
- Inheritance tax, income tax or capital gains tax issues
- Any disbursements (Probate Registry fees, oath fees)
- Any variations to the estate
- Conduct of the matter where a dispute between the parties arises
- Matters where we estimate it will take us more than 15 hours to complete the estate administration
The fixed fee applies to the service described. We will confirm to you at the outset, or as soon as it becomes clear, if any additional work is needed outside the terms of the service. If this is the case, we will let you know as soon as possible and agree with you how any additional work is to be charged.
Costs for undertaking the above work are anywhere between £1,500 + VAT and £8,000 + VAT depending on the size and complexity of the estate.
Timescales for the above are dependent on the size and complexity of the estate and will be advised once these details are known (it is worth noting that the Probate process can take between 6 – 12 months in some cases).