PRIVATE CLIENT – FEE GUIDANCE

WILLS

Our fees start at £200 plus VAT for a single Will and £350 plus VAT for a pair of Wills.

If you require a more complicated arrangement, such as incorporating Trusts then an estimate can be provided.

Our Wills are prepared by an experienced Solicitor.

Lasting Powers of Attorney £395 plus VAT for a single document but if more than one a discount is applied. There is a fee of £82 (subject to waivers on financial grounds) for each LPA that is registered.

All work will be undertaken by Jennifer Walker (a Director), Robert Kynan (an experienced Private Client Solicitor) and our two secretaries Lisa Foley and Sarah Church.

ESTATE ADMINISTRATION

There are various options in this respect:

A full service where all the work involved is undertaken by this firm to a Grant only service whereby the valuations relating to the estate are provided to us and we prepare the application for the grant of probate (if there is a Will) or letters of administration (intestacy).

Our full service includes ascertaining assets and liabilities, obtaining valuations as at the date of death, preparing the relevant Inheritance Tax forms, obtaining a reference number for taxable estates, collecting in assets, arranging for funds to be made available from the estate savings if Inheritance Tax is due, ascertaining any relevant lifetime gifts which may increase the Inheritance Tax liability, lodging the application for the Grant of Representation, dealing with outstanding income tax returns ( or liaising with accountants already acting)  , settling liabilities,  corresponding with the Executors and beneficiaries and preparing final accounts for the approval of the Personal Representatives.

Once details of the estate have been ascertained we can usually provide you with an estimate of our fees. If this firm is appointed as sole Executors, then a value factor element of 1% of the value of the estate is added (apart from the main dwelling where the fee is half a percent added) in addition to the charge for time spent. This further value factor charge only applies if the firm are the sole executors of the estate.

Our fees are calculated on a time basis at £200 per hour. Our service as set out above will not include dealing with property sales, which will be charged for separately.  If litigation arises relating to the estate this will not be covered in the above guide. If the estate is insolvent, please advise so that we can provide a guide as to our charges and whether the estate will pay our fees or if another source will be required.

Our grant only service starts from £850 plus VAT. There will also be some third-party payments, which typically would be as follows:

  • The probate court fee payable to HMCTS to issue the grant will be £155 plus £1.50 per copy grant. Please note the fees due to HMCTS are reviewed so they could vary.
  • We may need to obtain office copy entries for a property which cost £3 plus VAT and bankruptcy searches are undertaken on beneficiaries at a cost of £2 each plus VAT.
  • In certain cases, a Trustee Act advertisement may be needed, which would usually cost about £200.
  • In respect of a chargeable estate, we would suggest that a surveyor might be employed to provide a valuation as at the date of death.

An intermediate service is available where we undertake more than just obtaining the grant but less than the full service. An estimate can be supplied but we will need full details of the estate and any relevant lifetime gifts. This service would usually be between £1850 to £2900 plus VAT and disbursements. In cases where the Will is missing, or beneficiaries cannot be located the time scales may be longer.

All work will be undertaken by Jennifer Walker (a Director), Robert Kynan (an experienced Private Client Solicitor) and our two secretaries Lisa Foley and Sarah Church.

TIME SCALE

This is difficult as following reorganization the probate courts service has slowed down.

An application will usually take 10 weeks from the date of application to be issued. If it is a taxable estate, then the timescale may be longer as confirmation of the Inheritance Tax payment will be required before the grant can be issued. If there are investments in the estate, then again, we will be dependent.

The preparation of the application for the grant of representation will depend upon the circumstances of each estate. This will usually be between ten to twelve weeks but expedition can be requested if required.

 

 

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