Probate & Estate Administration – Rickards And Cleaver

There are a wide range of duties that Executors/Administrators of an Estate have to carry out, including valuing the Estate, applying for the Grant of Probate, writing letters of administration, preparing Estate accounts, collecting in the assets, paying debts and taxes and making distributions to the beneficiaries.
Detailed advice can be given on all the above in order that the administration of the Estate is dealt with in a practical and efficient manner.

We offer a straight forward and clear approach. All probate work is undertaken by Liz Garratt, Partner with Rickards and Cleaver, who has well over 18 years experience in this field. She is ably assisted by her Personal Assistant, Sharon Croucher who has over 33 years experience in such a role.

Pricing

We anticipate that this work will typically take between 8 to 12 hours at an hourly rate of £198 per hour. The exact cost will depend on the individual circumstances of the matter. Our best estimate of costs without knowledge of the deails of the case are:

Lower Range

£2000 plus vat (currently 20%) thus £2400

Middle Range

£3000 plus vat (currently 20%) thus £3600

Upper Range

£5000 plus vat (currently 20%) thus £6000

The quote for the lower range above is for estates where:

There is a valid Will

There is no more than one property

There are no more than 1 to 3 bank or building society accounts

There are no other intangible assets

There are 1 to 3 beneficiaries

There are no disputes between beneficiaries on division of assets.

If disputes arise this is likely to lead to an increase in costs

There is no inheritance tax payable and the executors do not need to submit a full account to HMRC.

There are no claims made against the estate

Potential additional costs

If The estate consists of any share holdings there are likely to be additional costs.

If any additional copies of the grant are required, they will cost £1.50 per copy.

obtaining the Grant can take up to 16 weeks, but typically takes 4 to 8 weeks.

Time Scales

Obtaining the Grant can take up to 16 weeks but typically takes 4 to 8 weeks. Dealing with the actual administration of an estate can vary immensely from case to case depending upon several factors. These may include the number of investments, whether a property is involved, the existence of known assets whose whereabouts are unknown or the existence of beneficiaries whose whereabouts are unclear As a minimum, it typically takes around 8 to 10 weeks to wind up an estate but more complex cases can take up to 2 years or even longer.

Disbursements

Probate court fee - at £300.00

Bankruptcy - only Land Charges Department searches - at £2.00 (per beneficiary).

Post in the London Gazette and a Local Newspaper - at £450.00 – £500.00 ( to help protect against unexpected claims)

As part of our 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

Accurately identify the type of Probate application you will require

Obtain the relevant documents required to make the application

Complete the Probate Application and the relevant HMRC forms

Draft a statement of truth for you to decalre

Submit the application to the Probate Court on your behalf

Obtain the Probate and securely send copies to you

Estates liable to Inheritance Tax

If the estate is liable for inheritance Tax, our fees could range between £3,000.00 to £6,000.00, plus any disbursements. If an estate is has no liability for inheritance tax, but a redistribution of the assets is to be considered through a Deed of Variation, the costs would be £400.00 + VAT (£480.00)

Redistribution of Assets

In certain circumstances, family members may wish for the assets to be distributed otherwise than in accordance with the Will of the deceased or if no Will has been left, as the law relating to Intestacy dictates. All affected beneficiaries would have to consent to such an arrangement but if so then we would be able to draft a Deed of Variation the costs of which would amount to £400 plus VAT (currently 20% and thus £80.00) making a total of

Simply obtaining a Grant of Probate / Letters of Administration

If you are comfortable and happy to deal with the administration of an estate yourself and simply wish for us to obtain a Grant of Probate/Letters of Administration, we are happy to do so. Our fixed fee of doing so will be £500 plus VAT (currently 20% thus £100.00) bringing the total to £600.00 plus the probate court fee listed below but if the estate is subject to Inheritance Tax then the fee is £ 750.00 plus VAT (currently 20% thus £150.00) making a total of £900.00 plus the probate court fee. Probate court fees are currently £300 There are additional disbursements of £1.50 for each additional certified copy of the Grant of Probate/Letters of Administration you may require. Timescale Obtaining the Grant can take up to 16 weeks but typically takes 4 to 8 weeks.

Contact Info

Rickards & Cleaver
100 King Street,
Alfreton,
Derbyshire
DE55 7DD

01773 832204

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