Probate and Estate Administration Procedure
Helping clients with Probate and Estate Administration in Whitley Bay, Monkseaton, North Shields, Wallsend, Newcastle upon Tyne, North Tyneside and Northumberland
Estate Administration is the process of dealing with a person's legal and tax affairs following their death, whether or not there is a Will. This means dealing with all of their assets (property, shares, cash and personal possessions), paying debts, reviewing and paying taxes that may be due and transferring the assets or cash to the beneficiaries of the estate. Estate Administration is required after every death and can be very simple or more complicated. Every estate is different but all involve similar stages.
With 30 years' experience of will writing, probate and estate administration, we have administered hundreds of estates, large and small. Juliette Adie is a member the Society of Trust and Estate Practitioners, fully accredited by Solicitors for the Elderly, a fellow of the Association of Taxation Technicians and has the knowledge and experience necessary to finalise the estate efficiently and cost effectively to give you peace of mind. We can help with as many of the necessary tasks as you require and when we receive all of the necessary information, we will give a fixed price for the agreed work. If you are not able to give us all of the information before we start, we will give a price for the agreed work and review the situation when more details become available. We do not ask for payment until our work is complete.
If you would like us to obtain the Grant of Probate (whether or not there's a Will), where no Inheritance Tax forms are required and we are provided with probate valuations of all assets and liabilities, our fee will be fixed at £395.00 and the Probate Registry is likely to take around 16 weeks to issue Probate where there is a Will but can take much longer where there is no Will. If we need to collect information, then additional fees may be incurred. Upon receipt of the Grant of Probate, we will send this to the Executor or Administrator to allow them to complete the process by collecting in the estate assets, paying any outstanding debts, preparing Estate Accounts and then distributing and/or transferring the assets to the beneficiaries named in the Will or entitled under the intestacy rules.
If you would like us to obtain the Grant of Probate (whether or not there's a Will), where Inheritance Tax forms are required and where we are provided with probate valuations of all assets and liabilities, our fee will vary depending upon the number of assets in the estate and whether or not there is Inheritance Tax to pay. We will be able to give an accurate estimate of the legal fees when we have details of all the number and type of assets in the estate but it is likely to range from £700.00 to £1,200.00 in most cases and the process if likely to take an additional 6 to 8 weeks to obtain the receipt from HMRC. Although we can collect the necessary information, additional fees may be incurred. Upon receipt of the Grant of Probate, we will send this to the Executor or Administrator to allow them to complete the process by collecting in the estate assets, paying any outstanding debts, preparing Estate Accounts and then distributing and/or transferring the assets to the beneficiaries named in the Will or entitled under the intestacy rules.
Full Estate Administration (whether or not there's a Will)
All cases are individual and we can do as much or as little as you ask us to do at a price fixed before we start, whenever possible, and payable when the work is complete. This firm will charge only for time spent working on the matter and agreed in advance to reflect the simplicity or complexity. We do not make additional charges based on the value of the estate. We can contact banks and other institutions to obtain probate valuations of the assets and liabilities, obtain valuations of property (if applicable) and organise the sale of property (if applicable), obtain valuations of shares (if needed), arrange a home contents valuation (if applicable), contact utility companies, arrange postal redirection (if applicable). We will use the information to prepare the paperwork for the Probate Registry and HMRC (where necessary). The Executor(s) or Administrator(s) is then asked to check and approve the paperwork before it is sent to the Probate Registry and HMRC to apply for the Grant of Probate. Where appropriate, we will aim to ensure the Inheritance Tax is paid within the HMRC guidelines, complete Income Tax work for the year of death, review the estate for Capital Gains Tax, set up any Trusts that may be in the Will, arrange the sale or transfer of shares, settle all debts and administration expenses, produce Estate Accounts for the approval of the Executor(s) or Administrator(s) and distribute funds to the Beneficiaries named in the will or entitled under the intestacy rules.
When we receive details of the estate from you, we will be able to give you a bespoke cost estimate and the time involved at the outset of your case which will only be reviewed if supplementary items or unforeseen matters arise during the course of the estate administration. Fees are usually payable when the work is complete. Disbursements to be added to our fee, where applicable:-
Disbursements to be added to our fee, where applicable:-
Disbursements are costs related to your matter that are payable to third parties, such as Inland Revenue and Probate Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process:-
- Probate Court fee will be £300.00 (where the gross estate exceeds £5,000.00) plus £1.50 per sealed copy of the Probate
- Land Charges Department Bankruptcy only searches (£2.00 per beneficiary)
- Trustee Notices in The London Gazette and a Local Newspaper to protect the executors against unexpected claims from unknown creditors approximately £270.00
- Inheritance Tax which is based mainly on the value of the estate HMRC Inheritance Tax Calculators
- Land Registry fees from £40.00 based on the value of the property to be transferred
- Search of the National Will Register to check for lost or more recent wills fee £140.00
