PROBATE 

Probate is the process of dealing with the estate of someone who has died, which generally means clearing their debts and distributing their assets in accordance with their will.  If you're responsible for executing someone's Will, there are specific rules that set out how you notify the authorities and distribute the estate. For permission to manage this process, you'll need to apply for grant of probate.

The process for settling someone's affairs will depend on whether you choose to do it yourself, or appoint a professional to act on your behalf. Appointing a professional can be a good idea and, if you are dealing with a complex estate, could be essential.

We are called upon at a sensitive time when families are going through the stages of grief, but there is an acceptance that certain realities need to be addressed.

What can interrupt this healing process? Unnecessary stress. Anxiety. Unexpected obstacles. A gruelling or difficult estate administration experience. We do everything in our power to make sure that this doesn’t happen to the families that entrust us to take care of their estate administration.

We work with Kings Court Trust, the second largest probate provider in the country to help our clients through the probate process.  We offer several different solutions and which one is best depends on your circumstances.

Option One: Grant Only

Fee of £950 including VAT excluding the Probate fee

What is this?

We can obtain the Grant of Probate on behalf of the named Executor, if there is a Will or Administrator, if there is no Will. This allows the Executor and Administrator to collect in funds, pay any outstanding debts and then distribute and/or transfer the assets to the beneficiaries.

We will:

  • Ask the Executor or Administrator to complete a Fact Find, which will ask for key information about the deceased's assets and debts at the date of death.

  • Use the Fact Find to prepare the paperwork for the Probate Registry and HMRC (as this is always required) for signature.

  • Submit the application to the Probate Registry.

  • Upon receipt of the Grant of Probate, we will send this to the Executor or Administrator to allow them to complete the process.

Option Two: Grant and Assets

Fee of £1,450 including VAT excluding the Probate fee

What is this?

We can obtain the Grant of Probate on behalf of the named Executor, if there is a Will or Administrator, if there is no Will. This allows the Executor or Administrator to collect in funds, pay any outstanding debts and then distribute and/or transfer the assets to the beneficiaries.

There may be some assets that remain in the sole name of the deceased. If there are no more than three assets, we can collect in and pay, or transfer the assets to a maximum of two beneficiaries. This does not include property.

We will:

  • Ask the Executor or Administrator to complete a Fact Find, which will ask for key information about the deceased's assets and debts at the date of death.

  • Use the Fact Find to prepare the paperwork for the Probate Registry and HMRC (as this is always required) for signature.

  • Submit the application to the Probate Registry.

  • Upon receipt of the Grant of Probate, we will collect in the assets for distribution, or transfer them to the beneficiaries depending on the instruction of the Executor or Administrator.

  • We will then send you the Grant of Probate to complete the process and pay any debts, if required.

Option Three: Grant, Trust or Property

£1,950 including VAT excluding the Probate fee

What is this?

We can obtain the Grant of Probate on behalf of the named Executor, if there is a Will or Administrator, if there is no Will. This allows the Executor or Administrator to collect in funds, pay any outstanding debts and then distribute and/or transfer the assets to the beneficiaries.

If the deceased's Will contains a Trust of Property or a Nil Rate Band Discretionary Trust, these type of Trust need formalising to protect the interests of the ultimate beneficiaries. If the deceased solely owned property and this is to be transferred to beneficiaries, we can assist by preparing the paperwork.

We will:

  • Ask the Executor or Administrator to complete a Fact Find, which will ask for key information about the deceased's assets and debts at the date of death.

  • Use the Fact Find to prepare the paperwork for the Probate Registry and HMRC (as this is always required) for signature.

  • Submit the application to the Probate Registry and once received, send the Grant of Probate to the Executor to complete the process.

  • Where the deceased's solely owned property is to be transferred to the beneficiary(s), we will prepare the paperwork. Where a Declaration of Trust is required or if the property remains unregistered, we will prepare the Declaration of Trust to confirm ownership of the property and register the property with the Land Registry.

  • Where there is a property Trust, we will liaise with the appointed Trustees in the Will about the terms of the Trust. We will transfer the deceased's share of the property into the names of the Trustees at the Land Registry. We will also prepare a Declaration of Trust; this document confirms the ownership of the property.

  • Where there is a Nil Rate Band Discretionary Trust, we will advise the Trustees of the options available to them to deal with the Trust and prepare the necessary paperwork to effect their instructions.

Option Four: Full estate administration

Fee from £2,200 excluding VAT and the Probate fee

A full, fixed fee quote will be produced before you agree to any work being done.  We will be able to let you know the fee after we have completed our fact find.

What is this?

We can complete the full estate administration after being appointed by the named Executor or Administrator. This allows the Executor or Administrator to relinquish all legal and financial responsibility, removing the stress and hassle off their shoulders.

We will:

  • Contact utility companies

  • Value the assets and liabilities

  • Obtain property valuation and sale (if applicable)

  • Contents valuation (if applicable)

  • Postal redirection (if applicable)

  • Apply for the Grant of probate (Confirmation in Scotland)

  • Complete the relevant Inheritance Tax forms and supporting forms where necessary

  • 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

  • Selling or transferring shares

  • Register unregistered properties

  • Settle all debts and administration expenses

  • Distribute funds to surviving spouse of civil partner and obtain confirmation of funds received

  • Produce estate accounts

Please contact us if you would like a free home visit to discuss these services.

Dudley Office 

1 Hagley Court South

The Waterfront

Brierley Hill

DY5 1XE

01384 848286

Alvechurch Office

3 The Square

Alvechurch

Birmingham

B48 7LA

0121 445 3307

Alvechurch Legal Services Copyright 2020

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