Administration of estates
We advise on the legal and tax issues arising from the death of somebody who has passed without a valid will, or when the nominated executors in a valid will cannot administer the estate themselves. We also assist individuals who wish to administer an estate, but need support securing a grant of probate. Partner Simon Vaile is a specialist contested probate lawyer, acting for clients when there is a dispute as to the gifting intentions of the deceased.
We charge for the Administration of Estates on an hourly rate basis. We offer a free, initial, no-obligation consultation. Having completed our fact-finding exercise, we will be able to provide you with a tailored estimate of our fees, based on the circumstances and complexity of the estate.
Numerous factors can impact the complexity of an estate, not limited to the number of beneficiaries and personal representatives, the number and type of assets and liabilities, whether there is a valid Will, and the existence of trusts.
Estates will typically take between 20 – 50 working hours to administer in full, with work being conducted by a Partner, Solicitor and Wills & Probate Specialist in a cost-conscious blended approach. Total fees are estimated at between £4,000 and £12,000 + VAT and disbursements.
If, due to unforeseen contentious issues, unusually complex circumstances or changes in your instructions, it becomes necessary to revise our estimate, we will write to you with a fresh estimate as soon as possible before incurring any additional costs.
Please note that our fees do not include disbursements, for example the statutory court fees, which we will pay on your behalf and charge back to you.
Our fees typically involve the following work:
1. Initial steps
Obtain evidence of identity for the executors and beneficiaries, in accordance with the Money Laundering Regulations.
2. Information gathering
Contact the asset holders such as banks, life insurers, share registrars and request probate valuations. Certain assets such as land and property will require professional valuations. Communicating with known creditors and establishing liabilities.
3. Contacting beneficiaries
Write to the beneficiaries (and any personal representatives, if applicable) advising them of their interest in the estate.
4. Lifetime gifts
Make enquiries as to whether the deceased made any lifetime gifts which require inclusion in the Inheritance Tax return.
5. Completing the Income Tax return form
Prepare and submit the deceased’s final Income Tax return from 6th April to the date of death.
6. Completing the Inheritance Tax return form
Prepare and submit the appropriate Inheritance Tax return where applicable.
7. Statutory adverts
We often recommend that the executors place statutory adverts in the London Gazette and local newspapers. This protects the executors by providing creditors with a two-month window of opportunity to come forward before the estate is distributed to the beneficiaries. The publications charge a separate fee, which will be charged to the estate as a disbursement.
8. Completing probate application to court
Prepare and submit the probate application to the court with any supporting documentation and respond to any requisitions raised by the court relating to the application.
9. Producing the Grant of Probate
When we have the Grant of Probate, produce it to the asset holders and begin collecting the assets. Pay any liabilities to the debtors.
10. Completing a corrective IHT return form where needed
Prepare and submit a corrective IHT return where adjustments are required.
11. Preparing the estate accounts
Prepare and submit the estate accounts for approval by the residuary beneficiaries. We will then attend to the distribution of the estate to the beneficiaries.
12. Applying for Inheritance Tax Clearance Certificate
Prepare and submit the inheritance tax clearance certificate using an IHT30 form, showing we have paid all the inheritance tax due under the estate.
13. Completing the Trust and Estate Tax return forms
Register the estate with HMRC for the purposes of income and capital gains tax where required and complete the Trust and Estate tax returns for each tax year of the administration period.
14. Completing statements of residuary income
Prepare and submit the statements of residuary income for the beneficiaries’ own tax returns.
Deceased Estate
| Our current hourly charge rates are: | |
|---|---|
| Partner | £320 (plus VAT) |
| Solicitor | £220 (plus VAT) |
| CLC Lawyer (Probate) | £200 (plus VAT) |
Obtaining the grant of representation only
As a Personal Representative of the deceased, you may wish to seek our professional assistance obtaining the Grant of Representation only. Once we obtain the Grant of Representation on your behalf, we will hand over to you to complete the Administration of the Estate.
We offer a free, initial, no-obligation consultation. Having completed our fact-finding exercise, we will offer you a fixed-fee quote for our services.
If you need assistance applying for a Grant of Representation, we offer:
| Tax calculation with Probate Application | Prices range from £1,300 to £2,300 + VAT, depending on complexity |
| Inheritance Tax return (IHT 400) with Probate Application | Prices range from £2,300 to £3,300 + VAT, depending on complexity |
In rare cases, where the estate involves contentious or unusually complex circumstances, our fees may exceed the prices indicated above. When we come across such circumstances unexpectedly, we will contact you to discuss the situation and the cost implications, and take instructions from you. We will charge for the extra work on an hourly rate basis and keep you informed about the costs as the matter progresses.
Please note that our fees do not include disbursements, for example the statutory court fees, which we will pay on your behalf and charge back to you.
We do not offer the Grant of Representation Only service in cases where there is Inheritance Tax to pay on the Estate.
This service does not include liaising with asset holders and creditors; we will request information regarding assets and liabilities directly from the Personal Representatives.
Estate planning and lifetime tax planning
| Our current hourly charge rates are: | |
|---|---|
| Partner | £320 (plus VAT) |
| Solicitor | £220 (plus VAT) |
We charge for our services in Estate Planning and Lifetime Tax Planning on an hourly rate basis. Please contact us to arrange an appointment.