Conveyancing Solicitors Bude & Holsworthy - Probate Department Paul Finn Solicitors



Bude
Holsworthy
Email: [email protected]

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Probate Costs

We can help you through this difficult process by obtaining the Grant of Probate on your behalf and administering the estate for you.


As part of our range of costs to deal with a probate matter 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 legal oath for you to swear • Make the application to the Probate Court on your behalf • Obtain the Probate and send you any sealed copies that you have requested we obtain Collect and distribute all assets in the estate We anticipate this will take between 10 and 20 hours work at £225 per hour. Total costs estimated generally between £2,250 and £4,500 (plus VAT) but can exceed this sum for more complicated work or for contested estates. We will handle the full process for you. This quote is for estates where: We will handle the full process for you. This quote is for estates where: • There is a valid will • There is no more than one property • There are no more than six bank or building society accounts • There are no other intangible assets • There are 1-6 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 (IHT400) • There are no claims made against the estate The exact cost will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property, costs will be at the lower end of the range. If there are multiple beneficiaries, a property and multiple bank accounts, costs will be at the higher end. We will provide you with a written estimate of our costs at the outset of the matter. There may be issues that arise during the course of the matter which mean we might need to revise our costs estimate. We will always notify you if we need to do this.
	Anticipated Disbursements: Disbursements are additional costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
	• Probate application fee of £215. If any additional copies of the grant are required, they will cost £1.50 (1 per asset usually). • Bankruptcy searches (£2 per beneficiary) • Approximately £160 for notices in The London Gazette and a local newspaper – This protects against unexpected claims from unknown creditors.

	Potential additional costs:

	• If there is no Will or the estate consists of any share holdings (stocks and bonds) there are likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with. We can give you a more accurate quote once we have more information. • Dealing with the sale or transfer of any property in the estate is not included.

	Additional Services:
	During the course of the matter it might be necessary to instruct third parties. This might for example be a valuer, surveyor or an accountant. If this is the case there will be additional costs.

	How long will this take?

	On average, estates that fall within this range of costs are dealt with within 5-15 months. Typically, obtaining the grant of probate takes 3-6 months. Collecting assets then follows, which can take between 1 to 2 months. Once this has been done, we can distribute the assets, which normally takes 1 to 2 months. This is only a typical timescale, more complex estates can take longer.

	Fixed Fee – Probate (where there is a Will)

	We can limit our work to just obtaining the Grant of Probate for you. You will be required to provide all the information we request in order for us to be able to prepare the probate application papers. As part of our fixed 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 legal Statement for you to swear • Make the application to the Probate Court on your behalf • Obtain the Probate and send you any sealed copies that you have requested we obtain. As part of our fixed fee service our work is limited to that outlined above and we will not write to banks and other organisations to obtain information and we will not collect and distribute all assets in the estate. We can do this for you but will need to provide you with a ‘range of costs’ estimate.

	How much does this service cost?
	Our legal fees for obtaining the Grant of Probate only when we need to apply using HMRC form IHT 205 would be in the region of £750 plus VAT. Our legal fees for obtaining the Grant of Probate only when we need to apply using HMRC form IHT 400 would be from £1,125 plus VAT (based on an estimated 5 hours work). There is additional work involved if we need to apply to transfer a Nil Rate Band or Residence Nil Rate Band and if this is the case we will make an additional charge of £225 plus VAT and disbursements for each claim. We will confirm to you at the outset of your matter what work needs to be done and whether we are able to deal with you matter on a fixed fee basis.
	Disbursements: Probate application fee of £215. If any additional sealed copies of the grant are required, they will cost £1.50 (1 per asset usually). How long will this take? On average, obtaining the grant of probate when we are instructed on a fixed fee basis takes between 3-8 months but does depend on various factors.

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Solicitors in Bude: The Strand, Bude, Cornwall, EX23 8SY SRA No: 464394

Solicitors in Holsworthy: 20 The Square, Holsworthy, Devon, EX22 6AN SRA No: 590812

Paul Finn Solicitors is a trading name of Paul Finn Solicitors Ltd. Company No: 6230052. Registered in England and Wales.
Registered Office: The Strand, Bude, Cornwall, EX23 8SY. VAT Reg No: GB 825 1887 11
Solicitors of England and Wales - Authorised and Regulated by the Solicitors Regulation Authority
Successor to the former firm of Finn & Busby and Sampson Solicitors