Estate Administration

 Losing someone you care for is an extremely difficult time. Straightforward matters may seem overly complicated and knowing where to start with a person’s Estate can seem like a minefield.

Estate administration is the process of dealing with a person’s affairs on their death.  It is often referred to as “probate.”

After registering the death, you should locate the current Will.  This identifies the Executors who are the persons legally responsible for administering the Estate.  With the Will, you can apply for a Grant of Probate which will then enable you to close accounts, transfer monies and distribute the Estate.

Where there is no Will, the intestacy rules apply and you will need to establish who must administer the Estate by way of a hierarchy of relatives.  Without a Will you will need to apply for Letters of Administration.  This document has the same legal affect as a Grant of Probate.

If you find yourself in the position of sorting out the financial affairs for someone who has died, you can appoint a representative to take care of all the legal matters on your behalf.

Touch Solicitors offers a sympathetic and dedicated service including:

•Helping with the funeral arrangements;
•Notifying organisations of the death of your loved one;
•Obtaining the Grant of Probate or the Letters of Administration;
•Ensuring all taxes are timely paid so you do not suffer any penalties; and
•Distributing the Estate in accordance with the wishes in the Will or terms of Intestacy.

We work with you and offer as much or as little help as you need.

For added peace of mind we can offer a fixed fee or an hourly rate to suit your needs.  We normally charge £850 plus VAT where there is a simple transfer on the death of one spouse. This includes completing the IHT forms, obtaining the Grant of Probate and arranging for the closure and transfer of assets.

A more complex matter would normally be charged at an hourly rate. Where we are instructed to act for an Estate, the our fees can range from £2,500-£10,000 plus VAT and disbursements. However, this clearly depends on the size of the Estate and the complications involved.

An estate over the inheritance tax threshold is a complex matter.  It requires a full detailed IHT400 with several additional forms, including liaising with the HMRC.  The process can be lengthy and whilst on average the probate matter can normally be dealt with in a six to eight month timescale, we do try to manage expectations by saying it can take up to a year to finalise the Estate.   Typical fees can range from £15,000 to £20,000.

There are no hidden costs or percentage uplifts on the value of the estate.  We can talk to you confidentially on the telephone before we meet, or you can come in and see us.

Testimonial

Mr Jones: “Extremely impressed at the ease of how my father’s probate was handled. Already a very difficult time for me, but I had one huge weight off my shoulders”