From 6th December 2018, all regulated law firms in the UK had to be price transparent across a number of common services including Probate.
Probate is the term used for administering an estate and obtaining a Grant of Representation. It is a process that many of us will be involved in at some point in our lives whether as an executor or beneficiary. At Emery Johnson Astills, we understand that the administration of an estate is a difficult time and that it is not a straightforward task, especially if you haven’t done it before. We have dedicated Wills and Probate Team that can assist you with Probate and make the process as simple as possible.
The key stages of the administration of an estate are as follows:-
- Taking initial instructions from and advising executors/personal representatives
- Obtaining date of death values for all assets and liabilities
- Conducting searches such as a Will search and asset search and placing statutory notices
- Completing the appropriate inheritance tax form
- Preparing an Oath to be sworn by the executors/personal representatives
- Applying to the Probate Registry for a Grant of Representation
- Dealing with the assets and liabilities in the estate
- Preparing estate and distribution accounts
- Distributing the estate in accordance with the Will or the rules of intestacy and obtaining receipts
Finalising any liability for income and capital gains tax during the administration period
The administration of a straight forward estate should take between 6 and 12 months and the fees involved in a probate matter can vary depending on the individual circumstances involved. At Emery Johnson Astills, we generally charge an hourly rate which means that you pay for the work actually carried out. We can offer a fixed fee upon request.
If you would like information about our Probate Pricing, have a look at our Probate Pricing page.
You may wish to also have a read of one of our previous article titled “Probate and Estate Administration: Grant of Representation” which discusses the different types of Grants of Representation that can be applied for.
If you would like more information about Probate or if you have any questions, please do not hesitate to contact our Wills and Probate Team on 0116 2554855 (Leicester) or 01509 610 312 (Loughborough).