Probate is the term generally applied when a person dies, as to the legal method of collecting and distributing their estate (i.e. home/car/monies etc) in accordance with legal requirements. If a person dies having made a will then the person authorised by the will (the executor) will have that legal responsibility. If no will has been made, the deceased is said to have died intestate and the authority to distribute the estate is decided according to the general law of England and Wales. Except in specified cases i.e. "Small Estates", the executor/administrator will need to apply to the Probate Registry for a grant authorising them to administer the deceased's estate.
Lincoln Watts & Leeding (LWL) are regulated by the Solicitors Regulation Authority (SRA). Under the SRA Transparency Rules all such legal practices are required to publish information on prices and services in respect of specific types of legal work undertaken by them – including Probate work.
Our hourly charging rate is £250 plus VAT. We will endeavour if possible at the outset of the matter to provide a general overall estimate of charges although this may not always be possible until the full value and nature of the estate assets is known.
A straight forward Probate (IHT205 – non-taxable Estate) takes between 10 – 14 hours (£2500 - £3500 plus VAT plus disbursements) to administer.
If it is at taxable estate (IHT400) then you are often looking at 14 – 20 hours work £3500 - £5000 plus VAT plus disbursements) to administer.
On top of this there will be a number of disbursements (i.e. out of pocket expenses) to be paid. A typical transaction would include the following.
If the administration of the estate includes the sale of a property, there will be a separate conveyancing fee payable. Unlike some other Solicitors we do not charge a higher fee for conducting the conveyancing - please refer to our https://lwlsols.co.uk/conveyancing
Inheritance Tax may be payable on the estate, dependent upon the total value of the deceased's assets and whether any exemptions can be applied. We will be pleased to give you an estimate at the outset of the Tax payable. Please note that HMRC regulations require the Tax to be paid in full before they authorise the issuing of the grant.
Stages of the process
Lincoln Watts & Leeding is Authorised and Regulated by the Solicitors Regulation Authority - SRA number 639401
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