PROBATE

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.

Unlike many other Solicitor Firms, Banks or Probate companies, we do not base our charges on a percentage value of the Estate which we regard as being unfair and instead only charge for the work that we undertake on your behalf.

The exact cost will depend on the individual circumstances of the matter. It will also depend on whether you wish us to simply apply for the Grant of Probate/Letters of Administration only (DIY) or whether you wish for us to apply for the Grant of Probate/Letters of Administration and carry out a full administration of the estate (FULL ADMINISTRATION)

OUR FEES

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.

DIY OPTIONS

We have 2 DIY options available:

1. Grant/Letters of Administration Application only on a non-taxable estate or an estate where NO IHT400 and accompanying Schedules are required; 

or

2. Grant/Letter of Administration Application only on a non-taxable estate where the IHT400 and accompanying schedule ARE REQUIRED or it is simply a taxable estate

1) Grant/Letters of Administration Application only on a non-taxable estate or an estate where no IHT400 and accompanying Schedules are required

The following information is for obtaining a Grant/Letters of Administration Application on a non-taxable estate or an estate where no IHT400 and accompanying Schedules are required.

Executors/Administrators will then deal with the administration of the estate after we have obtained the Grant/Letters of Administration.

‘Non-taxable estates’ means estates worth under £325,000 for a single or a divorced person with no children and where there is no inheritance tax to pay or £650,000 for a married couple with no children and where a transferrable Nil Rate Band is available and there is no inheritance tax to pay.

 This quote is for estates where:

• There is a valid will or there are clearly identifiable beneficiaries under the Intestacy Rules
• There is at least 1 one Executor/Administrator prepared to apply for the Grant of Probate/Letters of Administration
• The Executor/Administrator provides full details/valuations of all assets and debts in the estate at the time of death
• There is no inheritance tax payable
• the executor/administrator are not required to complete the IHT400 and accompanying Schedules
• There are no claims made against the estate

Costs:

We can offer a Fixed Fee of £999.00 plus VAT plus disbursements. 

Other involved costs/disbursements:

These can include costs related to your matter payable to third parties.  We handle these on your behalf to ensure a smoother process. These include:

• Probate court fee – £273.00
• Per official copy of the Grant – £1.50 (you will need several copies depending on the size of the estate)
• Copies of Deeds from Land Registry - £3.60
• Land Registry searches - £3.60 per register or £7.20 if plan and register is needed per property search
• Identification/Anti-Money Laundering Checks required for each Executors - £20 plus VAT

Stages of process:

• Initial 1 hour Face-to-Face/Zoom meeting to explain the process involved, check identification and obtain the requisite details about the estate
• Completing the online Application and Legal Declaration required to apply for the Grant of Probate/Letters of Administration
• Obtaining the Grant of Probate/Letters of Administration

Our fees include:

• Providing you with a dedicated and experienced probate lawyer to work on your matter
• Accurately identifying the type of probate application you require
• Checking whether there is any available transferrable nil rate band from a deceased civil partner/spouse
• Completing the Probate Application online
• Drafting the requisite Legal Declaration statement/Statement of Truth to support your application for the Grant of Probate/Letters of Administration

2) Grant/Letter of Administration Application only on a non-taxable estate where the IHT400 and accompanying schedule ARE REQUIRED or it is simply a taxable estate

The following information is for obtaining a Grant of Probate/Letters of Administration only for a taxable estate or where the IHT400 and accompanying schedules are required for a non-taxable estate.

Executors/Administrators will then deal with the administration of the estate after we have obtained the Grant of Probate/Letters of Administration.

‘A taxable estate’ means could mean any of the following (list not exhaustive and used for illustrative purposes only - as the available tax-free nil rate bands will ultimately depend on individual circumstances as to whether the Estate will be liable to inheritance tax or not:

• An Estate worth over £500,000 where the Deceased was single and/or divorced at the date of their death but left property to surviving children/grandchildren and had the full tax-free nil rate band (£325,000) and full tax-free residence nil rate band (£175,000) available.
• An Estate worth over £650,0000 where the Deceased was the surviving civil partner/spouse and their deceased partner/spouse had left everything to them on their death with no children (2 x full tax-free nil rate bands available).
• An Estate worth over £1,000,000 where the Deceased was the surviving civil partner/spouse and their deceased/spouse had left everything to them on their death and they now leave everything (including property) to their children/grandchildren (2 x full tax-free nil rate bands and 2 x full residence nil rate bands available).

 This quote is for estates where:

• There is a valid will or there are clearly identifiable beneficiaries under the Intestacy Rules
• There is at least 1 one Executor/Administrator prepared to apply for the Grant of Probate/Letters of Administration
• The Executor/Administrator provides full details/valuations of all assets and debts in the estate at the time of death
• We will calculate the inheritance tax that is payable and advise you of the amount and the date this is required to be paid by but the Executor(s) will be responsible for paying the same
• A full account will be required to the HMRC – IHT400 Form and accompanying Schedules -to be approved and signed by the Executor(s)
• There are no claims made against the estate

Costs:

We can offer a Fixed Fee of £2,000.00 plus VAT plus disbursements. 

Other involved costs/disbursements:

These can include costs related to your matter payable to third parties.  We handle these on your behalf to ensure a smoother process. These include:

• Probate court fee – £273.00
• Per official copy of the Grant – £1.50 (you will need several copies depending on the size of the estate)
• Copies of Deeds from Land Registry - £3.60
• Land Registry searches - £3.60 per register or £7.20 if plan and register is needed per property search
• Identification/Anti-Money Laundering Checks required for each Executors - £20 plus VAT

Stages of process:

• Initial Face-to-Face/Zoom meeting to explain the process involved, check identification and obtain the requisite details about the estate
• Drafting the requisite HMRC Forms – IHT400 and accompanying schedules
• Advising the Executor/Administrator the amount of Inheritance Tax to be paid
• Completing the online Application and Legal Declaration required to apply for the Grant of Probate/Letters of Administration
• Obtaining the Grant of Probate/Letters of Administration

Our fees include:

• Providing you with a dedicated and experienced probate lawyer to work on your matter
• Accurately identifying the type of probate application you require
• Checking whether there is any available transferable nil rate band and transferable residence nil rate band from a deceased civil partner/spouse
• Completing the requisite HMRC Forms and after the same have been approved and signed by the Executor/Administrator sending them off to HMRC
• Liasing with the Executor/Administrator to ensure the inheritance tax is paid on time
• Once the HMRC have approved the HMRC Form and the amount of Inheritance Tax payable – we will then complete the Probate Application online
• Drafting the requisite Legal Declaration statement/Statement of Truth to support your application for the Grant of Probate/Letters of Administration
• Obtain the Grant of Probate/Letters of Administration

Please note that our DIY – Obtaining the Grant of Probate/Letters of Administration Service only fees do not include:

• Advice on the legal validity or meaning of the Will or Intestacy Rules
• Disputes or claims against the estate
• Advice relating to any further steps required to administer the estate
• Advice relating to the Executors appointment
• Where the deceased was domiciled abroad or there are significant foreign assets
• Registration/notification of death
• Organising valuations of assets in estate and checking they are accurate
• Dealing with any property related matters e.g. insurance, utilities, council tax
• Advertising of statutory notices
• Any conveyancing which may be required to deal with property in the estate
• Any Inheritance tax, income tax or capital gains tax issues
• Payment of any money gifts in the will
• Payment of debts and liabilities in the estate
• Collecting in assets and distributing them to beneficiaries
• Preparation of estate accounts
• Any estate expenses such as probate court fees
• Advice in connection with variation of the estate
• Conduct of the matter where a dispute between the parties arises

Alternatively, we can deal with the whole of the administration on behalf of the Executors.

FULL ESTIMATE ADMINISTRATION

Estate Administration

Every probate case is different and can involve a lot of complex work to identify all the assets involved and pay inheritance tax where applicable, so it makes sense to seek professional legal advice from a firm with a wealth of experience in dealing with probate.

We provide an initial free 1 hour consultation and if possible we will give you an estimate once we know the full size and complexity of the estate.

Costs:

For the full administration service, we charge the following hourly rates:

• an hourly rate of £301 plus VAT for any Solicitor or Legal Executive with over 8 years’ experience
• an hourly rate of £247 plus VAT for any Solicitor or Legal Executive with over 4 years’ experience
• an hourly rate of £197 plus VAT for any other Solicitors or legal executives and fee earners of equivalent experience
• an hourly rate of £138 plus VAT for Trainee Solicitors, paralegals and other fee earners

In addition to the disbursements mentioned above the following disbursement may also be application in the administration of the estate

• Bankruptcy searches – £2 plus VAT per beneficiary
• Post in The London Gazette – Protects against unexpected claims from unknown creditors. (you may choose not to incur this expense) -Approximate cost - £250 - £500
• Post in a Local Newspaper – This also helps to protect against unexpected claims (you may choose not to incur this expense) -Approximate cost - £250 - £500
• Share Valuation/Land Valuation/Property Valuation – cost will depend on valuer
• House clearances – cost depend on provider
• Missing asset searches from £25.00
• indemnity Fees for Missing Shares certificates– cost will depend on share register

Our fees for dealing with a full administration of an estate include:

• Ascertaining the assets and liabilities of the estate
• Calculating any inheritance tax due (if applicable)
• Obtaining the Nil Rate Band (and Transferable Nil Rate Band if appropriate) for Inheritance Tax purposes
• Obtaining the Residence Nil Rate Band (and Transferable Residence Nil Rate Band if appropriate) for Inheritance Tax purposes
• Completing the requisite IHT 400 Account for HM Revenue & Customs
• Dealing with the insurance of the property or properties within the estate
• Obtaining a Grant of Representation
• Collecting the assets
• Dealing with the shareholdings in accordance with your instructions
• Paying debts, taxes and administration expenses
• Selling assets, if necessary, to realise cash for the purpose of the administration;
• Transferring the assets to those entitled
• Dealing with the income tax affairs of the deceased for the tax year to the date of death
• Producing estates accounts
• Accounting to the beneficiaries

Our fees do not include:

• Any disputes or claims against the estate or regarding the validity of the Will or applicability of Intestacy Rules
• The preparation of a Deed of Variation (a fixed fee can be agreed for this)
• Dealing with the tax affairs (other than those for the Deceased for the tax year to the date of death) including any Inland Revenue investigation
• Any conveyancing fees incurred in dealing with the sale of estate property – a fixed fee for the sale of the Deceased Property will be applicable if we are instructed to deal with this
• Dealing with the deceased’s insolvency
• The need for the executors to commence litigation proceedings against a third party
• Monies transferred telegraphically to bank accounts

The fees for our service can vary depending on a number of factors including:

• How many beneficiaries there are
• If there are assets overseas
• If there is any property to be sold or transferred
• If there are multiple bank accounts
• If there are any disputes about the division of assets or claims against the estate
• If we need to deal with past years tax affairs
• If there are trusts, lifetime gifts, significant shareholdings, business and agricultural assets, or discounted gift trusts involved