Probate Solicitors Limited - Specialists in estate administration

Fixed Fee Probate Service

How much is the fee?

At Probate Solicitors Limited we offer a fixed fee service because we know that what you want is a quality, specialist service at a fixed price. Most other law firms quote both a percentage AND an hourly rate for the work done.

PSL are different, we simply charge a fixed percentage with no hourly rate on top. Our fees usually range from 1% to 1.5%, depending on the complexity of the estate. We will be happy to give you a firm quote without obligation.

What will it cover?

There are many responsibilities that come with administering an estate.  Probate Solicitors Limited are specialists in administering estates and our service covers; legal work, tax advice, administering the estate and property related requirements.

Legal Work:

We would normally expect to undertake the following legal work:

  • Preparing documentation to apply for the Grant of Representation
  • Checking the validity of the will
  • If no will, establish who is entitled to apply for a grant
  • If no will, establish who is entitled to receive a share in the estate
  • Applying to the Probate Registry to obtain the Grant
  • Placing the necessary notices
  • Distributing the estate
  • Advising whether a deed of variation is prudent
  • Dealing with any claims against the estate

 

Tax Advice:

The type of tax work we would expect to get involved in:

  • Corresponding with HMRC
  • Claiming reliefs / rebates
  • Calculating tax owed
  • Completing the Inheritance Tax Return & schedules
  • Claiming transferrable spouse relief where applicable
  • Completing pre- and post death Income Tax returns
  • Dealing with Capital Gains Tax
  • Dealing with payment of any tax owed

 

Administering the estate:

The general administration of the estate will include dealing with:

  • Banks/building societies
  • Government bodies
  • Utility companies
  • Insurance companies
  • Creditors
  • Debtors
  • Valuing all assets (in England and Wales)
  • Transferring jointly held assets (in England and Wales) into sole name
  • Setting up trusts in relation to the estate
  • Preparing the estate accounts
  • Distributing the estate
  • Reviewing the will of the surviving spouse (new will at extra cost)

 

Property related requirements:

Practical elements that we may also undertake or advise on are:

  • Contacting the buildings and contents insurer
  • Re-direction of mail
  • Transferring ownership of property
  • Registering any unregistered property with the Land Registry
  • Managing the sale of the property through an estate agent, local to where the deceased lived
  • Managing the conveyancing process

There may be fees associated with some of the above services which are not included in our fixed fee; for example the estate agent’s fee for selling a property and court fees.  When we pay this on your behalf it is called a disbursement and is charged back to you, in addition to our fixed fee.  We only charge back to you what we have actually paid out or incurred a liability to pay.

Additional Services
In addition to all the services above we can help you with other matters that may come to light once the administration process is underway.  These additional services might include:

  • Preparing a Deed of Variation
  • Arranging a loan to pay IHT if necessary
  • Completing unpaid income tax returns
  • Managing other assets which require specialist knowledge (e.g. Foreign assets, Agricultural assets & Business assets)

 

After the estate is distributed – investing your legacy

At Probate Solicitors we deal, on a daily basis, with beneficiaries of wills who are unsure as to what to do with the legacy they have received.  Everyone’s circumstances are different depending on what stage of life has been reached.
If an elderly husband has died and left an elderly wife then the main consideration for her legacy is how best to invest her money to provide for her continued care.

For a son or daughter inheriting from an elderly parent their main concern will be investment and wealth maximisation to improve their quality of life for the future.

We have many contacts within the independent financial sector who are experienced in this area and we would be pleased to recommend a specialist IFA who will understand your circumstances and will be able to advise you on a range of different investments to suit your personal circumstances.

If you would like to talk to us about administering an estate please contact us on 01564 758055

 

Home | Contact Us | About Our team | What We Do | Client Login | News | Resources & Downloads | Links | Legal Notices | Diversity | Complaints Procedure | Client Feedback | Sitemap

Probate Solicitors Limited t/a PSL is authorised & regulated by the Solicitors Regulation Authority in England and Wales No. 545298   
Registered in England & Wales Company No: 07275702.       Registered Office: 1705 High Street, Knowle, Solihull B93 0LN       Website by briefclick