FIXED FEE PROBATE PREPARATION
We offer a fixed fee service which starts at just £900. This price excludes the Probate Registry’s fee and VAT.
Most firms charge an hourly rate and many also charge a further percentage based on the value of the estate. Turner Little don't. Hourly rates can leave executors uncertain as to how much they will be paying at the end of the process. Percentage charges can mean estates with a single, valuable asset, a family house perhaps, can pay more than an estate with 10, 20 or more assets which total less in value.
Estates can vary in size considerably and whilst some executors are familiar with the process, most are carrying it out for the first time. Call us to discuss your specific circumstances and we can agree a fee for the level of service you need.
Our fixed fee means that you know from the start how much you will pay and you can talk to us freely at any time without worrying that the clock is ticking and your costs are increasing. Once agreed, the fee is fixed.
There are some costs which you may have to meet that are outside of our control and charged by third parties. These may include valuation fees when assets such as houses are valued, or the fees incurred for advertising for unknown creditors. In addition, conveyancing costs for the sale or transfer of properties are also charged by a third party.
Contact us on 01904 783101 to discuss the fixed fee which will apply.
GRANT ONLY SERVICE
This service is suitable for those executors and administrators who have both the time and expertise to deal with administering the assets of the estate themselves.
It is especially suitable where:
- an executor or administrator is familiar with the probate process;
- the estate has a limited number of assets; or
- the estate is low in value.
- The cost of our Grant Only Service for a typical estate is £850, including VAT and the Probate Registry’s fee
With this service we will:
- Advise you on the notices which may be given to reduce your liabilities as executor.
- Help you ascertain the correct figures for the deceased’s accounts and savings for probate purposes.
- Complete the relevant HMRC inheritance tax return.
- Draft an oath for the executors/administrators to swear.
- Apply to the court for a grant of probate or letters of administration.
- Deal with any queries which the Probate Registry has.
- Provide official copies of the grant to you. Where executors choose to use our Grant Only service they can upgrade to the Full Administration package at any time after we have been instructed. From that point we can take over the administration and you will only pay the fixed fee for that service.
- Using this service will make the process of obtaining probate quicker and more simple for the executors.
FULL ADMINISTRATION SERVICE
This service is suitable where:
- you are not familiar with the probate process or the estate;
- you do not have the time to devote to administering the assets; or
- the value of the estate is over £100,000.The cost of our Full Administration Service for a typical estate is £2950, plus VAT and the Probate Registry’s fee.*
With this service we will:
- Advise on the terms of the will.
- Assist you in collating information about the number and location of assets and debts.
- Advise you on the notices you can advertise in order to reduce your potential liability as executor or administrator.
- Identify the correct figures and arrange valuations for inheritance tax purposes.
- Complete and submit the inheritance tax return to HMRC. If necessary, advising on taking out an executor’s loan to cover the tax.
- Deal with HMRC in relation to any income tax or capital gains tax liability for years prior to the death and dealing with any tax liabilities that may arise during the administration.
- Dealing with the Department for Work and Pensions to ensure any benefits or pensions are stopped and handle any repayments.
- Liaise with utility companies in order to obtain a final account up to the date of death and where services need to be maintained, guiding the executors on their options.
- Guide the executors on the need to maintain adequate insurance cover on the deceased’s assets during the period of administration.
- Obtain the grant of probate or letters of administration.
- Arranging for legal notices to be advertised, if requested by the executors/administrators.
- Sending copies of the grant of probate/letters of administration to banks, building societies and other institutions holding money in order to obtain access to the deceased’s assets.
* There are some estates where the fee for this service may increase. These include estates:
- valued at over £600,000.
- with significant assets located overseas.
- which include business assets.
- which include farms.
- with more than 10 separate holdings of shares or similar assets.
- with actual or potential claims against it.
- some other unusual circumstances.
- If the estate falls within one of these exceptions, we will still be able to provide you with a fixed cost quote.
Please call us on 01904 783101 for more details.