WILLS AND PROBATE

Wills

Without a Will, you cannot easily control what happens to your estate when you die. Furthermore, if you do not make a Will, you will die "intestate". One of the consequences of that is that you do not choose who is to manage your affairs, as Executor, after you die. Your personal possessions or treasured items may not go to those whom you would like to benefit. Your estate is instead divided in accordance with Statute, which may well not accord with your wishes. Under the rules of intestacy, there is no provision for your favourite charity to benefit from your estate.

Furthermore, if you are involved in a divorce or separation, or have been recently divorced, unless your Will is drawn carefully, your family may be faced with claims from those whom you do not wish to benefit.

Making a Will is an opportunity to deal with these matters and can also set out any special wishes you have with regard to your funeral arrangements.

We can advise and assist you in dealing with these important matters and provide you with an opportunity for you to give careful thought to these issues.

Costs

A straightforward 'single Will' - £300.00 plus VAT, for 'double Wills', i.e. similar Wills for a married couple/partners - £480.00 plus VAT for both Wills.

 

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Probate and the Administration of Estates

Bereavement can be a distressing time for all and we can provide a comprehensive and sympathetic service at this difficult time. Where the Deceased has left a Will we can advise the Executors on their duties and assist them in obtaining the Grant of Probate and carrying out those duties. If the Deceased left no Will, we can advise you on the consequences of intestacy and make the necessary application for a Grant of Representation.

In either case, we will complete the Inland Revenue Account for the estate, compile estate accounts and deal with the distribution of the estate to conclude the administration, including where necessary, the sale or transfer of assets.

Costs

Waughs offers a Grant only service as well as being able to deal with the administration of the whole estate.

The cost of the Grant Only service will depend on whether the estate in question is taxable or non-taxable.
If the Estate is non-taxable the usual cost is a fixed fee of £980 (excluding VAT and disbursements).
If the estate is taxable the cost is also a fixed fee of £,1800 (excluding VAT and disbursements). Depending on the complexity of the estate, this fixed fee quote can increase from £1,800 to £5,000 (excluding VAT and disbursements).

If you wish us to deal with the full administration of the estate then the cost will be based on the complexity of the case.

We are able to offer a meeting to discuss the matter of dealing with the administration of the estate. This meeting will be free of charge. If you wish us to proceed then we will be able to provide you with a quote before you leave the meeting. It is then up to you whether you wish us to act on your behalf.

If the matter becomes unduly complex, we reserve the right to adjust our initial estimate to reflect the circumstances of the case.

Disbursements

The following disbursements are not included in our quotes for probate work:

1. Probate Registry fees - £273 plus £1.50 per additional copy.

2. In cases where we need to check how the freehold property is held, either as joint tenants or tenants in common, there is a Land Registry fee of £3 for office copies.

3. During the administration of an estate, there may be instances where we will need to engage the services of a surveyor. These surveyor's fees can range from £400 to £1,800 (excluding VAT and disbursements).

4. If emergency repairs are required to a property that belongs to the deceased then any repairs carried out by a plumber or locksmith will need to be paid by the executor or in due course the estate. Likewise, if any household goods need to be removed from the property the cost of this will need to be settled separately.

5. There may be instances where the household goods need to be valued for inheritance Tax purposes. In these instances we will need to engage professional valuers. Again, these costs are not included within our fees.

6. There are occasions where there are no relatives or the only beneficiary is a Charity. In instances where there are no relatives any emergency costs that are incurred will need to be paid following the issue of the Grant. With regards to a Charity being the main beneficiary we will need to obtain authorisation from the Charity before any costs are incurred. This may result in further work having to be carried out and delays being encountered whilst seeking the necessary authority.

Timescales

Following correspondence being received from the Inland Revenue, we will send the original Will, together with the supporting documentation, to the Probate Registry. Once we have received notification from the Probate Registry as to when the Grant will be issued, we will contact you. 

On average, taxable estates are dealt with within 6 to 12 months.  Non-taxable estates are dealt within to 6 months. Typically, obtaining the grant of probate for a taxable estate takes 4 to 7 months and 2 to 4 months for a non-taxable estate. Collecting in assets for both taxable and non-taxable estates can take between 2 to 3 months. Once this has been done, we can distribute the assets, which normally takes 2 to 4 weeks, from when the all the assets have been collected.

For more information please telephone Ian Morgan on 01342 323545 or email us at enquiries@waughs-solicitors.co.uk

Ian is a S.T.E.P. practitioner.