Probate: the legal right to deal with someone’s property, money and possessions (their ‘estate’) when they die.

Probate can be an extremely complicated and time-consuming process, even for the smallest of estates, but Apsleys can help you and your loved ones navigate this. Even if there has been advanced Inheritance Planning, there is still a lot of work to be undertaken before the full picture can be seen.

Our probate team can help you determine how complex a process this will be, and what we need in order to help you through this tough time. We can offer trusted support to you and your family at a very stressful and difficult time. Clients who we already act for will see the benefit of having to provide less information, as we will have access to some financial information already.

The areas that we can deal with are:

  • Compiling details of the assets and liabilities of the estate and obtaining professional valuations if necessary
  • Completing the Inheritance Tax (IHT) forms and arranging for the payment of IHT
  • Applying for probate
  • Settling the debts of the estate
  • Dealing with Income Tax liabilities of the estate
  • Paying legacies and distributing assets to the beneficiaries
  • Preparing the final estate accounts

Our fees

Probate applications and work can vary a lot, both in time and cost due to the complexities that come with each individual probate case.

As a simple guide:

  • It can take up to three months to identify and value assets/liabilities and prepare the Inheritance Tax forms and apply for probate
  • Selling assets and collecting in money can take up to six months
  • Settling tax liabilities, preparing estate accounts and making final payments can take six months to a year

Types of Probate Processes

1) easily identifiable low value assets

  • Obtaining a grant of probate
  • Working with executors
  • A simple will exists and assets are well understood and easy to value
  • Assets were not subject to Inheritance Tax
  • Valuations are easily obtained and there are no complicating factors
  • Relevant Inheritance Tax form is completed (IHT205) and a probate application is made on behalf of the executor(s)
  • Executors deal with the administration of the estate
  • Total fees between £900 and £1500 (including VAT)

2) high value assets, easily identifiable, simple will

  • Calculating Inheritance Tax and obtaining a grant of probate
  • The estate has Inheritance tax to pay but assets are well understood
  • There may be beneficiaries
  • Valuations are reasonably easy to obtain and there are no complicating factors
  • Relevant Inheritance Tax forms are prepared (IHT400) and a probate application made on behalf of the executors
  • Executors deal with the administration of the estate although some hand-holding is provided
  • Total fees between £1,500 and £3,000 (including VAT)

3) Acting on behalf of executors

  • For some estates we look after the complete process of
  • Identifying assets, valuing the estate & calculating Inheritance Tax
  • Applying for probate
  • Collecting in assets and distributing assets to beneficiaries
  • Accounting for estate and completing the necessary returns
  • Total fees between £3,000 and £10,000 (including VAT) – but this will be dependent on circumstances

There will likely be other costs payable in addition to those outlined above. These are charges that are needed to be paid on your behalf as part of the administration process and will be discussed with you up front.

Disbursements applicable to Probate Proceedings

  • Probate Application Fees are £273
  • There is a small additional charge of £1.50 per copy of the Grant of Probate
  • Bankruptcy search – £5 per beneficiary
  • Notification in The London Gazette and a local newspaper of the individual’s death to protect against claims from unknown creditors – approximately £300 to £500
    • The services that Apsleys can provide for you with regards to probate are as follows
  • Send notifications of death to financial institutions, government organisations, utilities and household contacts
  • Ascertain whether there is any entitlement to bereavement allowances or benefits
  • Finalise the income tax and capital gains tax position of the deceased at the date of death. This work to commence from the start of the relevant tax year
  • Review the Will, codicils and legacies to ensure that they are valid and prepare affidavits where necessary
  • Ascertain who the beneficiaries are
  • Identify the composition of the estate and ascertain whether a grant is needed
  • Value the estate
  • Prepare any inheritance tax return;
  • Prepare the papers for application for a grant of probate / grant of administration
  • Place statutory notices of death in the London Gazette
  • Obtain the grant
  • Take control of and gather in the assets of the estate
  • Pay the debts of the estate including tax liabilities
  • Finalise the estate tax
  • Pay legacies and transfer the balance to the residuary beneficiaries; and
  • Prepare estate accounts

We can make the probate process quicker, smoother and less stressful for you and your loved ones.

For more information on probate services or for a private and confidential free consultation, please contact us on tiverton@apsleys.com or call the office on 01884 257725.

We are licensed by the Institute of Chartered Accountants in England and Wales to carry out the reserved legal activity of non-contentious probate in England and Wales. Details of our probate registration can be found at under reference number C008860890. Information for Apsleys diversity data can be found here.

In the unlikely event that we cannot meet our liabilities to you, you may be able to seek a grant from ICAEW’s Compensation Scheme. Generally, applications for a grant must be made to ICAEW within 12 months of the time you become aware, or reasonably ought to have been aware of the loss. Further information about the scheme and the circumstances in which grants may be made is available on ICAEW’s website: www.icaew.com/probate. Our professional indemnity insurer is Accelerant Insurance Limited, Policy number 44404834.

In the event you are not happy with our service

We look to provide clients with a high level of service but should you feel that we have not delivered on this, please let us know by contacting the probate partner, Phil Morrish. We will consider carefully any complaint that you may make about our probate services as soon as we receive it and will do all we can to resolve the issue. We will acknowledge your complaint within five business days of its receipt and endeavour to deal with it within 8 weeks. Any complaint should be submitted to us by letter.

If we do not deal with it within this timescale or you are unhappy with our response we give you, you may take the matter up with our professional body the Institute of Chartered Accountants in England and Wales and the Legal Ombudsman. Complaints to the Legal Ombudsman should be made within one year of the act or omission, or within one year of you becoming aware of the issue, and in either case within six months of our written response to your complaint to us. The contact details for the Legal Ombudsman are:

Letter: The Legal Ombudsman, PO BOX 6806, Wolverhampton, WV1 9WJ

Email: enquiries@legalombudsman.org.uk

Telephone: 0300 555 0333