Wills, Probate and Lifetime Planning

The team at Jennings Perks Solicitors appreciate that planning your affairs or dealing with those of a loved one who is no longer here can be particularly difficult.

Our dedicated and experienced team will guide you through the delicate issues faced, no matter how sensitive, providing straightforward and practical advice, offering tailored solutions to suit your circumstances and needs based on their many years of experience.

We are able to assist you with:

• Preparation of all types of Wills;
• Inheritance Tax planning;
• Probate and Estate Administration;
• Post death variations;
• Creation and administration of Trusts;
• Preparation and Registration of Lasting Powers of Attorney (including existing Enduring Powers of Attorney);
• Court of Protection Applications;
• Long term care issues

Probate services

At Jennings Perks Solicitors we are keen to ensure transparency concerning our costs throughout the course of the administration of an estate. With this in mind, ahead of any Probate matter being undertaken, an estimate of the costs involved, including any third-party costs, based on the information at hand will be duly provided. In arranging for the quote to be provided, or for a fixed fee to be agreed, there are a number of factors that are required to be taken into consideration, including:

• The value of the estate

• Whether or not there was a valid Will

• The number of beneficiaries involved

• The volume and type of assets included in the estate

• If there is more than one property held

• Whether all assets held are in England and Wales

• If the assets of the estate require Inheritance Tax to be calculated and discharged

In conducting the administration of an estate, there are a number of services that we will provide as part of any fee quoted:

• A dedicated and experienced probate solicitor to work on your matter throughout. An initial meeting to discuss all aspects of the estate, including the steps that will be required during the matter and likely timescales

• Identify the legally appointed/entitled Executors or Administrators (if there is not a valid Will) as well as the beneficiaries of the estate before writing to each

• Accurately identify the type of probate application that will be required.

Ascertain the value of the estate and write to any third parties for date of death valuations, if required, including, but not exclusively, banks/building societies, utility providers, benefit providers, insurance companies

• Complete all requisite probate documentation and relevant H.M. Revenue & Customs forms

• If the estate is subject to Inheritance Tax, based on the assets of the estate at death, then calculate the Inheritance Tax payable

• If such tax is applicable then liaise with H.M. Revenue & Customs together with the relevant financial institutions to discharge any tax due

• Submit all relevant documentation to H.M. Revenue & Customs and the Probate Courts on your behalf • Obtain the grant of Probate or Letters of Administration

• File any corrective tax accounts if the value of the estate changes significantly from the probate valuations and more tax is required to be paid by the estate or is due back to the estate from H.M. Revenue & Customs

• Collect in all assets of the estate

• Place statutory advertisements as required (to protect against future claims against the estate)

• Prepare estate accounts

• Distribute the estate once the estate accounts have been approved by the Executors/ Administrators. Should there be property as part of the estate that is required to be sold, a separate quote will be provided in that respect.

Costs

Obtaining a grant of probate in an estate where Inheritance tax is not applicable £700

Obtaining a grant of probate and conducting the full estate administration where there is a valid Will & Inheritance tax is not applicable £1,000 to £5,000

Obtaining a grant of letters of administration (no valid Will) and conducting the full estate administration & Inheritance tax is not applicable £1,000 to £6,000

Obtaining a grant of probate or letters of administration where there is inheritance tax to pay or no tax to pay but the assets of the estate require a full inheritance tax return to be submitted £2,500 to 15,000

Jennings Perks Solicitors are appointed as Executors 1.5% gross value of estate.

Disbursements

Probate Court fee (depending on number of sealed copies of Grant of Probate) £150 to £170

Swearing of the Oath fee (per executor). (This fee is £5 where there is no valid Will) £7 to £13

Post in The London Gazette (this protects against unexpected claims from unknown creditors) £69.50

Post in a Local Newspaper (This also helps to protect against unexpected claims) £50 to £150

Office Copy Entries (per property) to check property ownership £3 to £9

All fees are subject to VAT @ 20%

It would not normally be necessary to undertake other work or incur other costs other than those described above. However, we would we very happy to provide you with a more tailored quote for all stages of your particular case once we know about your specific circumstances.

Below details the main stages of the probate process:

1. Register the death
2. Determine if the person who has died has left a Will & deal with relevant individuals accordingly
3. Assess the estate
4. Pay any inheritance tax due
5. Submit the application for grant of probate (or letters of administration if there is no will) & inheritance tax forms if applicable
6. Receive grant of probate
7. Pay any inheritance tax due
8. Sell / Realise any assets including property belonging to the estate
9. Pay off any debts

Distribute the remainder of the estate to the beneficiaries

How long will it take?

• Generally speaking, ‘simple’ estate matters such as those described above can normally be dealt with within 6-8 months. This is broken down into the following stages, with rough time estimates for each stage as follows:
• applying for the grant of probate: 1 to 3 months;
• notifying asset holders, placing legal notices and collecting assets: 3 to 5 months
• distributing the assets: 5 to 7 months;
• Preparing the estate accounts: 7 to 8 months

Details relating to the pricing of our probate services are as follows:-

Obtaining a grant of probate in an estate where Inheritance tax is not applicable £1,000

Obtaining a grant of probate and conducting the full estate administration where there is a valid Will & Inheritance tax is not applicable £2,000 to £5,000

Obtaining a grant of letters of administration (no valid Will) and conducting the full estate administration & Inheritance tax is not applicable £2,000.00 to £6,000

Obtaining a grant of probate or letters of administration where there is inheritance tax to pay or no tax to pay but the assets of the estate require a full inheritance tax return to be submitted £3,500 to £15,000

Jennings Perks Solicitors are appointed as Executors 1.5% gross value of estate

Disbursements

Probate Court fee (depending on number of sealed copies of Grant of Probate) £300.00

Post in The London Gazette (this protects against unexpected claims from unknown creditors) £69.50

Post in a Local Newspaper (This also helps to protect against unexpected claims) £50 to £150

Office Copy Entries (per property) to check property ownership £7.00 (incl. of VAT at 20%)

Official copies of Probate £1.50 each (no VAT) Bankruptcy searches £7.00 each (No VAT)