Making a Will puts your mind at ease
It’s easy to put off drafting a Will – it can feel daunting, so is often mistakenly left until later life. But with advice and guidance from our expert team of Northallerton-based PBH Solicitors, you will feel a sense of relief knowing that you have made your wishes clear for the future.
When we draft your Will with you, we always talk you through the legalities, from what to include and how to protect your beneficiaries, to reducing inheritance tax – all patiently explained in a way that is easy to understand.
If you are unable to visit us at our Northallerton offices, we are just as happy to visit you in your home, or in hospital.
PBH Probate Services – trusted by generations of local families
For over 90 years, generations of local families in Northallerton have trusted our experienced team to manage their loved one’s estate. We understand that when a relative dies, the thought of dealing with their affairs can be overwhelming and difficult. And sometimes, tension between family members can result in disputes – adding further stress.
You can trust us to:
- sensitively and efficiently deal with all administrative aspects of their estate for you – from completing the inheritance tax documents to applying for a grant of Probate or letters of Administration.
- explain all of the options available to you in plain English, so that you feel informed – e.g. Deeds of Variation to minimise the financial burden of Inheritance Tax/inheritance tax planning
- expertly manage any complications as they arise (for example, if the deceased has left no Will, or if executors have died), carefully explaining the legal process to you as we resolve your case
- make sure there is always someone available for you to talk to who has knowledge of your case
Fees for Probate Services
The very nature of a probate transaction is that it is extremely difficult to provide you with a definitive figure for costs due to the fact that the costs we charge are based on an hourly basis of £200 per hour. In addition we charge a mark up of between 20% and 30% of our costs depending upon the complexity estate that we are dealing with.
The exact cost will depend on the individual circumstances of the matter. The average cost of obtaining a Grant of Probate and administering an estate where there is:
· A valid Will.
· No more than one property.
· No more than five/building society accounts.
· No other tangible assets.
· There are two beneficiaries.
· There is no dispute between the beneficiaries regarding the division of assets.
· There is no inheritance tax payable and the Executors do not need to submit a full account to HMRC.
· There are no claims made against the estate.
Will be in the region of £1,800 to £2,500 plus VAT.
If there is no Will or the estate consists of shareholding (stocks and bonds), there a large number of beneficiaries and inheritance tax is payable and therefore a full account is required to be delivered to the HMRC then there are likely to be additional costs which could range significantly depending on the estate and how it is to be dealt with. We can give you a more accurate quote when we have received more information from you detailing the extent of the estate.
It is important to note that dealing with the sale or transfer or transfer of any property in the estate is not included in the fees quoted and will be charged separately.
In addition to the Solicitors cost to be charged there are a number of disbursements which are likely to be incurred. Disbursements are payments made to a third party. Examples of these disbursements are:
1. Probate application – £155.
2. Office copy Grant of Probate 50p per copy if requested prior to the Grant of Probate being issued or £1 per copy after the Grant of Probate has been issued.
3. Swearing fee – £5 per signature and £2 per exhibit.
4. Bankruptcy search – £2 per name.
5. Posting notice of death in local gazette.
6. Posting in local newspapers.
How Long Will This Take?
On average estates take between three and five months to conclude. In the case of larger estates this can be considerably longer. Much depends on the speed at which financial and other institutions respond to us and whether a full inheritance tax account is required to be delivered.
As part of our costs we will:
· Provide you with a dedicated and experienced Probate Solicitor to work on your matter.
· Identify the legally appointed Executors or administrators and beneficiaries.
· Accurately identify the type of probate application you will require.
· Obtain the relevant documents required to make the application for probate.
· Complete the probate application and relevant HMRC forms.
· Draft a legal oath for you to swear or Statement of Truth.
· Make the applications to the Probate Registry on your behalf.
· Obtain the Grant of Probate.
· Collect and distribute all assets to the beneficiaries.
· Provide you with an estate and distribution accounts.