Probate Advisor NORWICH, NORFOLK

Probate

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What are Probate Services?

If your loved one left a valid Will, our probate services are tailored to streamline the process. We assist the named executor in applying for probate, gathering and valuing assets, settling debts and taxes, and ultimately distributing the estate according to the wishes outlined in the Will. The culmination of this process is the issuing of the “Grant of Probate,” providing the executor with the necessary legal authority.

What are Administration Services (Letters of Administration)?

In situations where there is no valid Will or where it is deemed invalid, our administration services come into play. Here, an administrator—often a close family member—is appointed to manage the estate. We will guide the administrator through the legal steps, and upon completion, the court issues the “Grant of Letters of Administration,” empowering the administrator to handle the estate affairs.

Who can benefit from a Trust?

We aim to unravel the complexities surrounding trusts, providing clear insights into their types, functions, and the key role they play in estate planning. Whether you’re a seasoned investor, a legal professional, or someone exploring financial planning options, we can assist you navigate the world of trusts in the UK. Trusts can be instrumental in securing your financial future and ensuring assets are protected in the correct way.

Our Probate/Administration Services:

How much does Probate Advice cost?

Due to the unique circumstances of each estate, specific timeframes for estate administration can vary. In cases where a complete inheritance tax account isn’t required, and no complicating factors are present, we typically anticipate being able to draft probate papers within four weeks from the receipt of all necessary paperwork.

Upon the signing of probate papers and submission of the application to the Probate Registry, the processing time is usually around ten weeks before the Grant of Probate is issued. Following this the majority of assets can generally be collected or transferred to beneficiaries within an additional six to eight weeks. For those selling a property, the duration of the sale process significantly influences the overall administration timeline.

An unpredictable factor is the response time from HM Revenue & Customs, particularly in enabling executors to address any tax liabilities arising during the administration period. For more intricate estates, these timeframes may naturally extend. Executors should be mindful of the requirement to file the inheritance tax account within twelve months of the date of death if the estate is subject to inheritance tax. Interest on unpaid inheritance tax begins accruing after the sixth month following the date of death.

In certain cases, executors may opt to advertise for creditors, allowing a two-month period for the notification of outstanding debts. Our advisory services can guide whether such notices are necessary. Executors should also note a six-month window, commencing from the Grant of Probate issuance date, during which claims against the estate may be made. We offer guidance on whether it is advisable for executors to defer estate distribution until after this period has elapsed.

The charges for dealing with the administration of an estate are based on the amount of time spent working on the file at our hourly charging rates. These are as follows:

Name: Ann-Marie Matthews
Position Held: Solicitor
Hourly Rate: £240+VAT
Years Experience: 23

Moving aware from some industry practices, our pricing model is based solely on the time dedicated to your case, without imposing an additional percentage charge based on the estate’s value.

Given the unique nature of each estate, our fees are contingent on various factors, including:

  • Whether you engage us for the entire administration process or specific aspects only.
  • The provisions outlined in the Will.
  • The complexity and quantity of assets.
  • The inheritance tax status of the estate.

To initiate transparancy, we offer a fixed-fee consultation. During this session, we aim to:

  • Clarify the sequential steps involved in estate administration.
  • Discuss your rights, responsibilities, and potential liabilities.
  • Identify opportunities for tax-saving and other estate planning strategies.
  • Anticipate and address potential complications that may arise during the process.
 

 

We also offer a fixed fee of £2,000 plus VAT for obtaining the Grant of Probate (or letters of administration) for you where an inheritance tax account is required and you provide us with all the financial information to include in the probate application. 

For dealing with Probate matters where you wish us to undertake more than just obtaining the Grant of Probate (or letters of administration), for example, valuing the estate and/or winding up the estate after the Grant, we will provide you with a written fee estimate for this work. 

For dealing with Probate matters where you wish us to undertake more than just obtaining the Grant of Probate (or letters of administration), for example, valuing the estate and/or winding up the estate after the Grant, we will provide you with a written fee estimate for this work.
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