Probate Matters

Our Probate Team

The Probate Team is made up of the head of department, Kate Middleton who qualified as a solicitor in 2008 and further qualified as a Trusts and Estate Practitioner (TEP) in 2016. Mrs Middleton is also an accredited member of Solicitors for the Elderly. Mrs Middleton is assisted by Lorraine Mannas, a Paralegal who has in excess 10 years’ experience in Probate and related matters, along with Margaret Reynolds who remains as a consultant to the firm and has been a Wills & Probate Solicitor for over 30 years.

 

Our Probate Fees

With all Probate matters the costs will vary depending on the individual circumstances of each estate. The amount of work to be undertaken will depend on factors such as, the complexity of the estate, whether Inheritance Tax is payable and often the whereabouts of different assets. For example, assets held abroad will need to be valued, there may be Inheritance Tax payable in the Country where the asset is held, and we may have to liaise with foreign solicitors.

 

We charge an hourly rate of £280.00 plus VAT for a Senior Solicitor and/or £178.00 plus VAT for a Junior Solicitor/Paralegal/Legal Executive. Normally at our first meeting we can assess how many hours of work will be needed and confirm this to you at the start of the matter.

 

Our fees below show a starting point based on average and simple examples based on the following:

  • There is a valid will
  • There is no more than one property
  • There are no more than 1-3 bank or building society accounts
  • All assets are easily identifiable
  • There are 1-3 beneficiaries
  • There are no disputes between the beneficiaries on the division of assets

 

Grant only applications (Limited)

This is based on the personal representatives compiling all estate assets and liabilities and providing this information to us.

What we will do:

  • Calculate any taxes due;
  • Submit, as appropriate, HM Revenue & Customs forms, IHT205 or IHT400;
  • Prepare and submit application for Grant;
  • Obtain a Grant of Representation;
  • Provide the client with the original and any sealed copies of the Grant allowing them to deal with the remainder of the estate, i.e. collecting in assets and making distributions.

The average straightforward estate may take in the region of 3-5 hours at a cost of around £840.00- £1,400.00 plus vat at 20%.

 

Grant only applications (including ascertaining value of estate assets and liabilities)

What we will do:

  • Ascertain the assets and liabilities of the estate
  • Calculate any taxes due
  • Submit, as appropriate, HM Revenue & Customs forms, IHT205 or IHT400
  • Preparation and submission of application for Grant
  • Obtain a Grant of Representation
  • Provide the client with the original and any sealed copies of the Grant allowing them to deal with the remainder of the estate, i.e. collecting in assets and making distributions

The average straightforward estate may take in the region of 4-6 hours at a cost of around £1,120.00 – £1,680.00 plus vat at 20%.

 

Full Estate Administration (Not subject to IHT Charge)

What we will do:

  • Ascertain the assets and liabilities of the estate
  • Calculate any taxes due
  • Submit, as appropriate, HM Revenue & Customs forms, IHT205 or IHT400
  • Obtain a Grant of Representation
  • Collect assets
  • Pay debts, taxes and administration expenses
  • Sell assets, if necessary to realise cash for the purposes of the administration
  • Transfer the assets to those entitled
  • Produce estate accounts
  • Provide statements of income and income tax paid to beneficiaries with an income entitlement

 

Estates not chargeable to IHT -The average straightforward estate may take in the region of 8-12 hours at a cost of around £2,240.00 – £3,360.00 plus vat at 20%.

 

Estates chargeable to IHT The average straightforward estate may take in the region of 10-15 hours at a cost of around £2,800.00 – £4,200.00 plus vat at 20%.

 

Our charges will not change throughout the course of the administration unless circumstances change, i.e. other assets come to light or there are additional complexity’s not foreseen at the outset. The emergence of the odd Insurance Policy or Passbook with a Building Society or additional Premium Bonds etc. would not cause the charges to change.

 

Disbursements and Expenses

These are other expenses that the estate is likely to incur:

  • There is a Probate Fee charged by the Probate Registry when applying for the Grant. This will be in the region of £300.00 and £1.50 for any additional sealed copies
  • Bankruptcy only Land Charges searches if necessary – £2-5 per search
  • Advertisements in the London Gazette and local newspaper if required to protect unexpected claim, in the region of £100.00 -£400.00

 

How long will this take?

  • Ascertaining Assets and Liabilities of the estate 4-6 weeks
  • Obtaining the Grant of Probate approximately 16 weeks for online applications and up to 6 months for paper applications
  • Collecting in the assets 2-6 weeks
  • Distributing the assets to beneficiaries 2-4 weeks
  • The average grant only application is currently taking around 3-4 months
  • The average straightforward estate not subject to IHT is currently taking around 6-12 months
  • The average straightforward estate subject to IHT is currently taking around 8-14 months

 

Wills and Lasting Power of Attorney

At MRP Capron we offer a home visit for the preparation of your will or LPA.  This is carried out by Pauline Thomas who has 26 years’ experience in this field.

 

How long will this take?

LPA timeframe – meeting with the client, taking instruction and preparation of required documentation will be usually completed within 14 days.  Once the forms are signed, we register your forms with the Office of Public Guardian this takes 12-20 weeks for notification of registration to be completed.

Will timeframe – meeting with the client, taking instructions, preparation of drafts and execution of the will 7-21 days depending on the complexity and revisions.

 

Our Wills and LPA fees

Wills

Single                                                                                    £200.00 + vat

Double                                                                                  £350.00 + vat

Severance of joint tenancy                                               £100.00 + vat

Letter of wishes                                                                    £75.00 + vat

Life interest                                                                         £300.00 + vat

Double life interest                                                            £485.00 + vat

 

Lasting Power of Attorney

For one LPA

Fee                                                                                         £385.00 + vat

Registration                                                                          £110.00 + vat

Court fee                                                                             £82.00 (no vat)

 

For two LPA’s

Fee                                                                                        £660.00 + vat

Registration                                                                         £165.00 + vat

Court fee                                                                            £164.00 (no vat)

 

For four LPA’s

Fee                                                                                        £935.00 + vat

Registration                                                                        £220.00 + vat

Court fee                                                                           £328.00 (no vat)

 

OPG Fee                                                                              £82.00 (no vat)

Replacement LPA                                                              £44.00 (no vat)