Probate & Administration of Estates
Probate and Administration of Estates Solicitors in Norwich, Norfolk
When a person dies their affairs need to be finalised and certain legal formalities dealt with. The person responsible for dealing with these matters is the Executor if there is a Will. If there is not Will then it will be an Administrator.
Being an Executor or an Administrator can be an ominous task. The responsibilities will start at a time when often the Executor least wants to be confronted with paperwork. We understand this and know that it can be distressing to have to deal with a loved one’s Estate so soon after their death. On top of this, the Executors can be personally liable if an Estate is not dealt with correctly.
We are able to help you with all matters connected with the Probate and finalising a person’s affairs from the obtaining of a Grant of Probate, dealing with any Inheritance Tax forms, the day-to-day administration and finalising the Estate.
Fees for Administering an Estate
Applying for the grant, collecting and distributing the assets
We anticipate for straightforward estate administrations this will take between 15 and 25 hours work at £217 plus vat hour. Total costs estimated at £3,255-£5,425 (+VAT). Plus 0.5% of the total value of the entire estate.
The exact cost will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property, costs will be at the lower end of the range. If there are multiple beneficiaries, a property and multiple bank accounts, costs will be at the higher end.
We will handle the full process for you. This quote is for estates where:
• There is a valid will
• There is no more than one property
• There are no more than 5 bank or building society accounts
• There are no other intangible assets
• There are 3 beneficiaries
• There are no disputes between beneficiaries on division of assets. If disputes arise this is likely to lead to an increase in costs
• 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
Disbursements in addition to this fee:
• Probate application fee of £155
• £7 Swearing of the oath (per executor)
• £155.98 (estimate) Post in The London Gazette and in a Local Newspaper – This helps also helps to protect against unexpected claims from unknown creditors.
• £25 Unclaimed Assets Register Search – to search for unknown assets.
Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Potential additional costs
• If there is no will or the estate consists of any share holdings (stocks and bonds) there is likely to be additional costs that could range significantly depending on the estate and
how it is to be dealt with. We can give you a more accurate quote once we have more information.
• If any additional copies of the grant are required, they will cost £1 (1 per asset usually).
• Dealing with the sale or transfer of any property in the estate is not included.
How long will this take?
On average, estates that fall within this range are dealt with within 6-12 months.
Call Gordon Dean Solicitors on 01603 767671 or contact us for more information.
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