Probate services

Probate and estate administration services

We understand how difficult it can be to handle someone’s legal and financial affairs, particularly at a time when you are likely to be coming to terms with the death of a loved one.

We are here to help, providing as much support as you need. As a licensed practice for probate related work and specialists in all aspects of taxation, accounts preparation and estate planning, Fisher Phillips is well placed to take care of the probate and estate administration process for you.

Applying for Probate

A Grant of Probate is the document issued by the Probate Registry which authorises the executors named in a Will to deal with the deceased’s estate.

The process of applying for Probate 

While the phrase ‘probate’ is often used to cover the whole process of dealing with the estate, the following are the key stages: -

1. Obtaining valuations for the deceased’s assets and establishing all debts
2. Preparing and submitting the appropriate HMRC Inheritance Tax forms
3.  Applying for the grant of probate
4. Administering the estate (gathering in the assets and settling the debts of the deceased)
5. Paying legacies
6. Completing tax returns and advising you on any Income and Capital Gains Tax liabilities of the estate
7. Preparing the estate accounts
8. Distributing the assets to the beneficiaries.

We offer the full range of services to support you though the probate process and can help whether you need assistance on one specific matter or on the whole probate and administration process.

Probate timescales

Obtaining Grant of Probate can take between three to nine months, depending on the level of complexity of each case. If there are any issues with the validity of the Will, the ownership or valuation of assets or a delay in payment of tax, then it may take much longer. Once the Grant of Probate is obtained, administering the Estate can take from two months to a year depending on the assets in the estate, whether some assets need to be sold and the length of time it takes to sell them.

Why choose us?

• We are experienced in all areas of accounts, tax and estate administration which means you can have total confidence in us handling the whole process for you.
• You can be assured of the personal attention we pride ourselves on. You will have access to our partners and specialist staff who will work closely with you and will be sensitive to your needs, providing you with the support and advice you need.
• As accountancy and tax specialists we’re used to gathering and calculating financial and tax related information. In doing so, we can reduce the amount of time it takes to compile the necessary information and keep costs down.
• We provide you with a transparent fee structure from the outset. We do not charge based on the value of the estate; our fees are calculated on a time basis and depend on the amount of work which we do for you. Before our engagement is confirmed we will provide you with an estimate of our fees for each stage of the process. Our fee structure and charges can be viewed here.

Example of fees we would charge

We do not charge a ‘fixed fee’ or a percentage of the value of an estate.  Instead, we charge on an hourly rate basis as mentioned above. Fees will vary depending upon the complexity and particulars of each case.

For an estate comprising a property, bank accounts and minimal personal assets, we would estimate that our fees will be in the region of £3,500 to £4,500 plus VAT (plus disbursements such as the probate application fees).  This includes our time for the completion and submission of the IHT forms to HMRC and completion, submission and obtaining of the Grant.

If we are required to deal with the administration of the estate, we will open a dedicated Client Bank Account for the Estate, then collect in the assets from banks, receive the proceeds of sale of the property, pay any taxes, expenses. bequests etc. and finally, complete Estate Accounts for the Executors showing the inflows and outflows in the Administration period.  Our fees for this will be an additional £2,000 to 3,000 plus VAT.

For an estate comprising multiple properties, investments, multiple bank accounts, a personal company and high value possessions such as paintings and jewellery, we would estimate that our fees will be in the region of £10,000 to £12,000 plus VAT (plus disbursements such as the probate application fees).  This includes our time for the completion and submission of the IHT forms to HMRC and completion, submission and obtaining of the Grant.

If we are required to deal with the administration of the estate, we will open a dedicated Client Bank Account for the Estate, then collect in the assets from banks and investment houses, receive the proceeds of sale of the properties, pay any taxes, expenses. bequests etc. and finally, complete Estate Accounts for the Executors showing the inflows and outflows in the Administration period.  Our fees for this will be an additional £6,000 to £8,000 plus VAT.

Tax Returns may also be required in the future to report any income and capital gains of the Estate for all tax years in which the Estate is open (in Administration). These Tax Returns would be completed by our tax department within the normal Self-Assessment timeframe (ie before 31st January following the tax year-end). This work is separate to the IHT/probate work and is billed separately (and annually while the administration lasts).  There may also be a need to register the sale of a property within the 60 day time frame permitted by HMRC. These capital gains registrations cost approximately £500 plus VAT each but may not be needed depending upon the situation.

Complaints Procedures

We want to give you the best possible service. However, if at any point you become unhappy or concerned about the service, we are licenced and regulated by the Institute of Chartered Accountants in England and Wales (ICAEW) and you can also access a free and independent service form the Legal Service Ombudsman so there is a clear process to resolve any problems should they arise. Our firm’s complaints procedures are also set out in our letter of engagement which we will agree with you before the engagement is confirmed and before any work commences.

If you would like to talk to us about how we can improve our service to you, or if you are unhappy with the service you are receiving, please let us know by contacting the head of legal practice, Caroline Harvey. We will consider carefully any complaint that you may make about our probate services as soon as we receive it and will do all we can to resolve the issue. We will acknowledge your complaint within five business days of its receipt and endeavour to deal with it

If we do not deal with it within this timescale or you are unhappy with our response you may of course take the matter up with our professional body, ICAEW, and the Legal Ombudsman. Complaints to the Legal Ombudsman should be made within six years of the act or omission or within three years of you becoming aware of the issue, and in either case within six months of our written response to your complaint to us. The contact details for the Legal Ombudsman are:

Letter: Legal Ombudsman, PO Box 6806, Wolverhampton, WV1 9WJ,

Email: enquiries@legalombudsman.org.uk

Telephone: 0300 555 0333.

Click here to view ICAEW complaints procedure

Click here to view ICAEW register of accredited probate firms.

ICAEW Compensation Scheme

We aim to provide you with a fully satisfactory service and Caroline Harvey as probate principal will seek to ensure that this is so. In the unlikely event that we cannot meet our liabilities to you, you may be able to seek a grant from ICAEW's Compensation Scheme. Generally, applications for a grant must be made to ICAEW within 12 months of the time you become aware, or reasonably ought to have been aware of the loss. Further information about the scheme, and the circumstances in which grants may be made, is available on ICAEW's website: www.icaew.com/probate.

Professional Indemnity Insurance

Our level of liability under our Professional Indemnity Insurance policy is capped at £4,000,000.

Contact us

Please contact us for more information about our probate and estate administration service.