We know that it can be a stressful and confusing time when a loved one has died and the thought of dealing with their financial affairs and estate can be daunting.
If you have been appointed as an executor or administrator in a Will, or if you are dealing with the affairs of a relative who has passed away without a Will, we can help.
We will provide a sympathetic, respectful and efficient service to reduce the stress for you during this difficult time. We can help you with every aspect of administering the estate to save you time and worry, including all necessary correspondence with companies to find out the value of the assets and liabilities, dealing with Inheritance Tax, applying for a Grant of Probate, collecting in the assets of the estate, and distributing the estate. At the end of the process, we provide full Estate Accounts.
Many solicitors charge a percentage based on the value of the estate in addition to their hourly rate, and bank charges for dealing with the administration of an estate can be more than 4% of the value of the estate! This can result in estates with only one valuable asset (e.g. the family property) paying more than estates with numerous low-value assets which are more complex and time consuming to deal with. We do not charge on a percentage basis but at a fixed hourly rate of £180 + VAT
As a very rough guide:-
- An Estate worth approximately £100,000 is likely to involve about 10 hours of work and our costs would be in the region of £2,000.
- An Estate worth approximately £200,000 is likely to involve about 20 hours of work and solicitors costs would be in the region of £4,000.
- An Estate worth approximately £500,000 is likely to involve about 50 hours of work and solicitors costs would be in the region of £10,000.
We will provide you with a clear estimate of our costs based on the particular estate, taking into account the number of assets and beneficiaries, and how simple or complex the particular estate is likely to be to deal with.
We can also advise beneficiaries on the variation of Wills to minimise tax implications and reflect family agreements. We offer a fixed cost Deed of Variation for £250 + VAT.
If you decide to instruct us our costs will be taken from the Estate.