Probate is the legal right to deal with someone’s property, money and possessions (their ‘estate’) when they die.
If the deceased left a will, they would have specified an executor or executors who have an obligation to carry out the deceased’s wishes, as written down in their will. This process involves collecting the deceased’s assets, paying any liabilities on their estate and distributing the estate to the beneficiaries.
If there is no executor named in the will, or there is no valid will, someone must become the administrator of the estate to administer and distribute the deceased’s estate in accordance with the law of the land.
Laws of probate, inheritance, and estate administration are overwhelmingly complex. With the tax issues that arise on death the administrative process of distributing assets of a deceased’s estate can be very implication difficult to navigate without professional advice.
Day & Co Probate and Wills, a firm based in Harrow, is licensed by the Institute of Chartered Accountants in England and Wales to carry out the reserved legal activity of non-contentious probate in England and Wales.
Our full probate and estate administration service includes:
- Ascertaining the assets and liabilities in the Estate and contacting the relevant institutions to obtain date of death valuations
- Calculating the IHT payable (if relevant) and preparing the necessary Inheritance Tax (IHT) forms
- Dealing with HMRC for any income tax or capital gains tax liability prior to death and dealing with any tax liabilities arising during the administration period
- Submitting the application for and obtaining the Grant of Representation
- Placing Section 27 notices (these are advertisements that are placed to inform any potential creditors that the estate is going to be distributed)
- Collecting assets and settling liabilities
- Settling any outstanding tax (if relevant)
- Distributing the estate to the beneficiaries
- Preparing Estate Accounts
To obtain a Grant of Probate only -where we make the application is made to the Court for the Grant of Probate on the basis of probate values of the estate given by you – the cost is fixed and starts from £750. A disbursement of the court fee of £273 and the cost of office copies of the probate will be the only additional costs.
Administration of an estate is time consuming and burdensome for many. They choose to use a professional such as a STEP member to alleviate their stress and to get the work done more efficiently.
The fees for our services are charged on the basis of the time spent. We will provide at the outset with an estimate of our fee for the work that we have agreed before any work is commenced. Initial consultation is free.
Any disbursements such as probate application fee will be changed separately.
Please feel free to call or email to have a no obligation discussion.