Making a will is incredibly important and ensures that your wishes are carried out correctly after your death. At Hammons Solicitors each will is tailor-made for the client according to your requirements. We take your personal financial circumstances, and family commitments into account. We also consider the possible incidence of taxation, in particular inheritance tax, when writing your will.
Hammons Solicitors are experienced in dealing with estates that are left behind with sympathy and efficiency. This involves liaising with the family, obtaining valuations of all of the assets of the estate, agreeing tax liability and applying for a Grant of Probate (or Letters of Administration if there is no will). Once the Grant has been obtained, Hammons can organise the gathering in the assets of the estate and begin administering them according to the will or according to law as the case may be. The legal team at Hammons Solicitors are experienced in dealing with complicated cases and we are more than capable of intervening in cases where a trust may arise under the provisions of a will or intestacy, for example.
Hammons Solicitors are also used to dealing with the personal affairs of clients and where appropriate we can discuss powers of attorney and Court of Protection Orders. These orders are granted to enable relatives, friends or professional advisers to administer the affairs of elderly or infirm persons who, for whatever reason, are unwilling or unable to manage their affairs themselves.
PROBATE
Applying for the Grant, collecting and distributing the assets
Our costs are based on the total of two parts:-
Part 1 - Our Legal Fees
Our fees are based partly on the time we spend on your matter.
Such time includes meetings, considering and preparing documents, writing and receiving letters and emails, telephone calls and travelling (if necessary).
Our fees are also based partly on other factors, such as the complexity of the mater, urgency and skill and specialised knowledge involved.
Our Solicitors that currently deal with Probate matters are:-
1. Miss Ashley Latham Qualified 2016 Hourly rate £200.00 + VAT
2. Mr Robert Brown Qualified 1969 Hourly rate £210.00 + VAT
3. Mr Michael Hammon Qualified 1964 Hourly rate £195.00 + VAT
4. Mrs Natalie Gregory Qualified 2010 Hourly rate £185.00 + VAT
Please refer to 'Meet the Team' section for their profiles.
We estimate our fees based on the value of the Gross Estate at the rate of between 1% to 3% of such value plus VAT.
The Gross Estate is the value of the Estate's assets, e.g. property, bank accounts and shares.
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, one or more properties, multiple bank accounts and Share Transfers to the Beneficiaries, costs will be at the higher end.
The above estimate is for Estates where:-
- There are no disputes between Beneficiaries on the division of the assets. If disputes arise, this is likely to lead to an increase of costs.
- There are no claims made against the Estate.
Please note, other charging structures can be discussed depending on the circumstances of the Estate.
Part 2 - Disbursements
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 you behalf to ensure a smoother process.
In addition to the fees as set out in Part 1 - Our Legal Fees, we would charge the following disbursements:-
- Probate application fee of £155.00
- If any additional copies of the Grant are required, they will cost £1.50 (1 per asset usually)
- £5.00 plus £2.00 per document referred to for swearing the Oath (1 document usually being the Will) for each Executor
- Bankruptcy - only Land Charges Department Searches (£2.00 per beneficiary)
- £285.00 + VAT of £57.00 (Total £342.00) to put a Notice in the London Gazette - This protects against unexpected claims
- £185.00 + VAT of £37.00 (Total £222.00) being the estimated charge for an advert in a local newspaper - This also helps to protect against unexpected claims.
N.B. There is no Probate Application fee if the value of the Estate is under £5,000.00
Potential Additional Costs
Examples may be:-
- An Estate that includes a significant number of shares would require us to obtain a valuation from a stockbroker.
- A probate valuation may be required from an Estate Agent on an Estate property. The Estate Agent may charge a fee for such a valuation.
We can give you a more accurate estimate once we have more information.
Dealing with the sale or any transfer of property in the Estate is not included in our fee.
If you require any assistance, guidance or clarification on our costs, or simply wish to make an enquiry, then please do not hesitate to telephone us on 024 7644 8585 or email enquiries@hammonssolicitors.co.uk
Robert Brown is based at our Park House Office, telephone number 02476 699044.
Inheritance Tax
An Estate with a value of £325,000.00 may attract Inheritance Tax.
We can only advise on whether Inheritance Tax would be payable, and the amount, on being instructed to act on your behalf and having all of the necessary information.
A helpful guide to Inheritance Tax and the potential liability can be found on the HMRC's website.
How long will this take?
On average, straightforward Estates are dealt with within 6-12 months. Typically, obtaining the Grant of Probate/Letters of Administration takes 6-12 weeks. Collecting assets then follows, which can take between 6-10 months. Once this has been done, we can distribute the assets, which takes about 1 month.
Fixed Fee 'Grant Only' Service
We can help you through this difficult process by obtaining the Grant of Probate or Letters of Administration (where a person dies without a Will) on your behalf.
We offer a fixed price service for simply obtaining the Grant only and not undertaking the collecting and distributing of assets, or any other part of the Estate's administration.
Our Fixed Fee is based on the following scale:-
EXTRACT GRANT ONLY
| Gross Estate - Up to £150,000.00 |
£550.00 plus VAT Disbursements of £155.00 plus 50p for each office copy |
| Gross Estate - Up to £250,000 |
£595.00 plus VAT Disbursements of £155.00 plus 50p for each office copy |
| Gross Estate - £250,000.00 to £325,000.00 |
£650.00 plus VAT Disbursements of £155.00 plus 50p for each office copy |
|
Gross Estate - £325,000.00 but under £650,000.00 Need IHT217 form to claim Unused Nil Rate Band - No Inheritance tax due |
£750.00 plus VAT Disbursements of £155.00 plus 50p for each office copy |
|
Inheritance Tax Due IHT400 together with Schedules |
£1,500.00 plus VAT Disbursements of £155.00 plus 50p for each office copy |
This fee is based on you supplying all of the information and evidence of the value of the Estate's assets and liabilities (e.g. bank statements, funeral account etc) to enable us to prepare the Oath for you to swear and the HMRC Form.
This fixed fee service is not available in Estates where Inheritance Taxi is payable and the personal representatives are required to submit a full account to HMRC.
The quote for Estates where:-
- There is a valid Will
- There is no dispute on the entitlement to take out a Grant
- there are no claims made against the Estate.
On average, this service takes 4-6 weeks from you instructing us to obtain the Grant.
For this fee and service, you will see our dedicated and experienced Probate Solicitor, Miss Sophie Mack, to work on your matter.
To make an enquiry or arrange and appointment, please do not hesitate to contact us on 024 7644 8585 or email enquiries@hammonssolicitors.co.uk
Robert Brown can be contacted on 02476 699044.
Contact Us for more information on Wills
