Estate Administration

Whether or not a person has left a Will- a grant of representation may need to be obtained in order to settle their financial affairs. The current limit for when a grant of representation is required is £5,000.00. Therefore; if you pass away and own a property then either probate of letters of administration must be granted.
Estate-adminitration

Probate is the legal document that entitles the Executor to administer the estate when a person leaves a Will.

Letters of Administration are granted to the Administrator in matters when a person dies without leaving a valid Will- otherwise known as “intestacy”. If this is the case then strict intestacy rules must be followed.

At Coates Solicitors, we have vast experience and knowledge in both scenarios. We also understand that each matter is individual.

The process of administering an estate includes: establishing what assets exist, finding who is entitled to what, gathering in the assets, settling any debts and applicable tax and distributing the proceeds to those whom are to benefit.

Why not call our Sheffield office or email us for a free quote.
We also offer a 30 minute free interview at the outset of each matter.

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Pricing

1. Fixed Fee Probate- grant only

We can help you through the process by simply obtaining the Grant of Probate on your behalf for £600.00 + VAT (if there is no Inheritance Tax payable). There may be disbursements associated with this application which are detailed below:

Probate Court Fee- £155.00 plus £1.50 per extra copy.
Money Laundering- £6.30
Certainty Will Search- £118.00
Landmark Financial Asset Search- £186.00
Office Copies- £3.00
Bankruptcy Costs- £2.00

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.

We can for an additional cost also undertake the collecting and distributing of assets. (This would incur extra charges on our hourly rate)

2. Full Probate Service – Applying for the grant, collecting and distributing the assets

Our charges for dealing with the full administration of the estate are in accordance with Law Society Guidelines which take into account the amount of time we spend dealing with matters and also the value of the estate. Our hourly charges are a maximum of £200.00 per hour for our solicitor. Our charges are based on the total value of the estate. If we are appointed as Executors then there will be additional time spent.

The following charges may therefore apply:

i) Total value of Estate less the value of the residential property 1%

ii) Residential property 0.25%

The exact cost will depend on the individual circumstances of the matter. Please telephone the offices and we can provide you with a bespoke quote beforehand.

On average, estates are dealt with within 3-12 months. This timescale depends upon how quickly we receive information of the estate from the parties involved. This will also depend on any Statutory Notices or waiting periods advised on a case by case basis.

As part of our Full Probate service we will:

  • Ensure your matter is dealt with by a solicitor
  • Identify the legally appointed executors or administrators and beneficiaries and the type of Probate application you will require
  • Obtain the relevant documents required to make the application
  • Complete the Probate Application and the relevant HMRC forms
  • Draft a legal paperwork for you to sign
  • Make the application to the Probate Court on your behalf
  • Obtain the Probate and securely send copies to you
  • Collect and distribute all assets in the estate
  • Provide full Estate Accounts to the Executors and Residuary Beneficiaries to provide a transparent record of the liabilities and assets of the estate.

The above costs do not include any transfer or sale of the property. We can provide you with a conveyancing quote separately.