Wills & Probate
Make sure your family is provided for by setting out your wishes of who you wish to leave your wealth, property, assets and possessions to upon your death, in your Will.
Whilst it is true that people do not tend to think about mortality or about making a Will until much later in life, a Will is something one can put in place from the Age of 18, which will then set out who they wish their assets and wealth to pass to upon their death.
Our legal team are experienced at drafting Wills to ensure that the testamentary wishes of the Client are put into effect. We draft Wills with the upmost care and attention, as after all, this is one of the most important documents one signs in their entire life.
Often Probate is a complicated and difficult task to manage, whereby it is very involved. The Executors often have little or no idea of which way to turn. Where you have lost a loved one, you can find comfort at Baileys Solicitors, where we offer a friendly and experienced service of obtaining a Grant of Probate where there is a Will. We also assist in applications made to the Probate Registry for Letters of Administration where the deceased died intestate (without a Will).
We pride ourselves in providing a competitive fee to deal with the Administration of the Deceased Estate, including obtaining the Grant of Representation, gathering the assets/liabilities, and distributing the Estate in accordance with the Will or the Intestacy Rules should there be no Will.
What we will do for you
- Provide you with a dedicated and experienced Probate Solicitor to work on your matter.
- Identify the Legally Appointed Executors or Administrators and Beneficiaries.
- Accurately identify the type of Probate Application you will require and assisting you in making such Application.
- Obtain the relevant documents required to make the Application.
- Collect all assets in from all Financial Institutions.
- Complete the Probate Application and the relevant HMRC Forms.
- Draft a Legal Oath for you to Declare under Oath.
- Make the application to the Probate Court on your behalf.
- Obtain the Probate and securely send two copies to you.
- Collect and distribute all Assets in the Estate once an Estate Account and schedule of Assets and Liabilities is prepared by us and approved by you prior to the distribution in accordance with the Will or Intestacy Rules.
We provide our fees on the gross Estate of the deceased whether held solely or jointly.
Estates between 0 - £180,000.00 – £2,700.00 + VAT = £3,240.00
Estates between £180,001.00 - £360,000.00 – £4,500.00 + VAT = £5,400.00
Estates between £360,001.00 - £500,000.00 - £6,300.00 + VAT = £7,560.00
Estates between £500,001.00 - £750,000.00 - £9,000.00 + VAT = £10,800.00
Estates between £750,001 - £1,000,000 will be charged at 1.5% + VAT of the gross estate.
Estate between £1,000,001 - £1,500,000 will be charged at 1.8% + VAT of the gross estate.
Estate between £1,501,000 - £2,000,000 will be charged at 2.25% + VAT of the gross estate.
Please note that the prices above are provided on the understanding:
- That there are no more than 12 assets/liabilities to deal with.
- There are no assets outside the United Kingdom.
- There is no more than one property.
- There are no other intangible assets.
- There no more than 3 Beneficiaries.
- There are no disputes between Beneficiaries on division of Assets. If disputes arise this is likely to lead to an increase in costs.
- There is no inheritance tax payable, and the executors do not need to submit a full account to HMRC.
- There are no claims made against the Estate.
Note: Our charges will vary if any of the above assumptions are not in place i.e. if there is property outside of UK or if there is more than one property, and if there are more than three beneficiaries etc.
Potential additional costs
If there is no Will or the Estate consists of any Shareholdings (Stocks and Bonds) there is likely to be additional costs that could range significantly depending on the Estate and how it is to be dealt with. We can give you a more accurate quote once we have more information.
Dealing with the Sale or Transfer of any property in the Estate is not included.
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 anticipate the usual following disbursement(s):
Advertisement in the London Gazette and the Local Paper - £300.18
Probate Fee - £160.00 plus (£0.50 for each Sealed Copy of Grant of Probate and we typically request 10 Sealed Copies)
Deceased Credit File Report - £20.00 + VAT (£24.00)
Should there be any other disbursements we would advise you in writing accordingly.