Wills and Probate
Did you know that if you die without leaving a will your estate will be divided according to a strict legal formula? This may not be in accordance with your wishes as this is often contrary to what you would want or expect.
A Will allows you to;
- Choose whom you would like to benefit from your estate
- Make provision for gifts or possessions to pass to a particular person
- Choose a guardian to look after your children
- Choose who you would like to manage and take care of your affairs after death
- Plan for Inheritance Tax and minimise or eliminate tax liability
We offer a prompt efficient fixed fee will service.
We also offer a full probate service and can help you administer an estate with sympathy and efficiency.
Costs for the preparation of Standard Wills:-
A Standard Will for an individual assumes that the person making the Will makes provision for one or two legacies and then leaves his/her estate directly to one individual with a gift-over provision in the event of that individual passing away before the person making the Will.
A Standard Will for a couple is a mirrored Will in which the couple agree their beneficiaries and provide that on first death the entire estate passes to the other and on the second death to their children.
The cost of any Wills which have more complex requirements will vary according to complexity but would usually cost between £250 and £500 plus VAT. In the event you do not ask us to proceed to prepare a draft Will, our charges will be limited to the time spent and advice provided at our initial meeting. This would normally be in the region of £100 plus VAT.
FORM OF RENUNCIATION FOR EXECUTORS
£150 plus VAT
DEEDS OF VARIATION
£400 - £500 plus VAT
APPLICATIONS FOR A GRANT OF PROBATE OR LETTERS OF ADMINISTRATION
If you require us to assist with obtaining a Grant of Probate or Letters of Administration and you have full details of assets and only a short form of IHT is required then our costs would be £900 plus VAT plus the Probate Court fee.
If a more detailed IHT form is required then our fees will be £1500 plus VAT plus the Probate Court fee.
If we are instructed to deal with the full administration of the estate including obtaining asset valuations and distribution then our charges will be based upon the fee earners hourly rate and the value and nature of the estate. These fees usually fall somewhere between £3,000 and £5,000 plus