It is very important for everyone to make a will, but it something that is often put off by most people. By planning and making a will, you can be sure that your estate will pass to the person or people you choose. It also makes life easier for those left behind after your death, as they can be sure that they are following your wishes.
Most married people do not realise that their husband or wife will not automatically inherit everything they own from each other upon death if they die without leaving a will. Likewise, unmarried partners who live together do not automatically inherit each other's property and belongings. Proper tax planning whilst making a will can also reduce the burden on those left behind, as it can avoid the unnecessary payment of inheritance tax upon death. For parents making a will, perhaps their most important consideration would be who you would wish to look after your children if you were to sadly die. We can assist you to explore all of these areas and our experienced staff will guide you through the process to ensure that your estate is taken care of as you would like.
At Wykes O'Donnell Williams we have a number of probate experts who can help executors and administrators obtain the necessary authority to deal with estates directly from the Probate Registry and assist in carrying out work to administer estates. We are also experienced at both bringing and defending contested claims against estates upon behalf of children, divorced partners, unmarried and same-sex partners. In the event that someone close to you has died without providing for you financially, as you may have expected, please contact us straight away for advice as there are strict time limits for bringing a claim.
We are happy to arrange home or hospital visits where it maybe difficult for clients to attend our offices.
If you require advice and assistance in relation to any of the above matters, please do not hesitate to contact us.
Applying for a grant of probate/letters of administration and collecting and distributing assets We will handle the process for you. Our fees are charged at hourly rates, depending on who is handling your case.
Our hourly rates are:
- James Newton, Partner with over 23 years experience, £200 per hour plus VAT (total of £240 per hour)
- Claire O'Donnell, Partner with over 18 years experience, £200 per hour plus VAT (total of £240 per hour)
- John Sutcliffe, Consultant Solicitor with over 40 years experience, £250 per hour plus VAT (total of £300 per hour)
We charge on an hourly basis and so the total cost of your matter will depend on the time taken to complete it. The average estimate of our fees for dealing with an estate is between £2,000 to £5,000 plus VAT at 20% (£2,800 to £6,000) and disbursements. The exact cost will depend on the hourly rate being charged and on the individual circumstances of the matter. For example, if there is only one beneficiary and no property, our charges will be at the lower end of the scale. If there are multiple beneficiaries, our charges will be at the higher end of the scale.
Our average estimate of fees assumes that:
- There is a valid and undisputed will
- That there is one deceased estate
- There is no more than one property included in the estate
- There are no overseas assets and the estate is in England and Wales
- There are no more than 10 assets (such as bank, building society accounts, shares, pensions etc) and none of the assets are business assets
- There are no more than 5 beneficiaries.
- There is no inheritance tax payable and the executors do not need to submit a full inheritance tax account.
- There are no lifetime tax issues which require resolution in order to complete the estate, such as income tax or capital gains tax.
- There are no disputes or claims in the estate
- Fees for sale of property are not included
- The estate is valued at more than £5,000
In addition to our fees, disbursements (ie payments to third parties) are also required. We usually handle the payment of these on your behalf.
The type of disbursements which are incurred are:
- Advertisements for creditors £250 plus VAT at 20% (£300) to £400 plus VAT at 20% (£480)
- Court fee of £300 plus £1.50p for each sealed copy grant required. You will normally need one copy grant per asset.
- Bankruptcy search fee £2.00 plus VAT at 20% (£2.40) per beneficiary
Additional fees may also be incurred to sell or value assets, such as land/property, business assets, shares or personal effects.
Income tax and capital gains tax plus any accountancy fees may need to be paid if they are required to finalise the deceased's tax affairs.
As part of our service, we will provide you with a dedicated and experienced probate solicitor to work on your matter. We will identify the type of probate application you will need to make and draft the necessary application and oath for you to swear. We will make the application to the Court on your behalf, obtain the grant and a sealed copy and will collect and distribute the assets in the estate.
On average, estates that fall within this range are dealt with within 6 months to a year. Typically, obtaining the grant takes 2 to 3 months and once this has been done the assets can be collected and distributed. If estates are more complicated, or inheritance tax is payable, then estates usually are dealt with within 1 year to 18 months.
Factors that may make our fees higher than the average:
- If there is a sale or transfer of any land/property as part of the estate.
- If there are any foreign assets or debts outside the UK.
- If we have to register the death, obtain a medical certificate or organize a funeral on behalf of the estate.
- If we have to deal with any tax issues relating to the deceased's lifetime affairs or those relating to the administration of the estate.
- If we have to trace missing beneficiaries.
- If we have to advise or deal with any variation of the will or intestacy, or if there are any disputes concerning the validity of the will or claims made against the estate.
- If an interim distribution of the estate is required before the final distribution is paid.
- If the estate involves the sale or transfer of business assets.
- If we have to deal with more than 20 assets/liabilities and more than 5 beneficiaries.
- If we have to travel to locations outside of our office to deal with any part of the estate.
- If any trusts have to be dealt with as part of the estate administration.
- If any beneficiaries are under 18 years of age or do not have capacity under the Mental Health Act.
- If our Firm has been appointed as Executor.
If any of these apply then our fees would normally be higher.
Fixed rate charges
| Service | Fees |
|---|---|
| Straightforward single will | £208.33 plus VAT at 20% (total fee £250) |
| Straightforward mirror wills for a couple | £291.67 plus VAT at 20% (total fee £350) |
| Fee for home visit (within a 10 mile radius) | £100 plus VAT at 20% (total fee £120) |
