Probate
Probate and administration of estates can be a daunting process
Executors have a considerable number of responsibilities as well as dealing with a particularly difficult time in life.
Josolyne LLP is licensed by the ICAEW to carry out non–contentious probate work and we offer competitively-priced probate and estate administration services. You can choose to pass the entire process to us or we can help in those areas you need most support.
We can provide the following probate services:
⦁ Find out if you need probate
⦁ Work out the value of the estate
⦁ Help with the probate application
⦁ Calculate any Inheritance Tax payable
⦁ Collect and distribute the assets
⦁ Pay expenses and taxes
⦁ Prepare Estate Accounts for the beneficiaries
⦁ Pay the estate to the beneficiaries
Please find details of timescale, costs and other frequently asked questions on the right. When you are ready, use our contact page to request a free no-obligation consultation with one of our probate advisors.
While it used to be the case that probate was handled by a solicitor, since 2014 accountants have been able to legally assist with uncontested probate (the vast majority of cases). While you can still use a solicitor for probate, it makes more sense to turn to your accountant, as the solicitor involved would usually have to consult an accountant in the process anyway.
Solicitors and accountants often operate on a time-spent business model, so if all the information is at the fingertips of the deceased person’s accountant then time is used more efficiently, fewer enquires need to be made, and the whole process becomes simpler and cost-effective. Some solicitors charge on % of the estate, so in those cases their services may be very costly.
Complaints
Of course, we strive to do our very best for all of our clients, so if you are in any way unsatisfied with our services please contact us as your first point of call or in writing to our office.
If your complaint cannot be resolved with us directly you are encouraged to escalate your complaint to the ICAEW and / or the Legal Ombudsman.
As we are licensed for the reserved legal activity of non-contentious probate, in the unlikely event that we cannot meet our liabilities to you, you may be able to seek a grant from ICAEW’s Probate Compensation Scheme. Generally, applications for a grant must be made to ICAEW within 12 months of the time you become aware, or reasonably ought to have been aware of the loss. Further information about the scheme and the circumstances in which grants may be made is available on ICAEW’s website: www.icaew.com/probate.
hat is probate?
‘Probate’ is a legal term generally used when talking about applying for the right to deal with a deceased person’s affairs (called ‘administering the estate’). Different terms are used in practice, depending on whether or not the deceased person left a will.
We can guide you through the whole process and provide you with all of the advice and support you will need.
How much does it cost?
The cost of administering an estate depends on the type and value of assets, who inherits and if there is inheritance tax to pay. It will also fluctuate based on the amount of work you want us to do on your behalf, and the work you may be prepared to do yourself. Our fees are calculated purely based on a time spent basis and not on a fixed percentage of the Estate. We charge on a time basis at the following hourly rates:
Partner £235.00
Probate manager £185.00
Probate assistant £65.00
These rates are subject to VAT, currently 20%.
How long does it take?
The time taken to deal with an estate varies depending on the complexity. For example, it might only take around 3 months for a very straightforward estate where there is no tax to pay, 6 to 8 months for a straightforward case with tax to pay, and more than 12 months if the estate is more complex. We can provide a better guide once we have more information.
What if there is no Will?
If a person dies without leaving a Will or the Will that is left is invalid, they are said to have died “intestate”.
For deaths on or after 1 October 2014, if an individual is survived by a spouse or civil partner but no children or remoter issue, the entire estate will go to the surviving spouse or civil partner. What happens to the deceased person’s estate depends on who that individual is survived by.
If the deceased individual is survived by spouse/civil partner and children or remoter issue, the surviving spouse or civil partner will receive the first £250,000 and half of the excess over £250,000. The children will receive the other half of the excess equally between them.
Other rules determine who will inherit if there is no surviving spouse or children, it is therefore important to take professional advice.
All firms accredited for probate services are required to collect, report, and publish data about partners and staff on the firm’s website. We welcome diversity and the benefits that it brings to the firm and seek to employ suitable partners and staff regardless of age, gender, ethnicity, and belief. Please see our latest report here.
Our services
Every client is unique and deserves a unique service. Our philosophy is to put our clients first – to understand their situation and provide a first-class service tailored to their specific needs.
Because we establish a one to one relationship with each client, we are able to offer timely, individual advice on how to improve your business or personal finances.
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Contact us
Please contact us today for a chat and to arrange a free no obligation consultation.