Estate Administration/Probate

 

Sandra Deacon is qualified to carry out non-contentious probate work and is authorised and regulated by the ICAEW for probate services. 
 

Probate is a complex area that is required in a lot of situations when someone dies. Deacon’s is able to provide assistance with this process and by having a detailed knowledge of you and your business, we are often better placed to deal with your affairs than perhaps solicitors who may only see you at the point of drawing up a Will.
 

We can either assist the appointed Executor(s) or take on this role if authorised by the Estate. Unlike many firms of solicitors, our fees will not be based on a percentage of the Estate. Instead, our fees are calculated on the basis of the time spent on your affairs.
 

It typically takes between 6 and 12 months to obtain a grant of probate. However, where the Estate does not require an inheritance return to be submitted, the process will be much quicker as HM Revenue & Customs may take up to 12 weeks to review the return. The timescales may be affected by matters such as:

• Collating all the relevant information about the Estate which can be more challenging if the Deceased did not keep details records of their assets;
• Ensuring that all Executors are happy to carry out their responsibilities (as if they wish to renounce, this can add time to the process) and have adequate time available to do so.
• Identifying and communicating with the beneficiaries of the Estate. 
• Liaising with other external advisers, such as valuers, estate agents, accountants and financial advisers.
• Where the Estate includes land and property, this tends to increase the timescales for the process.
• If there are overseas assets, these can also extend the timescales.

Depending on the levels of skill and responsibility required, our hourly rates for the purpose of calculating these fees (exclusive of VAT) are:

• Partner: £150
• Manager: £125
• Assistant: £65
• Secretarial Support: £45

In addition, we will charge disbursements, including:

• Probate application fee (currently £215).
• Additional copies of the grant of representation (£1.50 per copy).
• Notary or commissioner’s costs to swear the oath.
• Travel, accommodation and other expenses incurred in dealing with your affairs. 

We are happy to have an initial free of charge meeting, where we will liaise with you to assess which services you require and will then be able to offer you an indication of the likely cost of our services. The fees for an average Estate are likely to be approximately £3,000-£5,000 plus VAT and disbursements. 

 

We will keep you informed of our costs in relation to the probate work and liaise with you if the costs are likely to be greater than our initial estimate.

 

Management Buy-Outs & Company Valuations

 

Deacon’s has extensive experience in this area and has undertaken these on numerous occasions. We are able to advise on all stages of the process whether this be a valuation purely for tax purposes or for more commercial means.

 

Give us a call for a friendly, no obligation chat ... or make an appointment to pop in and see us at our offices just outside Saffron Walden.