Wills & Probate
Whilst it is true that people do not tend to think about mortality or making a Will until much later on in life, a Will is something one can make from the age of 18, stating who they wish their assets and wealth to pass to upon their death.
Our legal team are experienced at drafting Wills and putting the wishes of the Client into effect. We draft Wills with great care and attention to detail as after all this is one of the most important document one signs in their life.
Sorting out the legal and financial affairs of the deceased person can often be a complicated and messy task, with the Executors often not having any idea of which way to turn. At Baileys we offer a friendly and experienced service of obtaining a Grant of Probate where there is a Will and also Letters of Administration where the deceased intestate.
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 disturbing it 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
Obtain the relevant documents required to make the application
Collect all assets
Complete the Probate Application and the relevant HMRC forms
Draft a legal oath for you to swear
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
We provide our fees on the gross estate of the deceased whether held solely or jointly.
Estates between 0 - £360,000.00 – £3,600.00 + VAT = £4,320.00
Estates between £360,001.00 - £500,000.00 - £6,000.00 + VAT = £7,200.00
Estates between £500,001.00 - £750,000.00 - £7,500.00 + VAT = £9,000.00
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 1.65% + VAT of the gross estate.
Estate between £1,501,000 - £2,000,000 will be charged at 1.8% + 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 property outside of UK or if there is more then one property, and if there are more then 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 advice you in writing accordingly.