01869 226760 / 07817 685043 gail@bicesterwills.co.uk

Probate

Probate

After a loved one has died, there comes a point at which their assets and liabilities must be dealt with. This is always difficult, but it’s a process which Bicester Wills & Probate will help make as straightforward as possible.

Dealing with a Will and obtaining a Grant of Probate can be a complex, time consuming and stressful process, at a time when the need to grieve is still very real.  Bicester Wills & Probate   can guide executors and personal representatives through this process

Bicester Wills & Probate offer clear and focused legal advice on probate – and can guide executors at every stage of the process, to make sure it goes smoothly and with as little stress as possible.

Bicester Wills & Probate offer competitively-priced fixed fees for their Probate Assistance services.

Please call 01869 226760 to see how we can help.

What is Probate?

Probate is a legal process which applies when a person dies and their assets such as money and property are valued and distributed among their heirs.

Probate applies whether the decedent made a Will or not – if a person dies intestate, a close family member can act as their personal representative and appoint other executors and an expert, to help administer the estate and apply for a Grant of Probate, so that their assets can be distributed.

A Grant of Probate is necessary if a person owns a property and/or has money held in bank accounts. Some financial institutions have limits above which Probate will be required, so taking expert advice on obtaining a Grant of Probate can be helpful in most cases – and essential in some cases.

What happens during applying for a Grant of Probate?

The first stage is to value the estate and assess entitlement to the estate, as well as any Inheritance Tax or Capital Gains Tax that must be paid.

  • The next stage involves applying to the Probate Office for a Grant of Representation to enable the estate to be administered and distributed – accounts for the distribution must be kept detailing who received the assets.
  • The accounts must be approved by the executors of the will before the assets can be distributed.
  • The assets are then distributed to beneficiaries named in the Will – or close family members if there is no will – until all assets and property have been distributed.

Our Fixed Fee Probate Assistance Service is offered on 2 options

Option 1: Grant Only Service

Fixed Fee £1200

The Probate Registry Will also charge an application fee.

Suitable for you if:-

You are the executor of an estate that does not need a full inheritance tax return and you would like us to deal with the application for the grant of probate after you have established a list of assets and values.

What’s included in the fee:-

  • Meeting with you to confirm the value of the estate and collecting documentation
  • Completing the Return of Estate Information form IHT205
  • Completing the Probate Application form PA1
  • Meeting with you  to review the forms and obtain signatures
  • Submitting the grant application to the Court
  • Obtaining the grant bearing the Court seal ready for you to use to distribute the estate.
Option 2: Obtaining Estate Values and Applying for the Grant

Fixed Fee £1750.00

The Probate Registry Will also charge an application fee

Suitable for you if:-

You are the executor of an estate that does not need a full inheritance tax return and you would like us to deal with obtaining a value for the estate, obtaining information from each asset provider, bank and building society etc and dealing with the application for the grant of probate.

What’s included in the fee:-

  • Meeting with you to collect a list of the assets so as to establish the extent of the estate
  • Dealing with each asset provider and estate agent, if necessary, to obtain the value of the estate
  • Completing the Return of Estate Information form HT205
  • Completing the Probate Application form PA1
  • Meeting with you  to review the forms and obtain signatures
  • Submitting the grant application to the Court
  • Obtaining the grant bearing the Court seal ready for you to use to distribute the estate.

If a self assessment tax return is required to the date of death our Accountant contacts can prepare this for an additional fee of £150.00

Services

    

Bicester Wills is a informative and friendly service. Tina H

Tina H