Private Client Department Services

Table 1

Wills

Table 2

Powers of Attorney

Table 3

Trusts

Table 4

Supplemental

Table 7

Lifetime Administration

• Gathering relevant financial and family history
• Establishing (testamentary) wishes and determine whether specific additional advice required in light of the information provided
• Ascertaining capacity and dealing with issues that arise if cognitive impairment present
• Preparing relevant draft papers
• Providing detailed commentary upon the draft paperwork
• Advising upon third party rights where relevant
• Advising upon tax consequences of instructions
• Advising upon claims under Inheritance Act and Foreign Jurisdictional issues (if relevant)
• Advising upon the appropriate appointment of executors, trustees, attorneys and guardians and the cost implications of the various appointments
• Attending to the formal execution of the approved documents
• Lodging documents with Probate Court, Office of Public Guardian, HM Land Registry, HM Revenue & Customs or offering Deeds store facilities as appropriate
• Advising upon Costs as per Fixed Fee and Hourly Rate Tables above

Table 6

Grant Only application

(NB – proposed actions 3 & 5 only)

Table 8

Probate Work (full administration)

(Actions 1 – 17 as appropriate and case specific)

1. Initial advice to the Personal Representatives on the effect of the Will (and any issues of validity) or the Intestacy Rules, their responsibilities and potential liabilities in administering the estate.
2. Gathering details of the assets and liabilities of the estate involving correspondence with banks, building societies, etc and the commissioning of valuations where necessary.
3. Preparing the papers to apply for the grant of Probate, including an Inheritance Tax return where necessary.
4. Advising on the extent of any liability to Inheritance Tax in respect of the estate and any lifetime gifts, and means of raising funds to settle any such liability.
5. Lodging the application for Probate, filing an Inheritance Tax return where necessary and dealing with payment of any Inheritance Tax.
6. Initial correspondence with beneficiaries to advice of their entitlement and the estimated time scale.
7. Arranging the placing of statutory notices advertising for any creditors.
8. Sending copies of the grant to banks, building societies and others holding money and property, with the instructions of the Personal Representatives for closure or transfer of the accounts.
9. Advising on the transfer or disposal of other assets in the estate.
10. Collecting and paying estate money into our client account, where it will be subject to the protection of the Law Society’s rules regarding solicitors’ firms’ handling of clients’ money.
11. Arranging payment of the funeral account and any other bills and expenses.
12. Arranging payment of legacies.
13. Correspondence with the Capital Taxes Office to agree the value of the estate, any tax reliefs, and the Inheritance Tax payable.
14. Making distributions to the residuary beneficiaries.
15. Preparing financial accounts of the administration of the estate for the Personal Representatives and residuary beneficiaries.
16. Reporting to the local Inspector of Taxes with details of any income received or capital gains realised by the Personal Representatives in administering the estate and providing tax deduction certificates to the residuary beneficiaries where necessary.
17. Preparing Deeds of Variation and Assents where requested / appropriate.