Probate and Estate Administration Lawyers Liverpool & London
It is a common misconception that the only people who require a Grant from the Probate Court are those that have died without a Will. This could not be further from the truth.
The Grant evidences the death of an individual who owns assets in their name and the legal right of the named personal representative to administer the estate – i.e. they can collect in the assets, discharge the debts and distribute to the beneficiaries.
- Holding a death certificate proves a person has died, but not that you are entitled to their estate.
- Holding a 2000 Will evidences what the deceased wanted at the turn of the millennium but does not ‘prove’ that the deceased had not written a newer Will in 2019 gifting everything to the Donkey Sanctuary.
Two distinct fee structures are offered:
- Often the family solely require our assistance to complete the relevant IHT205 or IHT400 Tax Return and to apply to the Probate Court for the relevant Grant and Gregory Abrams Davidson Solicitors will only undertake items 3 & 5 below with the benefit of a Fixed Fee or
- Due to complexity, estate value, number of potential beneficiaries, emotional turmoil or the need for a lay executor to obtain personal protection when not a beneficiary themselves, Gregory Abrams Davidson Solicitors will administer the estate from beginning to end undertaking items 1 to 17 below (as appropriate to the estate) chargeable at our hourly rate
The administration work may include:
- 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.
- Gathering details of the assets and liabilities of the estate involving correspondence with banks, building societies, etc and the commissioning of valuations where necessary.
- Preparing the papers to apply for the grant of Probate, including an Inheritance Tax return where necessary.
- 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.
- Lodging the application for Probate, filing an Inheritance Tax return where necessary and dealing with payment of any Inheritance Tax.
- Initial correspondence with beneficiaries to advice of their entitlement and the estimated time scale.
- Arranging the placing of statutory notices advertising for any creditors.
- 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.
- Advising on the transfer or disposal of other assets in the estate.
- 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.
- Arranging payment of the funeral account and any other bills and expenses.
- Arranging payment of legacies.
- Correspondence with the Capital Taxes Office to agree the value of the estate, any tax reliefs, and the Inheritance Tax payable.
- Making distributions to the residuary beneficiaries.
- Preparing financial accounts of the administration of the estate for the Personal Representatives and residuary beneficiaries.
- 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.
- Preparing Deeds of Variation and Assents where required
Our Private Client Department offers fixed fees for Grant Only application. Please refer to Table 6 within our Costs Table.
Our Private Client Department works upon an hourly rate for Estate Administration. Please refer to Table 8 within our Costs Table
Contact our probate solicitors in Liverpool & London today
Our experienced private client solicitors can guide you through the process of applying to the Probate Court to obtain a Grant and administering the estate. call us today on 0151 236 5000 for our Liverpool office or 020 8209 0166 for our London office or complete our online contact form for more information.