We advise on all aspects of trust and estate planning, whether generally or in a commercial context.
- Creation of both domestic and offshore trusts
- Asset Protection in relation to Care Home Fees, Divorce, Bankruptcy
- Declarations of Trust for joint property owned in unequal shares
- Lasting Powers of Attorneys & Issues on Mental Capacity
- UK and international tax planning
- Inheritance issues both in the UK and internationally
- Preparation of Wills for both international and UK-based clients
- Estate related tax advice for both international and UK-based clients
- Post-death tax planning
- Administration of estates including those with assets in a number of jurisdictions and those involving international conflicts of law
We work closely with all of our colleagues throughout the firm together with our associated office located in Guernsey to ensure that when it comes to tax, our clients receive a platinum service.
SRA Transparency Rules: Probate – collection & distribution of money, property & other assets belonging to x following their death (within UK & matters are not contested)
We must clearly express our charges & state whether VAT or disbursements are included.
Avoid estimating charges at unrealistically low levels.
Do not advertise estimates/fixed fees without stating additional charges might apply.
|Average/Range (if total not available)||TIER 1 – £3,500 to TIER 3 – £35,000 plus VAT|
|Disbursements Total||£155 – Court Fee
50p per Office Copy of Grant – usually £4
£2 bankruptcy search (per beneficiary / beneficiary’s name)
|Average Disbursements (if total not available)||~£300 Advertisement for Creditors in Law Society Gazette and one local/national newspaper|
|Conditional/Damages based fees||?|
|Does price include VAT?||VAT to be added when applicable on solicitors fees; disbursements quoted include VAT|
|Specify exactly what is included in the price displayed||All Tiers:
1. Clients to complete Probate Questionnaire & discuss in 30 minute meeting;
2. Once instructed – notify banks and other asset holders and gain date of death valuations for assets and liabilities;
3. Prepare Schedule of Assets and Liabilities, confirm with client and use as a basis for forms;
4. Complete IHT forms and Oath and arrange for their execution;
5. [Pay any IHT- not Tier 1] & Apply for Grant;
6. With Grant, collect assets in and settle liabilities;
7. Pay any legacies;
8. Prepare Estate Accounts to be signed by executors;
9. Once signed distribute residue of estate
TIER 1 – £3,500 plus VAT – The simplest estate where the Deceased died fully testate (with a valid original Will) appointing living executors located in the UK and willing to act with no IHT liability or domicile issues or trusts with known, locatable, adult, capable individual beneficiaries (no tracing required / no charities); no conflicts or applications under I(PFD)A 1975 Act made or statutory advertisement for creditors required and clients to deal with utilities at any property and council tax liability etc and obtain 3 date of death valuations from agents.
TIER 2 – £4,000-£8,000 – In addition to TIER 1 up to 5 of the issues described below
1. Intestacy: a further £650-£900
2. Lost Will/duplicate: a further £650-975
3. Renunciation by an executor: a further £975
4. Foreign domicile: a further £650-£975
5. Trusts: a further £975- £1,950 depending on type of trust, starting from bare, to interest in possession to discretionary
6. Missing beneficiaries: £975-£1,300 and tracing agent fees
7. I(PFD)A 1975 Act claim against the estate: £975-£1,625 depending on matter
8. Statutory Adverts: £325 + disbursements
9. Underage beneficiaries or charities: £325 per beneficiary
10. IHT payable: £1,300-£1,950
11. Partial intestacy / intestacy: £1,300-£1625
12. Mental capacity issues in execs or bens: £975-£1,300
13. Bankruptcy checks: £50 per beneficiary (+ £2 search fee)
14. Deed of Variation: £975-£1,300
15. Issues re validity of Will: £650-£1,300 depending on whether witness affidavits necessary
16. Gifts adeemed/lapsed/contingent: £325-£650 per gift
17. Disputed assets of estate/claims of constructive trusts: price dependant on claim
18. Lifetime gifts: £325-£650 per gift
19. Deceased member of Lloyds – price dependent on whether Court application nec
TIER 3 – £8,500-£30,000+
Complex matters with more than 4-5 additional matters in TIER 2 and proceeding on hourly rate but quote given on the basis of the information provided at the outset.
|Range of costs or basis for charges (to include hourly rate(s))||Most work carried out by solicitor with over 10 years’ experience in Private Client work and a charge out rate of £325 plus VAT.
Assisted occasionally by Paralegal (£90 plus VAT) and Trainee (£150 plus VAT).
|What services are included for the quoted price?||Advice on estate’s IHT position and services for all Tiers (as above)
|Highlight any services that aren’t included in the price but the client may expect to be||The sale of any property contained in the estate;
Capital Gains and Income tax advice for executors (or beneficiaries) and their Accounts for the administrative period
Advice regarding IHT mitigation – unless in higher Tier
|Key stages & timescales||Within 6 months of death: Completion & submission of IHT forms with any IHT payable & application for a Grant.
Within 2 years of death: complete administration of estate.
Within 6 months of Grant: any I(FD)A 1975 Act challenge