Probate Services
Probate Services deal with the financial and legal aspects arising when someone dies. It involves administering the deceased’s estate, from identifying assets to distributing them according to their wishes.
Who Needs Probate Services?
Probate impacts almost everyone at some point in life – whether you’re inheriting or handling a loved one’s affairs after their passing. Dealing with probate, especially during grieving, can be stressful. Complex situations, like blended families or business interests, can lead to disputes. That’s where professional guidance becomes crucial, providing impartial support to ease the situation while experts handle practical matters.
Our Probate Services
We handle all necessary notifications to banks, HMRC, pension providers, and other institutions upon the passing of an individual.
We assess eligibility for bereavement benefits and allowances to ensure that all entitled reliefs are claimed.
We ensure all outstanding tax obligations are settled, including finalising income tax, capital gains tax, and other liabilities of the deceased.
We assist in verifying the validity of the will and ensuring that all legacies are appropriately distributed as per the deceased's wishes.
We assist in locating and verifying beneficiaries to ensure the estate is distributed to the rightful heirs.
We provide expert advice on whether probate is required, based on the size and complexity of the estate.
We accurately assess the value of the deceased's estate, including property, investments, and other assets.
We prepare and file inheritance tax returns and assist with the necessary probate application forms.
We ensure that statutory notices are placed, protecting executors from potential claims against the estate from unknown creditors.
We take care of all financial aspects, including paying off debts, managing legacies, and calculating and settling estate taxes.
We oversee the smooth transfer of funds and assets to the rightful beneficiaries once probate is complete.
Time Frame
We will provide an initial estimate of how long the engagement is expected to take and the cost. The time and costs to complete an engagement can vary depending on the complexity of the estate and the will. Factors affecting the time and cost include delays in obtaining information from financial institutions, such as banks and insurance companies. As a general guide, we estimate of 9 to 12 months for completing the engagement, providing there are no difficulties or delays.
Fee Estimates:
Fee estimate – Partial probate service (Application for probate and completion of IHT forms and submission only)
This will be a fixed fee of £750 provided all information is provided to us without further queries.
There may be other expenses we incur directly or indirectly called disbursements such as the cost of the probate application.
Interim bills for work carried out will be provided on a periodic basis.
VAT will not be charged on Alun Evans’ fee.
Fee estimate – Complete probate service – simple/straightforward estate with for example a residential property and savings/bank accounts
This will be a fixed fee of £1,250 provided all information is provided to us without further queries.
There may be other expenses we incur directly or indirectly called disbursements such as valuation fees, Court fees and the cost of the probate application. In addition, there will be costs of transferring property, if applicable.
Interim bills for work carried out will be provided on a periodic basis.
VAT will not be charged on Alun Evans’ fee.
Fee estimate – Complete probate service – complex estates with for example business interests or substantial property holdings.
Our fees are based on the gross value of the estate before deducting mortgages and liabilities, as follows:
* 100% of the first £5,000
* 0.2% of the balance
There may be other expenses we incur directly or indirectly called disbursements such as valuation fees or Court fees. In addition, there will be costs of transferring property, if applicable.
Interim bills for work carried out will be provided on a periodic basis.
VAT will not be charged on Alun Evans’ fee.
Complaints
We are committed to providing you with a high-quality service that is both efficient and effective. However, should there be any cause for complaint in relation to any aspect of our service please write to Alun Evans. We agree to investigate any complaint carefully and promptly and do everything reasonable to put it right. If the matter cannot be resolved it will be referred to a partner independent of your assignment. If you are still not satisfied you can refer your complaint to our professional body, the Institute of Chartered Accountants in England and Wales, Chartered Accountants Hall, Moorgate Place, London, EC2R 6EA. How to make a complaint | ICAEW
We will carefully consider any complaint you may make about our probate or estate administration work as soon as we receive it and do all we can to resolve it. We will acknowledge your letter within five business days of its receipt and endeavour to deal with it within eight weeks. If we do not deal with your complaint in this time, or if you are unhappy with our response, you may of course take up the matter with the Legal Ombudsman.
The Legal Ombudsman’s ability to deal with your complaint is dependent on the following factors;
A) You must refer the complaint to the Legal Ombudsman no later than:
one year from the act/omission that forms the basis of your complaint; or
one year from when you should reasonably have known there was cause for complaint; and
B) Make the referral to the Legal Ombudsman within six months of the date of our final written response to you.
Contact details for the Legal Ombudsman
T: 0300 555 0333
E: enquiries@legalombudsman.org.uk
A: Legal Ombudsman, PO Box 6806, Wolverhampton WV1 9WJ
ICAEW probate compensation scheme
In the unlikely event that we cannot meet our liabilities to you, you may be able to seek a grant from ICAEW’s Probate Compensation Scheme. Generally, applications for a grant must be made to ICAEW within 12 months of the time you became aware, or reasonably ought to have become aware, of the loss.
Further information about the scheme and the circumstances in which grants may be made is available on ICAEW’s website: Probate Compensation Scheme arrangements | ICAEW
