SPECIALISTS IN Residential & Commercial Property | Private Client Services | Family | Litigation | Mediation
Lock and Marlborough
Solicitors and Mediators

Stock Photo - not for use

For Wills and Probate please contact;





Wills and Probate

Research has shown that one third of the population has not made a Will.  Most people assume that all their possessions pass automatically on their death to their Spouse, Partner or members of the family.  This is not necessarily the case.

 

Having a Will drawn up is the best way to ensure that your wishes and the arrangements that you wish to make for your Estate are carried out after your death.  A Will also protects your loved ones and family and reduces the financial worry for them during what is already a traumatic and emotional time.

 

If there is no Will the Estate will pass under the Intestacy Rules and if the person who has died has an estate valued at more than £250,000, the spouse or civil partner will inherit all of their personal belongings and the first £250,000 of the Estate, and then half of the remaining estate with what is left being divided between any children. This rule does not apply to long term or 'Common Law' Partners.  By planning ahead and making a Will during your lifetime means that you can ensure that your Estate is distributed properly.  Our experienced team can advise you on the best way to preserve family's assets and wealth.  Our Private Client team can also provide advice on the best way to minimise Inheritance tax liability and also preserve your family's wealth.  We are also experienced in advising clients in challenging an Estate.

 

We are fully accredited and also a member of the Law Society's Will and Inheritance Quality Scheme (WIQS) providing a best practise quality standard for Wills and Estate Administration advice.

 

Our specialist multi-lingual team can assist you with:

 -Preparing a Will;

 -Creating Trusts;

 -Probate and Administration services;

 -Tax and Estate Planning;

 -General & Lasting Powers of Attorney;

 -Court of Protection;

 -Contentious Probate;

 -Inheritance Act Applications.

 

Fees for Wills

 

The fees set out below are a general guide. We can offer a more personalised quote if you telephone us and provide details of your circumstances.

 

The fee for a single will starts from £300 inclusive of VAT and for mirror wills starts from £480 inclusive of VAT.

 

Probate fees

 

The fees set out below are a general guide and cover; applying for the grant, collecting and distributing the assets.

We can offer a more personalised quote if you telephone us and provide details of your circumstances. We can also discuss a fee based on the value of the estate.

The hourly rate charged varies from £215 + VAT to £310 +VAT per hour dependent upon the fee earner involved. Total costs estimated at £2000 + VAT to £20,000 + VAT.

The exact cost will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property, costs will be at the lower end of the range. If there are multiple beneficiaries, a property and multiple bank accounts, costs will be at the higher end.

We will handle the full process for you. This quote is for estates where:

-There is a valid will

-There is no more than one property

-There are no more than 6 bank or building society accounts

-There are no other intangible assets e.g. shares

-There are 1-4 beneficiaries

-There are no disputes between beneficiaries on division of assets. If disputes arise this is likely to lead to an increase in costs

-There is no inheritance tax payable and the executors do not need to submit a full account to HMRC

-There are no claims made against the estate

 

Disbursements in addition to the fee:

-Probate application fee of £155. This is expected to increase in the near future.

-Bankruptcy-only Land Charges Department searches (£2 per beneficiary)

-£78.18 - Post in The London Gazette – Protects against unexpected claims from unknown creditors.

-Post in a Local Newspaper, cost varies – This also helps to protect against unexpected claims.

Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

 

Potential additional costs

-If there is no will or the estate consists of any share holdings (stocks and bonds) there is likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with. We can give you a more accurate quote once we have more information.

-If any additional copies of the grant are required, they will cost 50p per copy (1 per asset usually).

-Dealing with the sale or transfer of any property in the estate is not included.

 

How long will this take?

On average, estates that fall within this range are dealt with within 6-12 months. Typically, obtaining the grant of probate takes 2-4 weeks. Collecting assets then follows, which can take between 2-8 weeks. Once this has been done, we can distribute the assets; this normally takes 1-2 weeks.