Wills and Probate

Wills

A will sets out in a legally binding document stating what will happen to money, property and possessions after death. It can include funeral wishes and can also be used to minimise Inheritance Tax. A properly drafted will can be difficult to overturn, and therefore it is important that it is thoroughly and carefully drafted.

Fixed Fee and Costs

Single Wills

Package 1

A Standard Will - £80.00 + vat - £96 in total

Package 2

A Standard Will with multiple specific gifts, legacies - £120.00 + vat - £144 in total

Package 3

A Complex Will which includes drafting provisions for a Trust eg. Life Interest Property Trust

£170.00 + vat - £204 in total

Package 4

A Complex Will which involves drafting discretionary trusts and trusts for disabled beneficiaries

£250 + vat - £300

Mirror Wills

Package 5

A Standard Mirror Will - £150.00 + vat - £180 in total

Package 6

A Standard Mirror Will with multiple specific gifts, legacies

£180.00 + vat - £216 in total

Package 7

A Complex Mirror Will with includes drafting provisions for a Trust eg. Life Interest Property Trust

£250.00 + vat - £300 in total

Package 8

A Complex Will which involves drafting discretionary trusts and trusts for disabled beneficiaries

£300 + vat - £360 in total

Included:

Attending and advising you with regards to the preparation of your Will.
Attending you with regards to the execution of the same.
Sending correspondence to you confirming your instructions and advising you that the Will is ready for execution.

Not Included:

Any expenses or disbursements e.g. fees payable to interpreters.
Any unforeseen circumstances which would result in additional work e.g. lengthy correspondence or complex issues, we will advise you should this arise.

Probate matters

Probate is a term used to describe collecting and distributing a deceased’s estate after death. Probate technically refers to the document which gives the executors of a will the legal power to collect in (obtain from the relevant financial institutions) the estate. There is a similar process called “letters of administration” which is used when a person dies without a will although the process is very similar.

Probate Charges

General Advice meeting - £120 plus VAT (£144 in total)

Up to an hours’ worth of advice in relation to probate matters

Standard Grant of Probate Application - £495 plus VAT (£594 in total) plus court fee of £273 (£3 per extra copy)

Providing advice on the matter and obtaining Grant of Probate

Administration of Estate – minimum £1,000 plus VAT

Wherever possible we will try to calculate a fixed fee but in cases where this is not possible then it will be calculated on a ‘time spent’ basis at £150 plus VAT per hour (£180ph in total). Usually the costs equate to around 2%-3% of the total gross value of the estate.

Approximate Estimates & Rough Guidance

These figures are meant only as a guideline. The type of situations that can cause estimates to increase are if there are trusts involved or if there are multiple assets and/or bequests or if there are claims on the estate by individuals or the government in relation to more benefits being paid to the deceased during their life-time or if this firm is the Executor.

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. Not all disbursements will be necessary as each matter is different.

Additional disbursements maybe payable such as:

Probate court fee of £273.
Swearing of the oath (per executor). Approx £10
Bankruptcy-only Land Charges Department searches (£1-£2 per beneficiary).
Post in The London Gazette – Protects against unexpected claims from unknown creditors - £105
Post in a Local Newspaper – This also helps to protect against unexpected claims – Approx £100

Lasting powers of Attorney

A lasting power of attorney (LPA) is a legal document that appoints a person to help you make decisions or make decisions on your behalf.

You must be 18 or over and have mental capacity – the ability to make your own decisions – when the make LPA is made.

There are 2 types of LPA:

Health and welfare
Property and financial affairs

It will govern what the attorney can do, and how they will deal with matters if the person loses capacity to deal with all their own affairs.

Costs

£395 plus VAT = £474 (health OR finances)
£645 plus VAT = £774 (both)

There is also a Court fee - £82 (a Fee Remission form can be filled in) – if there are two LPAs the fee would be £164.

Home visits –if a client requires a home visit this will be charged at an additional £100 plus VAT = £120.00 per visit.

Our Private Client team based at our Middleton office has many years of collective experience providing excellent advice relating to wills and estate administration. We are able to see clients at any of our 4 offices in Greater Manchester or we can make a home visit if preferred.