Wills & Probate
Why make a will?
- To make sure that your assets go to the person you want
- To help your family know what arrangements you want for your funeral
- To make specific gifts of money or items of sentimental value e.g. a cherished toy for a grandchild, or a gift of money for a nephew or niece
- To ensure that your estate is administered by people who you know and trust
- To ensure that you direct your assets in a tax efficient way
Leaving a will creates certainty for those you leave behind. We at Gittins McDonald always ensure that your will is right for you.
When will I need to take out probate?
- Not all deaths require probate to be taken out
- If there is property which will need to be sold then you will need probate
- Some Banks and Building Societies will release small sums without probate, larger balances may require probate
- If there is no will - you may need advice on who can and how to apply for probate
- You may wish to contest the will or make a claim against the estate
- You may need to complete Tax Forms - we can help with that
We can help you through this difficult process by obtaining the Grant of Probate on your behalf. We will also undertake the collecting and distributing of assets.
We anticipate this will take between 2 and 3.5X hours work. Total costs estimated at £500 plus disbursements and 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 5 bank or building society accounts
- There are no other intangible assets
- There are no more than 5 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
- Probate application fee of £155.00
- £7.00 Swearing of the oath (per executor)
- Bankruptcy-only Land Charges Department searches (£2.00 per beneficiary)
- Post in The London Gazette - Protects against unexpected claims from unknown creditors. - see https://www.thegazette.co.uk/place-notice/pricing
- Approximately £150 Post in a Local Newspaper - 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 £5 (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 months. Typically, obtaining the grant of probate takes 6-8 weeks. Collecting assets then follows, which can take between 4-6 weeks. Once this has been done, we can distribute the assets, which normally takes 2-4 weeks.
Interested in our Wills
& Probate services?
Contact us and ask for Bharti Gittins or Anna Evans to get a quote or to just talk through what we can do for you.