Probate Help: Full Estate Administration Service.
If you just want everything done for you (the cost comes out of the deceased assets in the end), or at least, most of it, then you need a flexible full estate administration service, not the (probably) lower-cost options. You can also use a bespoke service if your needs don’t fit into one of the standard packages. Our function is to match your requirements and the complexity of the estate with a suitable adviser charging sensible fees. Our function is to look at the service levels and fees charged by probate solicitors and other professionals and to recommend a suitable service to you.
Many people fail to understand and compare probate quotes, and they are shocked when the final bill is (maybe) 3 times higher than they had expected. Here are some of the tricks of the trade, starting with the most expensive:
- The Responsibility Allowance – solicitors are allowed to charge as much as 1.8% of the value of the estate as a “responsibility allowance.” This is on top of any other charges they might make, so on a £500,000 estate that would be £9.000 for absolutely nothing. Double that on a million pound estate and for a more normal £250,000 estate an extra £4,500.
- Fees are charged on the Gross estate – so one with nothing but a property worth £500,000 and a £250,000, percentage fees would be based on £750,000.
- Many firms charge for both the time and the action – so someone producing 1o automated letters in half an hour might charge £125 for the time and ten times £45 for the letters – total of £575 Plus VAT for 30 minutes work and 10 first-class stamps.
Just avoiding those three issues can save a fortune in comparing probate quotes. But not only that, we don’t send work to firms who do not provide a very high level of service. To be fair, the hold-ups in the probate process are not always due to the probate professionals involved, but careful monitoring of client feedback is a vital part of what we do.
To find out more about the estate administration service, please use the contact form to the right or give us a ring. Full estate administration includes confirming the value of assets and liabilities, organising the grant of probate or letters of administration, identifying the beneficiaries, collecting in the assets, then paying the bills and any tax due. Finally (sorry!) the beneficiaries are paid.
If arguments start, the case then becomes “contentious probate” and we will have to advise you to get specialist solicitors involved – but we know ones who charge sensible fees. Probate arguments are becoming more common, but it is comforting to work with professionals who will do everything they can to avoid resorting to incredibly expensive Court work. If it is necessary, it is very much a question of finding serious expertise at sensible costs: we can still help.
Our lowest cost associates full estate administration service will normally offer a saving of £150 an hour or perhaps much more. And no sneaky extras, just fair and reasonable expenses they have to pay out on your behalf.
If you would prefer a flat fee for the estate administration, subject to no unpleasant surprises, we can arrange that too via associates at a rate of 1.25% of the gross value of the estate plus VAT and third-party costs. When you compare probate quotes, remember to ask very carefully about the extras above.