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Cost Transparency<\/u><\/strong>\u00a0<\/span><\/p>\n We are accredited with the Wills and Inheritance Quality Scheme (WIQS) by the Law Society which is the recognised quality mark for legal experts in drafting Wills and administering Estates. We follow best practice procedures and meet the highest standards of technical expertise and client service. \u00a0All fee earners are required to undertake yearly examinations with a pass-mark of 87%. We are one of no more than 200 law firms nationwide with this accreditation.<\/p>\n We offer a bespoke, tailored and individualised service for estate administration as no one estate is the same as another.<\/p>\n We can deal with the most straightforward estates to the most complex administrations including contentious matters. \u00a0As a result of our technical expertise we are referred matters from other local solicitors including contentious matters, foreign assets, foreign domicile and technical issues requiring skilled, innovative and pragmatic solutions.<\/p>\n It is usual for this firm\u2019s fees to be deducted from estate monies once in funds, provided the estate has sufficient liquid assets.\u00a0 However, monies will be required to be provided up front for disbursements required before the Grant of Representation is issued.<\/p>\n Where we are instructed to deal with the whole of the administration of a straightforward estate, it is not unusual for the Estate to be finalised within 12 months from the date of instructions.<\/p>\n <\/u><\/strong><\/p>\n Qualifications<\/u><\/strong>,<\/u><\/strong> Experience<\/u><\/strong> and Hourly Rates<\/u><\/strong><\/p>\n Our dedicated Private Client Department (Estate Administration Team) consists of the following fee earners:-<\/span><\/p>\n In addition the department has three Support Assistants. Overall we have over 50 years of estate administration fee earning experience in contentious and non-contentious matters.<\/p>\n We deal with a wide ranging case load of administrations.<\/p>\n Where matters are so complex and additional expertise in other areas of law are required, we are able to call upon the other departments of this firm for guidance and assistance as well as the support of two top tiered Barristers\u2019 Chambers in this area of Law.<\/p>\n Fixed Fee Service<\/u><\/strong><\/p>\n Where clients wish to deal with the administration of the estate and only require our involvement to obtain the Grant of Representation on a straightforward estate, we are able to offer a fixed fee service.<\/p>\n Our fees to obtain a Grant of Representation only are \u00a31,500.00 plus VAT at 20% of \u00a3300.00<\/span>, totalling \u00a31,800.00.\u00a0 The above fee is based on the straightforward estate assumptions set out below.\u00a0 However, our quote is on the basis you have already obtained and will provide all information necessary for us to complete the application for the Grant of Representation.<\/p>\n As part of the fixed fee we will:-<\/p>\n –\u00a0\u00a0\u00a0 Appoint a dedicated fee earner to handle your case<\/p>\n –\u00a0\u00a0\u00a0 Have an initial consultation meeting with you face to face or by telephone<\/p>\n –\u00a0\u00a0\u00a0 Identify the legally appointed Executor\/Administrator of the estate<\/p>\n –\u00a0\u00a0\u00a0 Identify issues of concern regarding the administration you will need to be aware of<\/p>\n –\u00a0\u00a0\u00a0 Prepare financial statements based on the information you have provided for your approval<\/p>\n –\u00a0\u00a0\u00a0 Submit the application to the Probate Registry<\/p>\n –\u00a0\u00a0\u00a0 Forward the Grant of Representation to you<\/p>\n The disbursements which are likely to be payable to third parties for this service are marked with \u201c*\u201d under the section on disbursements.<\/p>\n Upon receipt of all the required information from you it will take approximately two weeks for us to prepare the financial statements for you to approve. \u00a0Upon receipt of your approval it will take approximately a further two weeks for us to prepare the application for the Grant of Representation. \u00a0Upon submission of the application it will take the Probate Registry up to sixteen weeks to issue the Grant of Representation which we will subsequently forward to you upon receipt.<\/p>\n This firm\u2019s fees will need to be settled before the Grant of Representation is released to you and monies on account will need to be provided to cover disbursements.<\/p>\n <\/p>\n Estate Administration Service<\/u><\/strong>\u00a0<\/u><\/strong><\/p>\n In situations where we are instructed to deal with the administration of a straightforward estate in its entirety we charge an hourly rate currently not exceeding \u00a3325.00 plus VAT at 20% of \u00a365.00 totalling \u00a3390.00, depending on the fee earner dealing with your matter.<\/p>\n Our total fees for a straightforward estate administration range between \u00a31,500.00 and \u00a35,000.00 plus VAT at 20% of between \u00a3300.00 to \u00a31,000.00 therefore totalling \u00a31,800.00 to \u00a36,000.00. These figures are illustrative only.<\/p>\n We will handle the full estate administration process for you which includes settling the funeral costs from estate monies, contacting the relevant institutions to obtain required information, liaising with the Beneficiaries, realising the estate assets, settling any liabilities, preparing administration accounts for approval by the Residuary Beneficiaries, distributing the estate, calculating the interest received during the administration, and settling any income tax issues during the administration on an informal basis.<\/p>\n Our Estate Administration Service will apply where Estates come within the following:<\/p>\n –\u00a0\u00a0 The deceased was domiciled in England and Wales and they owned no assets outside the jurisdiction.<\/p>\n –\u00a0\u00a0 There are no complex background circumstances (such as previous marriages, divorces etc).<\/p>\n –\u00a0\u00a0 There is a valid Will in which we are not the Executors, nor do you wish for us to act as Administrators, and there are no construction and\/or\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0interpretation issues with regard to the Will.<\/p>\n –\u00a0\u00a0 There is no contention as to the validity of the Will.<\/p>\n –\u00a0\u00a0 There is no Will and the Rules of Intestacy apply to the estate where the deceased died recently (within the last 3 months) and where the\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 estate is less than \u00a3322,000.00 and the deceased is survived by a spouse, or where there is no spouse, the deceased is survived by immediate\u00a0 \u00a0 \u00a0 family who are easily identifiable without the involvement of Statutory Trusts<\/p>\n –\u00a0\u00a0 The estate is solvent.<\/p>\n –\u00a0\u00a0 The value of the gross estate is below \u00a3325,000.00<\/p>\n –\u00a0\u00a0 There is only one property which is solely owned by the deceased or co-owned as joint tenants with their spouse and there is no issue\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0regarding the ownership.<\/p>\n –\u00a0\u00a0 The outgoings on the property, including building insurance inspections, are dealt with or undertaken by the client or others.<\/p>\n –\u00a0\u00a0 There are no more than five bank and building society accounts.<\/p>\n –\u00a0\u00a0 There are no Trusts including lump sum death benefits under pensions, life assurance policies and death in service benefits.<\/p>\n –\u00a0\u00a0 There are no guaranteed purchased life annuities and the deceased made no changes to their pension arrangements within 14 years of death.<\/p>\n –\u00a0\u00a0 There are no intangible assets.<\/p>\n –\u00a0\u00a0 All chattels\/personal effects are dealt with by the client or other party without our involvement.<\/p>\n –\u00a0\u00a0 There are no lifetime gifts made by the deceased, including potentially exempt transfers (PETs) and\/or lifetime chargeable transfers (LCTs).<\/p>\n –\u00a0\u00a0 There are no outstanding tax issues to be resolved during the deceased\u2019s lifetime and the deceased was not self-employed.<\/p>\n –\u00a0\u00a0 There are no more than three legacies and three Residuary Beneficiaries of the estate, all of whom are individuals identified, and are located\u00a0 \u00a0 \u00a0 \u00a0 \u00a0in England and Wales.<\/p>\n –\u00a0\u00a0 There are sufficient assets\/monies to settle the legacies and none of the legacies adeem or lapse.<\/p>\n –\u00a0\u00a0 You do not require any protections available to you as an Executor\/Administrator during the administration and before the estate\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0is distributed.<\/p>\n –\u00a0\u00a0 There are no business or agricultural assets.<\/p>\n –\u00a0\u00a0 There are no candidates to bring a claim under the Inheritance (Provisions for Family and Independents) Act 1975.<\/p>\n –\u00a0\u00a0 There are no disputes between the Beneficiaries.<\/p>\n –\u00a0\u00a0 The estate does not need to be registered as a complex estate with HM Revenue & Customs and no Trusts and Estates Tax Return is\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0required to be completed.<\/p>\n Please be aware the above list is not exhaustive and our indicative fees do not include the transfer, purchase by Beneficiaries, or sale of a deceased\u2019s property.<\/p>\n In addition to this firm\u2019s fees there will be disbursements which are dependent upon the assets which comprise the estate and the protections required by an Executor \/ Administrator and these are set out under the section \u201cDisbursements\u201d.<\/p>\n <\/p>\n Complex Estate Administration<\/u><\/strong><\/p>\n As a result of our technical expertise we deal with the Administration of a large number of complex and contentious Estates.<\/p>\n Estates become complex where they feature any of the issues which do not allow us to offer our Estate Administration Service (See list under \u201cEstate Administration Service\u201d)<\/em>.<\/p>\n Please be aware the list under \u201cEstate Administration Service\u201d is not exhaustive.<\/p>\n In complex Estates we charge an hourly rate currently not exceeding \u00a3325.00 plus VAT at 20% of \u00a365.00 totalling \u00a3390.00, dependent on the Fee Earner dealing with your matter.<\/p>\n In addition to the time spent on complex Estates, we may charge up to 0.5% plus VAT at 20% of the value of the Gross Estate after taking into account the complexity of the Estate and where we consider the increase in fees to be fair and reasonable.<\/p>\n Unfortunately we are unable to provide an indication of costs regarding such matters but will provide an indication of cost once we are fully informed of the circumstances of your case.<\/p>\n In addition to this firm\u2019s fees there will be disbursements which are dependent upon the assets which comprise the estate and the protections required by an Executor \/ Administrator and these are set out under the section \u201cDisbursements\u201d.<\/p>\n <\/p>\n Miscellaneous Estates<\/u><\/strong><\/p>\n We are also requested by clients to advise on specific technical issues which can arise during an Administration and where a client does not wish for us to deal with the Administration as a whole.<\/p>\n Unfortunately we are unable to provide an indication of costs regarding such matters but will provide an indication of costs once we are fully informed of the circumstances of your case. In such situations, we are able to work to an agreed set budget tailored to your needs.<\/p>\n When the Partners of this firm are appointed as Executors, or your wish to appoint the Partners of this firm to act as your Attorneys in the Administration of an Estate, we may charge up to 1% plus VAT at 20% of the gross value of the Estate after taking into account the complexity of the Estate and additional responsibilities and liabilities which they will have as Administrators and where we consider the increase to be fair and reasonable.<\/p>\n Disbursements<\/u><\/strong><\/p>\n The likely disbursements to be incurred could be as follows:<\/p>\n \u2013 Probate Court fee \u2013 \u00a3307.50 (inclusive of five Court Sealed copies) * The above figures are illustrative only and the actual costs for disbursements may vary.<\/p>\n Disbursements are costs related to your matter that are payable to third parties. \u00a0We handle the payment of disbursements on your behalf and those monies are usually payable from estate monies to ensure a smoother process.<\/p>\n <\/u><\/strong><\/p>\n What to do Next<\/u><\/strong><\/p>\n Please telephone or email us to discuss your matter generally and to arrange an appointment to attend upon this office or by way of telephone conference.<\/p>\n At that appointment\/conference please bring with you or provide the following:-<\/p>\n –\u00a0\u00a0\u00a0 Original Death Certificate<\/p>\n –\u00a0\u00a0\u00a0 Original Will (if applicable)<\/p>\n –\u00a0\u00a0\u00a0 Your photo identification and two proofs of address (no older than three months)<\/p>\n –\u00a0\u00a0\u00a0 All information regarding the estate assets, liabilities, income and outgoings<\/p>\n <\/p>\n The cost for this consultation\/conference amounts to \u00a3250.00 plus VAT at 20% of \u00a350 totalling \u00a3300.00 on the basis it does not exceed 1 hour.<\/p>\n In the event you instruct us then the consultation\/conference fee will be wrapped up into the fees for the work to be carried out by us.<\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" Cost Transparency\u00a0 We are accredited with the Wills and Inheritance Quality Scheme (WIQS) by the Law Society which is the recognised quality mark for legal experts in drafting Wills and administering Estates. We follow best practice procedures and meet the highest standards of technical expertise and client service. \u00a0All fee earners are required to undertake […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":1361,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-2032","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.edclord.co.uk\/index.php\/wp-json\/wp\/v2\/pages\/2032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.edclord.co.uk\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.edclord.co.uk\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.edclord.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.edclord.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=2032"}],"version-history":[{"count":21,"href":"https:\/\/www.edclord.co.uk\/index.php\/wp-json\/wp\/v2\/pages\/2032\/revisions"}],"predecessor-version":[{"id":2604,"href":"https:\/\/www.edclord.co.uk\/index.php\/wp-json\/wp\/v2\/pages\/2032\/revisions\/2604"}],"up":[{"embeddable":true,"href":"https:\/\/www.edclord.co.uk\/index.php\/wp-json\/wp\/v2\/pages\/1361"}],"wp:attachment":[{"href":"https:\/\/www.edclord.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=2032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
\u2013 Property valuation \u2013 Desktop \u2013 \u00a3150.00 plus VAT at 20% of \u00a330.00 totalling \u00a3180.00
\u2013 Bespoke Property Valuation \u2013 Chartered Surveyor to be confirmed, if required
\u2013 Stockbrokers\u2019 valuation and verification fee for public shareholdings \u2013 \u00a320.00 per holding
\u2013 Stockbrokers\u2019 disposal\/transfer charges \u2013 to be confirmed
\u2013 Certainty Will Search \u2013 \u00a3127.00
\u2013 Land Registry Office Copy Entries \u2013 \u00a37.00 plus VAT at 20% of \u00a31.40 totalling \u00a38.40 per Title *
\u2013 Land Registry Registrations fees \u2013 to be confirmed
\u2013 Simple Asset Search \u2013 \u00a325.00
\u2013 Comprehensive Asset Search to be confirmed
\u2013 Asset Search (foreign) to be confirmed
\u2013 Statutory Advertisements \u2013 \u00a3280.00 to \u00a3600.00
\u2013 Bankruptcy Searches \u2013 up to \u00a36.00 per Beneficiary having three names
\u2013 Counsel\u2019s fees \u2013 to be confirmed, if required
\u2013 Caveat \u2013 \u00a31.50
\u2013 Probate Search \u2013 \u00a31.50
\u2013 Standing Search \u2013 \u00a33.00
\u2013 Birth, Deaths Registry Office Searches \u2013 circa \u00a320.00 per certificate
\u2013 Accountants\u2019 fees \u2013 circa \u00a3600.00 for a simple Trust and Estate Tax Return
\u2013 Independent Financial Adviser \u2013 to be confirmed
\u2013 Building Insurance \u2013 to be confirmed
\u2013 Genealogist Research \u2013 to be confirmed<\/p>\n