Probate & Estate Administration Services
Losing a loved one is a distressing time which is not helped by the vast amount of paperwork required to deal with the financial affairs of the recently deceased. We can relieve you of some or all of this burden.
It takes a lot of time and energy to deal with banks, solicitors and HM Revenue and Customs, just when you need that time to come to terms with your loss and provide support to the rest of the family. We know this because we have first-hand experience of it.
We can deal with some or all aspects of the estate administration process, providing the Will is not being contested. Furthermore, unlike so many in the industry, our fees are not linked to the size of the estate we are administering – they purely relate to the amount of work involved. We also put a cap on our fees to give you extra comfort.
We will look to administer the estate as quickly as possible as, much like yourself, we do not wish for it to needlessly drag on for months or even years!
At Finch Tax, our fixed price estate administration service includes the following;
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Review the Will, codicils and legacies to ensure that they are valid and prepare affidavits where necessary
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Ascertain who the beneficiaries are
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Identify the composition of the estate and ascertain whether a grant is needed
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Value the estate
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Prepare any inheritance tax return
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Prepare the papers for application for a grant of probate (service provided by Finch Probate Ltd)
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Obtain the grant (service provided by Finch Probate Ltd)
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Collect and gather the assets of the estate
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Distribute any legacies or advise on their timing
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Advise on the amounts due to the residuary beneficiaries
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Finalise the estate tax
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Prepare estate accounts
Pricing
Our fees will vary on a case-by-case basis depending on the type of probate and administration work you require and the complexity of the estate. Before commencing any work, we will discuss your requirements and provide a more accurate estimate based on the likely work involved.
The table below provides an overview of our fee structure for the different types of probate and estate administration activities we can carry out for you. The quoted fees are based on a fixed price and are for guidance only. If, once we commence the work, the estate is more complex than we have quoted for, we will inform you of any likely increase in costs as soon as possible.
We have provided an estimate of fees and likely timescales for the different probate and estate administration services. A more accurate quote can be provided once we know more about the estate and what work will be involved.
Additional Services
Where additional services are required such as:
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Post death tax planning;
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Variations of the estate; or
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Personal tax returns to date of death
an additional fee will be charged. Where additional services are required a quote will be provided up front. Please note additional fees will be based on an hourly rate of £175 + VAT (20%) = £210.
Disbursements/Expenses
In addition to the above fees, other costs may be incurred from third parties as part of the probate and estate administration process. These disbursement costs include:
The prices quoted for the above disbursement costs are correct at the time of publishing.
Value Added Tax (VAT)
Where fees and disbursements have been quoted to include VAT, the rate of VAT is 20%.
General notes relating to our fees and timescales
Our estate administration and probate work is undertaken by our Director, Rhoda Cooper who is authorised as a CILEX practitioner (ACCA Probate) to do this work. We will be able to provide you with a more accurate fee estimate once we have sufficient information about the estate.
We will advise you of the likely timescale to complete the Grant application and Estate Administration at the outset. Any timescale given will depend to a large extent on processing times from HMRC and the Probate Court, which can vary considerably.
We will keep you up to date with regard to timescales and our fees and will provide a full explanation if either needs to be revised.
Finch Probate Limited
The probate application will be dealt with our sister company Finch Probate Limited which is authorised and regulated as a CILEX-ACCA Probate Entity (authorisation number 3001255).
Finch Tax & Accountancy Services Limited will carry out the estate administration work.
Professional Indemnity Insurance
Finch Probate Limited as an authorised probate firm, is required to have professional indemnity insurance cover for its non-contentious probate and related work. This cover is currently provided by Hiscox Insurance a copy of the policy is available to view at our office.
To see how we helped one of our clients with probate, you can read our Probate Case Study.
