WHAT WE DO
Wills & Probate
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Hall Reynolds LLP has many years of experience in dealing with all aspects of private client work including: Will Writing, Estate Planning,
Obtaining Grants of Probate and Administering Estates.
Leaving a Will simplifies matters for those you care about. It can save them money and ensures that the money you leave behind
benefits those that you have chosen. Losing someone, whether it is a friend or a relative, is always difficult.
Making a Will can ease the difficulty at least in dealing with practical things.
Enacting the Will and obtaining Probate should be as straightforward as possible.
It should be carried out as quickly as possible so that the fund are available for those who need them without delay.
Let us help you to be prepared and through the difficult times as quickly as possible.
The team at Hall Reynolds LLP will help guide you through the process, offering advice on matters you
need to consider and ensuring that your wishes are achieved.
Our services include:
| Advising on Inheritance Tax | Reviewing Current Wills | Obtaining Grants of Probate |
| Preparation of Wills and Codicils | Advice on protecting your assets | Dealing with Inheritance Tax |
| Deeds of Family Arrangements | Administration of Estates | Intestate Estates |
WE ARE EXPERTS
Accreditations & Awards
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COST
Our Fees & Estimates
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There are various ways in which the team at Hal Reynolds LLP can help you after the death of a loved one.
Detailed below is an indication of the costs that may be incurred:
Fixed Fee Consultation
If you are considering handling the administration of an estate but would like or need some guidance we would be happy to help. We will provide you with confirmation of the cost ahead of your appointment and can then agree on costs for further work if required.
Such fees will be charged on an hourly basis between £175 (+£35 VAT) and £230 (+ £46 VAT) per hour.
The exact cost will depend on the individual circumstances of the matter and the nature of your enquiry.
Applying for the Grant of Probate
We can agree to obtain the Grant on behalf of the estate leaving the Executors to distribute the estate themselves.
A fixed fee can be agreed after an initial, free 30 minute consultation to ascertain the complexity of the estate.
How much does this service cost?
Legal Fees for an estate on which Inheritance Tax is not payable will be between £1300 (+ £260 VAT) and £2,000 (+ £400 VAT) plus any required disbursements as detailed below.
The exact cost will depend on the individual circumstances of the matter.
For example, if there is one beneficiary and no property the cost 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.
This estimate is for estates where:
| There is a valid Will | There are no more than 5 bank or building society accounts | There are no intangible assets |
| There are 1-6 beneficiaries | There are no disputes between beneficiaries on the division of assets and there are no claims made against the estate | There is no inheritance tax payable and the executors do not need to submit an account to HMRC |
There may also be additional charges (disbursements) not included in this fee. (These are all costs which relate to the matter that are payable to third parties and if required added to the fixed fee)
| Probate application fee (from £272 no vat payable) | HM Land Registry official copies of title and plan fees (from £6 per property no vat payable) | Identification verification administration fee (£30 + £6 vat per executor) |
| Bankruptcy searches (£2 per person no vat payable) | London Gazette Entry (£65.15 + £13.18 vat) | Bank transfer fee (£16 + £3.20 vat) |
Obtain the Grant and Administering the Estate
When we are instructed on behalf of the Estate we will provide a costs estimate at the outset and keep you updated throughout. We will obtain the Grant of Probate and also undertake the collecting and distributing of assets.
How much does this service cost?
Legal Fees for an estate on which an IHT 205 and/or an RNRB claim needs to be completed will be between £2,500 (+ £500 VAT) and £5,000 (+£1000 VAT) plus any required disbursements as detailed below. Please note the legal fees are dependent on the complexity of the estate and the number of assets.
Legal Fees for an estate on which an IHT 400 needs to be completed and Inheritance Tax is payable will be between £7000 (+£1400 VAT) and £10,000 (+ £2000 VAT) plus any required disbursements as detailed below. Again the fees will be dependent on the complexity of the estate and the number of assets.
There may also be additional charges (disbursements) not included in this fee: (These are all costs which relate to the matter that are payable to 3rd parties and if required added to the fees)
| Probate application fee (from £272 no vat payable) | HM Land Registry official copies of title and plan fees (from £6 per property no vat payable) | Identification verification administration fee (£30 + £6 vat per executor) |
| Bankruptcy searches (£2 per person no vat payable) | London Gazette Entry (£65.15 + £13.18 vat) | Bank transfer fee (£16 + £3.20 vat) |
Again, the exact cost will depend on the individual circumstances of the matter.
As part of our fixed fee we will:
| Identify the legally appointed executors and beneficiaries | Identify the required type of Probate application | Obtain the relevant documents required to make the application |
| Complete the Probate application | Prepare the legal statement for you to sign | Make the application to the Probate Registry |
| Obtain the Probate and securely send the copies to you | Collect all assets | Complete relevant HMRC forms |
| Prepare Estate and Distribution Accounts | Ensure all liabilities are settled on behalf of the deceased. | Distribute all legacies to beneficiaries |
How long does obtaining Probate take?
Typically, obtaining the Grant of Probate takes 10-24 weeks depending on the Estate. Collecting assets then follows which can take between 2-6 weeks. Once this has been done, assets can then be distributed.
Unfortunately, we like all law firms are continuing to experience long delays with applications for Grants of Probate. In our experience applications are continuing to take at least eight to twelve weeks to be processed.
The probate registries have explained that these long delays have been caused by a combination of the large volumes of applications submitted ahead of the planned increases to the probate fees, a new online probate application process (which has come with various IT glitches), and finally, insufficient resources at the probate registries to deal with the backlogs.
HMCTS have advised that applications are being dealt with in date order. They will not expedite applications considered by applicants to be “urgent” (e.g. if there is a property sale pending that is dependent on the grant). HMCTS have further advised that is not wise to telephone the probate registry to chase them – this will only slow them down further, and they will not expedite the application.
We are continuing to progress files where possible but we must advise that all Probate transactions are being affected and not individual matters.
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