Probate and Estate Administration

We understand that losing a loved one can be a very difficult and challenging time. It can often be a daunting process applying for probate and administering the estate correctly. We can offer advice and support with a clear and efficient plan covering the legal, tax and administrative processes involved.

 

The probate services we are typically asked to offer support with include:
  • Advising the personal representatives on the action required.
  • Interpretation of the Will and identifying the beneficiaries.
  • Ascertaining the assets and liabilities as at the date of death.
  • Valuation of business and shares.
  • Advising on the inheritance tax liability and reliefs available.
  • Application for Grant of Probate or Letters of Administration.
  • Call in assets and settle liabilities.
  • Calculation of the income tax and capital gains tax liabilities of the estate.
  • Distribution to beneficiaries.
  • Preparation of estate accounts.

 

We have been providing the majority of the above services to our clients for many years. We are accredited from the ICAEW to undertake the elements of non contentious probate work which are a reserved legal activity. Meaning we are able to offer our clients support throughout the whole probate process by providing a complete and seamless service.

 

In addition, our partners, named in a personal capacity, can act as Executors within your Will.

 

Why choose us?

 

  • The legal, tax and administrative processes involved in dealing with an estate can be complex. This can add additional strain during an already stressful time. We can expert offer advice and guidance each step of the way.
  • Where the deceased was an existing client of the firm, we will usually have an in depth knowledge of their financial and business interests and family circumstances. This gives us a head start in giving the personal representatives the best advice and the most cost-effective service.
  • We offer a free initial consultation.
How long will administration take?

 

The simplest probate cases may take 6 months to complete, whilst a complex case could take two years or more. Some elements of the estate administration process are outside our control eg the time taken for the probate registry to process the probate application, for HMRC to agree a business or property valuation and the related tax liabilities, or for the sale of a property to a third party.

 

We will keep you informed at regular intervals on progress with the probate application and the administration of the estate. We will update you on the estimated time required to complete the estate administration.

 

How much will it cost?

 

Our charges are based on the time taken and the level of staff required to complete the assignment. Once we have agreed the scope of our work we will provide you with an estimate of our fees. Where our work proves to be more complex and time consuming than originally envisaged, we will advise you and agree a revised fee estimate as necessary.

 

Our probate department is based at our Bury St Edmunds Office. Our probate specialists Andrew Winearls, Paul Jefferson and Nick Edgley can be contacted on 01284 752313. All 3 are probate qualified and are authorised to provide probate services by ICAEW.

 

Whiting & Partners is licensed to carry out the reserved legal activity of non-contentious probate in England & Wales by the Institute of Chartered Accountants in England & Wales under the registration number C005774536. The Probate register and can be accessed at www.icaew.com/probate. The Probate regulations can be accessed at www.icaew.com/regulation/probate-services

 

Whiting & Partners Staff Diversity Questionnaire

Whiting & Partners are accredited to perform the reserved legal service of non-contentious probate. We are required to collect, report and publish diversity data about our:

 

For information about our charging rates, professional indemnity insurance arrangements, our internal complaints procedure and how to contact the Legal Ombudsman please refer to our terms of business which you can find here www.whitingandpartners.co.uk/about-us/fees/

 

Client Review

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I have always found Whiting & Partners helpful, reliable and always willing to discuss problems and advise on the best procedure.



 
Latest Blogs in Probate and Estate Administration
 
Andrew Winearls
8th November 2018 Probate Fees Hike

The government is to push ahead with plans to change the fees for applying for probate, which will see many executors faced with funding significantly higher fees in order to obtain probate to enable them to administer the estate. The changes, which are planned to come in from next April, will see the introduction of…

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Barbara Nicholas
31st August 2017 Inheritance Tax – new exemption for residences

For deaths occurring on or after 6 April 2017, an additional exemption is available where a residence passes to a direct descendant.  At the moment, this amounts to £100,000 but it’s set to increase over the next few years, to a maximum of £175,000 in April 2020.  Commonly known as the Residence Nil Rate Band…

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Nick Edgley
21st April 2017 Probate fee increases scrapped – for now…

The government’s proposed increase to probate fees – from the current £215 to a potential maximum of £20,000 – have been scrapped, as there will not be sufficient time for the regulations to pass through parliament before the snap general election. These changes were highly controversial due to the size of the increase – the…

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Philip Peters
27th February 2017 Progressive Capital Taxation.

Probate: Fees hike to go ahead. Despite an overwhelmingly negative response to its proposals, the Ministry of Justice has confirmed that it is pressing ahead with the introduction of a new scale of fees to be imposed on the executors of deceased estate. Up to now, when executors apply for probate, a flat rate fee…

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Nick Edgley
4th July 2013 IHT Planning

Use Lifetime Trusts to Save Inheritance Tax. With the government confirming in the last Budget that the current inheritance tax nil rate band of £325,000 will be frozen until 2018, more and more people will find the taxman taking a sizeable slice of their estate on death. Making gifts during your lifetime is one solution…

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Ian Piper
24th January 2012 Top 10 Tax Elections to Minimise Tax

Examples of the most helpful and generous tax elections and claims include: s222(5a) TCGA 1992 (Nomination of main residence) This capital gains tax election, often referred to as ‘flipping’, enables taxpayers, who own and reside in more than one home, to inform HMRC which of these homes is their principal private residence. For those who…

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