What is probate?
Probate is the legal process of dealing with the estate of someone who has died. This generally means clearing their debts and distributing their assets in accordance with their will (or rules of intestacy where no will has been left).
The people responsible for this process are known as the personal representatives. There are two types of personal representative, an ‘executor’ who is appointed in the will or an ‘administrator’ where there is no executor named in the will and if there is no will.
How can we help?
Jamieson Alexander Audit is authorised by ICAEW to provide non-contentious probate services. This means that we can be appointed to act on behalf of the legal personal representatives.
Details of the firm’s probate registration can be viewed at www.icaew.com/probate under firm reference number C006030683.
As it is no longer necessary to swear an oath to receive the Grant of Probate, it is possible for the entire process to be dealt with remotely where that is more convenient for the personal representatives.
Our services include the following:
- Applying for the grant of probate;
- Collecting in assets and getting them valued;
- Settling debts;
- Calculating inheritance tax due on the estate; and
- Distributing funds to the beneficiaries
We can also help with Inheritance Tax Planning so please call us for a no obligation free initial consultation.
Our fees
We do not charge on a percentage basis based on the value of the estate, but on a fixed fee basis according to the work you wish us to undertake. Following an initial conversation with you, we will provide a fixed fee quote for the work as required.
The fee will typically range between £2,500 plus VAT and £10,000 depending on the complexity of the estate and the level of support required.
Further costs, at our hourly charge rates, would apply for any additional services required. A full quote would be provided prior to engagement.
All charges are subject to the addition of VAT at 20%.
In addition to our fees, you will incur disbursements. These additional fees relate to the payments made to third parties on your behalf.
Probate Application: £273
Copies of the Grant of Probate: £1.50 per copy
Post in the London Gazette & Local Newspaper: £300 (estimate)
Please note that newspaper posts are not compulsory, but it is advisable to protect against unexpected claims made against the estate.
Duration of the matter
On average, you can expect estate work to be dealt with within 6 to 12 months. This, in any case, will be subject to the complexity of the estate itself, the tax affairs and personal circumstances of the deceased, and the volume of services required.
The expected timescales are outlined below, please note these are typical timescales and are subject to change dependent on any difficulties identified throughout the process.
Valuing the assets in the estate: up to 8 weeks.
Completion & submission of the Inheritance Tax forms and making an application to the Probate registry: up to 12 weeks.
The Grant of Probate issued from the Probate registry, following application: up to 12 weeks.
Collecting and subsequently distributing the estate assets: up to 16 weeks.
Completion of estate tax returns & estate accounts: up to 20 weeks following receipt of the Grant of Probate.
Benefits of working with us
Not all firms that carry out estate administration are regulated. Our regulation means we follow strict rules designed to protect you and to ensure you receive a high-quality, professional service.
This means that we offer the following reassurances:
- We are monitored by ICAEW to ensure we meet professional and ethical standards;
- We comply with ICAEW’s Legal Services Regulations and Code of Ethics;
- We must meet stringent accounting rules to keep client funds secure:
- We maintain professional indemnity insurance (PII) offering protection for our clients in the unlikely event of a professional error. The details of our insurer may be found here: https://www.jamiesonalexander.tax/legal;
- You can contact the Legal Ombudsman if something goes wrong and you're not satisfied with how we handle your complaint; and
- You may be able to claim through the ICAEW Probate Compensation Scheme. Details and eligibility are available on ICAEW’s website.
Complaints procedure
We are committed to providing you with a high-quality service that is both efficient and effective. However, should there be any cause for complaint in relation to any aspect of our service please contact our managing partner, James Rylatt, at our registered office. We agree to look into any complaint carefully and promptly and do everything reasonable to put it right.
We will consider carefully any complaint that you may make about our probate services as soon as we receive it and will do all we can to resolve the issue. We will acknowledge your complaint within five business days of its receipt and endeavour to deal with it within 8 weeks. Any complaint should be submitted to us by letter.
If we do not deal with it within this timescale or you are unhappy with our response you may of course take the matter up with our professional body the Institute of Chartered Accountants in England and Wales (ICAEW) and the Legal Ombudsman.
Complaints to the Legal Ombudsman should be made within six years of the act or omission or within three years of you becoming aware of the issue, and in either case within six months of our written response to your complaint to us.
The contact details for the Legal Ombudsman are:
Letter: Legal Ombudsman, PO Box 6167, Slough, SL1 0EH
E-mail: enquiries@legalombudsman.org.uk
Telephone: 0300 555 0333
For more information about our probate services please contact: