Wills and Probate

Everyone knows they should make a will, but it often languishes near the bottom of the to-do pile.

Whether you want to write or update a Will, contest a Will or deal with the affairs of a loved one who has passed away, SL & Co can offer all of the legal support that you require.

The law around Wills and Probate can seem complicated but we’ll make it as simple as possible and communicate in plain English. We’ll give you clear information about the costs going forward, so that you know exactly how much you’ll pay. We can also help with Inheritance Tax planning to minimise the amount that your estate has to pay and make sure you can leave as much as possible to your loved ones.

However, making a Will isn’t as stressful as you might imagine it to be. A Will makes sure that those you care about benefit from your “estate”. That means everything you own and have worked for, after debts have been paid. And with the guidance of a specialist lawyer, it can be a smooth and straightforward process.

It helps to look at this from a different angle. If you die without having made a Will, your estate will be distributed according to law and that runs the very real risk of someone other than those you intended to benefit inheriting your assets.

Our Wills, Trusts and Probate lawyers take time to understand exactly what you own, the people who matter most to you, and the provisions you would like to leave. We’ll advise on the best, most tax-efficient, way of sharing out your estate and of structuring any terms.

We’re here to make the process easy for you and help you to consider your specific circumstances as a whole by taking into account any property and assets you own personally, as well as any business interests you might have. And we’ll help you express your wishes in a way which leaves no doubt for the future. We can also help you provide for any disabled or vulnerable beneficiaries through the creation of Trusts which can protect assets from means-tested benefits or outside influences.

We can also help you make a Lasting Power of Attorney (LPA) if you’re worried about managing your finances or making decisions in later life. We could also help you challenge an existing LPA.

Working with us means you’ll get clear, cost-effective advice from specialists. If a loved one has died, we’ll work sensitively and efficiently to minimise the stress you experience at this difficult time.

Our Services include:

• Will preparation
• Inheritance Tax planning
• Preparation and administration of Trusts
• Making and registering Powers of Attorney
• Administration of Estates (in accordance with a Will or the Intestacy laws)
• Deputyship applications
• Post death Deeds of Variation
• Probate Disputes

Once you have made a Will, don’t forget about it.  Things change, relationships develop, people come into and go out of our lives.  So, it’s important to keep your Will under review.  We recommend you should revisit it at least every four or five years – or when a significant change affects you – to check that it still reflects your wishes.

Whether you instruct us to prepare your Will for the first time, or to update an existing Will, we’ll make sure that it is well-thought through, clear and legally binding.  And in the process, we’ll make the task of planning for the future as straightforward as it can be.

Probate

The Administration of an Estate, whether straightforward or complex, can be a very difficult time for both you and your family. Working with us means you will get clear, cost-effective advice from specialists who will work sensitively and efficiently to minimise the stress you experience at this difficult time.

Our costs of dealing with the Administration of an Estate are calculated mainly by reference to the time spent by us on your matter. Time is charged out at an hourly rate and these vary depending on the complexity of the estate involved and the fee earner who specialises in this area.

It is impossible to predict the costs accurately at this stage or any other stage as there are so many variable factors. Every matter is different from one to the next and we cannot know in advance how much perusal and preparation time will be required on your matter. We will ensure that we contact you to advise the current position of your matter and answer queries that you may wish to raise.

Our services

The key stages of work carried out up to obtaining the Grant of Probate could include:-

• Receipt of client’s formal instructions, ID and signed Terms & Conditions of Business by the Personal Representatives (“PRs”).
• Preparation of the Estate Account.
• Receipt of paperwork from PRs relating to the assets and liabilities.
• Corresponding with the Investment Companies, Banks, Building Societies, Share Brokers.
• Dealing with the Land Registry.
• Preparation of IHT Forms and submitting these to the Capital Taxes Office.
• Receipt of the Capital Taxes Form and preparing a Statement of Truth for the Grant of Probate.
• Submission of the Probate Application.
• Once the Grant has been received releasing the assets of the Estate and providing you with a copy of the Estate Account for your safe keeping.

Our Fees

Should a Director or any other employee of this Company be instructed to act as Executor to an Estate, we reserve the right to charge up to 1% of the Gross Estate as remuneration for the work carried out by the Executor in addition to the Fees charged by the Company for work carried out in dealing with the Administration of the Estate.

We anticipate that the work carried out on this matter would be between 13 – 20 hours work and charged out at £160 an hour.

Disbursements that would be included in this fee are:-

• Probate Application fee of £215.00
• Bankruptcy- only Land Charges Department Searches of £2.00 per Beneficiary
• Land Registry office copies of £3.00 per copy

Disbursements are costs that are related to you matter made payable to third parties, such as Court Fees or the Land Registry.

Additional costs may arise on your matter where:

• There is no Will and enquiries will need to be made concerning the family tree.
• The estate holds any stocks or shares
• The distribution of the estate is complex, there are many beneficiaries or some of these beneficiaries are charities.
• If any of the Executors of the Estate lack Mental Capacity.
• The estate has to pay Inheritance Tax, or the fuller Inheritance Tax form needs to be completed.
• A Deed of Variation is required.

How long will this take?

On average, estates are usually dealt with within 6-12 months. Typically, obtaining the Grant of Probate can take up to 12 weeks. Once the Grant has been received, the assets are then collected which can take up to 6 weeks and then a further 4 weeks to distribute. Fees are then collected from the estate assets in order to settle our invoice.

For further advice on wills and probate, or to discuss your case, please contact us through the online enquiry form or telephone 01564 777250