Wills and Probate
Wills and Probate services and fees
Welcome to J I Solicitors
We will assist in preparing your Will and in the administration of your Estate. This is also referred to as probate.
We will ensure that you have an accurately drafted Will that properly reflects how you wish to have your assets distributed after death.
We understand that family relations are increasingly complex and without a Will, your assets might be distributed following your death under what is known as the Rules of Intestacy in a way that you never intended. It is for this reason we recommend that everybody makes a Will and that the Will is reviewed regularly.
The work will be carried out by Mr John Itsagwede. The hourly rate is £250.00.
If you attend our offices, our average fee for drafting a Will is £300.00 plus VAT. An additional fee may be charged if you wish us to take your instructions by visiting you at home or at work.
If you wish to amend your Will the average fee is £300.00 plus VAT.
There are not usually any disbursements associated with the creation of a will.
A Summary of our Service:
• Will writing expertise.
• Home visits if required.
• Competitive fees.
We offer a sympathetic but professional service to those who have recently lost a loved one.
In the immediate aftermath of the loss, people are naturally distressed and often reluctant to consider the handling of the deceased’s financial affairs. Whether the deceased has left a Will, or their estate has to be distributed under the laws of intestacy, our professional courteous team will provide you with the best possible service.
Our service will include obtaining what is known as a Grant of Probate or Letters of Administration to enable the deceased’s estate to be gathered and distributed.
This will involve gathering all assets such as savings or through the sale of their property. We will arrange to pay any debts owed by the deceased and then promptly distribute the remainder to the beneficiaries.
Wherever possible, we will make sure that specific bequests such as gifts are distributed at the earliest opportunity. For those who are entitled to a larger share of the estate, we will endeavour to make payment on account of the final sum as soon as we can do so.
You can choose either between instructing this firm to deal with the whole of the estate or by taking some responsibility for the work, limiting our instructions and, consequently, our fees.
The work will be carried out by Mr John Itsagwede and the chargeable rate is £250 per hour. All work carried out is subject to VAT at 20%. The rate of VAT is subject to change by the government, and the figure quoted is that which is currently applicable.
For a full probate service, our estimated fees are £3,500.00 plus VAT at 20%. There is an additional payment of 1.5% of the value of the estate less the value of any residence owned by the deceased. If the deceased owned a residence, then there will be a further charge of 1% of the value of this, but only if it forms part of the Estate.
If you request us to only do part of the work necessary to administer the estate, our fee is usually in the region of £2,000 plus VAT. This is on the assumption that the estate is of modest value.
The disbursements that we are likely to incur are the probate office fee of £155.00 plus £1.50 per copy. The London Gazette charges £91.84 for placing a deceased estate notice.
Summary of Probate Service:
• Securing the Grant of Probate or Letters of Administration.
• Notifying all Banks, Building Societies and other asset holders of the death.
• Calculating the debts of the estate, including calculation and payment of any applicable Inheritance tax.
• Provide you with a dedicated service
• Wherever possible, early payments from the estate whilst the balance of assets is collected.
• A clear explanation of all assets, liabilities, and distribution of the proceeds.
• The sale of any residential property (subject to our usual fees).
Summary of Disbursements (these are costs charged by others involved in the process):
• Probate application fee – £215.00 plus £2.00 for 4 copies of grant
• Oath fee – £7.00
• London Gazette fee – £91.84 for placing the estate notice of deceased, and it protects against unexpected fee from unknown creditors
• Post in local newspaper – £222.00
Disbursements are costs payable to others involved in the process, i.e., court fees. There are no VAT charges in the disbursements quoted above. Where VAT is applicable for a disbursement, we will inform you.
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