If you have found out that you need probate – what are your options ? how long will it take ? what will it cost ? and who can help ?
It is always sensible to check that you actually need probate. Certainly, if there is a property owned by the Deceased, or the Deceased left cash assets over £15,000, then if you are the Executor or Administrator you will need probate.
If probate is required, the next step is to decide if you want some help. Whilst DIY probate is an option open to anyone, applying in person does require an awful lot of work including a compulsory tax return regardless as to the size of the estate.
If you decide that you want some help, what are the options ?
Firstly, there are banks, however the feedback from clients and the press over the fees charged isn’t great as the OFT found out when investigating banks charges. Typically, most banks charge a fixed percentage which can be anything between 2-4% which we firmly believe to be unfair as often the size of the estate does not necessarily mean that more work is required. For example an estate of £200,000 compromising of 1 bank account would not involve twice as much work as an estate with £100,000.
The Second option is will writers however be warned that some are totally unregulated which means that they may well not carry insurance or have a regulator to turn to if problems arise.
The Final option is solicitors. We don’t charge hourly rates and always charge a transparent fixed fee at the beginning of the case, so that as a family you know exactly the costs involved from the very beginning. We need to know a few basic questions such as to whether there was a will, how many assets and the number of beneficiaries to provide a quote.
We can obtain probate within 4-6 weeks in most cases and if you would like a fixed fee quote please contact Tim Murden on 0845 564 4000 or e-mail tim.murden@tmsolicitors.co.uk.
