Wills & Probate Why Not Do Something for yourself?

Planning how and where you would like your assets to go after your demise or death is a difficult choice to make in life. A Will is definitely one of the best and vital legal papers you will ever have and or need. Avoiding needless discomfort, tension and worry for your loved ones, it’s not too early to do or prepare.
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Wills & Probate

Dying without a Will?

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Regrettably, it’s not good enough that a family member perhaps knows what you want. If you don’t have a Will, your wishes are not legally binding, and there is no certainty or guarantee that your wishes will be adhered to or followed.

If you were to die without a Will:

  • Your family and or spouse might not inherit all of your estate, that is the total value of all that you own.
  • If you are unmarried your partner would not legally be entitled to any of your assets.
  • Your children, children from a previous relationship, or susceptible and defenceless beneficiaries could miss out on what you may want them to inherit
  • You have no control over who will look after your children if they are under 18.
  • Organisations such as charities would not be considered.

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Protecting your wishes and bequest or legacy by:

  • Naming your beneficiaries and specifying what you want them to inherit
  • Appointing executor(s) you know and trust (the people who ensure the provisions in your Will are carried out correctly)
  • Planning out your wishes for precise and sentimental items including gifts to charities of your choice
  • Specifying and setting out your funeral arrangements
  • Setting up a trust to protect against third party claims
  • Choosing when children and/or grandchildren would inherit
  • Appointing trustees and guardians for any children or minor under 18
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DO I NEED A WILL?

There are many misconceptions about who should make a Will. No matter what your age, marital status, or the size of your estate, it is likely that you would benefit from the peace of mind that having a Will brings.
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When should I make a Will?

Having a Will is not something to put off until later. These life events have an impact on your Will, and will either prompt a review of your Will or require an update.
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Fees

Will Writing & Drafting Fees

Bespoke Will writing: £250 + vat (£300) for single and £400 +vat (£480) for couples.

This includes individual advice.

Probate Fees and Disbursements

The amount required to undertake all the work to be performed by us in acting on your instruction from start of your case to completion are as follows:

Grant of Probate or Letter of Administration Only

Our fee for uncontested probate matter is between £625 – £750 + Vat (£750 – £900 Inc Vat) for a grant.

See below:

Estate value up to and including £350,000       —        £625 + Vat = £750

Estate value over £350,000                                  —        £750 + Vat = £900

Administration of Estate

Our fee for uncontested probate matter for Estate administration is 1% of gross value of estate with a minimum fee of £1200 + vat (£1440 includes Vat).

The above-fixed fee is only applicable if all assets are located in the UK.

Depending on the complexity of your case, we have the right to charge hourly rate for our work at the following rate: £200 + Vat (£240) per hour.

Home and care home including hospital visits are charged at £75 + Vat within the London area. Extra may be charged outside the London area.

On a broad base, our fee estimate is based on the following:

  • There is a valid Will.
  • There is no more than one property involved.
  • There are one to two beneficiaries
  • There is cooperation among the parties to the transaction.
  • No claims made against the estate
  • There are no intangible assets
  • No disputes between beneficiaries
  • No inheritance tax payable and the executors do not need to submit full accounts to HMRC
  • No unreasonable and material delay in the provision of documentation from clients.
  • No tax clearance certificate waited for income and or inheritance tax.
Time it would take for the process

Timing of the process could take up to 52 weeks.

Obtaining grant of probate can take up to 10 weeks.

Other processes of the administration could take up to 42 weeks.

Intestacy or No Will case

In the case of No Will, our fees could rise materially depending on the estate and how it is to be dealt with.

We can give an estimate for this once more information becomes available to us.

Extra costs

There are other costs that may be payable, such as probate registry fees between £255 to £275

Additional copies of grant letter at £1.50 per copy.

There may be additional professional fees depending on the case, such as estate surveyor, stockbrokers, legal fees for selling any property.

Our Office

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Address
Claverings Business Park,
14 Centre Way,
London N9 0AH
Call us
0208 887 6132
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    Copyright by Stan Kelly & Co. All rights reserved.
    Stan Kelly & Co is the trading style of Stan Kelly & Co Ltd.
    Registered in England No. 7185585

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    Copyright by Stan Kelly & Co. All rights reserved.
    Stan Kelly & Co is the trading style of Stan Kelly & Co Ltd.
    Registered in England No. 7185585

    https://www.stankelly.com/wp-content/uploads/2022/02/ACCA-logo-2.png