Probate & Estate Administration
Watts Gregory LLP are licensed by the Institute of Charted Accountants in England and Wales ("ICAEW") to provide probate services.
Dealing with an estate can be a daunting task, especially if you have not administered an estate before. We offer a flexible probate service to provide as much or as little help and support as is required so you may engage our help as a sounding board or for specific queries for a 'time spent' charge if you would appreciate guidance but wish to limit your costs.
Included within our grant of probate only service:
- Review of the will and any codicils to ensure that they are valid
- Prepare the inheritance tax return and supplementary schedules
- Prepare the papers for application for a grant of probate
- Send the completed application to the probate registry
- The personal representatives will then be provided with the court issued grant so that they can proceed to collect in the assets, settle the debts and distribute the estate according to the terms of the will or the rules of intestacy
Included within our estate administration service:
- Write to the estate beneficiaries
- Contact financial institutions for relevant date of death information (if required)
- Register the grant with the estate asset holders and gather in the assets of the estate
- Finalise the estate tax
- Pay the debts of the estate including tax liabilities
- Pay legacies and transfer the remaining estate to the residuary beneficiaries
- Prepare clear estate accounts to record how the assets have been dealt with and the debts settled throughout the administration period, and the distributions of assets to the beneficiaries of the estate
Services we do not provide:
- ICAEW licensed probate practitioners are not allowed to assist with a contentious probate. If there is a dispute then a specialist probate lawyer needs to continue the process. The matter can be passed back to us later, once the dispute has been settled.
From initial instruction, it should usually take between 2 to 8 months to apply for a grant of probate, depending on the complexity of the estate.
An average estate administration will take between 9 to18 months to complete. Due to the nature of the work and dependent on the complexity of the estate and the requirements of the Will, in some circumstances it may take up to two years to complete the administration and in more complicated circumstances it may be longer.
Factors which may influence the timescale for administering and distributing an estate include, but are not limited to, the following:
- Ascertaining and locating the beneficiaries of the estate
- General size and composition of the estate
- Estate property sales being completed
- Delays with third parties such as HM Revenue and Customs and the Probate Registry
- Administration of any foreign assets
For pricing details please click here