Levels Of Probate Services & Timeframes
At Cribbin & Co we are flexible in our approach to each individual client needs. We, therefore, can assist you with your probate or intestacy case as much or as little as you require. Some clients instruct us to simply obtain the Grant of Probate or Letters of Intestacy on their behalf, others wish for us to administer the whole estate for them. We also advise clients on the validity of Wills and the intestacy rules and can help trace beneficiaries.
We offer services to suit each individual client and our costs and timeframes depend on a few factors:
- If the estate is subject to inheritance tax. If the estate requires an inheritance tax account to be submitted to HMRC then this usually makes the estate more complex and longer to conclude.
- If there is a Will. Usually, it is simpler to administer an estate where there is a valid Will whereas with an intestacy the beneficiaries may not be known and therefore must be traced and therefore the process takes longer to conclude.
- If there is a dispute about the Will or the estate. Naturally, if there is a dispute about an estate, discussions, and negotiations about this can take some time to conclude and then the administration of the estate will take longer.
Generally speaking, a simple straightforward probate estate takes on average 6-8 months and more complex ones around 12 months to conclude and more straightforward cases can sometimes be concluded quicker. Of course, each case is different and we will advise you at the start of your case our estimated time frames for your individual case to conclude.
Stages of the Administration of an Estate
Once we have provided you with a quote or estimate, this will cover the following work:
- Ascertaining the value of all the assets held in the estate, which includes the balances held in any bank or building society accounts, the value of any shares and other investments and any properties which are owned (this is not included whereby you wish for us to obtain the Grant on your behalf. In those cases you will be required to provide the information to us).
- Identifying the legally appointed Executors or Administrators and beneficiaries of the estate
- Accurately identifying the type of Probate application which will be required
- Completing the relevant Inheritance Tax forms and if the estate is subject to Inheritance Tax, arranging for the payment of any tax to be made
- Preparing the Probate Application for approval by the Personal Representatives to enable us to submit the application to the Probate Registry to obtain the Grant of Representation, which is the formal authority to handle the assets and distribute the estate
- Arranging to collect in the assets of the estate and paying any funeral expenses and other debts
- The preparation of an estate account in respect of monies received and paid out on behalf of the estate for your approval, prior to distributing the estate
- Answering any enquiries from the Department for Work & Pensions in the event of any benefits being received during the lifetime of the deceased
- Finalising the Income Tax affairs of the deceased
If you are unsure on what level of service you require simply call us on 01925 759 255 and we are more than happy to offer you a free 30-minute initial consultation.