Cornfield Law LLP
Probate, Trusts and Wills
We can assist you with the following:
- Probate and Estate Administration
- Tax Planning
- Lasting Powers of Attorney
- Court of Protection Work
- Management of the Affairs of the Elderly
We at Cornfield Law LLP understand the emotions caused by the death of a loved one which can be upsetting and confusing. We can help by administering the estate in a caring and understanding way.
We can advise on the preparation of Wills and also tax planning whether during your lifetime or within the terms of a Will. A Will can in some cases be an essential element of any tax planning.
A Lasting Power of Attorney is a document which enables a person, whilst they are still mentally capable to decide who they would like to deal with their affairs if they were to become mentally incapable through illness or accident. We can answer any questions you may have in this respect.
Sadly, there are times when a person becomes mentally incapable of managing their own affairs and a Lasting Power of Attorney has not been prepared. We can help you make any necessary application to be made to the Court of Protection.
Angela Hobden, solicitor and Member, is Head of Department., with over twenty years experience, qualifying in 2001. Anna Kirova is a solicitor in Private Client, qualifying in 2019. Lucy Robinson is a Chartered Legal Executive, qualifying in 2013. Christine Haniver is a Consultant Chartered Legal Executive in the Private Client Department with over 40 years of experience and Kia Murphy is a law graduate training in the department.
To discuss any services we can offer please do not hesitate to ring on 01323 412512 to arrange an appointment, or email email@example.com
Probate costs vary considerably from estate to estate.
GRANT OF PROBATE
The charges to apply for the Grant of Probate only are:
- Our legal costs £1,750.00 - £2,250.00 plus VAT £350 - £450, based on our hourly rate of £295.00, plus disbursements as follows:
- Bankruptcy searches £3 per beneficiary, no VAT.
- Advertisement in the London Gazette about £250 plus VAT £50.
- Advertisements in local papers about £250 plus VAT £50, per paper.
- Probate application fee of £273 plus £1.50 per office copy no VAT.
If additional work is required such as correspondence with beneficiaries, banks or building societies, utility companies to deal with ongoing or final accounts, there will be increased costs charged at £295 per hour plus VAT.
Once the grant of probate is obtained, then the estate can be administered. If you instruct us to administer the estate there will be additional charges. There will be charges to sell a property, sell shares or other investments, trace beneficiaries, find assets or replace missing paperwork. A very simple estate might cost on average £1,250.00 - £2,750.00 plus VAT £250 - £550 to administer. A complicated estate with many assets, many beneficiaries, where there is no Will or where there is inheritance tax to be paid could cost £5,000-£25,000 plus VAT£1,000 - £5,000 or even considerably more, again all calculated by reference to the hourly rate.
Once the size of the estate is known together with an idea of the likely problems, a more detailed estimate can be provided.
On average in a modest estate it can take up to 12 weeks to obtain the Grant of Probate, longer if there are complications. If inheritance tax is payable, this could also cause delays.
Once the Grant of Probate has been obtained it can take on average 6-12 months to collect in all the assets. Selling a property can cause delays, any other complications such as lost share certificates could also cause delays.
If the estate is a large one then it is likely there will be inheritance tax to pay. HMRC on their website give useful guidance as to inheritance tax payable. A taxable estate can take longer to administer because there can be delays at HMRC.