probate paying iht – Probate Experts Cost Cutters

Probate Help Prices Probate Costs

Stephen Pett — Tue, 20 Mar 2018 14:51:40 +0000

Sensible Probate help costs and fair prices for all. That is what we are aiming for. Not necessarily the very cheapest, but good value and customer service. Help in obtaining a Grant of Probate or Letters of Administration isn’t always needed. Though the work is often fairly straightforward if you have an administrators brain, many people just need a little Probate help. Most firms can’t be bothered with that. We work with firms that are different.

Further down – Probate Rip-Offs to look out for.

They can give as much or as little Probate help as you feel you need, and switch to the next package up, just paying the difference, if you find probate more complex than you expected. We ensure they keep their overheads low and service standards high so that you pay less. All work is subject to their normal Probate help terms of business. We ourselves just give general guidance, but we can put you in touch with the right people for your circumstances and needs. Applying for probate need not be a big worry for you.

No plush offices.
No fancy cars.
No gatekeepers to stop you from speaking to the right person.
No per letter charges.
No “responsibility allowances.” They alone can triple your bill elsewhere.
No charge for UK phone calls, stamps etc.

The especially low-cost Probate help services packages are designed only to deal with straightforward cases where there is no tax, no trusts and no overseas issues. Not that the more complex packages are expensive – they are still relatively inexpensive when you realise that it is easy to go to a local firm (probably non-specialists) who can charge 3 or 4% of the gross value of the estate. Some add a responsibility allowance of up to 1.8% of the value of the estate ON TOP of charging the full hourly rate fees!

Our associates lowest cost Probate service is for estates with:

No Inheritance Tax to pay.
No complex Trusts to set up.
English or Welsh people with estates based in England and Wales.
If you don’t fit neatly into that category, give us a ring with the details and we’ll advise what costs are likely to be.
Where overseas assets are concerned, we need to know in advance as overseas lawyers may need to be used.
If that doesn’t fit, go to option 4 or use the enquiry form to the right.

Typical rate in the market for Probate help is around £288 – £450 an hour plus VAT. Our most economical associates rates for simple estates typically range from £99 an hour. For estate where Trusts or IHT are involved, the rate is £149 – still a big saving. Plus third-party costs. More sophisticated solicitor-led advice will naturally cost more, but will be sensible in the market. High-level advice may be essential in estates where serious arguments are likely. Not all firms are equipped for Court appearances in disputes.

For brief advice, an example initial fee is from £50 for the first 20 minutes, plus £3 per minute after that, plus VAT as applicable. If it is really straightforward, they wIll try to point you in the right direction at no further cost, before referring you on, but this is only an initial review, not necessarily an in-depth appraisal. Extra time will be needed if you require written advice, which we cannot do ourselves.

Another option – if you just want to hand the whole estate administration and Probate help process over to one of our associates after supplying the initial information. For straightforward estates without disputes there is a flat 1.50% + VAT – unless you choose to pay hourly rates – and third-party costs of the gross value of the estate (there may be a minimum fee depending on the size of the estate.)

Our Probate help enquiry form is to the right. Please include a phone number.

Probate help at fair prices via The Probate Department (Brokers)

Probate Fees: how to keep them sensible.

Probate fees: our mission at The Probate Department (brokers) (a private business helping to keep probate fees down.)

Probate Department MD Stephen Pett

Our mission is to keep probate charges SENSIBLE. We want to provide a good, friendly and efficient service at modest fees which still allow us to make a decent living. Often you can find enough help here to avoid professional fees – but please be aware that we ourselves can only offer general guidance, not professional advice.

There are three areas where we feel that probate fees can be a massive rip off:

Percentage probate charges – does it really cost ten times as much to deal with a bank account with £10,000 in it than one with £1,000? No, of course not.
Letter charges – many firms probate charges allow them to charge for each letter – perhaps £45 + VAT (on top of the hourly rate). Some firms can produce 10 letters in ten minutes with specialist software, costing you maybe a few pounds in probate fees not £450! And some don’t charge you for the stamps or phone bill either.
Probate fee rip off alert – “responsibility allowances.” What happens here is that the Law Society allows firms to add a commission based on the value of the estate because the bigger the estate, the more responsibility. Whilst there is a very vague justification in mega-money estates, this probate fee add-on can triple the final bill for probate. The Law Society sanctions a charge of up to 1.5% + VAT of the value of the estate. On a £100,000 estate that could be £1,800 extra!!! £1m in a bank account would attract a bonus of £18,000.
Fixed Fee Probate – not a bad thing in itself but be aware that it means the awkward cases are subsidised by the ones which turn out to be easier. And the small print will often show that the fee isn’t fixed at all!

Our probate charges are typically 30 to 50% below most solicitors or banks and we have an in-house barrister for cases which prove complex which could mean a saving of well over £200 an hour on commercial rates.

All fees are plus VAT as applicable.

Probate Fees: our terms and conditions of business.

We are in no way connected with the Probate Registries which are a part of Her Majesties Court Service.

Probate fees. More help on Probate/ Will Disputes.

Dealing with finances when your partner dies

Stephen Pett — Tue, 27 Aug 2013 04:20:16 +0000

Dealing with finances and protecting your family’s future when your partner dies.

When your partner dies…

According to the Women’s National Commission, an estimated 500 women become widowed in the UK every day. But when losing your partner is devastating for any woman, for those who suddenly find themselves dealing with the family finances for the first time, it can also be very frightening. The consequences of poor legal planning can be severe for married couples, and disastrous for unmarried ones.“There are still a lot of women, particularly among the older generations, who have spent most of their lives without ever making any significant financial decisions,” says Ruth Dolan, a Chartered Financial Planner.As an accredited Later Life Adviser and member of SOLLA (Society of Later Life Advisers), it’s a situation Ruth has come across many times.“Often, as was traditionally the case, men took on the responsibility of handling all aspects of the family finances,” she says.“In other cases, the husbands have taken full responsibility of the finances because they genuinely believe they are doing the best thing for their wife. Unfortunately, if he dies, their wife may feel utterly lost. It’s a daunting prospect for them when they have never had to deal with banking, let alone manage investments and savings.”For those who have never even had to deal with day-to-day budgeting, the prospect of sorting out their loved one’s estate can make an already emotional and upsetting situation even more daunting, particularly if there is no will or the estate is complex.“If your husband has always managed the family finances, you may be left totally unaware of what your financial situation is and how to cope,” says Ruth. “You’re suddenly faced with paying the bills, sorting out pensions and investments, and dealing with tax matters – all at a time when you are struggling to cope with your loss.”But as hard as it is to focus on finances when you are bereaved, it’s crucial to take proper advice to make sure you can manage and safeguard your family’s future.“It’s important you know where you stand in relation to income, taxation, savings and investments and any life policies that are in place,” says Ruth.“In the event of your husband’s death, your financial situation can change considerably. Your requirements may suddenly be very different so it’s vital that these are reviewed to make sure they meet your future needs.”In the short term, you could be entitled to certain benefits to help you pay for funeral costs, as well as allowances, one-off payments and other benefits. These could include a Bereavement Payment (a lump sum), or a Bereavement Allowance (a regular payment paid for 52 weeks from the date of bereavement).“Again, you should seek advice as soon as possible about your entitlements, as some benefits need to be claimed within a certain time,” says Ruth.It’s also important to sort out your spouse’s tax and National Insurance as soon as possible, since there may be tax to pay or even a rebate due. If both you and your spouse were getting the basic state pension when they died, you may be able to use their National Insurance contributions to get extra basic pension. You may also be able to claim money from your spouse’s personal pension scheme or life insurance policy, or be entitled to a War Widow’s Pension.In the long term, however, losing a husband’s regular income can leave you struggling to make ends meet on a single income. “Before you start dipping into savings, take a fresh look at your investments and aim to preserve your capital for the future,” says Ruth. “You may find that by simple restructuring of your investments you can generate more income.”It’s also wise to review your will when your partner dies to consider whether your wishes remain the same. It could also be that further inheritance tax planning is required if you haven’t considered this before.You should also think about what help is available when it comes to making financial, health and welfare decisions if you become unwell or lose capacity. In these situations, a registered lasting power of attorney would be invaluable.“It’s difficult to face all these issues at such an emotional time, particularly when you’ve never had to deal with financial matters before. But a sound strategy will help reduce the financial burdens and allow you to focus on what’s really important – coming to terms with your loss and hopefully moving forward,” says RuthStephen Pett, of The Probate Department Ltd says “Sound advice from Ruth – if you aren’t local to her, we know many professional Independent Financial Advisers so we can no doubt introduce you to a local one. When your partner dies it is crucial to get sound advice, especially if your advance planning has been less than perfect. We thoroughly approve of sound legal and financial planning – and you might even wish to read my ebook on the subject!! www.LegalPlanning.com For our free guide to Probate click what to do when someone dies. Bereavement help

When your partner dies.

20,000 + Due IHT Rebates

Stephen Pett — Tue, 06 Aug 2013 04:20:27 +0000

IHT RebatesIHT rebates are due to many people, according the the latest issue of The Heir Hunters Association Newsletter.More than 20,000 people may be due an average £4,260 IHT rebate after paying too much inheritance tax as property prices fell between 2008 and 2012, research has found.The figures are the result of falling house prices over those four years, as experts calculate a drop of around 11 per cent . British home owners could have overpaid a total of £90 million in IHT after inheriting residential properties, according to figures released recently.A study by a financial services provider showed an estimated 21,000 estates could be owed an average £4,260 IHT rebate, as “many people don’t realise” what they may be owed.Those who inherited property between June 2008 to February 2009 and June 2010 to August 2011 are the most likely to be eligible for an IHT rebate, it was said.The figures are the result of falling house prices over the last four years, as experts calculate a drop of around 11 per cent.Inheritance tax, which is based on the value of the property at point of death, can be reclaimed if the property sells for less within four years.Tax specialists at NFU Mutual have now calculated the difference could add up to £90 million in IHT rebates across the country.Sean McCann, personal finance specialist at NFU Mutual, said: “Many people don’t realise that they can claim an IHT rebate if the property they inherit sells for less than it was valued at during probate.”And with house prices generally falling across over the last four years, thousands of people could still be able to claim an IHT rebate on any such overpayment.”The estimations were made using a combination of inheritance tax breakdowns from HMRC and monthly house price data from Land Registry.NFU Mutual estimated the fall in the value of properties liable for inheritance tax between probate valuation and eventual sale on a month-by-month basis over the last four years and therefore how much tax may have been overpaid.And that’s all for now, keep on reading and digesting our news and learn how being a HHA member can benefit you and your research business – learn how the role of the Heir Hunter is changing, to encompass the tracing of unclaimed assets from a variety of sources, all needing the dedication and research skills of members, and with a growing need for more members in the UK and worldwide. Read the Heir Hunters newsletter here.

IHT rebate.

For more on visit or Main Inheritance Tax Page. See also unclaimed assets search.