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InHouse Wills & Probate

former Willwriter of the Year

InHouse Wills arranges expert help for clients dealing with probate in Leicester and all surrounding areas.

 

Let us visit you at home to advise on probate, whether you live in Narborough, Kirby Muxloe, LE3, LE9, LE19 or indeed anywhere in and around the Leicester area.

 

 

Grant of Probate

We have for our probate service in Blaby, Broughton Astley, Earl Shilton, Glenfield, Huncote, LE9, LE19 -  indeed around all parts of Leicester

Probate & Estate Administration

Probate officially confirms the situation regarding the Will (or lack of a Will). It is just a part of the overall Estate Administration process. There are major responsibilities involved, but help is available. We can also advise on ways to reduce future probate costs.

Probate & Estate Administration

 

Whenever anyone passes away someone has to sort out their financial affairs. The whole process is known as Estate Administration. For those with few assets the process may be very simple, whilst for others it can take many years with major tax, legal and financial responsibilities to be discharged. In all cases the Will must be put into effect by the executors, or where there is no Will then the rules of Intestacy must be applied.

As part of the process whoever is administering the estate often has to obtain a Grant from the Probate Court. This grant formally confirms the situation regarding the Will (or lack of a Will) and gives authority to the administrator to deal with the estate. Normally the need for a grant of probate does not depend upon whether or not there is a Will; it depends upon the size and nature of the assets in the estate. For example, if a house or a major savings account is to be transferred then probate will be required.

There are many different ways to handle the estate administration. If everything is quite simple then family or friends of the deceased might deal with things themselves. However you need to be aware that you will be responsible for your actions for up to 12 years. For that reason at the very least you should take some advice about what is needs to be done and InHouse can help you with that.

On the other hand you can appoint professionals to deal with things for you, but be careful about which service you choose. Lots of firms will talk about ‘doing probate’, but that might mean they just fill in a couple of forms leaving you to sign and you to carry the responsibility. Here at InHouse for the more complex estates we recommend our partners Kings Court Trust Ltd who provide a full estate administration service; Kings Court fill in all the tax and legal forms, shoulder the formal responsibility and complete the full estate administration process.

Just as the nature of an estate varies greatly from person to person, so the costs associated with probate and full estate administration vary too. Recently the government proposed significantly increasing the costs of obtaining probate, but these plans were put on hold for the time being (April 2017), but could come back again soon. Nevertheless there are ways to reduce or even avoid probate costs, provided you plan ahead.

Beyond these official fees there can be the additional cost of using a solicitor or other professional to handle the administration for you. Traditionally solicitors have charged on an hourly basis. Families accepting this approach were effectively writing a blank cheque, not being certain about the final bill. Other families let their bank deal with things for them, which often involved a large fee based simply on a percentage of the size of the estate. In more recent times Kings Court has led the way with a different approach, quoting a fixed-price fee based upon the exact details of the case. The fixed fee means that the family can know what they are committing to before accepting Kings Court’s  offer. InHouse can arrange a quotation for you if required.

Given the costs of probate families have always been interested in alternative approaches. However estate administration involves dealing with the entire inheritance and all its associated liabilities, so care has to be taken not to cut corners. Nevertheless increasingly there are ways in which you may be able to reduce overall costs safely, through clever use of your Will and / or exploiting trusts created during your lifetime. Using Wills and trusts appropriately can also bring many other major benefits, protecting the inheritance as it passes down the family. There can be many options, so it will be important to let InHouse look at your situation in detail to see what approaches might be suitable for you.

 

Pre-paid Probate

You may have been offered a service to pay for Probate in advance - a so-called “Pre-bate” service. In other cases you may be ‘guaranteed’ that the fee will be no more than a fixed percentage.

Our advice is clear - be  VERY CAREFUL before paying in advance for Probate or for so-called discounted fees. There are many reasons to avoid this, including

 

Probate and IHT papers

Applying for Probate and completing Inheritance Tax forms - help is available.