fixed fee probate solicitors UK

Fixed Fee Probate Solicitors – Why Should You Select a Fixed Fee Probate Solicitor?

What is Probate?

fixed fee probate solicitors UK

Probate is the name used in England and Wales to describe the legal and financial processes involved in dealing with the assets of a person who has died. These assets can be money, property, or possessions. One should apply for Probate to inherit the deceased person’s assets irrespective of whether they left a Will.

The name of the legal document is called a Grant of Representation. However, the Grant is called a Grant of Probate when there is a Will and Letters of Administration when there is no Will. Nonetheless, the overall process of obtaining the Grant and dealing with the Estate is commonly referred to as ‘going through Probate.’

When is Probate Required?

When the next of kin or Executor named in the Will needs to claim, transfer, sell or distribute any asset of the deceased, a Grant of Probate or Letters of Administrations may be required.

If the deceased has no Will, the law will determine who the beneficiaries are and appoint an administrator to administer the Estate. This determination is made by following The Rules of Intestacy.

A Grant of Probate or Letters of Administration is usually required when:

  • The deceased owned a property (house, land, or buildings)
  • A bank or other financial institute asks for a Grant of Representation to ensure they transfer the funds to the correct person

Do I Need a Probate for Small Estates?

If the deceased’s estate is small with no property and less than the relevant bank’s Probate threshold, the Executor or the Administrator won’t need a Grant of Representation to release the money. Where the money held is below a financial institution’s Probate Threshold, a Statutory Declaration will need to be completed to access the funds.

Do I need a Probate for Joint Assets?

When you own a joint asset with the deceased, you don’t need a Grant to claim it. The assets of joint owners (such as joint tenants for a property) will pass to the surviving co-owner under the right of survivorship. The co-owner needs to produce the deceased’s death certificate to transfer the asset into their sole name.

Do I need Probate for property owned as tenants in common?

When you own a property as tenants in common with the deceased, you will need to apply for a Grant of Representation. In this case, each co-owner owns a distinct share of the property.

Do I need a Probate to Sell a House?

If a deceased person solely owns the property, you need a Grant of Probate or Letters of Administration to sell it. If the house is held as joint tenants, the surviving co-owner can sell it by providing the deceased’s death certificate.

Solicitors Fees for Probate Work

Solicitor fees for probate work vary. Some probate specialists and solicitors charge an hourly rate, while others charge a fee that is a percentage of the estate’s value.

The percentage varies from 1% to 5% of the value of the estate, plus VAT. For example, an estate value of £100,000 may end up paying £1,200 minimum for a 1% fee and £6,000 minimum for a 5% fee.

Some probate solicitors charge both an hourly rate and a percentage fee. But, sometimes, these solicitors would be less expensive than those applying a flat percentage.

Fixed Fee Probate Solicitor Fees

A few probate specialist companies charge a fixed fee for their services (and we are among them). They estimate the cost by the projected volume of work involved. This service is usually less expensive than hourly rate solicitors and solicitors who charge a percentage fee of the estate’s value.

Fixed Fee Probate Solicitors

The main advantage of choosing a fixed fee solicitor is that they charge a fixed fee instead of increasing hourly rates or the estate percentage. With hourly rate solicitors, there is uncertainty about how much the total fee will be. Paying a percentage of the estate might mean you are paying a disproportionately high fee for the actual work involved.

On the other hand, fixed fee probate solicitors estimate the fee on the total work they will undertake. In short, fixed fees mean that you know where you stand before you have committed a penny.

Why Us?

We not only offer fixed fees but also provide flexible service options to choose from. If you just need a little help through your Probate journey, we are here for you. If you want the Grant of Probate or Letters of Administration, we can obtain that for you. If you would prefer full estate administration, we can offer a fixed price for that too.

If you would like to hear more about our range of services and fixed fees, contact Trustd Legal Services for a free consultation with our Probate Specialists.

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