Probate

Walter Dawson & Son Is Licensed By The Institute Of Chartered Accountants In England And Wales To Carry Out Non-Contentious Probate In England And Wales.

Our specialists Richard Hall & Julie Young are experienced in dealing with applications for probate and the full administration of an estate. Our aim is to take away the stress and worry of performing such tasks at a difficult time for family members following the loss of a loved one, or to assist non-family members appointed as executors to a will to meet their statutory duties.

Probate is the financial and legal process of dealing with a deceased’s estate.

This includes

  • Applying for Grant of Probate
  • Calculation of Inheritance Tax payable and Preparation of all tax returns
  • Estate administration
  • Collection of the assets, discharging liabilities and expenses
  • Preparation of estate accounts
  • Allocating the estate to the beneficiaries
  • General advice and support on the role of executor/administrator

We primarily work with existing clients and their families as we already have a strong knowledge of their financial and tax affairs which makes the whole process efficient and cost effective.

Applying for probate can be a lengthy process for more complicate estates where there is a lot of information to be gathered in valuing the Estate, therefore already having some of this information to hand helps keep this to a minimum. It is estimated that obtaining Grant of Probate/Letters of Administration will usually take 6-12 months.

All our fees are based on time spent, unlike some banks and solicitors we do not charge a percentage of the value of the estate. We generally find this works out cheaper for our clients. Our charge out rates are £120 per hour for probate practitioners and £40 per hour for administrative support. We do not charge any fees until the process has been completed. All fees are +VAT at the standard rate and exclude any court fees applicable to the application which are recharged at cost.

Fees for Probate work

We are keen for our potential clients to obtain best value for money & to be able to budget when they are looking for Probate services.

At Walter Dawson & Son we offer two types of Probate

1 Obtaining Grant of Probate

2 Full administration

Obtaining Grant of Probate

This service is used by individuals who are named as an executor of a deceased’s estate and wish to administer the Estate themselves.

The process involves:

  • Taking instruction
  • Advising on the will and codicils
  • Obtaining details and valuations of assets and liabilities
  • Meetings to discuss and review matters
  • Completing the Probate Application and Inheritance Tax Forms
  • Obtaining the Grant of Probate/Letters of Administration

When obtaining Grant of Probate/Letters of Administration, we calculate fees on a time spent basis. Our fees vary dependent upon the size and complexity of an estate. Complexity is not always linked to the value of the estate as sometimes a small but complex Estate can be more time consuming to resolve than a large straightforward one.

On average we estimate obtaining the Grant of Probate/Letters of Administration will cost from £1,000 to £2,000 + Vat at the standard rate (currently 20%) and disbursements.

Full Administration

WE understand that following the loss of a loved one you don’t need the added complication of dealing with the complexities of administering and distributing an estate. In addition to Obtaining the Grant of Probate as above we can also administer the estate on behalf of the executors. The additional services include

  • Administering the estate, collecting in the assets and paying debts and taxes
  • Opening an executors bank account to administer the estate
  • Preparing estate accounts
  • Distributing the assets to the beneficiaries in accordance with the will or intestacy laws if there is no will

On average we estimate for a simple probate (an Estate with one property, one bank account or a number of bank accounts with the same financial institution and one beneficiary, all of which are located in the UK) Obtaining Grant of Probate and Administering the Estate will cost from £1,500 to £2,500 + VAT at the standard rate (currently 20%) and disbursements.

More complex estates (An Estate with one or more properties, multiple bank accounts with different financial institutions, an investment portfolio, business interests and multiple beneficiaries all of which are located in the UK) Obtaining Grant of Probate and Administering the Estate will cost from £2,500 to £7,500 + VAT at the standard rate (currently 20%) and disbursements.

We will be happy to prepare a more accurate quote based on an individuals circumstances once the complexity of the estate has been determined.

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