PRICE TRANSPARENCY AND OTHER COMPLIANCE STATEMENTS
Paul Norton and Co Solicitors offer a personalised service to all our clients. We always seek to achieve a price for our services that is fair to you and us depending upon the nature of the transaction.
The Solicitors Regulation Authority regulates us. The Solicitors Regulation Authority requires us to give information about our costs and certain other matters concerning the nature of our retainer with you. Please note that the prices quoted are based on typical costs. You should always telephone or arrange a meeting with us to discuss your particular requirements and provide you with the best estimate of disbursements we can give.
Your work will be undertaken by Paul Norton, the firm’s sole principal. He has been an admitted solicitor since 1994. He, therefore, has the experience to deal with most matters that could arise in a transaction. As a sole principal, Paul Norton has personal responsibility for each of the files being dealt with in the office. He is available to speak to you if you have any concerns about any of the matters you deal with.
The Solicitors Regulation Authority recommends that we indicate how much time Paul Norton spends on each category of work. This is very difficult. Being a small practice, sufficient time is spent on each file to ensure that matters are dealt with as expeditiously as possible. The following members of staff assist Paul Norton:
- Loren– bookkeeper.
- Georgina – Georgina has over 20 years of experience working in a solicitors’ office.
The following sets out the anticipated costs and disbursements in our Probate work. These fees are based on the typical fee we charge. In the event of matters becoming more complex, we will advise you that either the typical fee will not apply at the outset of instructions, or if the matter becomes difficult during our instructions, we will advise you that the fee will need to be adjusted. We will seek to agree on any adjustment in the fee.
Probate
Probate is the process whereby a deceased person’s estate is wound up. It involves applying for a Grant of Probate and then administering the estate. We can assist you in either applying for the Grant of Probate/Letters of Administration if there is no will or completing the whole estate administration.
APPLICATION FOR GRANT ONLY If you wish to instruct us to obtain the Grant of Probate only, our fees are estimated as follows:
An application where there is no Inheritance Tax to Pay to include obtaining Probate figures for all assets and debts, completing IHT 205 and applying for the Grant of Probate £1,200 Plus VAT plus disbursements.
An application where the estate is above the nil rate band of £325,000 but a deceased spouse’s nil rate band can be used to include obtaining Probate figures for all assets and debts, completing IHT 205 and IHT 217 and applying for the Grant of Probate £1500 Plus VAT plus disbursements.
An application where Inheritance Tax is to be paid or a full tax form needs to be completed to include obtaining Probate figures for all assets and debts, completing IHT 400 (full tax form), sending the form to HM Revenue & Customs and applying for Grant of Probate £2010 Plus VAT plus disbursements.
APPLICATION FOR GRANT AND FULL ADMINISTRATION OF ESTATE
Administering an estate involves the following steps:
- Collating papers, completing an assets and debts list
- Writing to Banks, Building Societies, Insurance Companies, Registrars (if shares are held), and all creditors to obtain date of death figures.
- Writing to all known debtors to obtain date of death figures
- Obtaining a valuation of any property owned
- Completing Inheritance tax forms and all documentation needed to apply for a grant of Probate
- Paying Inheritance tax, if any, due After the Grant of Probate has been obtained
- Advertising in the local paper and London Gazette (if required)
- Forwarding Grant of Probate to Banks, Building Societies, Insurance Companies, Registrars and any other relevant parties.
- Obtaining closure forms and requesting monies
- Paying any outstanding Inheritance Tax
- Settling any debts owed by the estate
- Distribution of the estate and final estate accounts.
Our fees for administering the estate are as follows: 2% of the estate’s gross value. All fees are subject to VAT at 20 per cent.
Please note that the above is a statement of the structure upon which we base our fee. However, we always ensure that the fee is reasonable in all circumstances. We ask that you telephone us for an appointment.
The above information follows the Solicitors Regulation Authority’s commitment to price transparency.
Disbursements & Third Party Fees
Obtaining Office Copy Entries relating to property from HM Land Registry £6.00
Probate Court Fees – Application for a Grant of Probate Additional charge for each official copy £273 each additional copy £1.50
Searching for a Will – If there is no will or if you think the deceased wrote a later Will £100 – £200
Estate Agent Valuation or full RICS Valuation Vary
Placing a Statutory Notice in the London Gazette and Local Newspaper (to creditors) to protect executors before distributing the estate £250 (estimate)
Accountants fees – Specialist Tax Advice on Income Tax and/or Capital Gains Tax Vary
How long will Probate take?
We are very much in the hands of third parties as to how long obtaining Probate takes.
It is necessary for us to write to various institutions that hold accounts and obtain valuations of any other assets.
We will discuss with you a likely timeframe when we have more information about the nature of the estate.
- We offer fixed-fee services for most of our work. Ensuring that people on a tight budget obtain quality legal services at a price they can afford.
Divorce and Family Law Cases
- For all new divorce cases, the cost of this initial meeting is £90 inclusive of vat. However, should you then instruct us to proceed with your case this fee will be taken toward the fees in your case.
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