Probate & estate administration

We Provide a Personal Service at a Difficult Time.

We know all too well that applying for Probate and dealing with Estate Administration can be an emotional ordeal after the loss of a loved one. The process is often lengthy, and it can be difficult to navigate without the help of experienced professionals.

If you have recently suffered a bereavement and you think you might need help, then please get in touch with our team of Probate Accountants.

If you are starting to think about Inheritance Tax planning, wills or trusts for yourself, then it may also be useful to think about who will help your loved ones with Estate Administration after your death.

Applying for Probate

A ‘Grant of Probate’ is a document that gives executors legal authority to administer the deceased’s estate. An application must be sent to Her Majesty’s Courts and Tribunals Service, along with the original will, in order to obtain the grant.

There is a long list of duties that must be carried out before you can even submit your application. You may have to:

• Register the death and obtain official copies of the death certificate
• Locate the most up to date version of the will and ensure its validity
• Identify and contact beneficiaries
• Notify organisations such as banks and building societies
• Place a deceased’s estate notice
• Compile details and valuations of assets and liabilities
• Identify any gifts made in the 7 years before death
• Identify sources of income or capital gains
• Submit any outstanding self-assessments
• Prepare and submit an Inheritance Tax return and supplementary forms
• Arrange for payment of Inheritance Tax
• Communicate with HMRC and HMCTS

After the Probate application has been submitted, executors and beneficiaries can expect to wait around 8-12 weeks to obtain the grant. Next steps might include:

• Settling liabilities
• Realising and distributing assets
• Preparing estate accounts

Levels of Service

You may want us to deal with every aspect of the Probate application and Estate Administration process from start to finish or you may just need help with ad-hoc tasks.

Please get in touch with one of our experts to discuss your situation.

Complimentary Services

With our expertise in Inheritance Tax (IHT) Planning and Wealth Management, our team of Accountants can offer far more value than competing options. We are a ‘full service’ firm, so we are most valuable to our clients when we deal with all aspects of their financial affairs.

If the deceased was an existing client in their lifetime, then our knowledge of their financial affairs can make the Probate process a whole lot smoother.

In addition to tax planning, we are able to also assist with Will Storage & Will Searches.

Fully Regulated and Licenced Team of Probate Specialists

Nichols & Co are licenced by the Institute of Chartered Accountants in England & Wales to carry out the reserved legal activity of non-contentious probate in England and Wales. View details of our probate accreditation at icaew.com/probate under reference number C009237306. Accredited probate firm name – Nichols & Co (Accountancy) Ltd. The probate regulations can be found at icaew.com/regulations. View our diversity statistics.

What is our range of fees?  

The cost of probate work depends on the complexity of the required work and the size of the estate. 

• Simple estate: £9000 plus VAT.  
• Medium estate: £15,000 plus VAT.  
• Complex estate: £25,000 plus VAT.  

What do these fees include?  

1. Making initial inquiries to establish the value of the estate assets and collate details of liabilities  
2. Dealing with the inland revenue in relation to the inheritance tax position.  
3. Drafting the paperwork required to apply for a grant of probate.  
4. Throughout the process, I engage with the executive to clarify all probate and tax-related issues and coordinate the signing of necessary documents.  
5. Advising the executors on their personal liabilities and taking steps to mitigate their exposure to risk  
6. Applying to the probate registry for grant of probate or letters of administration  
7. Dealing with the income tax position up to the date of death  
8. Dealing with any income tax arising during the administration period.  
9. Assisting with the distribution according to the will.  

Key stages and expected timescales  

1. Assessment: We start by assessing the estate, gathering all necessary documents and information. 
2. Inheritance Tax: We complete the inheritance tax submission and inform the executors of the necessary tax payments. 
3. Application: We apply for a grant of probate/letters of administration, giving the personal representatives the authority to manage the estate.  
4. Administration: We assist the executor with estate management, asset valuation, and closure. 
5. Finalisation: We prepare a final account of the estate administration, distribute the final assets, and close the estate.  

 Expected time scales  

• Simple estate: 6 months  
• Medium estate: 1 year  
• Complex estate: 1 year plus.  

Complaints procedure   

If you’d like to talk to us about how we can improve our service to you, or if you’re unhappy with the service you’re receiving, please contact Steve Nichols. We will carefully consider any complaint you may have about our probate services as soon as we receive it, and we will do everything we can to resolve the issue. We will acknowledge your complaint within five business days of its receipt and endeavour to deal with it within eight weeks. Please submit any complaints to us via letter. 

If we do not deal with it within this time frame or you are unhappy with the response we give you, you may file a complaint with our professional body, the Institute of Chartered Accountants in England and Wales, and the legal ombudsman. You should submit your complaints to the legal ombudsman within six years of the act or omission, within three years of your awareness of the issue, and within six months of our written response to your complaint. You can reach the Legal Ombudsman through the following contact details: 

Letter: The Legal Ombudsman, PO Box 6806, Wolverhampton, WV1 9WJ
Email: [email protected]
Telephone: 0300 555 0333  

Compensation scheme  

In the unlikely event that we cannot meet our obligations to you, you may be able to seek a grant from the ICAEW’s Compensation Scheme. Generally, you must apply for a grant to ICAEW within 12 months of becoming aware of, or reasonably ought to have been aware of, the loss. On the ICAEW’s website, www.ICAEW.com/probate, you can find more details about the scheme and the conditions under which grants are available.