Yes you can get a fixed price Probate fee but how the fixed price is calculated depends on a number of factors. For a free, fixed price Probate quotation call 01618558359 or contact us online.
At Co-op Legal Services we base our fixed price Probate fee on the value of the estate, and also on the complexity of the work involved. Unlike some other Probate providers, we do not charge a percentage of the value of the deceased person's estate, which can be as high as 6%.
Prices for our Complete Probate Service start from £1,780 including VAT plus disbursement costs**.
If you have been named as an executor in a Will, you should first check whether Probate is required. This depends on whether the estate contains property, land or some types of shares or investments. If none of these apply, then whether or not Probate is needed will usually depend on the value of the estate.
Each financial organisation holding funds on behalf of the deceased has its own rules about how much an estate, or the value of the funds, are worth before they need Probate. Some have £5,000 as a maximum and others will release up to around £50,000 before requiring Probate. Therefore, your starting point in the Probate process will be to determine if Probate is required.
Once you have determined that Probate is required, you need to decide if you will carry out the Probate process yourself or if you will appoint a Solicitor to complete Probate for you. There are pros and cons to both of these decisions and there is, in fact, some middle ground where you can buy a Do-It-Yourself Probate kit that gives you some initial legal advice about administering the estate and the tools and the forms to complete Probate yourself.
Firstly, let's look at completing the Probate process yourself. There is the obvious benefit of saving money on legal fees if you complete Probate without assistance, however this can often be the only benefit. The drawbacks of completing Probate without professional help are:
It can take anywhere from 70 to 100 hours of detailed administrative work to complete Probate and administer the estate. This is a significant amount of time, especially if you work full time and have a family.It can take up to a year or more to complete Probate – the commitment of a year of your life is a big investment of your time.You will usually have no legal help or assistance with any questions or queries that come up.You can be held legally responsible and financially liable for any mistakes or errors made.
Probate can be a complex process and if you do find that you are unsure about how to proceed, perhaps the best course of action is to ask for expert legal help.
The middle ground between going it alone and asking a Probate Solicitor to complete the work for you is a DIY Probate Kit. Using our DIY Self Service Probate Kit provides a fixed fee for Probate. This option comes with some initial legal advice from a Probate Expert when you purchase the DIY Probate Kit and the kit itself provides you with all the forms you require and useful templates to utilise when sending letters or producing accounts, but there is no legal support after you buy our DIY Probate pack because this is a do-it-yourself product.
At Co-op Legal Services our DIY Probate Kit costs a fixed price of £298.80 including VAT. The advantage of buying our DIY Probate Kit is that if at any time you decide you want our Probate specialists to complete Probate for you, we will deduct the price paid for DIY Probate Kit from the fixed fee price of our Complete Probate Service.
This allows you to try to complete Probate yourself, but allows you to re-coup that money against a Complete Probate Service from Co-op Legal Services.
Some law firms will offer a fixed fee service for Probate, but it is important to not only consider the fee you are paying, but also the service and benefits they are offering.
Some of the benefits of using our Complete Probate Service is that we will base our fixed fee quotation not only on the value of the estate, but also on its complexity. In addition, we can arrange a loan to pay any Inheritance Tax (IHT) due* and arrange to pay a Co-op Funeralcare invoice.*
These are only a few of the reasons why Co-op Legal Services are one of the largest providers of Probate Services in England and Wales and why our Probate Solicitors, Consultants, Case Handlers and Advisors are trusted to deal with £500 million in estates each year.
To find out more about your Probate options and how we can help you, call our Probate Advisory team on 01618558359 or contact us online and we will call you.
* Providing that there are assets from the estate that can be liquidated. The cost of a Co-op Funeralcare funeral would be reclaimed from the estate providing that there are assets from the estate that can be liquidated.
** In order to carry out our Probate and Estate Management services more often than not we have to appoint third party organisations to provide specialist services. The costs of these services are disbursements of the estate and will be charged in addition to the fixed fee. All fees and disbursement costs that are able to be identified will be detailed on the written quote that we provide before any work starts.
Once we have provided you with a written quote for the agreed work to be done, that price will not change unless the original information we are given is shown to be incorrect or circumstances change.