Can I Get a Fixed Price Probate Fee?
29 January 2016
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 03306069584 or contact us online and we will help you.
At Co-op Legal Services we base our fixed price Probate fee on the complexity of the work involved to complete the Probate process. 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%.
With our Probate Complete Service we take full responsibility for getting Grant of Probate and dealing with the Legal, Tax (excl VAT), Property and Estate Administration affairs.
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 may give some initial 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.
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.
One of the benefits of using our Probate Complete 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.*
Co-op Legal Services is the largest provider of Probate and Estate Administration services in England and Wales, trusted to deal with over £1.3 billion in Estates annually.
Our Probate team includes over 170 staff of specialist Probate Solicitors, Lawyers, Case Handlers, Advisors and our national network of Probate Consultants; all of whom only deal with Probate.
* Providing that the Estate owns assets 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.