Probate
All regulated accountants in the UK are now legally able to provide probate services for all uncontested wills. For our existing clients, we have a detailed knowledge of their financial affairs and are therefore uniquely placed to deal with the collation of information required to complete the probate paperwork.
Why use Towers + Gornall's Probate service?
If we are dealing with the passing of a family member, having an existing relationship can help ease the process compared with having to deal with someone completely new. We recognise of course that at a time of bereavement it is important to deal with people in a caring and sensitive manner. As such it may be a comfort to you to know that as and when required Towers + Gornall are legally regulated, when you need someone you know and trust to deal probate for your family.
Towers + Gornall are licensed by the Institute of Chartered Accountants in England and Wales to carry out the reserved legal activity of non-contentious probate in England and Wales.
Probate Fee Guide
Below we provide estimates of our costs for non-contentious probate cases. We charge on an hourly rate rather than on a percentage of the value of the estate.
Basic probate case
We will prepare the relevant forms for submission to The Probate Registry and obtain a Grant of Probate for the Executors. This will include meeting with the Executors, drafting the relevant forms and submitting these forms with the Probate Registry, and HM Revenue and Customs where necessary. Fees for this service start from £1,750 plus VAT.
This may increase if we need to contact third parties for probate valuations, depending on time spent.
A basic estate would likely include some or all of the following assets:-
- A main residence
- Bank accounts
- ISA investments
- Small number of quoted shareholdings
More complex probate cases
For larger and more complex estates as a best estimate fees can be in the region of £3,000-8,000 plus VAT. Tax advice may also be required. A more complex estate would likely include some or all of the following assets:-
- Investment property
- Bank accounts (jointly or solely owned) ISA investments Investments in a business / farm
- Investments managed by a broker
- Personally held investments
- Trusts
These estates are understandably more complex and will take time to prepare.
Timescales
The extraction of probate can take several months. This is dependent on the size of the estate, the speed at which we obtain information regarding the estate and how quickly queries are answered. For larger estates where Inheritance Tax (IHT) is due, the process can take longer because HMRC need to process and agree the IHT position before the probate forms can be submitted.
Towers and Gornall Ltd.is regulated by the ICAEW for Probate Services Number C007150805. Customer complaints can be directed to Towers and Gornall to be investigated internally in line with our complaints procedure and rectified within three months of a complaint being formally registered in writing. Should a mutually agreed solution not be agreed in writing the I.C.A.E.W. and or the Legal Ombudsman can be contacted by the customer at https://www.legalombudsman.org.uk/contact-us/
Towers + Gornall Ltd is covered by Professional Indemnity Insurance in respect of its probate services to a maximum of £2,000,000. Arrangements of the ICAEW compensation fund can be found at https://www.icaew.com/regulation/probate-services/support-for-probate-accredited-firms/probate-compensation-scheme-regulations
For further information about the scheme, or how to make an application, please email Claire Phillips, the Regulatory Policy Manager, at claire.phillips@icaew.com or call +44 (0)1908 546 307.
