Have you recently lost a loved one? Chiltern Wills offers a fixed fee probate or estate administration service, working in conjunction with Kings Court Trust to wind up deceased clients’ estates. This will relieve you of the burden of having to deal with a lot of paperwork, at an already difficult time.
What does estate administration involve?
Estate administration is the process of dealing with a person’s legal, financial and personal tax affairs after they have died. It involves far more than just obtaining a Grant of Probate – it means dealing with all of the person’s assets (such as property, shares and personal possessions), paying debts and paying any Inheritance Tax and Income Tax due. Whatever is left in the estate is then transferred to the beneficiaries. Estate administration can be extremely complex and is required after every death, whether or not there is a Will.
In order to complete the estate administration process, there are a number of tasks that need to be carried out, including:
- Notifying beneficiaries and dealing with their questions
- Redirecting mail and cancelling or transferring utilities
- Dealing with any Income Tax liabilities
- Advising on the distribution of assets to avoid or mitigate tax liabilities
- Calculating and paying Inheritance Tax where relevant
- Dealing with specialist legal work
These are just some of the tasks that are involved, and every estate is different. Whilst some people decide to administer an estate themselves, this can take a significant amount of time and effort, and it leaves them personally liable for any mistakes made during the process.
Whether the estate is simple or complex, the issues faced on the death of a loved one are rarely straightforward. That’s why Chiltern Wills has partnered with Kings Court Trust to deliver an estate administration service.
Most people are not used to dealing with the complex requirements of estate administration, especially at a time when financial matters are the last thing on their minds. Kings Court Trust is one of the leading specialist estate administration service providers in the UK. The excellent, cost-effective service that they provide was recently recognised by them winning ‘Probate Provider of the Year (Large Firms)’ at the 2019 British Wills and Probate Awards.
How much does it cost?
Unlike typical solicitors’ firms and banks, Kings Court Trust will not charge you fees based on a percentage of the value of the estate, which can get very costly. Instead, they will give you a fixed price quote for the work up-front, depending on the complexity of the estate and the amount of help that you would like with it. Their average fees range from £2,400 – £5,400 + VAT.
You will have a dedicated case manager who will be your direct point of contact throughout the probate process. You will be able to check online for updates on your case at any time, and will be kept informed as things progress.