A Probate Service designed for estates that are below the Nil Rate Band threshhold so will have no Inheritance Tax due to be paid upon them. The firm will undertake all work including valuing the assets, obtaining any Grant that is necessary, settling any debts due from the estate and distributing the estate once all steps have been completed.
What is included:
Initial interview to advise you on available options
Receiving and reviewing the Death certificate
Receiving and checking the Will (if there is one) and advising you on it
Corresponding with all financial institutions to obtain valuations
Obtaining other valuations on all other assets, including property
Receiving and reviewing all paperwork relating to the assets and liabilities
Preparing form IHT205 and if necessary IHT217 for transferable Nil Rate Band
Preparing Oath for Executor or Oath for Administrator
Apply to the Probate Registry for the Grant of Probate or Letters of Administration
Dealing with any queries from the Probate Registry
Advice on searching for lost assets
Obtaining statutory advertising to protect the Executors
Receiving the Grant of Probate or Letters of Administration
Sending you the Grant of Probate or Letters of Administration
Obtaining clearance from HMRC for the deceased's tax affairs
Preparation of estate accounts
Bankruptcy checks on all beneficiaries
Distribution of the estate
What's not included:
Undertaking a Will search
Other expert fees for example valuers, auctioneers
Court fees and swear fees
Completion of forms where an amount of Inheritance Tax is due (IHT 400 and supporting documents)
Any other issues arising relating to validity of the Will or if Probate is contested
Dealing with the deceased's business
Advice relating to shareholdings or investments
Variation to the estate
Income tax returns to date of death if the deceased was a self assessed tax payer
Identifying beneficiaries to the estate
Administration of estates where the deceased was domiciled abroard or there are foreign assets to administer