Q: Do I need Probate?
A: If the deceased left assets in their sole name with a total value of more than £5,000 then you will usually need to obtain a Grant of Probate or ‘Letters of Administration’ if the deceased died without leaving a Will.
Q: What is probate & why is it needed?
A: Before the assets of the deceased can be distributed to beneficiaries, the Executor must apply to the High Court for a ‘Grant of Probate’. This is a legal document that the Executor needs in order to deal with assets such as bank accounts, investment, property etc.
Q: What are letters of administration?
A: If someone dies without a Will (i.e. dies intestate) then letters of administration will need to be obtained by the next of kin before the assets of the estate can be distributed.
Q: Can I obtain a Grant of Probate myself?
A: Yes. Unless the estate is complicated it is perfectly possible to handle probate yourself without a solicitor.
Q: When should I use a solicitor?
A: If there is foreign property involved, if there is a dispute, if the estate is insufficient to pay all of the debts or if the deceased owned a business.
Q: How much does probate cost through a solicitor?
A: Expect to pay at least £2,500 – £3,500 + VAT for an average sized straightforward estate. Solicitors will usually charge an hourly rate typically £150-£300 per hour plus a responsibility fee typically 0.5% to 1.5% of the value of the estate. Because they charge on an hourly basis solicitors have an incentive to make the work last as long as possible. Banks charge a percentage of the estate typically 4%.
Q: Why should I buy your DIY Probate Pack?
A: 1. It will save you at least 30 hours of your time. Everything you need to obtain probate & deal with the estate is available at your fingertips. All the hard work has already been done for you. You will obtain probate in less time than it would otherwise take you.
2. You will have greater peace of mind. The pack is a proven time tested way of obtaining probate quickly & easily. AND You get unlimited support through our free telephone helpline.
3. It will help you avoid making any costly and embarrassing errors. If you decide to go it alone without any help or support you are increasing the risk of making mistakes.
4. It will save you money. You will not have to spend a fortune on unnecessary and expensive solicitor’s fees.
Q: How long does probate take?
A: By using our DIY Probate Pack – between 8-12 weeks on average. It depends whether there are any delays caused by 3rd parties such as asset holders or creditors who are slow to reply to correspondence & how complex the deceased’s financial affairs are.
Without the DIY Probate Pack it would take considerably longer, around 16-20 weeks, as you will have to do all the research & draft all the letters etc yourself without any help.