Tel: 020 7243 8888
Fax: +44 (0)207 221 8802
Wills and Probate
Why do you need a will?
Do you have an up-to-date will? It gives you control in ensuring that all your money, possessions and property are distributed in accordance with your wishes upon your death. Preparing a will is important to unmarried couples as, under the rules of intestacy, your partner is not automatically entitled to any share of your estate.
Estate administration
The loss of a loved one is a stressful and upsetting time. Our solicitors are on hand to provide you with clear advice in relation to the administration of the deceased’s estate. It is the responsibility of the executor or administrator of the estate to ensure that the liabilities of the estate are settled and the assets are distributed in accordance with the deceased’s will or the rules of intestacy in the absence of a will.
Property services
Our solicitors strive to make the process as simple as possible. We can assist the executor in obtaining the grant of probate
or, in the absence of a will, the letters of administration, which provide the authority for specific person(s) to deal with the estate, as well as ensuring all the necessary formalities are complied with.
We can also assist you with the related conveyancing
matters such as transfer or sale of the property. An important consideration is the potential inheritance tax liability
owed by the estate. At Nadine Wong and Co Solicitors, we evaluate the assets and liabilities of the estate in order to advise on the tax that may be payable and the possible exemptions that the estate may be able to utilise. By making a will, you can consider and hopefully minimize the tax implications regarding your estate.
Lasting power of attorney
A power of attorney is used for decisions regarding health and welfare
or property and financial affairs.
Often they are used by the elderly to ensure that such authority begins when the individual is unable to make decisions on their own. In addition to will writing, we can also help you register a power of attorney in Queensway.
Contact us
for assistance.
Civil litigation advice
Are you making or defending a claim for civil litigation? Our team has the necessary experience and expertise to offer you advice and assistance, whether it is negotiating on your behalf or issuing or defending proceedings at court. We specialise in property litigation and contractual disputes. We'll guide you every step of the way.
Lasting Powers of Attorney
This is a legal documents which allows you (the donor) to formally appoint one or more people (attorneys) to help you make decisions or to make decisions on your behalf.
There are two types of LPA :
1. Property and Financial Affairs
2. Health and Welfare
Our fees to prepare LPAs start from £500 + VAT for one LPA or £900 + VAT for both types of LPA.
For clients with limited command of English, we offer interpretation in Chinese. Fees start from £600 + VAT for one LPA or £1100 + VAT for both types of LPA.
Disbursements to be paid are £82 to register each LPA for Office of the Public Guardian Fees and £35 for a certified copy.
Probate
What work we do
Led by our Principal, Ms Nadine Wong, our private client team has extensive experience with the administration of estates and probate matters, straightforward and complex, since 1991.
Our fees for Probate cases
We strive to be transparent with our clients and their fees. We cannot always anticipate matters that will complicate the case, but we will inform you in due course if there is an increase in costs. We will not give a final estimate of our fees until we are aware of all of the details of the matter.
Our charges are based upon the fee earner’s time spent on your matter at an hourly rate. We cannot out rightly state the length of time it may take for the administration of an estate, as it is largely dependent on the complexity of the case and a client’s individual circumstances. Therefore, the figures stated below are an estimate of the costs client is likely to incur in instructing us all the way through to the end of the retainer.
Our hourly rates as at November 2020 are:
| Principal | £275 per hour plus VAT |
|---|---|
| Solicitor | £195 per hour plus VAT |
| Trainee / Paralegal | £165 per hour plus VAT |
GROUP 1 ESTATE: STRAIGHTFORWARD NON-CONTENTIOUS ESTATE
These fees are based on the administration of a straight-forward non-contentious estate where all assets are based in England and Wales, grant of probate and distribution of the assets.
The estimated total of costs for this estate is between £5,000 to £11,000 (plus VAT and disbursements).
A straightforward Estate will usually entail a valid Will and only two beneficiaries: the spouse and adult child of the deceased.
Grant of Probate is required to access some of the assets owned solely by the deceased such as a substantive ISA and two bank accounts. There is no inheritance tax payable and the Executors do not need to submit a full account to HMRC.
GROUP 2 ESTATE: COMPLEX NON-CONTENTIOUS ESTATE
These fees are based on the administration of a complex non-contentious estate where all assets are based in England and Wales, inheritance tax is payable, and there are a high number of assets to be identified, collected and distributed.
An example of a complex estate would be where the deceased died without a will, therefore the intestacy rules will apply. They left a spouse, two young children and an adult child. The deceased made a substantial gift to their child 4 years before they died.
The estate is valued at over 3 million pounds and includes an extensive share portfolio, from which several key documents are missing. A full IHT account will need to be submitted to HMRC. The deceased was born in China but had lived in England for most of their life and the executors are concerned about the tax implication of this.
The work we do in relation to a complex estate will include all the work done for a straight forward estate and in addition:
| Pre-grant | Advising on the taxation implications of life time gifts for the estate |
|---|---|
| Advising on the intestacy position | |
| Obtaining specialist property valuations | |
| Providing valuations for the multiple bank accounts, shares and properties owned by the deceased | |
| Advising on the availability of specific inheritance tax reliefs | |
| Arranging for the payment of inheritance tax and advising the client on the instalment option if available | |
| Post-grant | Repaying administrator’s expenses and other administrative tasks |
| Contacting each beneficiary for bank information, distributing funds and assisting with tax forms | |
| Tax clearance issues with HMRC | |
| Assigning assets as required and advising on the capital gains tax consequences of not doing so | |
| Completion of tax compliance forms for trusts within the estate |
The estimated costs for these estates start at £10,000 (plus VAT and disbursements) and vary upwards depending on the individual nuances of the case. We will agree this at the outset of the case.
GROUP 3 ESTATE: COMPLEX NON-CONTENTIOUS ESTATE WITH OVERSEAS ASSETS
We have extensive expertise in advising clients on international estates. As they are usually complex, we request that you contact us for a bespoke quote for our legal fees. Our work for international estates usually entails the deceased having numerous of foreign assets reserved for the intended beneficiaries without provisions for the spouse. As well as interests held in several businesses with wills applicable to different jurisdictions.
Tax status and the implications of this for their estate must also be addressed.
- Factors that may affect the cost:
- Advice in relation to overseas assets and overseas grants (we may instruct overseas agent where needed e.g. 1. to reseal the grant of probate issued by the High Court of England and Wales in another country 2. To reseal a foreign grant in the High Court of England and Wales)
- Protracted advice in relation to significant lifetime gifts
- Advice in relation to contentious matters
- Complex valuation issues
- Dealing with the sale or transfer of a property in an Estate (fees for the sale of a property will be in line with our conveyancing fees
- Detailed advice on access to the deceased’s digital assets including access to the assets and their disposal
- Drafting any additional documents such as those varying inheritance tax or a power of attorney
- Wider tax advice on capital gains tax or complex inheritance tax reliefs
- Protracted correspondence with HMRC with regard to valuations of taxation issues
- Dealing with any corrective accounts required by HMRC
GROUP 4 ESTATE: COMPLEX AND CONTENTIOUS ESTATE
Due to the complex and varying nature of these Estates, we ask that you contact us for a bespoke quote.
WE DO NOT OFFER CONDITIONAL FEE OR FEES BASED ON NO WIN NO FEE AGREEMENTS
VAT
All of our fees and most disbursements are charged at the current rate of 20%.
Disbursements
Disbursements are costs incurred in the matter that payable to a third party. As the matter progresses, additional disbursements may occur such as court fees. We will inform you in advance when these disbursements occur.
These are likely to include:
| Fee | Costs |
|---|---|
| Probate Fee | £155, £1.50 per additional copy |
| Bankruptcy Search | £2 for each beneficiary |
| Newspaper posts for missing creditors (if necessary) | These vary depending on the newspaper but are generally between £200 -£300 |
| Section 27 Notice | Approximately £90 |
| Land Registry Fee | £3 per entry |
Other less common disbursements may include accountant fees, lost share certificate fees or agent fees for share sales among many others.
Timescale
Although we cannot guarantee the length of time to administer an estate, on average, probate matters for non-taxable estate that are straightforward without complications are dealt within 9 months.
This will include:
- Up to 6 months for obtaining Grant of Probate
- 1-2 months for collecting in the assets
- The distribution normally take up to 2 weeks.
For matters involving taxable estate, on average it will take 12-18 months. This will include
- 6-9 months for obtaining Grant of Probate
- 2-3 months for collecting in the assets.
This process can take longer and is often subject to delay when dealing with HMRC. We will advise you once we have the full circumstances of the case.
For quality legal advice on will writing and estate administration in Queensway,
call Nadine Wong and Co Solicitors
on
020 7243 8888
Fax:
+44 (0)207 221 8802
We are proud members of the ILPA (Immigration Law Practitioners' Association), and are accredited by The Law Society
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