Wills & Probate
You won't be around forever, but what you leave behind could be. At Kathy Webb & Co in Guisborough, we provide a range of services to assist you when it comes to making a will, ensuring peace of mind for you and your loved ones. Rely on our specialists to advise you and guide you through every stage of the process, with special rates available.
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Why Write A Will?
If you don’t make a Will, not only will the law decide who inherits your property but also who should administer your estate. This person may not be someone you would want to handle your estate and, with limited powers, they may be unable to carry out your wishes, as you would have desired.
Your estate may not automatically pass to the people and causes that were important to you during your lifetime and may even pass to people who you never intended to benefit. Even if you are married, living with a partner or have children, it is wrong to assume that they will automatically receive your Estate should you die.
In leaving a will you can ensure a degree of certainty as to what will happen to your property or possessions after your death. You can also appoint guardians for your children and even express your wishes about your funeral plans.
We have a qualified Solicitor who specialises in Wills & Probate, and other Private Client matters, who can provide practical, professional advice from the preparation of a simple Will to providing detailed and technical planning to avoid paying any unnecessary inheritance tax.
Helping You To Arrange Probate
When someone dies, the executors, or administrators of the estate may need to apply for a grant of probate in order to distribute the estate in accordance with the deceased’s wishes.
We can assist you on all aspects of administration of an estate, including the identification of assets and liabilities, payment of any inheritance tax, income tax or capital gains tax which may be owed, and the distribution of the estate, relieving you of the burden whilst ensuring your loved one's wishes are carried out.
Some estates are inevitably more straightforward than others. So that our charges fairly reflect the complexity of a matter, we charge typically according to the time needed to be spent by our professional staff to deal with each matter. We are also happy to work on a fixed fee basis, where the scope of the work can be agreed at the outset.
Our current hourly rates are:
£200 + VAT for Solicitors
Our probate and estate administration work is undertaken by Debra Simpson, a Consultant Solicitor within the practice. Debra has been specialising in estates and probate work for over ten years.
We are always happy to provide estimates of our charges for particular estates, but our typical charges for simple estates are:
Grant only (i.e. no administration): 5 – 10 hours
Grant and administration : 10 - 20 hours
A simple estate would be one with:
a valid Will
a single property
a small number of bank or building society accounts
no other intangible assets/investments
a small number of beneficiaries
no disputes between beneficiaries on the division of assets
no Inheritance Tax payable
no requirement for the executors to submit a full account to HMRC
no claims made against the estate
The exact cost will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property, costs will be at the lower end of the range. If there are multiple beneficiaries, a property and multiple bank accounts, costs will be at the higher end.
Factors that would make an estate one of greater complexity include:
the absence of valid Will
more extensive investments
a larger number of beneficiaries
Inheritance Tax payable
an existing trust
a Will creating a trust
If there is no Will or the estate consists of any share holdings (stocks and bonds) there is likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with. We can give you a more accurate quote once we have more information. Dealing with the sale or transfer of any property in the estate is not included.
Disbursements are costs related to the estate that are payable to third parties, such as probate fees. The most likely disbursements will be:
Probate application fee: £155.00
Copy probates: £1.50p each
Swearing of the oath: typically £7.00 per executor
Statutory advertisements: £250 – £300 + VAT
How long will it take?
On average, simple estates are typically dealt with within 4 - 8 months. Obtaining the grant of probate usually takes 2 - 4 months. Collecting assets then follows, which takes a further 1-2 months. Once this has been done, we can prepare estate accounts and distribute the assets, which normally takes another month.
The death of a loved one is often an extremely distressing and emotional time. Unfortunately, this period can be even more stressful if you have to deal with an estate that is being disputed. When it comes to contested wills and estates, it is important to receive clear, practical advice you can trust.
Whether you have not received ‘reasonable financial provision’ in a loved one’s will, or you are defending a loved one’s will from someone else’s claim, we will be able to provide you with the advice and support that you need.