Wills and Probate Solicitors
Planning for the future can be daunting, but it’s essential for securing peace of mind for you and your loved ones. At Ally Randall Solicitors in Northwood, we provide qualified support in wills and probate matters, ensuring your wishes are honoured and your estate is managed smoothly. We cover a wide area that includes Pinner, Rickmansworth, Watford and Harrow.
Wills and Codicils
Our team specialises in drafting Wills and Codicils to ensure your assets are distributed according to your wishes. A well-crafted Will helps:
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Appoint guardians for minors.
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Set up trusts for long-term asset management.
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Prevent disputes and delays in the distribution of your Estate.
Review your Will:
We recommend reviewing your Will every 3 to 5 years or after significant life events to ensure it reflects your current wishes and accounts for any legal changes.
Estate Administration (Probate):
Probate is the legal process of administering a deceased person’s estate, including the payment of Inheritance Tax and distribution of assets, whether or not a Will exists. Our specialist team provides comprehensive legal support to guide Executors and Beneficiaries through the Probate process, including:
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Verifying the existence and validity of a Will.
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Investigating the deceased's assets and liabilities.
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Completing applications for Grant of Probate or Letters of Administration.
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Assisting with Inheritance Tax calculations and payments.
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Preparing Estate accounts and distributing assets to Beneficiaries.
Key Steps in the Probate Process
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Will Verification: Determine if there is a valid Will.
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Asset & Liability Assessment: Identify and assess assets, including joint holdings and overseas properties.
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Application: Complete the necessary paperwork for Grant of Probate and any tax liabilities.
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Post-Grant Administration: Manage the sale of assets, pay liabilities, and settle any Inheritance Tax.
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Beneficiary Communication: Prepare accounts and distribute the estate.
Cost Structure
Probate Fees:
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Non-Taxable Estate (IHT205): £900 – £3,000 plus VAT
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Taxable Estate (IHT400): £2,400 – £6,000 plus VAT
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Administration Fees: 0.75% – 2.5% of the Gross Estate Value (minimum fee £1,500), plus an hourly rate of £120 – £350 (+ VAT).
Disbursements:
These are costs payable to third parties, including:
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Probate Court Fee: £273 (plus £1.50 per additional copy)
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Bankruptcy Land Charges Department Searches: £2 per Beneficiary
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Notices in The London Gazette: £80
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Local Newspaper Notices: £120 - £200 (varies)
Timeframe:
Obtaining a Grant of Probate can take 3 to 6 months, with the overall process potentially lasting 6 to 24 months, depending on the estate's complexity.
For a consultation with one of our Wills and Probate solicitors, enquire now on 020 8152 8737 or fill out our contact form to get started