We understand that losing a loved one is a difficult and challenging time. As well as the emotional stress of losing a loved one, those appointed as ‘personal representatives’ have the added worry of administering the estate.
Although many people instruct a firm of solicitors to carry out this work, as accountants we are often best placed to deal with the financial aspects of probate and estate administration in Bury St Edmunds and beyond.
We build lasting relationships with our clients and clients’ families over the years and many now turn to us as trusted advisors, knowing that we will carry out this important and confidential work with sensitivity and precision.
A personal representative can be held personally liable if the administration of an estate is not dealt with correctly.
We are able to help with a range of non-contentious estate administration services including:
We are able to offer you support and guidance through this process. Our sympathetic and friendly staff can provide assistance throughout the estate administration process in a straightforward and efficient manner.
The timescale for obtaining probate varies depending on the complexity of the estate. As a general guide the process takes between six and twelve months but does depend on matters such as how quickly valuations of assets can be obtained, confirming the validity of the Will and understanding what assets were held by the deceased.
Fees can be charged on either a fixed fee basis or charged on an hourly rate. The cost will vary from case to case depending on matters such as:
To obtain probate for a relatively straight forward estate with a property and a few bank accounts along with some personal belongings would cost £1,500 plus VAT.
Our probate team members hourly rates are as follows:
Probate Director: £148 plus VAT
Tax Assistant: £75 – £100 plus VAT
To enable us to give an indication of the fees payable or to obtain a fixed price quote we offer a free consultation meeting to review the details of the particular estate in question.
Contact us for Probate services in Bury St Edmunds, to arrange a free no obligation consultation to get a quote.
As we are licensed/authorised for the reserved legal activity of non-contentious probate, in the unlikely event that we cannot meet our liabilities to you, you may be able to seek a grant from ICAEW’s Probate Compensation Scheme. Generally, applications for a grant must be made to ICAEW within 12 months of the time you become aware, or reasonably ought to have been aware of the loss. Further information about the scheme and the circumstances in which grants may be made is available on ICAEW’s website www.icaew.com/probate
Details of the firm’s complaints procedure are included in the firm’s client letter of engagement.
If you would like to talk to us about how we can improve our service to you, or if you are unhappy with the service you are receiving, please let us know by contacting James Knights or Kirk Vaughan. We will consider carefully any complaint that you may make about our probate services as soon as we receive it and will do all we can to resolve the issue. We will acknowledge your complaint within five business days of its receipt and endeavour to deal with it within 8 weeks. Any complaint should be submitted to us by letter.
If we do not deal with it within this timescale or you are unhappy with our response you may of course take the matter up with our professional body, the Institute of Chartered Accountants in England and Wales https://www.icaew.com/regulation/complaints-process and the Legal Ombudsman. Complaints to the Legal Ombudsman should be made within six years of the act or omission or within three years of you becoming aware of the issue, and in either case within six months of our written response to your complaint to us. The contact details for the Legal Ombudsman are:
Letter: Legal Ombudsman, PO Box 6806, Wolverhampton, WV1 9WJ
Telephone: 0300 555 033
Knights Lowe Limited is licensed to carry out the reserved legal activity of non-contentious probate in England & Wales by the Institute of Chartered Accountants in England & Wales under the registration number C002550350. The Probate register and can be accessed at icaew.com/probate. The Probate regulations can be accessed at icaew.com/regulations.