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A bereavement is always difficult to deal with and at Ilett and Clark we aim to remove the administrative burden and the stress from you.
Even when everything appears to be in good order, it can come as a surprise as to just how much needs to be done or how complicated seemingly simple things can be. Even identifying the assets and liabilities may be difficult, never mind the more complicated areas of tax and the application to court for a grant of probate.
We can help you with:
We offer a prompt, comprehensive, cost effective and professional service to make you comfortable.
This usually takes between 6 and 12 months, though there are factors that can accelerate or delay the process. In most cases we will take between 20 and 40 hours of work at £200 - £230 per hour to complete the work. In addition we will charge a value element to reflect the importance of the matter and consequently the responsibility of the firm, which will be charged at 1.0% of the financial assets of the estate (1.5% if we have the added responsibility of having been appointed as the executors), and 0.5% of the value of any land and buildings (0.75% if we have the added responsibility of having been appointed as the executors). These rates do not include VAT, which will be added to costs. As a rough guide, a full administration can cost between £3,200 - £6,400 +VAT.
Fewer assets and beneficiaries mean costs will be at the lower end of the range. Multiple beneficiaries and high value or complex assets mean the cost will increase.
In most cases our costs are less than 1.5% of the value of the estate overall but for a complex or high value case our costs can approach and even exceed 3%. This only applies to non-contentious matters where there are no claims against the estate.
Please don’t be unduly concerned – the charging structure was laid down by a Court in the case of Re Jemma Trust and we will always require your agreement and authorisation to proceed before a cost variation of more than 10% of the total is incurred.
There will be sums payable by the estate to third parties. These are referred to as disbursements and we will pay these for you.
They may include:
Please note that if there is no will or the estate consists of any share holdings (stocks and bonds) there are likely to be additional disbursements that vary significantly - We can give you a more accurate quote once we have more information.