Application for a Grant of Probate Only Combined with Setting up a Property Trust Contained Within a Will
If you choose this option, we will prepare the papers for an application for a Grant of Probate based upon information provided by you (the Personal Representatives), and then hand the estate back to you for completion. This applies to estates where Inheritance Tax is not usually payable and a full HMRC Inheritance Tax account (IHT400) is not required. We will also deal with the necessary formalities for setting up a trust over a property that is contained within the Will (the Property Trust) and register the Trust with HMRC's Trust Registration Service (TRS).
What is included?
- Preparation of the paperwork required to make the application for Probate after details of the assets and liabilities of the estate are supplied by you
- Meeting you to go through and sign all paperwork. This can also be arranged by post or email, if preferred
- Lodging the application with the Probate Registry and paying appropriate Court fees
- Forwarding copies of the grant to you when received
- Advising the trustees of the details of the Property Trust
- Updating the Land Registry title for the property to reflect the Property Trust’s interest
- Registering the Trust with HMRC's Trust Registration Service
What is not included?
- Preparation of any detailed Inheritance Tax account (IHT400)
- Claim for transferable nil rate band inheritance tax relief or residence nil rate band or investigations into the same
- Payment of any Inheritance Tax or other taxes
- Investigations into any assets or liabilities of the estate
- Collection of and distribution of any estate assets
- Payment of any estate liabilities
- Preparation of any estate account
- Searches such as asset searches, bankruptcy searches, creditor notices
- Advice upon Deeds of Variation or interpretation of the Will
- Advice in relation to life policies or outside of the estate
- Ongoing advice or management of the Property Trust
- Maintaining the Trust Register
What does it cost?
This service has a standard fee estimate for our charges of £2100 plus VAT.
The following fees will be in addition:
- Probate Court fees (£273 plus £1.50 per copy grant required)
- Land registry fees for Office Copy Entries (if required) (£3 plus VAT per property)
- Land Registry fees for registration of the Property Trust (from £20 dependent upon the value of the property. Some Land Registry fees may attract VAT).
*All reference to VAT on this page is at the standard rate of 20%
How long will it take?
It is difficult to predict how long the overall process will take as it will depend upon how quickly the information can be provided by you and how quickly the Probate Registry and Land Registry can respond to the application. However, we expect to carry out our work within 6-8 weeks of receiving the papers from you.
In the event that additional work is required for any reason or an unforeseen complexity arises that means that the above pricing structure is no longer appropriate we would advise you of this at the outset, or as the situation arises.