Probate and Estate Administration

We understand that losing a loved one is a very challenging time. It can often be a daunting process for those appointed as personal representatives, with the worry and stress of administering the estate and ensuring the process is dealt with correctly.

About Us

At Whitings LLP, in addition to our accountancy services, we also specialise in non-contentious probate and estate administration. We are authorised and regulated by the Institute of Chartered Accountants in England and Wales (ICAEW), one of the approved legal services regulators in England and Wales. We provide clear, expert guidance to ease the burden and help you navigate the probate process, with support at every stage.

We have attained accreditation from the ICAEW to undertake the elements of probate work which are a reserved legal activity meaning we are able to offer our clients support throughout the whole probate process by providing a complete and seamless service.

Our Services

Our probate services include:

• Advising the personal representatives on the action required;
• Interpretation of the Will and identifying the beneficiaries;
• Identifying and valuing estate assets and liabilities, including valuation of businesses and shares;
• Advising on the Inheritance Tax liability and reliefs available;
• Assist in the settling of any Inheritance Tax due directly from investments;
• Applying for a Grant of Probate or Letters of Administration;
• Calculation of the Income Tax liability of the estate and reporting this to HMRC;
• Distributing assets to beneficiaries;
• Preparing estate accounts;

We offer these services to executors and administrators of estates across England and Wales. In addition, our partners, named in a personal capacity, can act as Executors within your Will.

The Probate Process at Whitings LLP

The legal, tax and administrative processes involved in dealing with an estate can be complex and add additional strain during an already stressful time. We can offer advice and guidance each step of the way.

While each estate is different, the typical stages of a probate matter include:

1. Initial consultation – to gather details and confirm instructions.
2. Information gathering – identifying estate assets, debts, and beneficiaries.
3. Probate application – submitting the application to the Probate Registry.
4. Estate administration – collecting in assets, settling liabilities, paying tax.
5. Finalisation – distributing the estate and preparing final accounts.

We will explain each stage to you in more detail and keep you updated throughout the process. The services required will vary according to the circumstances of the deceased. In some cases, all that is required is to collate all the necessary information to make the application for probate on behalf of the personal representatives, complete the relevant Inheritance Tax forms and advise on the payment of any tax liability. The personal representatives may then decide to administer the estate themselves.

1. Initial Consultation

We offer a free initial consultation at which we will discuss the services required by the personal representatives and the family of the deceased to ensure we tailor or work to your specific circumstances. As part of this we would need to see a copy of the will, death certificate, understand who the beneficiaries are and have an initial estimate of the assets and liabilities of the estate.

2. Information Gathering

If the deceased was an existing client

Where the deceased was an existing client of the firm, we will already have a detailed understanding of their financial and taxation affairs, business interests and family circumstances giving us a head start in giving the personal representatives the best advice and the most cost-effective service.

If the deceased was not an existing client

We would need full details of the deceased’s estate, such as assets, liabilities, personal circumstances, business interests and family.

3. Probate application

Once all information is gathered we will complete any IHT forms required and submit to HMRC. We will also advise you on paying any IHT liability before the probate application can proceed.

If no IHT forms are necessary the probate application can be made without having to wait for HMRC.

We can also review, and advise, if a deed of variation is appropriate as overall estate planning. Further details on this can be found HERE.

4. Estate administration

The personal representatives can proceed with the administration of the estate themselves once probate is granted. This may include gathering funds, liquidating investments and making distributions to the beneficiaries. We can also help with this if required.

We will assist with the reporting to HMRC of any income tax liability arising on estate income, or capital gains tax on any sale of estate assets. As part of this we would advise on any tax planning opportunities.

5. Finalisation

Preparing estate accounts and ensuring all liabilities have been met before making final distributions to beneficiaries. Ensuring legal transfer of assets are made, we can work closely with solicitors to assist with this.

Timescales for Probate

The probate process can vary in length, depending on the complexity of the estate, but the typical timescales for simple estates are 4 to 6 months, whilst more complex estates can take from 6 months to 12 months or more.

Factors that may affect these timescales include:

• whether Inheritance Tax is payable;
• delays in receiving information from financial institutions;
• time for HMRC to agree a business or property valuation;
• disputes between beneficiaries or third parties; and/or
• the sale of property or overseas assets.

We will keep you informed at regular intervals on progress with the probate application and the administration of the estate, and we will update you on the estimated time required to complete the estate administration.

Fees

We offer a range of flexible pricing options to suit your needs.  All fee arrangements will be confirmed in writing through an engagement letter at the start of your matter. If your matter becomes more complex or time-consuming than initially anticipated, we will always inform you promptly and provide an updated cost estimate before carrying out further work.

Disbursements

Disbursements are costs payable to third parties in connection with your matter. Disbursements added to our fee are detailed in the following table:

VAT is charged on our fees, but not always on disbursements.

Additional Costs

Our charges are based on the time taken and the level of partner, associate or staff required to complete the assignment and our charge out rates are set out in our terms of business. Once we have agreed the scope of our work we will provide you with an estimate of our fees. Where our work proves to be more complex and time consuming than originally envisaged, we will advise you and agree a revised fee estimate as necessary.

For a simple Grant of Probate only our fees will typically range from £2,000 to £5,000 plus VAT depending on the complexity of the estate and the Inheritance Tax forms required.

For a full service dealing with the administration of the estate our fees will range from £3,500 to £10,000 plus VAT but may exceed this for the most complex cases.

Business and share valuation work, and dealing with tax on any sale of any assets, is not included in the fees and will incur a separate charge. We can provide an estimate before undertaking the work involved.

Why Choose a Regulated Provider?

Not all firms that carry out estate administration are regulated. Our regulation means we follow strict rules designed to protect you and to ensure you receive a high-quality, professional service.

This means that we offer the following reassurances:

• We are monitored by ICAEW to ensure we meet professional and ethical standards.
• We comply with ICAEW’s Legal Services Regulations and Code of Ethics.
• We must meet stringent accounting rules to keep client funds secure.
• We maintain professional indemnity insurance (PII) offering protection for our clients in the unlikely event of a professional error.
• You can contact the Legal Ombudsman if something goes wrong and you’re not satisfied with how we handle your complaint.
• You may be able to claim through the ICAEW Probate Compensation Scheme. Details and eligibility are available on ICAEW’s website.

Our ICAEW probate registration number is C009098434

You can verify our registration on the ICAEW probate register HERE https://rls.icaew.com/firms/whitings-llp-c009098434

Meet Our Probate Team

Whitings LLP are licensed to provide Probate Services from our Bury St. Edmunds, Ely and St. Neots offices. Our probate specialists are Nick Edgley, Paul Jefferson and Rob Dedman, who are authorised to provide probate services by ICAEW having attended and passed the Mercia UK Certificate in Probate and Estate Administration or being STEP qualified.

Sheryl Lewis, who has also passed the Mercia UK Certificate in Probate and Estate Administration, assists the above with the probate work.

Where property valuations and legal work are required, we will assist with instructing Chartered Surveyors and solicitors as necessary. For further information please contact us at probate@whitingsllp.co.uk

Whitings LLP is licensed to carry out the reserved legal activity of non-contentious probate in England & Wales by the ICAEW. The Probate register can be accessed at www.icaew.com/probate. The Probate regulations can be accessed at www.icaew.com/regulation/probate-services

Whitings LLP Staff Diversity Questionnaire

Whitings LLP are accredited to perform the reserved legal service of non-contentious probate and are required to collect, report and publish diversity data about their employees.

Whitings LLP Staff Diversity Questionnaire

For information about our charging rates, professional indemnity insurance arrangements, our internal complaints procedure and how to contact the Legal Ombudsman please refer to our terms of business which you can find here.

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