Probate

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When you are grieving it can seem far too difficult to deal with tax and applying for probate (the process of dealing with the instructions left in a will).

Alliotts’ partner Jane Thackstone  and consultant Delia Orme and are qualified to advise you on the whole process. This is as a result of changes to regulations for legal work allowing specially qualified accountants to do this work.

As most of the information needed is a financial exercise (and we as accountants are experienced in gathering financial information, producing valuations, IHT calculations and related tax returns), undertaking probate work is a perfect fit for us.

Apart from her technical expertise, Jane has years of experience in dealing with sensitive matters at difficult times and is able to provide that objective point of view and welcome voice of reason, when things may appear far too complicated, particularly where there may be tricky relationships involved.

Jane offers a flexible service, either taking on the whole probate process on your behalf, or providing essential support and advice to you as and when needed, should you choose to apply for probate yourself.

Throughout the probate process we guarantee that:

• We will explain everything to you in jargon-free, plain English
• You will have personal direct contact with Jane
• You will be kept regularly updated as matters progress
• You will receive a service that is sensitive and responsive to your needs and those of your family

Jane offers a full range of services to support you though the whole probate process, alternatively you may decide that you need support and assistance at specific times.

We can assist you in the following areas:

• Checking that the Will is valid and is the last Will made by the deceased
• Assembling and checking of the deceased’s financial information
• Tracing and valuing assets
• Identifying and paying all debts of the estate
• Calculation of Inheritance Tax, Income Tax, and Capital Gains Tax due
• The preparation and submission of HMRC tax forms
• Tracing missing beneficiaries
• Arranging matters for the sale of property
• Preparing estate accounts showing the final position of the estate with all transactions reconciled to the probate valuations
• The payment of legacies to beneficiaries including charities
• Providing tax advice (IHT, CGT and Income tax) to the executors and beneficiaries helping them plan the structure of their inheritance
• Trust planning and trustee services including advising on Nil Rate Band Trusts
• Administering the estate of a person who died without a Will (intestate)
• Will writing service

Indicative timescales and process

Obtaining Grant of Probate can take anywhere between eight weeks and nine months. Although if there any difficulties encountered with the validity of the Will or valuation of the estate assets, then it should take considerably longer.

Once grant of probate has been received we would assist with realising the value of the estate assets and paying off any liabilities, including all tax liabilities. This stage would take approximately two months, however this would be longer if there are properties to sell.

Interim accounts would then be prepared to show the value achieved (less costs and fees).

Then all specific legacies would be paid out followed by an interim distribution which would normally be made to each of the remaining beneficiaries.

After that a final set of accounts would be prepared including all income and expenditure since date of death, and distributions made to date.

Our final fees agreed with the executors and the balance due to the beneficiaries determined for final distribution.

Transparent fee structure

It is our policy to be transparent in our pricing structure and to agree the basis of our fees with clients in advance of starting work on an assignment.

All probate work is now undertaken via Langdowns Limited, who are also part of the Shaw Gibbs Group.