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Probate Service

‘Probate’ is the legal authority given to a person or persons that enables them to administer a deceased person’s estate.

Following the death of a loved one, notifying the relevant parties and dealing with the deceased’s estate is frequently the last thing you want to do. This can be a complicated and very time-consuming process. It is therefore quite normal to appoint an ‘executor’ to undertake these uncomfortable and sometimes quite harrowing tasks on your behalf.

There are 5 main stages to the administration of an estate:

I. establish what the deceased owned in his or her own name
II. establish whether there are any debts on the estate, such as credit card bills, utility bills, tax liabilities, etc.
III. apply for a ‘Grant of Probate’, where required, which is necessary in order to move money around
IV. Settle any debts and pay any taxes due
V. Distribute the net assets according to the wishes in the Will

One can appoint a trusted friend or family member to carry out or ‘execute’ the probate, or alternatively choose a professional party to do this for you. Typically, professional executors are solicitors, accountants or banks and they would normally charge a fixed percentage of the value of the estate as their fee. This fee would typically be in the region of 2% - 4%.

Cavendish Brooke Estate Planning offers a professional probate service and we have adopted a fresh approach to charges by offering a fixed fee service which can be agreed at outset. Our fees are based upon the amount of work involved in administering your estate and not solely on the value. Therefore, a simple estate will cost less to administer than a complicated estate, irrespective of the value.

For those of you who are also clients of Cavendish Brooke Financial Management, with your authority we can also involve your financial adviser as you already have a trusted relationship with that person and they have frequently been involved in the creation of your estate over the years. Their advice and assistance can often prove invaluable.

The products and services promoted here are not part of the Openwork offering and are offered in our own right. Openwork accept no responsibility for this aspect of our business. Will Writing is not regulated by the Financial Conduct Authority.