Estate administration

Aaron handles the whole estate

Full estate administration means Aaron deals with the whole of probate from start to finish, so you do not have to. It covers valuing the estate, the tax return, the grant, collecting in the assets, paying debts and tax, the final accounts and distribution.

It is the right choice when there are several beneficiaries, tax to pay, or simply when you want a solicitor to be responsible for getting it right. Where there is a property to deal with, a full inheritance tax account or no will, the estate administration with a property service applies.

A simple estate of cash assets takes about 6 to 9 months. Aaron gives you a realistic timescale at the start and tells you what is happening at each stage.

Who this is for

• Executors who want a solicitor to handle the whole process
• Estates with several accounts, several beneficiaries or tax to pay
• Families dealing with a trust in the will or a disagreement
• Executors who do not have the time, the confidence or the proximity to do it themselves
• Anyone who wants to know it has been done properly, because executors are personally liable for mistakes

How the fixed fee works

Aaron never charges by the hour or as a percentage of the estate. The fee is fixed and built up from the work the estate actually needs:

1. A free 15-minute call. Aaron learns about the estate.
2. A written fixed-fee quote based on the work involved.
3. You approve the fee before any work begins.

If the work takes longer than expected, that is Aaron's responsibility, not yours.

What affects the fee

Every estate is different. Aaron will say which of the following apply to yours on the free call.

Included in every quote:

• Valuing cash assets (bank accounts, ISAs, National Savings)
• Preparing and submitting the probate application
• Reporting the estate figures for an excepted estate (one that does not need a full inheritance tax account)
• Collecting in the assets and paying straightforward debts
• Preparing the estate accounts and distributing to the beneficiaries

What raises the fee:

• A property: managing the property (insurance, valuation, utilities, clearance) until it is sold or transferred. This is the estate administration with a property service, which has a higher starting fee.
• The number of institutions: each bank, building society, insurer and pension provider needs its own correspondence, valuation and collection
• The number of beneficiaries: more identity checks, bankruptcy searches, payments and more detailed accounts
• The number of debts: loans, credit cards and utility accounts each have to be identified, checked and settled before distribution
• Shareholdings: especially paper share certificates, which have to be sold or transferred through each registrar
• The full IHT400 account: needed when the estate is not an excepted estate. This falls under the estate administration with a property or full tax account service, which has a higher starting fee.
• Inheritance tax to pay: Aaron calculates the tax, arranges payment and settles with HMRC
• A trust in the will: Aaron registers it with HMRC's Trust Registration Service
• The deceased's final tax return: filing the last self-assessment return with HMRC
• Foreign assets: assets outside England and Wales, needing overseas institutions or advisers
• Business interests: a company, partnership or sole trade needing valuation and administration
• No will (intestacy): extra steps to identify and verify who is entitled. This falls under the estate administration with a property, a full tax account or no will service.
• A missing will or missing beneficiaries: if the original will cannot be found or beneficiaries have to be traced
• A DWP investigation: for example, where the Department for Work and Pensions checks whether benefits were correctly claimed

Worked example: a simple estate

A valid will, one executor, two beneficiaries, cash in two or three bank accounts or ISAs, no property, no inheritance tax to pay.

Legal fee: The starting fee for this service, plus VAT at 20 percent. Aaron publishes every fee, with VAT, on the fees page.

Disbursements: About £546: the £526 probate application fee, bankruptcy searches at £7.20 for each of the two beneficiaries and three copies of the grant at £2 each.

Worked example: an estate with a property

A valid will, one executor, four beneficiaries, one house to sell, accounts with five or more institutions, an excepted estate, no inheritance tax to pay.

Legal fee: The starting fee for the estate administration with a property service. The higher fee reflects managing the sale, dealing with more institutions and paying more beneficiaries.

Worked example: a complex estate

More than one property, share portfolios including paper certificates, a full IHT400 account, inheritance tax to pay, a trust in the will and six or more beneficiaries.

Legal fee: Quoted after Aaron has assessed the estate. Each extra element is agreed as a further fixed amount before the work starts.

Aaron always gives you the fee in writing before you commit.

What Aaron does

• Values the estate: contacting banks, insurers, pension providers and HMRC
• Prepares and submits the probate application and the inheritance tax return
• Collects in the assets once the grant is issued
• Pays the debts, taxes and expenses
• Distributes the estate to the beneficiaries in line with the will
• Provides full estate accounts to the beneficiaries

What is not included

• Conveyancing: the legal work of selling or transferring a property is a separate instruction
• Third-party valuations: surveyors, business valuers and agricultural valuers charge their own fees
• House clearance: clearance companies charge their own fees
• Deeds of variation: if a beneficiary wants to redirect their inheritance, at its own fixed fee
• Section 27 notices: advertising for unknown creditors to protect the executors. Aaron recommends them. The cost is about £250, paid to the London Gazette and a local newspaper.
• Disputes between beneficiaries or executors, or claims against the estate

The estate may need none of these. Aaron will say what applies on the free call.

What happens if you do nothing

Executors are personally liable for administering the estate properly. Distributing before the debts are paid, missing a creditor, paying a bankrupt beneficiary directly or filing the wrong tax return can leave the executor paying out of their own pocket. Having a solicitor do it protects you.

Why Safe Harbour

• Aaron handles your matter from start to finish. It is never passed to a junior or a paralegal.
• Fixed fees, never hourly rates or a percentage of the estate
• Regulated by the Solicitors Regulation Authority, with professional indemnity insurance.
• Home visits across Bridlington and East Yorkshire. Aaron comes to you.
• Plain English, and a pace that suits you
• You are told what is happening at every stage

You may also need

• Estate and tax planning: if the estate raises inheritance tax questions for the beneficiaries
• A will: beneficiaries and executors often want to update their own wills after an inheritance, especially if their estate is now over the allowances
• Grant only probate: if you would rather do the administration yourself and just need the grant