Wills & Probate
The complete legal service
Many of our clients have significant assets, and it is very important to consider how these assets should be passed on to the next generation. At Alan Simpson & Co we have, for many years, been helping individuals realise a two-fold ambition:To protect their wealth and pass their wealth on to the next generation without jeopardising their own financial security.
We specialise particularly in giving advice to elderly clients.
We can help with:
- Wills and related Inheritance Tax Planning
- Probate and Estate Administration
- Trusts Creation and Administration
- Lasting Powers of Attorney
- Care of the Elderly Issues (including care fee concerns)
A Will is something most people have heard of but only few people understand. If you do not make a Will your family or friends may not benefit, but rest assured the taxman almost certainly will.
Whilst advising on the tax efficiency of Wills, we also examine the ways of maximising the use of available tax reliefs, exemptions and allowances, through sound practical advice.
When there has been a family bereavement, there is much to be organised at a very difficult time. We aim to keep the process of Probate work as simple as possible, providing high level professional advice with client care at the forefront of our work.
Establishing a Trust can be an efficient way to deal with the transfer of assets and to reduce tax liabilities. We can advise if a Trust is appropriate for your needs.
Lasting Power of Attorney
A Lasting Power of Attorney, or LPA for short, is a legal document allowing you to appoint a trusted person to be your attorney, who can make decisions on your behalf. There are two types of LPA; heath and welfare and property and finance.
The two different types of LPA grant your attorneys differing powers to make decisions on your behalf. For attorneys with powers under an LPA for health and welfare they are able to make decisions about your ongoing health care treatment when you lack the capacity to do so.
We have many years of understanding and experience in dealing with the needs of clients and would encourage as much forward planning as possible.
We offer a fixed fee for obtaining a grant of representation which ranges from £850 plus VAT to £1,750 plus VAT depending upon the circumstances of the estate.
A full bespoke fee calculation will be provided following an initial interview with a member of our Probate Team.
The fixed fee will include the following work:-
- Identifying the grant of representation required
- Identifying the appropriate executors or administrators
- Receiving and collating the documentation in relation to the assets and liabilities of the estate
- Advising on Inheritance Tax liability (if any)
- Completing the application form and HMRC return
- Draft the legal oath for you to swear
- Submit the application to the Probate Court on your behalf
- Obtain the Grant of Representation and the required number of sealed copies
In addition you will need to pay the following disbursements.
- Probate Court fee - £155.00 plus £1.50 per sealed copy
- Swearing of oath fee - £7.00 for each Executor/Administrator
The Grant of Representation is normally obtained within four weeks of us receiving all the required information and documentation
We can carry out a full administration of the estate on behalf of the personal representatives. We only charge for what we do calculated at an hourly rate of £270.00 plus VAT. There is NO CHARGE by reference to the value of the estate.
Our fees for a full administration normally range between £2,000 and £5,000 plus VAT depending upon the work carried out which is dictated by the nature of the assets and liabilities and the terms of the deceased’s Will or intestacy.
Following our initial interview a more specific estimate can be given.
All of the administration work is carried out by qualified solicitors within the practice.
Lasting Powers of Attorney
Our fee for the preparation completion and registration of a Lasting Power of Attorney is £550 plus VAT together with the registration fee payable to the Office of the Public Guardian in the sum of £82.00.