Why choose Sutton & Co Solicitors?
- A qualified Solicitor, not a case handler, will handle the matter from start to finish.
- The Solicitor appointed in your matter is a Full Member of The Society for Trusts and Estates Practitioner (STEP) and a Full Accredited Member of The Solicitors for the Elderly (SFE)
- Our fees are deferred and payable once Grant of Probate has been issued
- If instructed on the Administration of the Full Estate our fees are deferred and paid out of the estate.
- If instructed on a Grant only basis we provide Fixed Fees
- If instructed on a Full Estate basis we do not charge a percentage of the estate, as this can, in some cases, be considerably more expensive than basing it on our Solicitors’ competitive hourly rate.
- If instructed on a Full Estate basis the Solicitor will handle all tax affairs which may arise during the administration of an estate
- We are Authorised and Regulated by the Solicitors Regulation Authority
Here at Sutton & Co. Solicitors, we understand that dealing with Probate and a bereavement can be a stressful and difficult time. That’s why our specialist Probate Solicitors are on hand to help you each step of the way to put you at ease.
Our experienced, professional Solicitors can help families and executors to deal with all the legal and financial matters that arise, when someone passes away. At each stage we will work with clients to make the estate administration as easy and straightforward as possible as we know that being a Personal Representative of an estate can be an onerous task.
Level of Services:
We provide 2 levels of service:
1. Grant of Probate Only:
If the estate is a straight forward estate, we can act for executors to obtain Grant of Probate only, allowing the executors to administer the estate.
2. Administering the Full Estate:
We can assist on the administration of the full estate, to include:
- Obtaining Grant of Representation
- Preparing Estate Accounts
- Dealing with income tax and capital gains tax, which may arise during the administration of an estate
- Dealing with property in probate
- Advising on post death tax planning
- Preparing Deed of Variations and Disclaimers
For administering a full estate we do not charge a percentage of the estate as this can in some cases be more expensive than basing it on our hourly rate. Therefore, our charges for administering an estate is based on a competitive hourly rate, an estimated cost of which will be provided by your legal advisor after your first meeting with us.
What happens if there is no Will?
Where a deceased did not leave a Will, we can also advise family members of the statutory legal order in which an estate must be distributed and administer the estate on their behalf. A Grant of Letters of Administration would need to be applied for, which Sutton & Co. Solicitors can assist in obtaining for the next of kin of the deceased.
What is Probate?
Probate is a term used to describe the process of administering a deceased persons estate.
Where there are significant assets or money held in bank accounts, the executors appointed under a Will would need to apply to the Court to obtain a Grant of Probate, to allow them to sell and collect assets in.
Why use Specialist Probate Solicitors to administer an Estate?
Acting as an executor for an estate can be an onerous task, as executors must ensure that the estate is collected, administered and distributed correctly. If not, executors could find themselves personally liable for any loss incurred to an estate. By appointing Sutton & Co. Solicitors on the administration of the Full Estate executors will have the peace of mind knowing that the administration is being done correctly. Sutton & Co Solicitors will advise executors every step of the way and advise what executors should do to protect their own position.
Sutton & Co Solicitors will deal with inheritance tax, income tax and capital gains tax which may arise during the administration of an estate.
Sutton & Co Solicitors can also advise on post-death opportunities that may be available in rearranging a deceased’s estate to save inheritance tax, or to take into consideration circumstances that were not envisaged when a Will was made.
Do Lifetime Gifts affect the amount of Inheritance Tax payable?
An executor is responsible for ensuring the correct level of inheritance tax is paid to HM Revenue & Customs, if not an executor could find themselves personally liable, where they have distributed the estate.
Lifetime gifts can affect the amount of inheritance tax payable. Executors have a duty to investigate the estate fully and report gifts made by the deceased to HM Revenue & Customs within the correct time limits to avoid penalties and interest.
Why would Capital Gains Tax be payable when someone dies?
When someone dies, their estate is re-valued up to the date of death for inheritance tax and for capital gains tax. When assets, such as property or shares, are sold during the administration of an estate, a gain can arise between the date of death valuation and sale price received, in such instances capital gains tax is payable. In some cases capital gains tax can be avoided completely by taking certain steps before a sale. During the administration of an estate we would consider re-arranging a deceased’s estate to save capital gains tax from being paid.
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If you would like to speak to a member of our team in relation to the administration of an estate please call: 0121 448 3107