Applying for the legal right to deal with someone’s property, money, and possessions (their ‘estate’) when they die is called ‘applying for probate’. If the person left a Will, you need a ‘Grant of Probate’. If the person did not leave a Will, you need ‘Letters of Administration’. You may not need probate if the person who died had jointly owned land, property, shares, or money as these will automatically pass to the surviving owners. If it falls to you to act as an executor for a loved one, you’ll need to contact asset holder such as bank and building societies to find out if they insist on a grant of probate for you to get access to their assets. Every organisation has its own rules. Where ISAs are concerned, because an ISA is by definition an individual investment (because there’s no such thing as a joint ISA) then a Grant of Probate is invariably required. The same usually goes for most other investments held in the deceased’s sole name, for example shares.
Our bereavement service is designed to help executors deal with the estate speedily and efficiently. We can help you to obtain the Grant of Probate, arrange for the payment of any sums due under life assurance policies or from pension funds. We can also arrange for the transfer of ISAs from the deceased spouse or civil partner’s estate to the survivor, as the ISA rules now permit.
Law firms’ typical charges for obtaining a Grant of Probate are £250 per hour plus 1% of the non-property estate (cash, shares etc.) plus 1% of the value of any property i.e., the main residence and/or rental properties. We charge a fixed fee depending on the amount of work involved that has nothing to do with the value of the estate. We are usually vastly more economic than our competitors and, our service is all-encompassing. A law firm can get you a Grant of Probate but they won’t deal with the life assurance, pension, and investment companies on your behalf as we do.
Every West Riding client has the Managing Director’s home and mobile numbers for 24/7 availability in an emergency. When you need us, we’re here for you.