Probate

Making the process run smoothly

Probate is an essential part of wrapping up the financial affairs of someone who is recently deceased and allows the estate to be dealt with in accordance with the deceased’s wishes.   At Wells Associates, our probate team is accredited with the ICAEW and can help you make the entire process run as smoothly as possible, supporting you through this difficult time. 

The probate process can be a daunting prospect, but we can help you with any aspects whether this is just offering guidance and advice right through to dealing with the entire process on your behalf.  Typically, the process will involve:

• Registering the death and obtaining copies of the death certificate;
• Dealing with the funeral arrangements;
• Sending notifications of death to financial institutions, Government organisations, and other relevant institutions;
• Ascertain whether there is any entitlement to bereavement allowances or benefits;
• Finalise the income tax and capital gains tax position of the deceased at the date of death.
• Review the Will, codicils, and legacies to ensure that they are valid and ascertain who the beneficiaries are;
• Identify the composition and value of the estate and ascertain whether a grant is needed;
• Prepare any inheritance tax returns and settle the liability;
• Prepare the papers for application for a grant of probate / grant of administration;
• Take control of and gather in the assets of the estate;
• Pay the debts of the estate including tax liabilities;
• Finalise the estate tax position for the period of administration;
• Pay legacies and transfer the balance to the residuary beneficiaries; and
• Prepare estate accounts.

The probate process can take anywhere from 6 months upwards to complete with the exact length of time depending on a number of factors. However, with us at your side, it certainly won’t take any longer than it absolutely needs to and whatever the complexities of your case, we’ll work with an eye for detail and our experience in probate to deliver for you.

Once we have an understanding of the estate and the help you require, we will provide you with a fixed fee quote for the services we will provide and set out any additional costs that may be required.  The scope of work and fees, along with all our other terms including details of our regulatory obligations, professional indemnity insurance, complaints procedures etc. will be clearly set out in a letter of engagement for your approval.