Probate (Executor Support)

Probate explained

Probate is the legal and financial process of dealing with the property, money, and possessions of a person who has died. It is usually needed when the deceased person owned property or significant assets in their sole name. Suppose a bank or other financial institution has asked for a grant of probate or a grant of letters of administration (also called a grant of representation). In that case, probate will likely be necessary. It is, of course, a challenging time emotionally for the family and friends involved. It is the executor's role to administer the estate, including the probate process.

When is Probate Needed?

In the UK, probate is typically required when the deceased owned significant assets in their sole name. This could include assets such as property, savings, or shares. There’s no fixed rule, but as a general guide:

• If the estate is worth more than £5,000 to £10,000, banks and other institutions may ask for a Grant of Probate before they release funds.
• If the person owned a home in their sole name, probate is almost always required, regardless of the overall value.
• If all assets were jointly owned (like a joint bank account or shared home), probate may not be needed right away.
•  A death certificate is required to transfer the asset.

What’s the Typical Value of an Estate That Needs Probate?

There’s a wide range, but most estates that go through probate in England and Wales tend to be valued between £100,000 and £325,000. Some are much smaller, while others can be considerably larger. Probate isn’t just about the value—it’s also about how the assets are held. If you're unsure whether probate is required, we can help you verify and guide you through the process if needed.

Probate Services

Our Probate specialist is a highly experienced professional. 
In accordance with our transparency policy, all fees and terms will be clearly outlined in the writing before commencing any work.

Responsibility for handling the estate

When someone passes away, a personal representative or executor is responsible for managing their estate. If there's a will, executors can apply for probate. If there's no will, the personal representative administers the estate. Executors can give up their rights or hire a probate specialist. It's essential to understand responsibilities to avoid legal consequences. 

Probate Vs Wills & LPAs

Probate is required depending on the deceased person's financial situation, not on whether they left a Will or had LPAs. LPAs give authority to act on a person's behalf while they are alive. The Will directs executors on how to distribute the estate after the testator's death. Probate is part of the process of dealing with the legal and financial affairs of the deceased's estate. It's important to note that having power of attorney during someone's lifetime doesn't affect whether probate is necessary after their death.

DIY 

Pros:

• Cost Savings: Avoid professional fees. Though application fees and other costs remain.

Cons:

• Complexity: Probate can be both legally and administratively challenging, especially for larger estates or those involving complex property transactions.
• Time-Consuming: Gathering documents, valuing assets, and dealing with HMRC can take months and be a very stressful and frustrating process. Amateurs often confuse what is fair with what is legal.
• Risk of Errors: Mistakes in paperwork or tax calculations can lead to delays or severe financial penalties.
• Emotional Burden: Managing probate while grieving can be overwhelming.
• Disputes: Wills and inheritance are prone to disputes without the extra element of probate. Fern Wills are professional, impartial and great communicators. Minimising the risk of family accusations and conflicts.
• Perception: Executors often don't know how much they don't know until they start the process. Any work done may be wasted as it does not reduce the cost of professional help later.

Support from your Fern Wills Professional

Pros:

• Expertise: We understand probate law and can navigate complex estates efficiently.
• Reduced Stress: We handle paperwork, tax filings, and legal matters, easing your burden.
• Avoiding Mistakes: Professional guidance minimises errors that could cause delays or financial issues.
• Support in Disputes: If disagreements arise among beneficiaries, we can mediate and provide legal clarity to resolve disputes, often before they begin.
• Solicitors: Contact accountants, conveyancers, estate agents, and other relevant professionals to save hours searching.
• Wise investment: We hear hundreds of DIY stories, ranging from how easy it was to years of sleepless nights, family disputes, and costs and delays that outweigh the original quote for professional support.
• Team Work: Subject to your needs and approval, we may engage other professionals to work with you

Cons:

• Cost: Fees can be higher than those of a DIY approach.
• Perception: We can make the process look easy, due to decades of training and experience.

The value of professional assistance

The cost of probate varies depending on the estate's value and the complexity of the work involved. 

There are generally differing pricing structures on the market, and we will guide you through them to help you choose the best for you:

Fixed price: This approach appears transparent, although it typically includes a clause stating that additional charges may apply if the scope of work exceeds the initial brief. Guess what? The scope is often exceeded. The Society of Will Writers (SWW), the Solicitors Regulation Authority (SRA), and the Competition and Markets Authority (CMA) strongly discourage fixed-price probate and executorship services with discounted rates for upfront fees, and we strictly and willingly adhere to their guidance.

Hourly rates: These are fair, though they lack the transparency that fits with Fern's pricing ethics. It isn't easy to know with certainty how many hours are needed until work starts and the client is committed. Although very common, we feel that it is akin to writing a blank cheque.

Percentage of estate value: Clients are accustomed to this model since estate agents and mortgage providers commonly use it. Large estates are often more complex and require more work, though this is reflected in the final invoice. Of all standard models, this is usually the best for solicitors, executors, and beneficiaries. 

The Fern Wills Way: We believe in providing you with the best possible support throughout the probate process—a tailored blend of practical strategies that perfectly suits your needs. We understand that navigating probate can be challenging, which is why we work alongside you as your dedicated probate support, rather than taking control away from you. You are still in charge and check and sign every document. 

Our method strikes the perfect balance. We empower you to stay in control while our dedicated 1-on-1 probate specialist handles all administrative tasks, ensuring that every step of the process is managed with utmost care. You will review and sign paperwork, keeping you engaged and informed throughout the entire journey.
This collaborative approach not only saves you time and reduces stress but also lowers our risks and overhead costs, which is reflected in our competitive fees. By working together, we can streamline the probate process, making it as efficient and transparent as possible, so you feel confident and supported throughout every step. 
We value collaboration, communication and clarity.

A) We charge a minimum fee of £1000. This reduces the risk for us with small estates. We take pride in providing honest guidance. We will inform you if we believe you can complete probate without our assistance. 

B) We work on the standard percentage of estate value, 2%. We are neither the cheapest nor the dearest. We charge a fair rate for the work done and excel at clear communication.

C) If estates over £1m are less complex than standard, discounts may apply.

Overall, for each pricing model, you may need to engage additional professionals. This could include fees for asset valuation, accountant fees (if tax returns are required), court fees (if the will is contested), estate agent fees, and conveyancing costs for selling a property. Please note that these additional fees are separate from the professional fees, but they are paid out of the estate and are a regular part of the probate process. We have a trusted network of professionals that we can recommend to you or contact on your behalf.

If you’re handling probate yourself, the costs are lower in monetary terms, but it requires time, effort and financial risks of mistakes or omissions. There are many costs associated with DIY probate, including genealogical research, public notices, professional tracing services, and indemnity insurance.

Assets & Houses

A solely owned house or property, or one owned by tenants in common, requires probate to sell or transfer a deceased co-owner's share to their beneficiaries.

Planning for Probate

Our clients frequently share with us their experiences of how their parents made the executor's job less complicated by organising old paperwork, categorising items stored in the attic, giving away low-value items and clothes to charity, and preparing lists of accounts and individuals to contact. They say that many elderly or seriously ill family members have been more practical than they are when dealing with such situations. Of course, this is only part of the process, and the legal and financial elements are more complex and time-consuming.

Only so much can be done in advance, as probate cannot begin until after death. However, if authorised, with a registered Lasting Power of Attorney (LPA), or in some cases a General Power of Attorney (GPA), you can manage someone's legal and financial affairs before their passing. This can help simplify the probate process in the future. Executors or next of kin do not have authority over the estate until after the death of the deceased.

Case Study 1: Mr Jones has two adult Children in their 30s. They are academic and more than capable of learning enough about probate to administer their father's estate when the time comes. One of the children lives abroad, and the other has a highly demanding job. Therefore, there would be challenges coordinating their efforts and spending the time necessary to organise probate. Their father's estate was valued at £700k, and there were some complexities due to Inheritance Tax obligations. The father did not want to burden his children with the probate process. Fern Wills wrote his Will and appointed trusted professional executors. There were no upfront costs, and this could be amended at any time as long as Mr. Jones had the mental capacity to do so.

Case Study 2: Mrs Myers asked us to assist with the probate of her late parents' estate. She has other needs, both emotional and geographical, that would stretch the capacity of Fern Wills at that time. Her parents were loyal customers for the last 13 years, so we would not leave their daughter in an hour of need. With her permission, we introduced a trusted probate professional who lived within 3 miles of her home. After an initial chat, the consultant advised that the estate was so simple that our services would not be required. Delighted with the honesty and service, Mrs Myers engaged our services anyway, and we honoured the minimum charge while providing bespoke support that exceeded the client's expectations.

Case Study 3: Mr Green has three adult Children in their 40s. He had discussed his will estate plans with his family. His daughter was financially very comfortable and indicated that she would want to hold the property for a few years, to enable a renovation, extension and then sell for the maximum potential price. His son was less comfortable financially and needed a relatively quick sale and could not afford to invest in the property for a later return, nor did he want his sister to invest all the money and affect the final distribution percentage or be overall in control. The youngest daughter did not have money to invest, but could forgo any inheritance money to reinvest in the property. Either way, one or all of the children would be disappointed. The last thing Mr. Green wanted was a family dispute.

Mr Green asked Fern Wills to write the Will with a very clear distribution to beneficiaries. He requested a no-contest clause, ensuring that if any beneficiary took the case to court to contest the Will and lost, they would forfeit all claims to the estate. Fern Wills arranged a family conference call and a letter of wishes to explain Mr Green's wishes. Fern Wills included a reputable, trusted solicitor firm as executors to manage distribution and probate, based on the best overall outcome. Mr. Green was content that his legacy would be enjoyed, free of guilt and dispute.

Please don't stress

Coping with the administration of a deceased loved one's assets can be a challenging and emotional time. Numerous legal and financial tasks must be completed, which can add to the stress of the situation. We will assist you in managing these formalities for your family during this difficult time. We will handle the necessary paperwork, freeing you to concentrate on your grief and recovery.

We always offer a free, no-obligation consultation. We will be honest about pricing and let you know if you don't need any help. Regardless of your decision, they will provide helpful information so you have everything to gain and nothing to lose.