Dealing with Probate and the administration of an Estate is a process with several stages. Each Estate we deal with is different and the exact cost involved will depend upon the individual circumstances, and you as clients will have differing requirements which we approach as flexibly as possible. You can opt to instruct us to deal with particular parts of the process, such as only doing what is required to obtain the Grant of Probate, or to deal with the whole process, including collecting the assets of the Estate and distributing the Estate to the beneficiaries after the Grant has been obtained, securing assets and maintenance of property. The information provided is for guidance only and we always provide a more detailed and specific estimate of fees and disbursements if you instruct us.
The basic typical stages in an application for probate and administration of an Estate include:
- Obtaining details of the assets and liabilities of the Estate
- Where applicable, preparing the relevant Tax forms and arranging for payment of Inheritance Tax
- Making the application to the Probate Registry for the Grant of Probate
- Obtaining the Grant and then gathering in the assets of the Estate
- Discharging payment of the estate liabilities
- Distributing the estate to the beneficiaries and where applicable providing a detailed Estate Account to the beneficiaries
Timescales:
- Obtaining a Grant of Probate may take between 2 and 6 months depending on the complexity of the Estate and whether Inheritance Tax has to be paid
- Full Estate management can take much longer, especially if assets are more complex or there is missing documentation. The question of Inheritance Tax can also take time to settle. A more complex estate may typically take a year to deal with. Where there is a property to be sold, the estate cannot be finalised until this has happened, and any final utility payments or refunds have been made.