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When you die most families normally use a solicitor to wind up and distribute your estate. This is called Probate in England and wales, and Executry in Scotland. Many clients feel it is too expensive and takes too long. A probate plan means you fix this cost in advance and your family has nothing to pay when you die.
Affects estates valued over £5,000
Usually done by bank or solicitor
Costs up to
4% + vat of value of the estate
Costs more for complex estates
Probate can be seen as stressful and upsetting in a time of sadness especially if it’s a family member undertaking the process. They may be overwhelmed and worry about having the knowledge and time to do it. Our prepaid probate plans are simple, affordable and fixed fee.
Your Probate Plan may require your Estate and or beneficiaries to pay additional fees as disbursements or professional fees for services required outside of but essential to the completion of your Probate, some of which are, inter alia, set out below:
Probate allows the Executors in a Will to settle the estate. This means that once any debts and Inheritance Tax are paid the estate can be settled between the beneficiaries. If probate is not undertaken the assets are frozen and beneficiaries will not receive their inheritance.