Prepaid Probate Plans
Planning your future has so many benefits and no disadvantages. Let us guide you through it today.
There are many benefits of taking out a prepaid probate and estate administration package, mainly the clarification and peace of mind it gives you and your family. regarding the overall costs and process of administering your estate.
Prepaid Probate Plans
Planning your future has so many benefits and no disadvantages. Let us guide you through it today.
There are many benefits of taking out a prepaid probate and estate administration package, mainly the clarification and peace of mind it gives you and your family. regarding the overall costs and process of administering your estate.
Example Quotes
Prepaid Probate Small Estate
Policy Holder Age 55 at start of policyEstates value £325,000 (present value)
£
3,465
Total with VAT
-
Typical Solicitor Cost £7,800
-
You save £4,335
Prepaid Probate Medium Estate
Policy Holder Age 60 at start of policyEstates value £500,000 (present value)
£
3,780
Total inc VAT
-
Typical Solicitor Cost £12,000
-
You Save £8,220
Prepaid Probate Large Estates
Couple's Policy Eldest Age 70 at start of policyEstates value £750,000 (present value)
£
5,530
Total with VAT
-
Typical Solicitor Cost £22,500
-
You Save £16,970
Please note this system is for a maximum estate value at the present-day value of £2,000,000 if your estate is more valuable please call free on 0808 188 9008 for a free no-obligation quote for your unique situation.
See how much you could save in fees with a Prepaid Probate Plan
It’s quick and simple to calculate the cost of your prepaid probate plan with us. Simply select the details that apply to you and immediately see the costs and potential savings. Our fees are calculated based on age and if it’s a single or joint policy. We are able to demonstrate savings as most banks and solicitors charge a percentage of estate value, irrespective of the work required.
The average UK estate goes up by 7.3% each year, so the longer the plan is in place the more you will save.
Single Policy
Couples Policy
What’s included in your PPP?
At the time of setting up your Prepaid Probate Plan. We will do the following.
- Take your instructions.
- Create and store a new free will in an offsite fire & waterproof document centre.(Please Note: You can use your existing will but this will either need to be updated or a codicil added to include us as joint executor and we would need to know the exact location of the master will)
- Create portal access for you to upload documents and modify your estate over time.
- Assess the nature, extent and value for inheritance tax purposes of the Assets of the Estate.
- Assess the nature, extent and value for inheritance tax purposes of the Liabilities of the Estate.
- Prepare current accounts of the present day estate.
- Provide you unlimited support over the phone from Monday to Friday, 7am to 11pm and weekends from 9am to 5pm.
When you pass away
When the time comes. Our fees cover everything from preparing your application and we will.
- Follow your given instructions.
- Re-assess the nature, extent and value for inheritance tax purposes of the Assets of the Estate.
- Re-assess the nature, extent and value for inheritance tax purposes of the Liabilities of the Estate.
- Arrange any insurances for any property that needs to be safeguarded during the period of the administration.
- Engage with HMRC as to the valuations of assets or of liabilities contained within the data retrieved by us or supplied to us.
- Engage HMRC as to the basis of calculation of any past current or future liability to inheritance tax, triggered by the application for probate.
- The preparation of IHT205 or IHT 400 for HMRC along with any other required forms such as for allowances.
- Arrange estate finnace (if required) to pay any inheritance tax bill (Ensurinig the estate obtains a grant of probate).
- Engage with the Department of Works and Pensions regarding any liability of the Deceased arising from overpaid benefits or from the ineligibility of the deceased due to any oversight in providing full disclosure of capital or income.
- The preparation of the Statement of Truth for the Probate Registry.
- Engage with charities and their designated officers on your behalf.
- Keeping joint executors updated by phone or email or another method of their choice.
- Procure the Grant of Probate.
- Collect in assets, closing accounts or discharging any liabilities of the estate.
- Arranging for final distribution among entitled beneficiaries.
- Preparing final estate accounts covering the period of administration of the estate.
- Provide joint executors unlimited support over the phone from Monday to Friday, 7am to 11pm and weekends from 9am to 5pm.
- Stop unwanted mail addressed to the deceased and safeguard against identity theft.
What isn’t included?
- Attending Inquests or liaising with the Coroner’s Service.
- Arranging funerals or cremation services.
- Authenticating or dealing with any problems arising from the form or content of any Will or Codicil with the Will (where the original is lost, destroyed, defaced or incomplete, or otherwise in a physical state giving rise to further query or investigation by the probate registry).(where the will is not written and held by us).
- Investigating or looking into any asset or liability data supplied by you, your accountant or your financial adviser or any third party authorised by you.
- Dealing with the sale or transfer of any property in the estate. (See conveyancing)
- Dealing with the purchase or transfer of assets between beneficiaries.
- Dealing with the sale or transfer of any property in the estate. (See conveyancing)
- Estate planning for beneficiaries or their families.
- Preparing Deeds of Variation in respect of inheritance tax or capital gains tax.
- Preparing Income Tax returns for the Deceased or his estate or for beneficiaries.
- Administering any trusts created by the Deceased or by the Deceased’s Will.
- Challenging any assessment of residential care fees liability of the Deceased.
- Challenging the financial management of the Deceased’s funds by former attorneys or deputies.
- Arbitrating or mediating disputes between beneficiaries
- Dealing with any claim or claims made against the estate (whether made by any third-party creditor or by any beneficiary or any claimant whether named in the Will or entitled by reason of the application of the rules of intestacy or otherwise).
- Published statutory notices in the London Gazette and local newspaper to protect you from challenges to the estate (See Extra Services)
- Disbursments such as the probate registry fee.
What will your executor need to do?
- Let us know of your death.
- Obtain the required number of certified copies of a death certificate.
- Provide us with the master will, if you did not re-write your will with us.
- Sign documents created by us, sent to them electronically.
And that is it.
UK's leading team of experienced and knowledgeable lawyers.
National coverage throughout England & Wales.
The Benefits of a Prepaid Probate Plan
The costs are fixed at the outset, saving your beneficiaries a significant amount of money.
You take away the burden of loved ones trying to apply for probate themselves and administer the estate.
You will feel fantastic that you have everything planned and organised saving the stress for your loved ones.
What's Next?
One of our experienced and professional team will discuss your circumstances and requirements with you to ensure you are making the right decision.
You will receive your Welcome Pack which includes your certificate and a copy of our terms & conditions.
We will write to you to confirm that we have been instructed and supply you all of our contact details.
You may request a new free will where we become joint executors. This way, your beneficiaries cannot miss the fact you have already paid for probate. Alternatively if you already have your own Will, you could ask your existing Will writing company to nominate your new probate specialist as an executor on the existing will.
Cancellation of your PPP. you can cancel your PPP at any time. If you choose to cancel the plan within 14 days of purchase, you’ll receive a full refund. If you cancel the plan after the first 14 days, you’ll receive a refund of the original amount paid, minus the management fee.
PROBATE CUSTOMER REVIEWS
Appointments
- 5th Floor 167 169 Great Portland Street Marylebone London W1W 5PF
- email@probatespecialistltd.co.uk
- 0207 965 7568
- 0844 884 8509
