In order to comply with your duties as Executor, you are required to value the Estate for inheritance tax, including estimating the value at date of death of any savings and investments, property, debts and other liabilities. You will then be required to either complete the requisite Inheritance Tax (IHT) forms and pay any tax owing or certify that you are applying for ‘Excepted Estate’ status. Settld can help identify all assets and debts as we manage correspondence with Service Providers to obtain date of death balances.

For the time being some Service Providers choose to handle correspondence by post. Once they process our notification, they will contact you directly with next steps and information. Many companies will get back within 10 working days. 

Typical solicitors charge ~£30 per company they engage with (“per letter”). Given that most people leave behind a minimum of 15 accounts, this can mean a legal fee of £450.

Aside from Settld’s fee, there’s a Probate registry fee of £273 and copies of the Grant of Probate cost £1.50 each. Some financial institutions require sealed court copies of the Grant to release funds from the Estate. Settld can also help to estimate the number of copies of the Grant you will need. You may also opt to place a Deceased Estate Notice in The Gazette to avoid being personally liable for any Estate creditors that come forward at a later date. The cost of advertising starts from about £80.