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.
Probate application fees are usually calculated in one of three ways: As a Fixed Fee, where you are not using a solicitor, DIY services start from as little as £300 for simple estates. Though that does not include Settld’s award winning account closure service, you can expect the overall application to take around 10 hours of your time. As an hourly charge. You should get an estimate of how much the overall price will be before the work begins. As a percentage of the value of the estate, plus VAT. These charges tend to range between 1% and 2%. You [...]