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Legal, pensions and money

Probate - how much?

(17 Posts)
Poppyred Mon 15-Aug-22 23:48:26

Just had a conversation with someone selling a will/probate package. Anyone had experience of this?

If you own a house - you will need probate and solicitors will charge between 2.5% and 4% - which can be upwards of £10,000 plus if property is worth upwards of £250k.

Georgesgran Tue 16-Aug-22 00:03:40

I would make sure probate’s needed in the first place. If you’re talking about a spouse - probate’s only needed for assets held solely in his/her name and if the house is jointly owned with no mortgage, it would pass to the surviving spouse. For some assets - letters of administration might be the only requirement.
Probate for an estate under £5k is free, over £5k is £273 according to the Government website.

Rosie51 Tue 16-Aug-22 00:26:37

Probate where there aren't complicated issues or a large estate is very straightforward. I did it when my father died (mum already deceased) and found a quick call to the probate office with any queries was dealt with sympathetically and with great clarity. No solicitor needed, minimum cost, quickly achieved. My dad had named my brother and I as executors, all I needed was his signature that I was empowered to act alone for a swift ending.

Poppyred Tue 16-Aug-22 08:40:51

Yes, when there’s a house involved…..

Germanshepherdsmum Tue 16-Aug-22 09:54:13

What is a 'will/probate package'? I assume this 'someone' isn't a solicitor? Do be careful using anyone who isn't a practising solicitor; they are not only qualified to do the job, they have insurance if a mistake is made.

Georgesgran Tue 16-Aug-22 10:12:32

Wise words GSM

Oopsadaisy1 Tue 16-Aug-22 10:16:00

GSM so good to see you are back, we have often needed your expertise.

Germanshepherdsmum Tue 16-Aug-22 10:46:40

Thanks so much!

Visgir1 Tue 16-Aug-22 11:23:15

GSM.. Knows her stuff.
However when my Mum died, in her will 50 - 50 me and my sister. Which was her her Flat some money <250k
We did it ourselves .
Anything more or lots of bequests you definitely need professional help.

Rosie51 Tue 16-Aug-22 12:27:37

That was my situation too Visgirl and agree about GSM's expertise too smile

Germanshepherdsmum Tue 16-Aug-22 12:42:37

Yes, it’s perfectly easy to do a simple probate yourself. I was simply worried about trusting someone unqualified and particularly the mention of wills.
Thank you for your kind comments!

Katie59 Tue 16-Aug-22 14:49:18

Not difficult to DIY if it’s simple, even larger if it all goes to the surviving spouse. If sale of property or investments are involved you will need a solicitor, in which case £10,000+ is likely

Jaxjacky Tue 16-Aug-22 15:30:55

We engaged a solicitor for my late Mum’s estate, no house, but the majority of the estates assets were in bonds, insurances and other holdings worth a considerable amount of money. We also had to pay a significant amount in inheritance tax, then later claim £10k back.
Our solicitors bill was about £7k. We couldn’t have managed it successfully.

Pammie1 Tue 16-Aug-22 15:38:26

If there’s a will and it’s straightforward, you can do it yourself, even if there’s property involved.

Poppyred Tue 16-Aug-22 17:24:18

Katie59

Not difficult to DIY if it’s simple, even larger if it all goes to the surviving spouse. If sale of property or investments are involved you will need a solicitor, in which case £10,000+ is likely

Thank you Katie59 - there is a property involved. You have confirmed what I’ve been told. Staggering really isn’t it!

Germanshepherdsmum Tue 16-Aug-22 17:30:27

Not staggering if it includes sale of investments and property. It can take a great many hours of work, and remember the 20% VAT goes to the Treasury.

Suki70 Tue 16-Aug-22 21:40:24

After my husband died a year ago I started to do the probate myself and was told by the Probate Office that inheritance tax would probably need to be paid. I did some research and then decided to use a well known national company who offer a fixed fee plus the cost of disbursements. After a free hour’s video call with an adviser my family and I were told the fee and I decided to go ahead. The case handler was excellent , I got to know him well and could choose how we communicated. It was a large estate with a house, investments, gifts made less than seven years previously and a will that involved trusts. There was no inheritance tax to pay and the total cost was under £3000.