Cornfield Accountants are licensed by the ICAEW to undertake probate work and can provide you with a complete Probate and administration service.
We can help you with the Probate processes which can be complicated and time consuming. The process is made smoother for you and removes some of the stress at what is often a difficult time.
One of the benefits of choosing us as your accountant to deal with the Probate process is that through our client relationships, we already have knowledge of the deceased’s financial affairs.
However, if the deceased is not an existing client, we are still well placed to help with our specialist expertise in accounts, tax and estate administration.
We provide a discreet and professional Estate planning service to help you pass on your assets in the most efficient way to your beneficiaries.
We can be flexible in the service that we provide and our fees are competitive. You can choose whether we manage the complete process for you or provide support in the areas that you need it most.
Naturally, our fees are dependent upon the work involved and the complexity of the Estate. They are time-based and not on the value of the Estate - if the Estate is relatively straightforward i.e. where a basic IHT205 form is appropriate, then the fees tend to vary between £1,500 and £2,500 plus VAT; if the Estate is subject to Inheritance Tax and a form IHT400 is required, then the fees tend to vary between £2,500 and £8,000 plus VAT.
As soon as the Grant of Probate has been obtained, there are a number of matters that need to be dealt with such as preparation of the Estate accounts, collection and distribution of assets and dealing with settlement of liabilities/post-death taxation. The fees for such work tend to vary between £1,500 and £5,000 plus VAT but this will again depend upon the size and complexity of the Estate.
An estimate of the fees chargeable is usually provided at the initial meeting with the Executors.