Why Use TRF to Obtain Probate or Grant of Representation?
The simple answer is cost!
When a loved one passes away, relatives and friends experience grief and vulnerability for some time afterwards.
Once the funeral service is complete and people attempt to move on, practical matters such as dealing with the Will and assets of the deceased need to be dealt with.
The process is called obtaining Grant of Probate if there is a Will or obtaining
Grant of Representation if there is no Will. These are generally required if the
deceased owned property, shares and/or held savings of more than approximately
£30,000 (depending upon which bank or building society they are held in).
People tend to automatically approach a solicitor for advice and guidance. The legal costs usually amount to approximately £2,000 PLUS VAT, regardless of how simple the estate may be to administer. This is mainly due to the comparatively high hourly fees that most High Street solicitor firms charge.
Some solicitor firms prefer to charge 1%-2% of the value of the estate so an estate worth £400,000 would attract legal costs of between £4,000 and £8,000 PLUS VAT.
Either way, these costs are avoidable!
As we specialize only in Wills, Probate & Lasting Powers of Attorney, our overheads
are far lower. We pass this saving onto our clients.
TRF are able to provide exactly the same service, however we charge a flat fee of
£400 (£600 for unusually complicated estates). This, together with the
Probate court fee of £215 means that you will pay no more than £615 (£815 for unusually complicated estates)in order to
apply for and obtain the Grant of Probate or Representation certificate. (Please note that as part of the process,
the executor(s) of a Will is/are required to swear an affidavit before a solicitor confirming the honesty of the Probate application. The cost for this is currently £7 per executor).
This means that rather than paying the "going rate" to a solicitor to obtain Grant of Probate or Representation, through TRF, the executors of a Will save a considerable proportion of the estate which may then be distributed to the beneficiaries of the Will instead.
Please note that when there is a Will and there is only a small estate, Grant of Probate may not be necessary.