Reasonable fixed fee for obtaining probate/administering an estate?

lr1277

Keep_pedalling said:

lr1277 said:

As a point of comparison, the accountancy firm I use, is quoting 1% of the estate's value to do probate. But my dad had a slightly complicated tax return to my mum wanted the accountant's involved. There is a minimum charge of £1.5k or £2k. This is from a firm based in Hertfordshire.

I don't know what exactly the accountancy firm will do, but no property sales involved. Just changing the ownership of properties from jointly owned to single ownership at the land registry. We may have to do that ourselves or get a lawyer to help.

I don't know exactly what the firm will do as mum and I have not had our first meeting with them. However they say they will submit all the tax returns and the forms for probate.I shall find out next week.

As an aside, my dad submitted his tax returns electronically. I was going to do the same for his returns now that he has passed. But apparently you can't submit (certain) forms electronically after that person has died. Has to be paper forms or I guess forms submitted by a solicitor/accountant. Again I will find this out when I meet the accountants.

HTH

Unless there is a business to wind up or something requiring complex tax returns I can’t see why you would need an accountant to wind up his estate. Assuming your parents were married, If everything is going to your mother them the estate is exempt so no IHT return will be required, probate is not required for the home, although may be needed for other assets such as equities or large cash deposits.

1% could be a very big bill for very little effort.

Thanks. Don’t disagree. Mum (and I) will make a decision after our initial meeting. Will find out if we can employ them on an as needed basis, as suggested many times on this board and it’s sub-board.