WILL WRITING SERVICES

Do you have an up-to-date will? It gives you control in ensuring that all your money, possessions and property are distributed in accordance with your wishes upon your death. Preparing a will is important to unmarried couples as, under the rules of intestacy, your partner is not automatically entitled to any share of your estate. Contact Nadine Wong & Co Solicitors.

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LASTING POWERS OF ATTORNEY

A power of attorney is used for decisions regarding health and welfare or property and financial affairs. It is used by the elderly to ensure that such authority begins when the individual is unable to make decisions on their own. In addition to will writing, we can also help you register a power of attorney in Queensway.

There are two types of Lasting Powers of Attorney (LPA):

1. Property and Financial Affairs

2. Health and Welfare

Our fees to prepare LPAs start from £500 + VAT for one LPA or £900 + VAT for both types of LPA.

For clients with limited command of English, we offer interpretation in Chinese. Fees start from £600 + VAT for one LPA or £1100 + VAT for both types of LPA.

Disbursements to be paid are £82 to register each LPA for Office of the Public Guardian Fees and £35 for a certified copy.

Probate

Our team has extensive experience with the administration of estates and probate matters, straightforward and complex, since 1991.

Our fees for probate cases

We strive to be transparent with our clients and their fees. We cannot always anticipate matters that will complicate the case, but we will inform you in due course if there is an increase in costs. We will not give a final estimate of our fees until we are aware of all the details of the matter. Our charges are based upon the time spent on your matter at an hourly rate. We cannot out rightly state the length of time it may take for the administration of an estate, as it is largely dependent on the complexity of the case and a client’s individual circumstances. Therefore, the figures stated below are an estimate of the costs client is likely to incur in instructing us all the way through to the end of the retainer.

Our hourly rates as at January 2024 are:

GROUP 1 ESTATE: STRAIGHTFORWARD NON-CONTENTIOUS ESTATE

These fees are based on the administration of a straight-forward non-contentious estate where all assets are based in England and Wales, grant of probate and distribution of the assets.

The estimated total costs for this estate is between £5,000 to £11,000 (plus VAT and disbursements).

A straightforward Estate will usually entail a valid Will and only two beneficiaries: the spouse and adult child of the deceased.

Grant of Probate is required to access some of the assets owned solely by the deceased such as a substantive ISA and two bank accounts. There is no inheritance tax payable and the Executors do not need to submit a full account to HMRC.

GROUP 2 ESTATE: COMPLEX NON-CONTENTIOUS ESTATE

These fees are based on the administration of a complex non-contentious estate where all assets are based in England and Wales, inheritance tax is payable, and there are a high number of assets to be identified, collected and distributed.

An example of a complex estate would be where the deceased died without a will, therefore the intestacy rules will apply. They left a spouse, two young children and an adult child. The deceased made a substantial gift to their child 4 years before they died.

The estate is valued at over 3 million pounds and includes an extensive share portfolio, from which several key documents are missing. A full IHT account will need to be submitted to HMRC. The deceased was born in China but had lived in England for most of their life and the executors are concerned about the tax implication of this.

The work we do in relation to a complex estate will include all the work done for a straightforward estate and in addition:

GROUP 3 ESTATE: COMPLEX NON-CONTENTIOUS ESTATE WITH OVERSEAS ASSETS

We have extensive expertise in advising clients on international estates. As they are usually complex, we request that you contact us for a bespoke quote for our legal fees. Our work for international estates usually entails the deceased having numerous of foreign assets reserved for the intended beneficiaries without provisions for the spouse. As well as interests held in several businesses with wills applicable to different jurisdictions. Tax status and the implications of this for their estate must also be addressed.

Factors that may affect the cost:

Advice in relation to overseas assets and overseas grants (we may instruct overseas agents where needed e.g.,1, to reseal the grant of probate issued by the High Court of England and Wales in another country 2, to reseal a foreign grant in the High Court of England and Wales)
Protracted advice in relation to significant lifetime gifts
Advice in relation to contentious matters
Complex valuation issues
Dealing with the sale or transfer of a property in an Estate (fees for the sale of a property will be in line with our conveyancing fees Detailed advice on access to the deceased’s digital assets including access to the assets and their disposal
Drafting any additional documents such as those varying inheritance tax or a power of attorney
Wider tax advice on capital gains tax or complex inheritance tax reliefs
Protracted correspondence with HMRC with regard to valuations of taxation issues
Dealing with any corrective accounts required by HMRC

GROUP 4 ESTATE: COMPLEX AND CONTENTIOUS ESTATE

Due to the complex and varying nature of these Estates, we ask that you contact us for a bespoke quote.

WE DO NOT OFFER CONDITIONAL FEE OR FEES BASED ON NO WIN NO FEE AGREEMENTS

VAT

All of our fees and most disbursements are charged at the current rate of 20%. Disbursements are costs incurred in the matter that are payable to a third party. As the matter progresses, additional disbursements may occur such as court fees. We will inform you in advance when these disbursements occur.

These are likely to include:

Other less common disbursements may include accountant fees, lost share certificate fees or agent fees for share sales among many others.

Timescale

Although we cannot guarantee the length of time to administer an estate, on average, probate matters for non-taxable estate that are straightforward without complications are dealt within 9 months.

This will include:

Up to 6 months for obtaining Grant of Probate
1-2 months for collecting in the assets
The distribution normally take up to 2 weeks.

For matters involving taxable estate, on average it will take 12-18 months. This will include:

6-9 months for obtaining Grant of Probate
2-3 months for collecting in the assets.

This process can take longer and is often subject to delay when dealing with HMRC. We will advise you once we have the full circumstances of the case.

ESTATE ADMINISTRATION

The loss of a loved one is a stressful and upsetting time. Our solicitors provide you with clear advice in relation to the administration of the deceased’s estate. It is the responsibility of the executor or administrator of the estate to ensure that the liabilities of the estate are settled, and the assets are distributed in accordance with the deceased’s will or the rules of intestacy in the absence of a will.

Our solicitors strive to make the process as simple as possible. We can assist the executor in obtaining the grant of probate or, in the absence of a will, the letters of administration, which provide the authority for a specific person(s) to deal with the estate, as well as ensuring all the necessary formalities are complied with.

BOOK APPOINTMENT

When you require our will writing services, please book an online appointment, or contact Nadine Wong & Co Solicitors.

Call: 020 7243 8888

Fax: +44 (0)207 221 8802

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We are proud members of the ILPA (Immigration Law Practitioners' Association), and are accredited by The Law Society