NFFD’s National Probate
As the National Federation of Funeral Directors, we have a closer understanding of what you are going through and the burden you now face with probate. Just let us do it!
What is Probate?
The term ‘Probate’ is widely used to describe what happens to someone’s property, money and possessions – their estate – when they die. This is also known as ‘estate administration’ or ‘administering an estate’.
The process involved in Probate can be complex and time consuming. It involves things like:
- Establishing exactly what the person who dies owned
- Notifying government departments, like the Passport Office, DVLA and HMRC
- Ensuring that all assets are held securely and protected from damage or theft
- Preparing Inheritance Tax forms, calculating any tax due and ensuring payment
- Dealing with online accounts belonging to the deceased
- Applying for and obtaining the Grant of Representation from the Court
- Identifying all those entitled to inherit from the estate
- Closing bank accounts, collecting money due on the estate, selling property
- Paying all debts, including Mortgages, Credit Cards and Loans
- Finalising Income Tax for the deceased
- Preparing estate accounts to the beneficiaries
- Distributing the remainder of the estate to the beneficiaries
How Much Can Probate Cost?
Dealing with the estate administration and being responsible as the personal representative, is not only time consuming but also means that if you do something wrong, even unintentionally, then you can be personally liable and may have to put right any wrongdoing and settle any financial loss out of your own pocket.
Which is why many people choose to appoint a professional to act as their personal representative. However, this can prove to be VERY expensive. Many professionals will charge a percentage – usually around 2.5% -of the value of the estate, regardless of the amount of work required, or the complexity of the estate.
- Estate Value
- £325,000
- £500,000
- £750,000
- £1,000,000+
- Solicitor Fees*
- £8,125 + VAT
- £12,500 + VAT
- £18,750 +VAT
- £25,000 +VAT
*Based on Law Society’s fee recommendations to their members. Many charge more with various hidden extras.
Who can use the NFFD’s National Probate Service?
Anyone in England, Scotland and Wales can use the NFFD’s National Probate (also known as confirmation in Scotland) Service. We offer everyone FREE probate advice prior to taking any instructions to make sure the deceased met the criteria that would require the administration of probate.
Our National Probate Service is a great alternative for those that need time to grieve and don’t want to pay exorbitant solicitor fees. We completely take away the burden of dealing with Probate at your time of bereavement, meaning you can spend more time remembering and celebrating the life of the deceased, instead of worrying about the legalities of Probate administration.
