When it comes to Probate it’s important to remember that every estate is different and whilst you can undertake the probate process yourself, remember that you have the option of seeking professional advice and help.

When should you seek professional advice from Harwood & Co Probate Services?

It’s difficult to give a definitive list but in general, it is advisable to seek professional advice in any of the following circumstances:-

• The will can’t be found or the deceased died without a will.
• The estate is subject to inheritance tax.
• The value of the estate is over the Inheritance Tax threshold (2016/17 £325,000) and the estate continues to receive regular income from investments etc.
• The deceased held land and property.
• The deceased owned and/or ran a business (sole-trader, partnership or limited company).
• The deceased has left money or assets/property in trust.
• The deceased was completing self assessment tax returns prior to death and will need to ensure all personal tax affairs are in order.

To find out more about how Harwood & Co Probate Services, based in Warwick, can help, please get in touch.

The controversial plan to increase Probate fees, which had been due to rise from £155 (or £215) to up to £20,000 for some estates in England and Wales from May 2017 have been scrapped as a result of the forthcoming general election. The Ministry of Justice have said there was not enough time for the legislation to go through Parliament.

Under the proposed changes, the probate application fee was being changed from a flat fee of £155 (or £215 if being made through a solicitor or accountant) to a sliding scale linked to the value of the estate. Estates worth between £50,000 – £300,000 would have had a fee of £300 and the highest fee of £20,000 would have been applied on estates worth £2million and over.

It is not yet clear whether the plans have been fully scrapped or just postponed.

To find out more about probate fees and how we can help guide you through your Probate journey, please get in touch.

Michael Harwood & Co. Chartered Accountants and Business Advisors are expanding their service portfolio after recent changes to legislation allowing the Institute of Chartered Accountants in England & Wales (ICAEW) to become an approved Regulator and Licensing Authority for Probate. Members of the ICAEW can now apply to undertake non-contentious probate services.

As one of Warwickshire’s leading accountancy practices with offices in Warwick and Kenilworth, Michael Harwood & Co Chartered Accountants and Business Advisors felt that moving into Probate was a natural progression and met a growing demand from existing clients as Mark Harwood, Managing Director explains:

“With the business having recently celebrating its 20^th anniversary in 2013, we understand that we have to continue to adapt and grow to meet our client’s requirements. This recent change in legislation opens up new opportunities for us and setting up our sister company ‘Harwood & Co Probate Services’ based in Warwick allows us to support our clients, who we know well and who trust us, through the minefield of probate at a time when they may be grieving or feeling vulnerable.”

“As members of the ICAEW, we felt we were well placed with the knowledge and experience surrounding the tax affairs of a deceased’s estate to expand our services to now assist with the probate matters as well. This will enable our clients to feel secure in the knowledge that we are able to provide a more complete service.”

To find out more about how we can help guide you through your Probate journey, please get in touch.