Key Stages

General

Before we can commence work on any matter, if instructed, we first need to undergo our compliance protocol in terms of client ID verification, Anti Money Laundering requirements, proof of source of funds, and completion of our Terms and Conditions. This can add up to two weeks onto a transaction and is dependent on the client providing us with the required information.

We set out below a brief summary of key stages of the various types of work we undertake for clients.

Wills

1. Take instructions from client and aim to provide a first draft for discussion within 2 weeks.
2. Meet client to review and make any potential changes. The timescale for completion is driven by the client’s requirements and the complexity of the advice sought.
3. Once final Will is agreed meet with client for execution of Will.
4. Additional costs. Potential disbursements of approximately £6 (no VAT) if we need to review title to the client’s property.

Probate

1. Once instructed, our clients are sent a comprehensive questionnaire to ascertain details of the deceased estate’s assets and liabilities. Once received all organisations are contacted and information sought. We aim to file an application for Probate or Letters of Administration as soon as possible, but this can take 2 to 3 months depending on the speed of information provided.
2. When the Grant has been applied for it is likely to take the Probate Registry upwards of 2 to 4 months to issue the Grant. 
3. We advise that a notice is placed in the London Gazette and local newspaper to ensure there are no unknown debts of the deceased. The cost of this is dependent on the local newspaper fees but allow £350 – £380 (inc. VAT) and we will need to be placed in funds by the Executors or Personal Representatives of the deceased.
4. Following issue of the Grant, the assets of the estate can be collected in order to administer following the appropriate time period (usually 6 months after the Grant has been received) for the beneficiaries. Any debts of the estate can be paid once funds are collected.
5. We arrange for any Inheritance Tax liability to be paid, where appropriate. 

Lasting Powers of Attorney

1. Aim to prepare Powers of Attorney for execution within 7 to 10 days of receiving full instructions and to meet with client to supervise signatures.
2. Once all parties have signed, application is made to the Office of the Public Guardian to register the Power. This can take 8 to 10 weeks to complete.
3. The fees payable to register the Lasting Powers of Attorney are £82 (no VAT) per document.

Commercial Property

1. For sales and purchases of commercial land the key dates are similar to those for residential conveyancing (see below), but generally the transactions are not part of a chain of transactions.
2. For the grant of new commercial leases of premises, it is essential for the parties to agree formal written Heads of Terms before proceeding with the transaction. We encourage prospective tenants of commercial premises to seek our advice on the draft Heads of Terms before they are agreed.
3. There is guidance elsewhere on our website about points to watch when negotiating Heads of Terms.
4. Commercial searches are generally the same as for residential property but by their nature are more expensive, and £500 to £750 (inc. VAT) should be allowed.
5. The completion of new leasehold transactions can be completed within 4 weeks if all parties are committed to that timescale. It is generally wise to allow up to 2 months for such transactions to be completed.
6. Stamp Duty Land Tax, if due must be filed and paid within 14 days of completion of the transaction.
7. There will be disbursements such as Land Registry Title entries and Land Registry registration fees on completion of transaction (if applicable). The costs will be dependent on the transaction, which we can explain in relation to individual transactions.

Document and Deed Retrieval

1. On receipt of a request for information we aim to respond within 7 days.
2. Once confirmed that we are holding Deeds or Documents, we request payment of our administration fee.  We will have been storing these deeds free of charge, but our administration fee is to cover the cost of retrieval, checking and dispatch.
3. When payment has been made and we are in cleared funds, the Deeds and Documents will be sent to you by Recorded Delivery within 7 days.
4. If you are not the individual named in the Deeds or Documents, we will require evidence of your identity and relation to the named person or persons.

The above guidelines for key stages are an indication only, as all cases are individual with many variables. We are happy to clarify timescales and stages for individual cases at the outset if needed.