Fees

PROBATE : RANGE OF COSTS

APPLYING FOR A GRANT, COLLECTING AND DISTRIBUTING THE ASSETS

We anticipate this will take between 5 hours and 30 hours work at £200.00 plus VAT per hour.  Total costs estimated at £1000.00 to £6,000.00 plus VAT and disbursements as referred to below.

The exact cost will depend on the individual circumstances of the matter.  For example, if there is one beneficiary and few different assets, costs will be at the lower end of the range.  If there are multiple beneficiaries and multiple bank accounts and shareholdings costs will be at the higher end.  Conveyancing fees where there is the sale of a property will be charged separately in accordance with out scale of fees for property sales.

IF WE ARE TO HAND THE FULL ADMINISTRATION OF THE ESTATE THIS ESTIMATE IS FOR WHERE:

  • There is a valid Will.
  • There is no more than one property.
  • There are no more than 10 Bank or Building Society accounts.
  • There are no other intangible assets.
  • There are between 1 and 10 beneficiaries.
  • There are no disputes between beneficiaries on division of assets.  If disputes arise this is likely to lead to an increase in costs.
  • There is no inheritance tax payable and the Executors do not need to submit a full account to HMRC.
  • There are no claims against the estate.
  • We are not responsible for finalizing the income tax position of the estate or any ongoing tax liabilities relating to the administration of trusts under Will.

DISBURSEMENTS PAYABLE IN ADDITION TO THE LEGAL COSTS

  • Probate application fee.  Currently £155.00 but due to increase to a scale dependent upon the size of the estate in 2019.
  • £7.00 for swearing of the Oath for Executor where there is a Will (per Executor)
  • £2.00 (per beneficiary) Bankruptcy only Land Charges Department Searches
  • £83.00 Post in The London Gazette – protects against unexpected claims from unknown creditors.
  • £110.00 (approx.) Post in Local Newspaper – this can also help protect against unexpected claims.

Disbursements

These are costs related to your matter that are payable to third parties such as Court fees or Search fees.  We handle the payment of the disbursements on your behalf.

Potential additional costs

  • If there is no Will or the estate consists of any shareholdings (stocks and bonds) there are likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with.  We can give you a more accurate estimate once we have more information.
  • If any additional copies of the grant are required they will cost £0.50p each and we usually obtain a number that enables us to proceed to send copies for each asset held increase of having to wait for the return of the grant each time before realizing the next asset.
  • Dealing with the sale or transfer of any property in the estate is not included.

How long will this take?

On average, estates that fall within this range can be dealt with within 3 to 6 months.  Typically, obtaining the Grant of Probate takes 4 to 12 weeks.  Collecting assets then follows which can typically take between 4 to 12 weeks.  Once this has been done we can then obtain your approval of an Estate Account before distributing the assets which normally takes 2 to 4 weeks.

Fixed fee Probate Service

If you are confident that you can deal with the realization of assets, dealing with all taxation matters and distributing the estate in accordance with the Will yourself particularly when there may only be one or two beneficiaries then we can limit our work to actually obtaining the Grant of Probate for you through the Court with additional copies and these are then handed to you as Executor to deal with the realization of assets, payment of creditors and dealing with taxation issues yourself before distributing the estate yourself.  We would only deal with matters on this basis in the case of an estate that did not involve a full Inheritance Tax IHT400 or the transfer of any allowances from a predeceased spouse which involves much more work.

Our fees for dealing with a matter upon this basis would be £500.00 plus VAT at the prevailing rate plus any Court fees and disbursements as outlined above in relation to our full Probate service.