Probate and Administering Estate's are just some of the services we offer. With many legal services involved regards Probate, the legal process can be complex, with every case bringing individual circumstances.
Our ethos is to uncompliate the legal process and to be as transparent as possible regards what to expect and the costs involved. Below is a general outlook on the legal process and costs involved when instructing us for all your Probate requirements.
The average charging rate for team members is £185 + 20% VAT. Full details of individuals’ charge out rate are included in the confirmation of instructions that are sent to you following instruction.
Option 1 - Obtaining the Grant of Probate only for Executors
In the majority of cases when you provide valuations and relevant information to us to enable us to obtain the Grant of Probate we charge a fixed fee which will depend on the complexity of the estate.
Our fees range between £750+ VAT - £1,250 + 20% VAT. The average fee is £750 + 20% VAT for an estate which will not pay Inheritance Tax and will not require a transferable nil rate band application or a full Inland Revenue account (IHT400).
If the estate is liable to pay Inheritance Tax or a full Inland Revenue account (IHT 400) is required our fees range from £1,750 + 20% VAT - £3,000 + 20% VAT. The average fee is £2,000 + 20% VAT but in order to provide a fixed fee or estimate we will require further information about the estate as there may be investigations to be carried out by HMRC.
Once the Grant of Probate is obtained this is forwarded to the Executors to enable them to administer the estate.
Option 2 - Full Estate Administration
We are able to offer this work to be done on a fixed fee basis which provides certainty for the Executors.
We do not offer this for an estate under £100,000, this is charged at an hourly rate on a time recorded basis.
Fixed fees for estates are as follows (all fees are subject to 20% VAT):-
- Between £100,000 and £325,000 – £4,500
- Between £325,000 and £650,000 – 2.25% of the value of the estate
- Between £650,000 and £1 million – 2% of the value of the estate
- Over £1 million – 1.75% of the value of the estate.
On occasion it may not be possible to offer a fixed fee if for instance:-
- there is the possibility of someone challenging the Will.
- there are Overseas assets.
- there are complex assets.
Other costs referred to as disbursements are payable. These include but are not limited to:
- Probate fee - £155 plus additional copies of the Grant £1.50 each.
- Statements of Truth - £5 for each Executor plus £2 for each document.
- Bankruptcy searches - £2 for each beneficiary if based in the UK.
- Statutory advertisements – approximately £220 plus 20% VAT.
- Valuation fees.
The above costs do not allow for the following:
- If there is no valid will.
- Dealing with the sale, transfer or appropriation of any property or property share in the estate.
- Assets held in trust or policies held outside the estate.
- Assets of a pre-deceased spouse that have not yet been dealt with.
- A trust created during the deceased's lifetime.
- The administration of a trust created by the deceased's will (or by intestacy).
- Subsequent information received or applicable after receipt of initial instructions.
- Disputes in the estate.
- Foreign assets (outside England and Wales).
Obtaining the Grant of Probate will usually take between 2-4 weeks once all information has been received to enable the application to be prepared. The estate administration can take between 2 - 18 months depending on the complexity of the estate. During this period we will where possible make interim distributions to beneficiaries without delay.