We can act on your behalf to wind up a Deceased’s Estate
Unlike other Solicitors or banks, we do not make our charges on a percentage value of the Estate which we regard as being unfair and instead only charge for the work that we undertake on your behalf.
Please contact our Office for an appointment and after we have ascertained what may be involved in winding up the Estate we will send to you a written estimate of your likely charges.
We anticipate this will take between 3 and 20 hours work at £175 per hour. Total costs normally fall between £550 and £3,500 (plus VAT).
The exact cost will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property, costs will be at the lower end of the range. If there are multiple beneficiaries, a property and multiple bank accounts, costs will be at the higher end. The charges will also depend upon whether the Estate will be liable to pay Inheritance Tax
We will handle the full process for you. This quote is for estates where:
- There is a valid will
- There is no more than one property
- There are no more than 4 bank or building society accounts
- There are no other intangible assets
- There are between 1 – 5 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 made against the estate
- All of the Assets are in England or Wales
Disbursements to be added to our fee:
- Probate application fee is normally £155
- £7 Swearing of the oath (per executor)
- Bankruptcy-only Land Charges Department searches (£3 per beneficiary)
- £250 – £500 Post in The London Gazette – Protects against unexpected claims from unknown creditors (you may choose not to incur this expense).
- £250 – £500 Post in a Local Newspaper – This also helps to protect against unexpected claims (you may choose not to incur this expense).
Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Potential additional costs
- If there is no will or the estate consists of any share holdings (stocks and bonds) there is 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 quote once we have more information.
- If any additional copies of the grant are required, they will cost £1.50 (1 per asset usually).
- 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 are dealt with within 3 – 6 months. Typically, obtaining the grant of probate takes 4 -8 weeks, which can be longer if the estate has to pay Inheritance Tax. Collecting assets then follows, which can take between 8 – 15 weeks. Once this has been done, we can distribute the assets, which normally takes 2 – 3 weeks. There are potential many variables, as with all communications we send, progress depends upon how quickly third parties respond upon which we have no control, which may significantly alter our estimated time to complete your matter.