PROBATE MATTERS
We can act on your behalf to wind up a Deceased’s Estate.
- At your initial appointment, once we have ascertained what is involved in administering the estate we will provide you with an estimate of your likely charges’. Our estate administration fees are based on an hourly charge of £300 per hour plus VAT and in addition to this, if we are carrying out full estate administration, we also charge a 1% plus VAT uplift based on the total gross value of the estate. There may also be other related disbursements such as probate registry fees and other searches/advertisements which are applicable to the estate. 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.
