Our Fees – Probate Administration

Applying for the Grant, collecting and distributing the assets.

We charge a fixed fee wherever possible. In the case of an average estate below the Inheritance Tax threshold we will charge £3,500.00 plus VAT of £700.00, a total charge of £4,200.00.  There will be additional fees and expenses known as disbursements which we will have to pay and charge the estate, and which are set out below.

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 3 bank or building society accounts
• There are no other intangible assets
• There are 2- 4 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

We reserve the right to make an additional charge at hourly rates if we have to deal with any specific problems, such as disputes between beneficiaries. 

If the estate is over the Inheritance Tax threshold and/or there are any complicating factors, we shall tell you whether we shall charge a fixed fee, which is likely to start at £4,000.00 plus VAT.  If the estate is unusually large or complex we may charge at hourly rates with a value element, which is normally 0.5% of the gross estate.

 

Disbursements

In addition to our fee the following disbursements are payable: (these are fees related to your transaction that are payable to third parties. We handle the payment of disbursements on your behalf to ensure a smoother process)

• Probate application fee of £273.00 plus £1.50 for additional Grants
• Bankruptcy-only Land Charges Department searches (£2.00 per beneficiary)
• £83.40 post in The London Gazette – Protects against unexpected claims from unknown creditors
• Approximately £120.00 post in a Local Newspaper – This also helps to protect against unexpected claims

Potential additional costs

• If there is no will or the estate consists of any share holdings (stocks and bonds) or an interest in a business there is likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with. We will provide a more accurate quote once we have more information
• Dealing with any liabilities of the estate. We will provide a more accurate quote once we have more information.
• Preparation of tax returns
• Disputes between executors and/or beneficiaries
• Complex or specific issues relating to the estate
• Estates where there are foreign assets
• 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 4 to 6 months. Typically, obtaining the grant of probate takes 8 to 12 weeks. Collecting assets then follows, which can take between 6 to 8 weeks. Once this has been done, we can distribute the assets, which normally take 8 to 10 weeks.