Our charges are based on an hourly rate and the amount of work we actually do.
We understand that you may not want us to deal with every aspect of the process. You may wish to carry out some or most of the probate process yourself and we are happy to help you with this approach. For instance, we could limit the work we do to simply making an application for the grant of probate based on the information about the estate that you provide.
The fee we charge will reflect the role we take.
To give you an idea as to the likely costs we have set out below our costs in various situations:
Application for grant only:
from £800 plus VAT (£960)
This service includes:
- Meeting to take instructions
- Preparing inheritance tax return IHT 205
- Drafting the application for the grant
- Obtaining the grant of probate or grant of letters of administration and sealed copies.
Administration of a straightforward estate:
from £2000 plus VAT (£2400)
Typically, this service will include:
- Meeting with you to take instructions
- Valuing assets
- Arranging the payment of the funeral costs
- Preparing inheritance tax return IHT 205
- Drafting application for the grant
- Obtaining the grant of probate or grant of letters of administration and seal copies
- Collecting in the assets
- Paying any known debts and liabilities
- Reclaiming income tax
- Arranging payment of the legacies
- Preparing estate accounts
- Paying income tax for administration period
- Distributing the estate to the beneficiaries
Larger or more complex estates:
from £3500 plus VAT (£4200)
Here the cost will reflect the size and complexity involved. We will provide an estimate of our fees following our first meeting with you so you know the likely costs to be incurred.
The hourly rate that will apply will depend on the person dealing with the matter and these rates are currently as follows:
|£250 plus VAT (£300)|
|£200 plus VAT (£240)|
|£150 plus VAT (£180)|
If you are uncertain as to whether or not a grant of probate is needed or if you have other queries about the process we offer an initial meeting at which we will let you know your options and can explain about the process in more detail. We will then write to you to confirm such advice. If you decide to instruct us to act in the matter then the cost of the meeting will be incorporated in our fee; however, if you do not then our fee for the meeting is £250 plus £50 VAT (total £300).
Any disbursements that we incur in dealing with the matter will also need to be paid by you and this will include the probate application court fee which is currently £155. Other typical costs that are incurred are the cost of conveyancing relating to any property in the estate, cost of searches for wills or insurance for any risk that the estate may need to cover.
The anticipated disbursements which are payable to third parties and in addition to our fees are:-
- Grant of Representation application fee (£155)
- Fee per sealed copy of the Grant of Representation (£0.50)
- Land Registry search fee (£3.60 including VAT per property)
- Bankruptcy search fee (£2 per beneficiary)
- Will search fee (£114 including VAT)
- Statutory advertisements fee (dependent upon location but approximately £250 including VAT)
- Property valuation fee (from £360 including VAT)
- Shareholding valuation fee
- Valuation fee for personal belongings of high value
There are various factors that will affect any Inheritance Tax due on an estate, including the size of the estate and any measures that were put in place by the deceased to limit the estates tax liability.
We do not believe that it would be sensible to attempt to provide at this stage an estimate of any tax that may be payable. We would advise you to look on the HMRC Website to calculate Inheritance Tax which may be due, the calculators can be found at: https://www.gov.uk/guidance/hmrc-tools-and-calculators#inheritance-tax-and-bereavement
In the event that there is no Will or the estate consists of any share holdings (Stocks and Bonds), there is likely to be an additional cost that could range significantly depending on the estate and how it is to be handled. We will discuss this with you in detail and advise of any additional fees.
The cost of selling or transferring a property is not included in this price, if you require this service, please let us know and we will provide you with an estimate in that regard.
Our fees are fixed and include items detailed above, however there may be factors which would typically increase the cost of the fees involved. Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided.
Additional services that will require the assistance of a third party at additional cost include:
- Tax advice
- Valuations for property, savings, investments or other assets
On average, probate for the typical estate will take between 3 – 12 months. Generally, the time taken to obtain the Grant of Probate will take between 3 - 6 months, followed by the collection of assets and distribution of the assets which can take between 4 -12 months. The range takes into account handling everything from straightforward estate through to most complex estates.
With every transaction there are key milestones, which may vary according to individual circumstances. They may be as follows:
- Taking initial instructions from and advising executors/personal representatives
- Obtaining date of death values for all assets and liabilities
- Conducting searches such as a Will search and asset search and placing statutory notices
- Completing the appropriate inheritance tax form
- Preparing a Statement of Truth to be made by the executors/personal representatives
- Applying to the Probate Registry for a Grant of Representation
- Dealing with the assets and liabilities in the estate
- Preparing estate and distribution accounts
- Distributing the estate in accordance with the Will or the rules of intestacy and obtaining receipts
- Finalising any liability for income and capital gains tax during the administration period