The collection and distribution of money, property and other assets belonging to a person following their death, where these are within the UK and the matters are not contested;
- We charge on average a fixed fee of £2100.00 (incl. VAT) & Disbursements for work up to and including the Grant of Probate/Letters of Administration where the Gross Estate is estimated up to £325,000.00
- We charge on average a fixed fee of £3300.00 (incl. VAT) & Disbursements for work up to and including the Grant of Probate/Letters of Administration where the Gross Estate is estimated as being above £325,001.00
- These estimates are just an average price based on recent instructions; the actual cost to you will depend on a number of factors which we will discuss with you if you decide to instruct us.
- Post Grant of Probate/Letters of Administration our fees will be charged on our average hourly rate of £295.00 +VAT & disbursements, which will vary, with a mark-up of up to 1.5 % of the value of the Gross Estate. On average depending on the size of the Estate we would estimate that post Grant work will take between 8-12 hours. All billable time will be recorded and regular time updates as to fees will be provided.
- There will be costs on top known as Disbursements-see below.
- Our costs are based on the assumption that:
- the estate is relatively simple,
- all based in the UK
- that there are few, if any, assets that would complicate the process or lengthen our time estimates.
- there is a valid will
- there is no more than one property
- there are no more than 1 to 3 bank or building society accounts
- there are no other intangible assets
- there are 1 to 3 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 are no claims made against the estate
- Our people involved in doing the work will be our Private Client Team-click here
click here if you wish to instruct us on your matter.
OTHER IMPORTANT INFORMATION
- There will be costs on top of our fees above and are usually payable to third parties, such as:
- Probate application fee of approx £155.00 [Note: The Government are planning to significantly increase their Probate fees in 2019 – we will update this section once a date has been set.]
- £7.00 to £10.00 Swearing of the oath (per executor)
- Bankruptcy-only Land Charges Department searches (£2.00 per beneficiary)
- £93.00 to £95.00 Post in The London Gazette – Protects against unexpected claims from unknown creditors.
- £450.00 to £500.00 Post in a Local Newspaper – This also helps to protect against unexpected claims.
Work carried out
- We understand the stress and emotion surrounding a recent bereavement. The work we will carry out will involve
- Ascertain the legally appointed executors or administrators and beneficiaries.
- Applying for a grant of probate or letters of administration, including HMRC forms (approximately 6-8 weeks)
- Obtaining the Grant of Probate and securely providing copies to you
- Ascertaining and collecting in the assets comprised in the estate (6-8 weeks thereafter)
- Ascertaining and paying any tax on the estate (approximately 2-4 weeks thereafter)
- Deciding upon and executing distributions of the estate in accordance with the will or intestacy rules (approximately one month thereafter)
- Obviously, our fees do not include any external costs and charges that we may incur as part of the administration (eg. tax, penalties, repayable benefits, fees and charges). You will also be responsible for these items on behalf of the estate.
Potential additional costs
- If there is no will or the estate consists of any share holdings (stocks and bonds) there are likely to be additional costs. This will depend 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 50 pence per copy.
- Dealing with the sale or transfer of any property in the estate is not included and will be separately quoted.
How long will this take?
On average, a straightforward Estate can be dealt with within 4 to 6 months.
It is not possible to provide a time estimate on more complex Estates.
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