Probate Pricing

Thank you for looking at our probate services. Coping with the death of a person can bring a mixture of emotions and the legal side of dealing with a person’s death can often be overwhelming and confusing. Having compassionate, experienced legal advice can make this difficult situation much easier for you and your loved ones.

In order to deal with the affairs of the deceased there is often a need to apply to the Probate Registry for a Grant of Representation. This will be a Grant of Probate where a Will is in existence or a Grant of Letters of Administration if there is no valid will. The Grant of Representation gives the legal right to administer the estate.. We provide guidance to ease the sense of burden when an estate has to be administered.

Why Us

We have an experienced team who can assist you with every aspect of the administration process, advising sensitively on key decisions which need to be made when managing an estate. We are aware that administering an estate comes at a time of grief and high emotion, and that most people do not know the processes and legal requirements involved.

We will give you a clear time frame of how long probate should take and will keep you and any beneficiaries advised throughout.

You will have the confidence that you are our priority. Members of the team will be available to speak with you when you need clarity and certainty at any stage ofthe process. We feel this provides reassurance and gives you an outlet for any concerns that you may have. Fees are generally paid out of the estate, so there may not be a need for you to fund the administration.

We are proud to hold Lexcel and WIQS Accreditations, issued by the Law Society. This involves the firm undergoing a rigorous audit process which ensures we maintain high levels of client care.

Pricing

The fees involved in a probate matter can vary and this will depend on the individual circumstances involved.

We offer a full administration service and also the option for assistance with obtaining the Grant of Representation only.

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Fixed Costs for Grant only Service

We offer a Grant only service which covers the following services:-

  • Provide you with a dedicated and experienced Probate solicitor to work on your matter
  • Identify the legally appointed executors, administrators and beneficiaries
  • Accurately identify the type of Probate application you will require
  • Preparing the Oath
  • Preparing HM Revenue & Customs Inheritance Tax Forms as appropriate including claims for relevant exemptions
  • Applying for the Grant of Representation

You will be required to provide the information and valuations for the Assets and Liabilities of the estate .

Once the Grant of Representation has been issued we will release this to you to complete the estate administration personally.

Our charges for the grant only servicer are:

·£350 +VAT for estates under £325,000 or where all assets are passing to a spouse

·£650 +VAT for estate over £325,000 where an IHT400 return is required.

Fixed Costs for Estate Administration

In relation to full estate administration, our fees are fixed and will be 1.75% of the gross value of the estate plus V.A.T. up to the first one million pounds reducing to 1% thereafter. This is subject to a minimum fee of £1,200 +VAT

This service includes our assistance to deal with and advise you in relation to the following:

  • Provide you with a dedicated and experienced Probate solicitor to work on your matter
  • Identify the legally appointed executors, administrators and beneficiaries
  • Accurately identify the type of Probate application you will require
  • Obtain relevant documents required to make the application
  • Collating information and valuations with regard to the Assets and Liabilities of the estate
  • Preparing the Oath
  • Preparing HM Revenue & Customs Inheritance Tax Forms as appropriate including claims for relevant exemptions
  • Applying for the Grant of Representation
  • Collecting in the assets of the estate and settling any liabilities
  • Arranging the sale/transfer of any assets as appropriate
  • Distributing the estate to the beneficiaries
  • Dealing with administration tax
  • Preparation of estate accounts

Our fees do not include the cost of the following:-

  • Any valuations required, including valuations of the various properties/shares
  • Any legal costs in relation to the sale or transfer of any property/land will need to be separately agreed
  • The cost of dealing with tax deduction certificates, which you may be asked to provide to the beneficiaries for their own tax returns. We can prepare these for you at a cost of £50.00+VAT for each beneficiary.

 

Please also note that any time spent on dealing with foreign assets will be charged at my hourly rate of £177 per hours plus VAT. Our charge for this will be in addition to our fixed fees for dealing with the English assets.

 

xDisbursements (For Both Options)

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees or court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. Not all disbursements will be relevant and executors will have the option to choose whether notices are placed in the press.

Anticipated Disbursements

Item

Amount

VAT

Subtotal

Probate Fee

155.00

  

Office Copies for the Grant of Probate(Per Copy)

00.50

  

Commissioners fees for Swearing Oath of probate

7.00

  

Land Registry Search fee

3.00

  

Bankruptcy Search fee (per beneficiary)

25.00

  

Post in the Local Newspaper (Estimate)

60.00

  

Post in the London Gazette (Estimate)

69.50

  

Inheritance Tax

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

Additional Costs

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.

In the event that additional copies of the Grant of Probate are required, these will be charged at £0.50 per copy.

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.

Exclusions

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 returns for the deceased
  • Tax advice for beneficiaries
  • Valuations for property, savings, investments or other assets

Time Scales

On average, probate for the typical estate will take between 6 – 12 months. Generally, the time taken to obtain the Grant of Probate will take between 2 - 4 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 more complex estates.

Key Milestones

With every transaction there are key milestones, which may vary according to individual circumstances. They may be as follows:

  • Applying for Grant of Probate
  • Obtaining Grant of Probate
  • Settling Liabilities
  • Collecting funds ready for distribution
  • Distributing funds
  • Producing Estate accounts

For further information please call one of our experts on: