Wills & Probate Fees
Should you choose to instruct us you will be provided with a client care letter and terms of business which will set out our costs that we believe you could incur when dealing with the estate. Should a matter arise that is unforeseen, or matter becomes complex and requires additional work we will inform you of this and provide you with revised costs information,
Grant Only Service
This is when there is a simple estate where no inheritance tax is payable. With this service we will only provide a Grant of Probate (or Grant of Letters of Administration). The information is provided by the executors, who will be responsible for dealing with the estate once the Grant has been received.
Our fixed fee grant of probate service includes:
Providing you with a dedicated and experienced probate lawyer to work on your matter
Identifying the legally appointed executors or administrators and beneficiaries
Accurately identifying the type of Probate application you will require
Obtaining the relevant documents required to make the application
Completing the Probate Application and the relevant HMRC forms
Drafting a legal oath for you to swear or statement of truth
Making the application to the Probate Court on your behalf
Obtaining the Probate and providing copies to you
The timescales for this process will take on average 6 to 10 weeks where no inheritance tax account is required. When an inheritance tax account is required then HMRC will be involved and timescales will increase. We will always keep you updated.
Where a simplified estate form is submitted (where an inheritance tax account is not required) our fees will be £550 plus VAT at a rate of 20% (£110)
Where a full estate form is submitted (where an inheritance tax account is required) our fees will be £950 plus VAT at a rate of 20% (£190)
There will also be a Probate Court Fee of £155 per application with a further 50p for each official copy, please note there is no VAT charged to court fees and official copy fees. These fees are the same for a simplified estates and a full estate form.
Full Estate Administration Service
Being an Executor can be a difficult and demanding role. A full estate service will include the following if it is required.
providing initial advice
obtaining the relevant documents required to making the probate application
Preparing the appropriate Probate papers including the tax returns
Making the application to the probate registry on your behalf and obtaining the Probate
Collecting in the estate assets
Paying tax liabilities and legacies
Dealing with HMRC and obtaining appropriate tax clearances
Preparing full estate accounts and tax returns
Distributing remainder of the estate to relevant beneficiaries
On average estates are dealt with within 18 months. Typically, obtaining the grant of probate take 16 weeks the collection of assets can take between 8 to 10 weeks. Once this has been done we can distribute the assets which normally takes between 4 to 5 weeks.
Cost will vary depending upon the type of assets involved, the size and complexity of the estate and terms of the will. The number of beneficiaries, amount of property, any disputes and any inheritance tax issues are examples of how complex the estate is and this in turn effects what the costs will be. If the deceased dies in testate the costs will also be greater.
As a guide our full estate administration fees are £3600-£6000 including VAT at a rate of 20% for a very straightforward estate. For complex estates, fees can exceed 24,000 including VAT at a rate of 20%.
Fees are calculated at an hourly rate of £200 per hour plus VAT at rate of 20% (£40 per hour).
Disbursements may include;
Probate Court Fees of £155 per application with a further 50p for each official copy, there is no VAT attached to these fees,
Bankruptcy Land Charges Department searches (£2 per beneficiary), there is not a VAT charge attached to this fee,
£74.58 including a 20 % VAT rate to place a notice in the London Gazette to protect against unexpected claims from unknown creditors,
There may also be disbursement costs of around £120 including VAT at 20% to place an advertisement in a local newspaper which can also help against unexpected claims.