Range of costs
Applying for the grant of probate, collecting and distributing the assets.
We anticipate this will take between 8- and 12-hours’ work and our fees can be in the range of £1,360.00 plus VAT to £2,880.00 plus VAT. The range of fees quoted is wide as this can be affected by the hourly charging-out rate of the team member that deals with the work on your behalf and our current hourly rates range from £170.00 per hour to £240.00 per hour plus VAT.
The exact cost will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property, costs will be at the lower end of the range. If there are multiple beneficiaries and multiple bank accounts, costs will be at the high end.
We will handle the full process for you. This quote and our time estimate are for estates where:
- there is a valid Will
- there is no more than one property
- there are no more than three bank and building society accounts
- there are no other intangible assets
- there are 2 – 4 beneficiaries
- there is no dispute between the beneficiaries or the division of assets. If any 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 (IHT400) to HMRC and there is no claim against the estate
In addition to our costs, extra expenditure (called ‘disbursements’) will be payable:
- Probate application fee of £155.00
- £7.00 – Swearing of the probate oath per executor
- Bankruptcy-only land charges department searches (£3.00 per beneficiary)
Disbursements are expenses related to your matter that are payable to third parties, such as probate court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Potential additional costs:
- £170.00 to £350.00 – Advert in the London Gazette (protects against unexpected claims from unknown creditors) and advert in the local newspaper (this also helps to protect against unexpected claims)
- If there is no Will or the estate consists of any shareholdings (stocks and bonds) there is likely to be additional costs that could range significantly depending 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 of probate are required, they will cost 50 pence per set
- Dealing with the sale or transfer of any freehold and/or leasehold property in the estate is not included
- If you wish us to deal with any liabilities or expenses in respect of utility services or any other outstanding liabilities of the deceased, including any information required by the DWP who may double-check benefits paid out during lifetime, we can provide an estimate of our costs involved. We do have a statutory liability to register the grant of probate with the local authority for council tax purposes in any event
The above example is for a standard case and full specific estimates for your case and the level of the team member from our firm to be appointed on your behalf can be obtained by contacting us.
How long with this take?
On average, estates that fall within this range are dealt with within 6 months. Typically, obtaining the Grant of Probate takes 6 to 8 weeks. Collecting assets then follows, which takes 3 to 4 weeks. However, achieving a sale of the property can take some months and depends on a buyer being found. Once this has been done, we can distribute the assets and obtain receipts, which normally takes 5 to 6 weeks.
More complex cases
More complex cases, including where inheritance tax is payable; where lifetime inheritance tax planning by the deceased is reportable by the executors to HM Revenue & Customs; where certain foreign property owned by the deceased has to be reported to HM Revenue & Customs; and where the deceased may have had an interest in a trust at the date of death which is reportable to HM Revenue & Customs involve much more work and time. Our charging-out rates vary depending on the experience of the member of our team who will carry out the work on your behalf, and that team member will be appropriate to the complexity or otherwise on the matter. The range of our charging-out rates is between £170.00 plus VAT per hour to £295.00 plus VAT per hour, not including disbursements as highlighted in our previous examples above, nor does it include inheritance tax payable or fees dealing with the sale or transfer of any freehold and/or leasehold property in the estate.
Our team members are experienced in such cases and they can provide you with an estimate or quotation following an initial consideration of what work will be required to deal with the administration of the estate.
Please note that we do not charge a percentage based on the value of the estate assets at all in calculating our fees.
Our team will be happy to discuss our fees and services, please call us on 01274 350 800.