We understand that this can be a very difficult and distressing time for our clients and we offer a caring and sympathetic approach.
If we are instructed to deal with the full administration of an estate, we can deal with:
- Registering the death
- Arranging the funeral
- Clearing a property
- Marketing and selling the property
- Contacting the banks and various financial institutions to obtain information regarding the deceased’s assets
- Paying Inheritance Tax
- Collecting in the assets
- Paying debts
- Paying the beneficiaries
We will always advise on any tax implications arising from the death whether by virtue of the Will or on an intestacy.
If you would like a quote for Probate or to find out more about our services, please contact:Jennifer Wilkinson - firstname.lastname@example.org
Ascertaining the values of assets, applying for the grant, collecting and distributing assets
We anticipate this will take between 5 and 15 hours of work at £220 plus VAT (£264 inc VAT) per hour. Total estimated costs will therefore be between £1,100 and £3,300 plus VAT (£1,320 to £3,960 inc VAT) dependent upon the complexity of the case.
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, a property and multiple bank accounts, costs will be at the higher end.
We will handle the full process for you. This quote is for estates where:
- There is a valid Will
- There is no more than one property
- There are no more than 5 bank or building society accounts
- There are no foreign assets
- There are no more than 5 beneficiaries
- There are no disputes between beneficiaries on division of the assets. If disputes arise this is likely to lead to an increase in costs.
- There is no inheritance tax to pay and the executors do not need to submit a full account to HMRC
- There are no claims made against the estate.
Disbursements in addition to this fee:
- Probate application fee £273
- Bankruptcy search fees £2.90 per beneficiary
- Statutory Notices £250-£300 – optional if there is a lay executor, compulsory if we are appointed as executors.
Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursement on your behalf to ensure a smoother process. Disbursements will be payable both when we are instructed to deal with obtaining a Grant only or a full administration..
In addition to our hourly rate, we will charge a percentage of the estate based on the Law Society Guidelines. This charge is 1% of the gross estate plus VAT (excluding the property) and 0.5% of the property value plus VAT.
For example, if an estate comprises of £40,000 in bank accounts and a property worth £100,000, our percentage charges will be £400 plus VAT (£480 inc VAT) and £500 plus VAT (£600 inc VAT) respectively.
Potential additional costs
- If there is no will, or the estate consists of any share holdings (stocks and bonds) or foreign assets or multiple properties, 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 are required, they will cost £1.50 per copy. One copy is usually needed for each asset.
- Dealing with the sale or transfer of the property in the estate is not included.
- If the estate is subject to Inheritance Tax, we will advise you upon any potential Inheritance Tax which will depend upon a number of factors, including the size of the estate and the identity of the beneficiaries.
How long will this take
On average, estates that fall within this range are dealt with within 3-4 months. Typically obtaining the Grant of Probate takes between 6-8 weeks (where there are no shares or bonds and one property). Collecting in the assets then follows, which can take between 4-6 weeks. Once this has been done, we can then distribute the assets to the beneficiaries, which normally takes 2-3 weeks.
Making an application for a Grant of Probate Only
If you simply wish for us to obtain the Grant of Probate then we will charge a fixed fee of £695 plus VAT (£834 inc VAT) plus a Probate application fee of £273. This is on the basis that all of the information regarding the values of the assets is provided to us. This does not include obtaining date of death valuations, closing accounts, collecting in assets or paying beneficiaries. If you require us to carry out any additional work, this would be charged at an hourly rate of £220 plus VAT (£264 inc VAT).
VAT is charged at the prevailing rate which currently 20%.
The fee earners with conduct of probate cases within the practice are:
Jennifer Wilkinson – Solicitor and Head of Department – Date of admission as a Solicitor – 17/08/09
John Wroblewski - Solicitor/Director – Date of admission as a Solicitor - 16/10/95
Sarah Rostamlou-Andrews – Solicitor/Director – Date of admission as a Solicitor – 15/01/08
The Solicitor who deals with your case will be supervised by another of the Solicitors listed above. Details of your Solicitor and their supervisor will be provided to you upon receipt of your instructions.
Our clients say...
Thank you for the great service during our house selling/buying process. It is the 2nd time we have used you for a house move and once again you have been really easy to deal with, efficient, quick to respond to queries etc……So really I just wanted to say thank you to you and the team for making the process nice and stress free (and quick!) for us. It is much appreciated and we will continue to recommend you to friends.
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Excellent service and advice as usual in what proved a slightly difficult case.
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We would like to say a huge thank you for all your efforts during our recent house purchase. Your professional service and constant updates has ensured that the process was as stress-free as possible and for that we are very grateful. We would have no hesitation in recommending your services for the future”