Estates less then £325,000
CLEAR & TRANSPARENT
The exact cost will depend on the individual circumstances of the matter, and in all cases the estimate of costs will be agreed with you before we start the work.
For estates where a full Inheritance Tax return is not required and it is an uncontested estate administration, we anticipate the time that we will spend in dealing with this for you this will be between 5 to 20 hours work.
The rates charged by us depends on the experience and level of lawyer working on your case, the hourly rate for a senior solicitor is £250 per hour plus VAT through to our probate executives £175 per hour plus VAT.
Our charges will therefore be between £1,250 and £5,000 plus VAT depending upon the complexity of the matter and which members of our team carry out the work.
VAT is currently charged at the rate applicable at 20%.
In addition to our charges, certain costs will be payable to third parties, which are called 'disbursements'.
Examples of the common disbursements payable in connection with obtaining a Grant of Probate are:
Probate application fee of £155
£5-7 Swearing of the oath (per executor)
Land registry searches £3
£150 Post in The London Gazette – Protects against unexpected claims from unknown creditors.
£150 Post in a Local Newspaper – This also helps to protect against unexpected claims.
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 other intangible assets
There are 2-4 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 is no inheritance tax payable and the executors do not need to submit a full account to HMRC
There are no claims made against the estate
Potential additional costs
Dealing with the sale or transfer of any property in the estate is not included.
If there are assets that require specialist valuation, then this will incur additional cost;
If there are overseas assets;
If the estate involves complex tax issues, then specialist tax advice will be required and additional costs will be incurred;
If there are Trusts to administer in the Will.
How long will this take?
On average, estates that fall within this range are dealt with within 3-5 months.
Typically, obtaining the grant of probate takes 6-8 weeks. Collecting assets then follows, which can take between 3-4 weeks, (excluding dealing with the sale of any property).
Once this has been done, we can distribute the assets, which normally takes 4-8 weeks.
Although in some circumstances we advise (in order to protect the executors against third party claims) that the estate assets are not distributed earlier than 10 months from the date of Grant of Probate.
In all cases we will always update you throughout the case, so you know exactly the likely time frame as to when the estate is likely to conclude.