It is difficult to say with exact accuracy what the exact costs of a matter will be as each case is different. However, below is some information on the range of costs typically seen in probate matters:
Probate – full administration
We anticipate that probate matters where we are assisting with the administration of the estate will take between 5 and 20 hours of work at £200 per hour. We also charge a value element of up to 0.5% plus VAT of the value of any property and 1% plus VAT of the gross value of the remainder of the estate. We estimate that the total costs for this type of matter will be in the region of £2,000-£8,000 plus VAT and disbursements.
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 and may even exceed the estimate.
We will handle the full process for you. The above range of costs is for estates where:
• There is a valid will
• The executors are lay executors
• 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 no more than 5 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
Disbursements not included in this fee:
• Probate application fee of £155 plus 50p for each Court sealed copy of the Grant (1 per asset usually)
• £7 Swearing of the oath (per executor)
• Bankruptcy-only Land Charges Department searches (£2 per beneficiary)
• £200-£300 an advert in The London Gazette and in a local newspaper – This helps to protect against unknown creditors and unexpected claims.
Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Examples of when there would be potential additional costs (this list is not exhaustive)
• No valid will
• Shareholdings (stocks and bonds)
• Dealing with the sale or transfer of any property
• Trusts
• Overseas assets
There are 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.
How long will this take?
On average, estates that fall within this range are dealt with within 9-12 months. Should you decide to wait before distributing in case any claims may arise this will increase to between 12-18 months. Typically, obtaining the grant of probate takes 3-6 month. Collecting assets then follows, which can take between 3-6 months. Once this has been done, we can distribute the assets, which normally takes 4-8 weeks. The exact time will depend on the individual circumstances of the matter.
Probate – fixed fee grant only
We can help you through this difficult process by obtaining the Grant of Probate on your behalf. If you are happy to gather together information to establish the value of the estate and deal with the distribution of the estate without our assistance and merely need assistance in applying for the Grant we offer a fixed fee service.
How much does this service cost?
TOTAL: fixed fee of £500 plus VAT if there is no inheritance tax to pay and the short IHT205 form can be used
This includes: preparing the probate application including the inheritance tax form and obtaining the grant.
Disbursements not included in this fee:
• Probate application fee of £155 plus 50p for each Court sealed copy of the Grant (1 per asset usually)
• £7 Swearing of the oath (per executor)
Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
As part of our fixed fee we will:
• Provide you with a dedicated and experienced probate practitioner to work on your matter
• Identify the legally appointed executors or administrators
• Accurately identify the type of Probate application you will require
• Complete the Probate Application and the relevant HMRC forms
• Draft a legal oath for you to swear
• Make the application to the Probate Registry on your behalf
• Obtain the Probate and securely send copies to you
On average, estates that fall within this range are dealt with within 2-3 months. Typically, obtaining the grant of probate takes 6-8 weeks once you have provided the relevant information to us.