Probate

Grant only fees

We provide a limited service to obtaining the Grant for you to then administer the estate on your own accord. Our typical fees are:-

• £1,950 plus VAT plus disbursements where the estate is simple and a IHT205 is to be completed.

• £2,950 plus VAT plus disbursements where the estate is simple and a IHT400 is required to be completed.

Administration fees

Costs are dependent on the individual circumstances of the estate (the assets, liabilities, the realisation process, beneficiaries, distribution, conflicts etc.).Generally a simple estate will be one where there is a valid Will and a couple of adult beneficiaries and the estate is solvent with a couple of bank accounts and/or a residential property with no conflicts and no inheritance tax is due where the Form IHT205 applies. An estate such as this will be towards the lower scale of our fees.

Generally a full administration will include:-

• Arranging the valuation of estate assets such as property, shares, jewellery etc.;

• Ascertaining the gross and net value of the estate by contacting various entities such as banks; credit card companies care homes, utility companies;

• Completing the appropriate inheritance tax form; a prerequisite to applying for a Grant;

• Arranging the inheritance tax payment from liquid assets, if required;

• Drafting the Oath/Statement of Truth;

• Applying for the Grant of Probate or Letters of Administration;

• Realising the assets

• Defraying the liabilities from those assets

• Drafting estate accounts

• Accounting to beneficiaries

Our starting fees are fixed at £3,900 plus VAT and disbursements for a simple estate with a gross value not exceeding £350,000. Estate’s with a gross value exceeding £350,000 we work on a fixed percentage agreed dependent on the value of the Estate and complexity of the Estate.

Anticipated Disbursements

• Probate application fee of £155.00 and £1.50 for each additional sealed copy Grant (NB: Court fees and copy Grant fees are subject to change set by the Courts)

• Bankruptcy search (£15.00 per beneficiary)

• £3.00 per copy property title deed required.

• Notice in The London Gazette to protect against unexpected claims from unknown creditors £87.60 (2021 fee). Notice in a local paper (TBA)

Timescale

As each estate is different it is difficult to provide an accurate estimate of how long the administration of the estate will take. In a very simple estate where the IHT205 form is used we would estimate gathering information required for the probate application usually takes no more than 6 weeks*; the probate application process usual takes no more than 8 weeks* and the realisation of the estate no more than 6 weeks* with a further 3 weeks* to conclude with distribution to beneficiaries.

For an average estate we estimate the administration process just over 12 months* which is quite normal.

*Covid-19 has caused huge delays and timeframes may be more as a result.

Extra fees will be incurred for unforeseen work:-

• Disputed estate, assets, liabilities, Will etc.

• Inquiries by the DWP, HMRC, District Valuer etc.

• Deed of Variation

• Trust Deed

• Managing Trusts (including minor or disabled beneficiaries)

Inheritance Tax Planning

The cost will be on a fixed fee basis which will be agreed between us at the time. Worked carried out on an hourly rate is charged at £350.00-£400.00 plus VAT for a senior solicitor; £265.00 plus VAT for a solicitor; £125.00 plus VAT for a trainee solicitor or para-legal