We are required to publish prices for probate work in relation to uncontested cases, where all the assets are in the UK. This includes both testate and intestate and taxable and non-taxable estates. However, there are a range of variables which could affect the price quoted (e.g. there is a separate cost for preparing tax returns).
APPLYING FOR THE GRANT, COLLECTING AND DISTRIBUTING OF ASSETS:
We charge an hourly rate between £200 and £240 plus vat which will depend on the level of experience of the solicitor or fee earner dealing with your matter.
We anticipate this will take between 10 and 20 hours work, and we estimate out total costs to be between £3000-£4800 plus VAT.
The exact costs 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. The above estimates are for estates where:
- There is a valid will
- There is no more than one property
- There are no more than 2-5 bank or building society accounts
- There are no other intangible assets
- There are 3-4 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
Where your matter falls outside the above criteria, we would of course be happy to provide a quote based on the specific circumstances the estate once we have your full instructions and relevant information.
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.
Disbursements (not included in our above costs):
- Probate application fee: £155 (plus 50p per additional office copy)
- Swearing of the oath (per executor): £7.50
- Bankruptcy –only Land Charges Department searches: £10 per beneficiary
- Post in The London Gazette and in the Local Newspaper – Protects against unexpected claims from unknown creditors: £150-£400.
Potential additional costs:
- If there is no will or the estate consists of any share holdings (stocks and bonds) there are likely to be additional costs that could range significantly depending on the complexity of 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 £25 (1 per asset usually)
- Dealing with the sale or transfer of any property in the estate is not included.
How long will this take?
On average, estates that fall within this range are dealt within 6-12 months. Typically, preparing papers and obtaining the grant of probate takes 3-6 weeks. Collecting assets then follows, which can take between 6-12 weeks. Once this has been done and statutory advertisements completed, we can then distribute the assets. This normally takes 1-2 weeks.
LARGER ESTATES AND INVOLVING PAYMENT OF INHERITANCE TAX
These will be dealt with usually on an hourly basis. Our hourly rate is between £200 to £240 + VAT. Estimates will be provided as soon as we have a clear idea of the nature and complexity of the task at hand following receipt of comprehensive instructions from our client.