Applying for the grant, collecting and distributing the assets

We anticipate this will take around 5 hours work at £450 per hour plus VAT at 20%. Total costs estimated at £2,000.00 – £2,500.00 plus VAT at 20%. We do not charge a fixed percentage of the estate’s value although we do factor risk into our fixed fees.

The exact cost will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property in the estate, 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. Large estates, where the risk is greater will also be charged more than smaller estates. Estates where beneficiaries live overseas or need to be located will attract additional costs.

We will handle the full process of administering an estate for you. Our quote is based on an estate 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 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, an IHT 205 form rather than a IHT 400 form
• There are no claims made against the estate

Disbursements not included in this fee (where applicable VAT is included at 20%):

• Probate application fee of £273.00 + £1.50 for additional copies of the Grant
• Postage, paper and printing – £50 + VAT (based on 30 – 40 letters)
• Bankruptcy-only Land Charges Department searches – £2 (per beneficiary)
• £128.82 + VAT – Post in The London Gazette plus £7.20 per copy – Protects against unexpected claims from unknown creditors.
• £165.60 including VAT Post in a Local Newspaper e.g. Epping Forest Guardian – This helps to protect against unexpected claims.
• Land Registry Office Copy Entries for any properties included in the estate £3.00 and possible fee if a property is being transferred to a beneficiary.

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.

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 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 or any other grant are required, they will cost £1.50 (1 per asset usually).
• Dealing with the sale or transfer of any property in the estate is not included.
• Property may need to be valued by a Chartered Surveyor (c.£500 including VAT)
• Accountants may need to be instructed to deal with preparing Income Tax and/or Capital Gains Tax returns for estates (£1,170.00 including VAT)
• Wills may be altered via a Deed of Variation – (£540 including VAT)

How long will this take?
On average, estates that fall within this range are dealt with within 6 – 12 months although we try to deal with estates as quickly as possible. Typically, obtaining the grant of probate takes 12 weeks. Collecting assets then follows, which can take between 4 weeks. Once this has been done, we can distribute the assets, which normally takes 2 weeks.

Example

How much does this service cost?

A) Legal fees
• Legal fee £2250.00
• VAT on legal fee £450.00

SUBTOTAL A: £2,700.00 (incl. VAT)

B) Disbursements

• Probate court fee of £273.00
• Bankruptcy-only Land Charges Department searches (£2 per beneficiary).
• £128.82 inc VAT – Post in The London Gazette – Protects against unexpected claims from unknown creditors.
• £165.60 inc VAT – Post in a Local Newspaper e.g. Epping Forest Guardian – This helps to protect against unexpected claims.
• £50 postage and stationery

SUBTOTAL B: £617.42 (incl. VAT)

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.

Total fees including legal costs & disbursements – (Subtotals A + B)

£3317.42

As part of our fixed fee we will:
• Provide you with a dedicated and experienced probate solicitor to work on your matter
• Identify the legally appointed executors or administrators and beneficiaries
• Accurately identify the type of Probate application you will require
• Obtain the relevant documents required to make the application
• Complete the Probate Application and the relevant HMRC forms
• Draft a legal statement for you to sign
• Make the application to the Probate Court on your behalf
• Obtain the Probate and securely send two copies to you
• Collect and distribute all assets in the estate