Probate & Administration Pricing

When close ones pass away it is always upsetting and an unhappy time for all involved.

The legal processes are often confusing and overwhelming particularly whilst dealing with grief.

The Law can be confusing and may overwhelm when already dealing with the grief.

We can help you through these difficult times.

We can provide:-

DIFFERENT LEVELS OF SERVICE

 

APPLICATION FOR PROBATE (ONLY WHERE THERE IS A WILL)

A Grant of Probate is required often to allow the Estate of the deceased person to be collected and distributed to those entitled to the deceased’s assets.

The Grant of Probate is a document issued by the Court to allow the Executors to administer the Estate.

You may wish to limit your instructions to us applying for the Grant of Probate only.

How much does this cost?

Our fixed fee process will usually be between £395.00 to £750.00 plus VAT plus disbursements.

VAT at 20% amounts to £79.00 to £150.00.

The standard disbursements are:-

  1. Oath fees =   £7.00 per Executor (ordinarily 2 Executors = £14.00)
  2. Court Fee =   £157.50  (including fee for 5 copies of Grant)

Total inclusive of VAT and disbursements

£639.50 to £1,064.50

This price is dependent upon you providing us with the following information/documentation:-

  1. The original valid Will;
  2. A property valuation in respect of any properties;
  3. Valuations of all assets including Bank and Building Society accounts at the date of death;
  4. Any liabilities including funeral costs;
  5. Original Death Certificate

The price also assumes that:-

  1. There are no disputes between the Beneficiaries or the Executors;
  2. There is no inheritance tax payable

(https://www.gov.uk/browse/tax/inheritance-tax)

(https://www.gov.uk/browse/tax/inheritance-tax)

A tax return has to be made whatever the value of the Estate if probate is applied for.

  1. There are no claims to be made or likely to be made against the Estate;
  2. There are no additional issues requiring the completion of a longer form of tax return known as an IHT400

(https://www.gov.uk/government/publications/inheritance-tax-inheritance-tax-account-iht400)

(https://www.gov.uk/government/publications/inheritance-tax-inheritance-tax-account-iht400)

How long will this work take?

Upon receipt of the above information and documentation there is no reason why the application for probate cannot be completed and submitted to the court within 28 days.  Our local Probate Registry will usually grant probate within three weeks or unless there are queries or complications.

APPLICATION FOR LETTERS OF ADMINISTRATION  (WHERE THERE IS NO WILL)

If someone dies without leaving a valid Will the process to allow the family to administer the Estate is very similar to a probate application (see above).  This process is known as an application, again to the Court, for Letters of Administration.  We will advise you on who is entitled to apply for grant of Letters of Administration.

How much does this service cost?

The cost and time period involved in making an application for Letters of Administration are usually the same as making an application for a Grant of Probate.

The fees would be the same or similar to those set out above and dependent on provision by you of the same information.

On occasion, commonly when you are unable to provide the information and documentation referred to above, or where there are other complications, our costs will be likely to exceed the fixed fee.  On these occasions we will discuss matters fully with you and advise you regarding the full extent of our fees before you decide whether you wish to proceed.

ADMINISTRATION OF ESTATE

At other times you will need or want us to administer the Estate which will mean we will need to carry out significantly more work that simply applying for a Grant of Probate or Letters of Administration.  This work may include:-

  • Registration of death;
  • Making funeral arrangements;
  • Valuing estate assets;
  • Identifying estate liabilities;
  • Calculating any inheritance tax due from the estate

(https://www.gov.uk/browse/tax/inheritance-tax)

(https://www.gov.uk/browse/tax/inheritance-tax)

  • Completion of estate tax return;
  • Applying for Grant of Probate/Letters of Administration;
  • Realisation of assets;
  • Arranging for discharge of inheritance tax due;
  • Settling liabilities of the estate;
  • Publishing statutory notices;
  • Identifying/tracing beneficiaries;
  • Bankruptcy searches;
  • Preparing and agreeing estate accounts;
  • Distributing the estate.

How much does this service cost?

We undertake the administration of an estate on a fixed fee scale of between 3% -5% of the gross value of the Estate.  This does not include VAT or disbursements.

The disbursements might include:-

  1. Oath fees;
  2. Court fees;
  3. Valuers fees;
  4. Experts fees;
  5. Enquiry agent fees in tracing missing beneficiaries;

In certain circumstances we can agree a fixed fee below the minimum scale of 3% (e.g. extremely high value estates with few complications).

We will agree the precise percentage fixed fee to be charged as soon as we have all of the information required to establish the nature and composition of the Estate and will advise you of any disbursements to be incurred.

Factors which will be taken into account in determining the percentage fixed fee will include:-

  1. Whether the estate is taxable;
  2. Whether the estate includes properties;
  3. Whether there is a stocks and shares portfolio;
  4. Where the extent of the assets is wide and variable;
  5. Where there is foreign property;
  6. If beneficiaries are missing or have to be traced;
  7. Where there are numerous beneficiaries (particularly where there is no Will);
  8. Where there are or are likely to be claims on the estate

How long will the Estate Administration take?

It is difficult to be precise regarding timescale when administering an estate.  This is often affected by the involvement of third parties such as HMRC, Banks and Building Societies, Stock Brokers, Estate Agents and valuers.

On average it takes no less than 6 months no more than 12 months to complete the work.  We will always provide you with a time estimate at the commencement of work and advise you immediately should any factor(s) impact upon this time estimate.

WHO WILL CARRY OUT THE WORK?

We have a team of lawyers with considerable experience and expertise in dealing with Wills, Probate and Estate administration.  The team is supervised by one of our Partners, Tracey Murray who heads the department.

We provide a down to earth personal service with a team available to help you.