Probate Costs

Please note that the following information is for guidance only.  We will provide you with a formal estimate for the costs involved in administering an estate after an initial consultation with you, once we have all the necessary information to hand relating to the estate.

Applying for the grant, collecting and distributing the assets

We anticipate that making an application for a grant of probate, collecting and distributing the assets will take between 16 and 22 hours work. The level of fees for this work will depend on which fee earner is dealing with the matter and their level of expertise. There are currently 5 fee earners in the department whose rates are as follows:

Jennifer Robinson	Solicitor	£260.00 plus VAT charged at 20%
Stephanie Chung	Associate	£280.00 plus VAT charged at 20%
Sherelle O'Brien	Associate	£285.00 plus VAT charged at 20%
Colleen Dooney	Director	£295.00 plus VAT charged at 20%
Suzanne Porter	Director	£320.00 plus VAT charged at 20%

Please note that these rates change on annual basis and are to be considered in conjunction with the potential additional costs listed further down this page.

The range of fees for junior members is therefore £4,160 plus VAT - £5,720 plus VAT (charged at 20%) and for senior members £5,120 plus VAT - £7040 plus VAT (charged at 20%). 

Wherever possible we try to allocate the work to the most appropriate fee earner with the most suitable level of expertise so that the more straightforward and simple probates are dealt with by fee earners with lower hourly rates of charge.

We will handle the full process for you.  These estimates are for estates where:

• There is a valid will
  
  
• There is no more than one property
  
  
• There are no more than 3 bank or building society accounts
  
  
• There are no other intangible assets
  
  
• There is 1 to 3 beneficiaries
  
  
• There are no disputes between beneficiaries on the division of assets. If disputes arise it is likely to lead to an increase in costs
  
  
• There is no inheritance tax payable and the executors do not need to submit a detailed account to HMRC direct
  
  
• There are no claims made against the estate.
  
  

Disbursements are costs relating to your matter which are payable to third parties, such as Court fees. We will handle the payment of the disbursements on your behalf to ensure a smooth process.

Disbursements likely to be incurred in this type of work which are not subject to VAT:

• Probate application of £273 plus £1.50 per sealed copy
• £100 post in the London Gazette – to protect against unexpected claims for unknown creditors
• £300 to £500 post in a local newspaper – this also helps to protect against unexpected claims and the costs vary depending upon the newspaper in which the notice is printed.

Disbursements likely to be incurred in this type of work which are subject to VAT charged at 20%:

• Land Registry Search Fees - £3.00 plus VAT charged at 20% per search
• Bankruptcy Searches - £2.00 plus VAT charged at 20% per search
• There will be an administrative charge of £8 plus VAT charged at 20% per client/beneficial owner at the outset of the matter in order for us to complete our anti-money laundering checks in compliance with regulatory requirements

Work included

As part of the costs estimated above we will:

• Provide you with a dedicated and experienced probate solicitor or legal executive 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 relevant HMRC forms
  
  
• Draft a legal oath or statement for you to swear
  
  
• Make the application to the Probate Court on your behalf
  
  
• Obtain the probate and securely send two copies to you
  
  
• Collect and distribute all the assets in the estate in accordance with the will

Potential Additional Costs

All of the following factors are likely to increase the costs estimated above (and this could range significantly depending on the estate and how it is to be dealt with):

• If there is no will
  
  
• If the estate consists of any shareholdings (stocks and bonds)
  
  
• If the deceased had an interest in a trust during their lifetime
  
  
• If the estate includes foreign property
  
  
• If the estate includes more than one property
  
  
• If the deceased made lifetime gifts during the 7 years preceding their death which need to be reported to HM Revenue & Customs
  
  
• The estate is insolvent
  
  
• Whether an IHT 400 account needs to be prepared and inheritance tax paid to HM Revenue & Customs
  
  
• Where there is a need to make sure that HM Revenue & Customs files are closed and that matters relating to income tax, benefits agencies and pensions have been sorted out
  
  
• Whether the person who died had an interest in a business or a farm
  
  
• Where reliefs are to be claimed such as transferrable nil rate bands and residence nil rate bands, business property relief, agricultural property relief, spouse exemption and or charity exemptions
  
  
• Where there are more than 3 beneficiaries
  
  
• If the deceased’s financial affairs were not in order when they died
  
  
• If there are any legal disputes (claims against the estate or claims by the estate)
  
  
• Where income tax returns to the date of death are required to be prepared
  
  
• Clearing of a house
  
  
• Arranging insurance for houses and contents
  
  
• Valuations of assets

Please note that this list is not exhaustive.  We can give you a more accurate estimate once we have more information. 

Please also note that:

• If any additional copies of the grant are required they will cost £1.50 (one per asset usually)
  
  
• Dealing with the sale or transfer of any property in the estate is not included.

How long will the process take?

On average simple estates are dealt with within 6 to 12 months, Typically obtaining the grant of probate takes 2 to 3 weeks (but this can take 4-6 months if the probate registry has a backlog of applications), collecting assets then following which can take between 4 to 8 weeks.  Once this has been done we can distribute the assets which normally takes in the region of 2 to 3 weeks.

Team

Our team has over 165 years of collective experience in delivering high quality work in all matters relating to wills and estate administration.  The team has particular expertise in high value estates, trust administration and inheritance tax matters.  We have 5 members of the team who may work on your matter.  Regardless who works on your matter they will be supervised by Colleen Dooney, Private client Operations Director.