Fixed Fee Probate – if the estate is under £325,000 and there is no Inheritance Tax to Pay
We can help you through this difficult process by obtaining the Grant of Probate on your behalf. We will also undertake the collecting and distributing of assets.
Basic Costs Range
- Where there is a Will the following fees basic fees are charged:
- Estate with up to 1 property and up to 4 accounts - £1,700 + VAT
- Estate with up to 1 property and 4 to 10 accounts - £2,500 + VAT
- Where there is no Will our basic fees are:
- Estates with up to 1 property and up to 4 accounts - £2,000 + VAT
- Estates with up to 1 property and 4 to 10 accounts - £2,800 + VAT
If the Estate comprises of multiple beneficiaries and the deceased owned stocks and shares, the following additional charges apply:
Fee scale in relation to number of stock holding/ shares
Additional fee as follows:-
- 1 to 3 shareholdings - £100 + VAT
- 3 to 5 shareholdings - £200 + VAT
- 6 plus shareholdings - £300 + VAT
Fee scale in relation to the number of beneficiaries
Additional Fee as follows:
- 3 to 5 beneficiaries - £100 + VAT
- 6 plus beneficiaries - £250 + VAT
The above fees do not include disbursements. Disbursements are expenses related to your matter that are payable to third parties, such as court fees.
Disbursements:
- Probate court fee of £273.
- £1.50 for each office copy of the Grant required (usually 1 per asset)
- £10 swearing of the oath (per executor).
- £80 placing a deceased estates notice in The Gazette – Protects against unexpected claims from unknown creditors.
- There may be additional disbursements and incidental expenses for example if there are lost share certificates, share registrar fee on sale/transfer of shares. We will let you know of any such additional disbursements.
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 oath for you to swear
- Make the application to the Probate Court on your behalf
- Obtain the Grant of Probate
- Collect in all assets and administer and distribute the assets
On average, estates that fall within this range may be dealt with within 6 months provided there are no delays in finding and identifying the beneficiaries. Typically, obtaining the grant of probate takes 8-12 weeks. Collecting assets then follows, which can take between 4-6 weeks. Once this has been done, we can distribute the assets, which may take 4-6 weeks.
Estates valued at £325,000 and above with a Will and no inheritance tax to pay
Range of Fees
Our fees for dealing with estates in this range are based on an hourly rate. The work is undertaken by either an associate solicitor or a senior associate solicitor, depending on complexity. Our current hourly rates range from £175.00 to £375.00 per hour plus VAT
Completing the administration of a less complex estate could take between 12 and 50 hours at £225.00 per hour plus VAT. Total costs estimated at £2,300 – £9,500 (+VAT). However if the matter is complex more time will be required to undertake the work and be undertaken by a senior associate at a rate of £375.00 per hour plus VAT. We will discuss this with you during the process.
The exact cost will 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, at least one property and multiple bank/building society accounts, costs will be at the higher end.
We will handle the entire process for you.
The above quote relates estates where:
- There is a valid will
- The Estate is valued at over £325,000 but there is no Inheritance Tax to pay
- There is one property
- There are no more than 3 bank or building society accounts
- There are no other intangible assets
- There are 1-3 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 are no claims made against the estate
Disbursements
Disbursements are not included in the above fee, these are additional costs at the following rates:
- Probate application fee of £273
- £10 swearing of the oath (per executor)
- £80 placing a deceased estate notice in The Gazette – Protects against unexpected claims from unknown creditors.
- There may be unforeseen disbursements to be expended details of which we will advise you of if and when they arise.
Estates valued at £325,000 and above where there is no Will and no inheritance tax to pay
If the deceased died without leaving a will, this means there is an intestacy. Dealing with an intestate estate is more complex and time consuming, particularly where the estate consists of shareholdings (stocks and bonds), real properties and multiple beneficiaries to be located and identified. Our fees will be based on the range of hourly rates stated above. We can give you a more accurate quote once we have more information.
Sale or transfer of Real Property comprised in the Estate
The above quotes do not include dealing with the sale or transfer of any freehold or leasehold properties in the estate. We will be happy to provide you with a quote in this regard.
How long will this Take
On average, estates that do not have any property to sell with a Will and no inheritance tax to pay and the Executors and the Beneficiaries all live in the United Kingdom are dealt with within 8 months. Typically, obtaining the grant of probate takes 3 to 4 months. Collecting assets then follows, which can take between 4 to 12 weeks. Once this has been done, we can distribute the assets, which normally takes 2 to 4 weeks.
Estates that are more complex and subject to Inheritance Tax will take longer to obtain the Grant of Probate. Estates that require a property to be sold will also take longer to distribute the assets.