Probate costs and services
For applying for the grant, collecting and distributing the assets, we anticipate this will take between 16 and 24 hours work at the hourly rates shown below. Total costs for our work done on a time basis is estimated at £4,000 - £6,000 (+VAT). We also charge the sum of 0.75% of the value of any property and 1.5% of the value of the remainder of the estate plus VAT.
Please note that VAT is charged at the rate of 20%.
| Title | Hourly rate (without VAT) | Hourly rate (with VAT) |
|---|
| Partners, Solicitors, Consultants, Associates and Legal Executives over eight years qualified | £300 | £360 |
| Solicitors and Legal Executives of over 4 years qualification | £250 | £300 |
| Solicitors, Legal Executives and Licensed Conveyancers (From qualification to 4 years’ experience) | £200 | £240 |
| Trainee Solicitors, Paralegals and other fee earners | £160 | £192 |
| Electronic verification for all parties | £12.50 | £15.00 |
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, a property and multiple bank accounts, costs will be at the higher end.
We will handle the full process for you. This quote is 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 are 2-4 beneficiaries residing within the UK
- 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
Disbursements to be added to this fee:
- Probate application fee of £300.00
- Bankruptcy-only Land Charges Department searches (£6.00 per beneficiary situate in England & Wales)
We handle the payment of the disbursements on your behalf to ensure a smoother process.
Potential additional costs:
- If there is no will or the estate consists of any share holdings (stocks and bonds) or does not fall within the description above there is 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 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.
- £83.40 Post in The London Gazette - Protects against unexpected claims from unknown creditors.
- Approx £95.00 Post in a Local Newspaper - This also helps to protect against unexpected claims.
How long will this take?
On average, estates that fall within this range are dealt with within 3-6 months. Typically, obtaining the grant of probate takes 16-24 weeks. Collecting assets then follows, which can take between 8-12 weeks. Distribution of the estate will depend on all the circumstances and the instructions of the executors.
Estate Administration Process
Below is a guide to the estate administration and probate process that we will carry out for the stated fees.
1. Make initial arrangements
Register the death
A person’s death must be registered within five days. A death certificate is issued upon registration. This is normally carried out by close relatives but we can assist where necessary.
Locate the will
If you cannot find your loved one’s will we can advise you on what to do.
Arrange the funeral
You can arrange a funeral before going through probate. Banks and building societies will normally release money from the bank account of someone who has died to pay for their funeral. We can assist with this if necessary.
Care for the estate
Executors and estate administrators are responsible for looking after estates for beneficiaries and any creditors, so it is important to preserve assets as well as possible and we can provide assistance in this regard.
2. Value the estate
An estate must be valued before applying to the Probate Registry for a Grant of Probate.
The value of an estate takes into account debts as well as assets. Executors are legally responsible for making every effort to locate unknown creditors as well as beneficiaries of a will. It is very important that executors keep accurate estate accounts.
We offer you legal protection by ensuring these duties are carried out correctly.
3. Complete an Inheritance Tax form
Once an estate has been valued an Inheritance Tax form must be completed. Inheritance Tax is due by the end of the sixth month after a person has died.
IHT of 40% is payable on estates above the £325,000 threshold, unless assets have been left to a spouse, civil partner, charity or amateur sports club.
We would normally complete the relevant documentation on your behalf.
4. Apply for a Grant of Probate
We will make the application through the Probate Service online portal.
5. Settle debts and taxes
Once the Grant has been received we will move towards realising the assets and dealing with liabilities.
6. Share the estate amongst beneficiaries
Once accounts have been approved by the Executors we will arrange distribution of the estate in acco0rdance with the Will or Intestacy Rules.