Probate Costs and Services
Applying for the grant, collecting and distributing the assets
We anticipate the total costs are estimated to be £2750 to £4500 (+VAT at 20%) based on our charging rates of between £140 to £260 per hour (+VAT at 20%).
The exact cost will depend on the individual circumstances of the matter. For example, if there is one beneficiary and the deceased did not own a property, costs will generally 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 estimate is for estates where:
- The validity of the Will is not in dispute
- There is one property
- There are 3 bank or building society accounts or less
- There are only 3 beneficiaries and 5 pecuniary legacies or less
- There are no disputes between beneficiaries on division of assets. If disputes arise this is likely to lead to an increase in costs
- Inheritance Tax is not payable and the Executors do not need to submit a full account to HMRC
- There are no claims made against the estate by disappointed beneficiaries
Disbursements not included in this fee likely to be incurred:
Probate application fee of £273 plus £1.50 per copy
UK Bankruptcy – searches (£2 included)
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.
What services are included in this fee?
Based on the estate described above we will:
- Provide you with a dedicated and experienced probate lawyer 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 HMRC IHT205 forms
- Draft a legal oath 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 assets in the estate
Potential additional costs
- If the deceased did not leave a valid Will, the estate consists of any share holdings (stocks and bonds) or the deceased was in receipt of a means tested benefit such as Pension Credit there are likely to be additional costs. We can give you a more accurate quote once we have more information.
- If the value of the estate means that Inheritance Tax is payable there will be additional costs. 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. A sale is likely to attract estate agents fees and legal costs for the conveyancing.
- We may recommend that advertisements in The London Gazette and a Local Newspaper are placed for which we will provide a cost at the time of recommendation. If any of the beneficiaries are located abroad this will require a different bankruptcy search which will usually cost in the region of £270.
- If any assets require valuation by an expert or professional such as stamp collections, classic cars or jewellery.
How long will this take?
Some estates such as in the circumstances described above can be dealt within 5 – 7 months. We will deal with matters promptly as they arise but we cannot control how long third parties such as banks, government departments such as HMRC or DWP and the Probate Registry may take to deal with our correspondence.
We would normally expect to be in a position to apply for Probate within 2-3 months of our instruction and be in a position to finalise the administration of the estate by collecting the assets and then distributing those within 3-4 months of receiving the Grant of Representation from the Probate Registry.
Due to the risk of a claim being made against the estate we will sometimes recommend that the estate is not distributed until ten months after Probate has been granted.