What work does the pricing information below relate to?
Below you will find pricing information for probate related matters for in relation to uncontested estates with all assets in the UK.
Why do we provide this information?
We are required by the Solicitors Regulation Authority (SRA) to provide pricing information to potential clients in relation to certain types of work. We encourage our clients to contact us for more detailed information based on their specific situation and needs and not to base any decision solely on price. We strongly believe in the notion 'you get what you pay for' and strive to provide our clients with clear, practical and effective legal advice, a responsive and highly personal service and, crucially, value for money.
How do we charge?
If it is necessary to obtain a Grant of Probate or a Grant of Letters of Administration (the “Grant”) then we are able to assist in a number of ways depending on your individual circumstances. This may be in the extraction of the Grant only, or in connection with the whole/part of the Estate administration and we can provide you with an accurate estimate for our involvement depending on your specific requirements.
Our charges for advising you will depend on a number of factors. However, for illustration purposes, we have outlined our estimate of the total costs for assisting with the full administration of an Estate in the following circumstances:-
- There is a valid Will
- The Executors referred to in the Will are able to act and there is no requirement for Deeds of Renunciation to be executed
- There is one property in the sole name of the Deceased person
- There are no more than 3 bank or building society accounts
- There are no other assets
- There is no Inheritance tax payable and there is no requirement to submit a full account (IHT400 form) to HMRC
- There are no claims against the Estate and no disputes between beneficiaries on the division of the assets. If disputes arise this is likely to lead to an increase in the costs and separate advice may be necessary for the Executors
- There are no more than 2 pecuniary legacies in the Will, no more than 3 residuary beneficiaries and the whereabouts of all beneficiaries are known
- The beneficiaries all have UK bank accounts and are individuals or Charities registered in the UK
Fees are structured on an hourly rate basis. As at 1 November 2019 the range of hourly rates in the Probate, Tax & Trusts team is between £115 and £295 plus VAT.
We anticipate our costs estimate for the full administration of an Estate as described above will be between £3,500 and £6,000 plus VAT and commonly incurred expenses, such as those indicated below:-
|Probate Registry fee (for issuing the Grant)||£155.00 (No VAT)|
|Unclaimed Assets Register Search fee||£25 (including VAT)|
|Bankruptcy Searches against each beneficiary prior to a payment being made to them||£2 per name searched (no VAT)|
|Statutory Advertisements (based on adverts being placed in the London Gazette and one local paper)||£100-200 (including VAT)|
Some of these expenses will be payable prior to submitting the application for the Grant. There may also be other expenses such as valuation fees and, if applicable, we will advise you accordingly.
The following factors are likely to lead to additional cost:-
- If the Will appoints the firm (or successor practice) to act as Executors
- Visiting the property and completing a document search
- Arranging the buildings insurance and clearance of the property
- Registering the death and arranging the funeral
- Interim distributions to residuary beneficiaries
- Dealing with the sale or transfer of any property in the Estate
- Advice in relation to Capital Gains Tax and any steps to mitigate gains
- Completion of lifetime or Estate Income Tax Returns
- Liaising with Pension Trustees in connection with Death in Service Benefits or ongoing Pension payments
- Liaising with the Department for Work and Pensions Recovery from Estates Debt Management Department
- Dealing with any Trusts that are deemed to form part of the Deceased’s Estate for Inheritance Tax purposes
The timeframe for assisting you with the administration of the Estate outlined in this illustration will depend on a number of factors. We will be in close contact with HM Revenue & Customs, HM Courts & Tribunals Service and all of the financial institutions relevant to the Estate to ensure that the administration of the Estate progresses as quickly as possible.However, obtaining the Grant and administering an Estate typically takes at least 6 months, depending upon the assets involved.If the Estate is complex or there is property to be sold, it can take longer than that and we will be able to provide guidance based on the particular circumstances of an Estate.
Who will be advising you?
Matters will be handled by an appropriate member of our Probate, Tax & Trusts team under the supervision of a partner or senior member of the team.
Who to contact for further information or legal advice?
Please contact us for more detailed and specific information.