Applying for the grant, collecting and distributing the assets
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 anticipate this work will take between 18 and 30 hours work Total costs estimated being between £3,500 and £9,500 (plus VAT at 20%) taking into account the hourly charge out rates of those staff working on your case of between £110 and £310 plus VAT at 20%.
In addition to the above, we charge a compliance fee in regard to identification of each party involved in the matter, which is likely to be £20 plus VAT each , but can vary if for example a foreign jurisdiction is involved.
We will handle the probate 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 three bank or building society accounts
- There are no other intangible assets
- There are no more than three beneficiaries
- All beneficiaries are based in the UK and the deceased had their permanent home in the UK
- There are no disputes between beneficiaries on division of assets or other matters 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 an account to HMRC
- There are no claims made against the estate
This quote does not include completing any tax returns before death and for the administration period, preparing tax certificates for beneficiaries, property sales or transfers, deeds of variation for beneficiaries, dealing with any trusts of which the deceased was a beneficiary at death and trusts set up under the will and associated matters.
Disbursements are costs related to your matter that are payable to third parties, including court fees. We shall ask you to put us in funds to pay disbursements. You can be reimbursed after the Grant of Probate has been issued and there are sufficient funds in the estate. We are then able to handle the payment of the disbursements on your behalf to ensure a smoother process.
Disbursements may include but are not limited to
- Probate application fee of £300 and £1.50 per each additional copy
- Bankruptcy searches (included in the compliance fee as stated above)
- Statutory notices - adverts placed in the London Gazette and a local or national paper to protect against claims from unknown creditors. Average of between £185 and £350. An accurate figure for approval will be given prior to proceeding
- Probate valuation fees ie for property, share holdings, household goods etc will be quoted by the external agent prior to acceptance.
Potential additional costs
If there is no will or the estate includes any share holdings (stocks and bonds), or additional work is required due to technical or other issues with the grant being issued by the Probate Registry, expediting applications and other unforeseen matters, there are 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.
How long will this take?
On average, estates that fall within this range are dealt with within six to eighteen months. Typically, obtaining the grant of probate takes 16-24 weeks. Collecting assets then follows, which can take between three to four months. Once this has been done, distributions can be made to the beneficiaries , which normally takes four to six weeks.
We do not offer fixed fees for our work in these matters. Our charges are simply for time engaged on your matter.