Full Probate Service – Applying for the grant, collecting and distributing the assets
Our charges for dealing with the administration of the estate are in accordance with Law Society Guidelines which take into account the amount of time we spend dealing with matters and also the value of the estate which is a reflection of the importance of the matter and, consequently, the responsibility to the firm. Our hourly charges are a maximum of £180 per hour. Our charges are based on the total value of the estate and depend on whether the firm is an Executor for the deceased.
Where the firm is a not Executor of the Will the following charges apply:
i) Total value of Estate less the value of the residential property 1%
Residential property 0.5%
Where the Firm is an Executor of the Will the following charges apply:
ii) Total value of Estate less the value of the residential property 1.5%
Residential property 0.75%
There is also generally a maximum charge of £18.00 for every letter sent and £9.00 for every letter received.
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. Estates which are in the lower end of the cost range would be a simple matter where the following may be applicable:
- There is a valid will
- There is no more than one property
- There are no more than 2 bank or building society accounts (dependant upon balance at date of death)
- There are no other intangible assets
- There are not more than 5 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 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 included in this fee:
- Probate application fee of £161.00 (including cost of 4 copies)
- Bankruptcy-only Land Charges Department searches (£2 per beneficiary)
- £123.88 Post in The London Gazette – Protects against unexpected claims from unknown creditors.
- £54.43 Post in a Local Newspaper – This also helps to protect against unexpected claims.
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. Any other disbursements payable will be communicated to you in writing.
Potential additional costs
- If there is no will or the estate consists of any share holdings (stocks and bonds) 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.
- Dealing with the sale or transfer of any property in the estate is not included.
How long will this take?
On average, estates that fall within this range are dealt with within 3-6 months. This timescale depends upon how quickly we receive information pertaining to the estate from the parties involved. Instruction to finalisation of the Estate, in a straight forward matter, would fall within the timescales stated above.
Example of Our costs
Costs Example:- The Firm not Executors
|Residential property||£200,000||Probate Court Fee and copies:||£160.00|
|Bank Accounts||£100,000||Legal Notice Fee London Gazette:||£104.52|
|Inheritance Tax||N/A||Legal Notice Fee Local Paper:||£54.43|
|Oaths for Executors Fees:||£7.00 per Executor|
|Bankruptcy Search Fees||£2.00 per beneficiary|
Estimated Total Cost £2750 – £3500 + VAT and disbursements as set out above.
(depending upon amount of work done)
Fixed Fee Probate
We can help Executors through this difficult process by simply obtaining the Grant of Probate on their behalf for £425.00 + VAT (if there is no Inheritance Tax payable). There will be disbursements associated with this application which are detailed below:
- Probate court fee of £155.00 plus £1.50 per extra copy.
- £118. Post in The London Gazette – Protects against unexpected claims from unknown creditors. If required by the Executor.
- £54.43 Post in a Local Newspaper – This also helps to protect against unexpected claims. If required by the Executor.
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.
We can for an additional cost also undertake the collecting and distributing of assets. (This would incur extra charges – see charges above)
As part of our Full Probate service we will:
- Provide you with a dedicated and experienced probate solicitor or Fee Earner 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 Probate and securely send copies to you
- Collect and distribute all assets in the estate
- Provide full Estate Accounts to the Executors and Residuary Beneficiaries to provide a transparent record of the liabilities and assets of the estate.
- We can also deal with the sale of any residential property (this would incur a Conveyancing Charge in addition to the fees for the administration of the Estate