PROBATE & ADMINISTRATION OF ESTATE FEES

Obtaining a Grant of Representation and dealing with the administration of an estate can be complicated and time-consuming, and every estate is different. This is why we offer two levels of service, so as to accommodate the individual circumstances of as many clients as possible.

​

FEES FOR PROBATE & ADMINISTRATION OF ESTATES

We always try to charge on a fixed fee basis because that provides clarity and certainty to you during the stressful time of dealing with your loved one’s estate. The following are examples of our fixed fees:

 

Fixed Fees 1 (grant only)                                                                                                                                   Price £ (inc. VAT)

Obtaining Grant of Probate only (simple estate/no IHT paperwork involved)                                             1,500.00

Obtaining Grant of Probate only (with IHT paperwork)                                                                                  2,200.00

 

Fixed Fees 2 (full probate service, charged as a % of gross estate value (GEV))                                        Price £

For Straightforward Estate

GEV <= £75,000                                                                                                                                                 £1,875 + 20%VAT

GEV between £75,001 & £200,000                                                                                                                      2.5% + 20%VAT

GEV between £200,001 & £500,000                                                                                                                    2.0% + 20%VAT

GEV between £500,001 & £1,000,000                                                                                                                 1.5% + 20%VAT

GEV above £1m                                                                                                                                                    1.0% + 20%VAT

 

The main difference between a simple estate where we apply for the Grant of Probate for you, is that we rely upon you to provide the valuations of the assets and liabilities for the purpose of getting the grant and then to pay all the debts and get in the assets after the grant has been obtained. This means that you have to deal with the banks, funeral expenses and the likes of HMRC and the DWP.

 

A Straightforward Estate would be where:

• There is a valid Will

• There are no more than 5 beneficiaries

• There is no more than one property

• There are no claims against the estate

• There are no more than 5 bank or building society accounts

• There are no disputes between beneficiaries on division or assets. If disputes arise this is likely to lead to an increase in our fees.

• There is no inheritance tax payable and the executors do not need to submit a full account to HMRC

​

For the ‘full service’ that would be our responsibility. Typically, we use a Schedule of Work which defines what is in and out of scope of the fixed fees for the particular estate and this would be sent to you and agreed with you at the outset of our engagement. Where any work is required outside the scope of the Schedule of Work or becomes more complex than originally anticipated, then it will be charged for separately on a 'time-spent' basis.

​

Charges on a ‘time-spent’ basis will apply to a full probate service in addition if the estate has complexities and not within the definition of a Straightforward Estate and the Assumptions set out below.

​

The hourly rate of the person giving advice will apply. These will range on an hourly rate from  £180.00-£354.00 inclusive of VAT and will of course be agreed with you beforehand.

Please note that a charge will be raised on a pro rata basis if you terminate our instructions early for any reason

 

Assumptions:

We will handle the full process for you based on a number of assumptions which include but are not limited to:

• The person who has died is resident in the UK

• There is a valid Will appointing executors who are UK domiciled and resident

• There are no ambiguities in the will

• All assets are known

• The whereabouts of all beneficiaries are known and they are UK resident

• Any property is residential property and registered in the deceased’s name with H M Land Registry

• There are no intangible assets (e.g. patents, trademarks and copyrights)

• There are no assets abroad

• There are no trusts created in the will

• There are no outstanding creditors of the estate except in relation to the funeral arrangements

• There are no disputes between the beneficiaries or with or between the executors

• There is no need to submit a full Inheritance Tax Account (form IHT400) to H M Revenue & Customs.

• The estate does not have to submit an income tax return on behalf of the estate

• The deceased’s lifetime income was taxed under the PAYE system

• There are no claims made against the estate. 

• The will is not being varied

 

Key Stages

In general terms, the administration of an estate passes through the following key stages:

• Taking your instructions

• Notifying all stakeholders and interested parties of the death of the deceased

• Collating the information and paperwork on the assets & liabilities in the estate

• Applying for the grant of probate

• When received, registering the grant with the relevant asset-holders and stakeholders

• Collecting in the assets & paying all debts

• Preparing the Estate Accounts and agreeing them with the executors

• Making distributions in accordance with the Will or the rules of intestacy

 

Disbursements (where applicable, VAT is included at 20%):

• Probate application fee of £300 (No VAT)

• Copy grants at £2.00 each (No VAT)

• Approximately £200 to £500 plus 20% VAT post in The London Gazette – protects against unexpected claims from unknown creditors but is not needed in every case.

• Approximately £300 to £600 plus 20% VAT post in a Local Newspaper – this also helps to protect against unexpected claims but is not needed in every case.

• AML search fee - £18 per executor and beneficiary (No VAT)

 

Timescales:

On average, dealing with the full administration of an estate takes 6 to 12 months and, within that period, obtaining the grant of probate typically takes 3 to 9 months.

Collecting assets then follows, which can take between 1 to 6 months. Once this has been done, we can prepare the Estate Accounts and distribute the assets, which normally takes another 2 months. All of these timelines are indicative and can vary if the estate is complex or if, for example, HMRC or the DWP decide to make an investigation into the deceased’s affairs.

​

​