How much will the work cost?
We usually charge an hourly rate for our probate legal services. We anticipate a simple Estate will take between 10 and 30 hours work and would usually cost between £3,000-£9000 + VAT.
The hourly rates of your legal representative and those working on your matter will be provided to you at the outset of your instruction. Our current hourly rates are set out below and are subject to VAT.
|Partner / Senior Consultant||£350 – 425 per hour|
|Consultant||£250 – 300 per hour|
|Junior Consultant||£200 – 250 per hour|
|Paralegal||£150 per hour|
If the matter is complex, then we may charge a percentage of the estate being 0.75% of the value of the properties and 1.5% of the value of the other 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 will handle the full process for you. This quote, as an example, is for estates where:
- There is a valid will
- There is no more than one property
- There are no more than 3 bank or building society accounts
- There are no other intangible assets
- There are 1-5beneficiaries
- 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.
What are disbursements?
Disbursements are costs related to your matter that are payable to third parties, such as court fees, experts fees and counsel’s fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Which disbursements may apply to your matter?
Disbursements included in this fee:
- If the value of the estate is over £5,000 – the Probate application fee is £273
- Extra copy of the probate - £1.50 each
- There’s no fee if the estate is £5,000 or less
- Bankruptcy- only Land Charges Department searches (£9per beneficiary)
- Place a Deceased Estates notice:
- £103.60 + VAT (per notice event)
- £215 + VAT – Local newspaper notice.
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.
- If any additional copies of the grant are required, they will cost £2 (1 per asset usually).
- Dealing with the sale or transfer of any property in the estate is not included.
What we will do for you – key stages
We will handle the full probate process for you including ascertaining the value of the deceased assets and liabilities, preparing the required estate accounts, submitting the IHT accounts to HMRC, calculating the inheritance tax if relevant and completing the probate application.
How long will this take?
On average, estates that fall within this range are dealt with within 3 – 6 months. Typically, obtaining the grant of probate, once submitted, takes 3 – 4 weeks. Collecting assets then follows, which can take between 8 – 16 weeks. Once this has been done, we can distribute the assets, which normally takes 2 – 6 weeks.