Tel: Loughborough 01509 238822 | Melton Mowbray 01664 563012

Probate – Price Transparency

Probate Costs 

Where Uncontested and where all Assets are held in the UK

All work undertaken by our Wills, Trust and Probate Department is undertaken by qualified practitioners with extensive knowledge and expertise in that area.

The cost of administering an Estate depend on the individual circumstances of the matter.  A simple Estate with perhaps two Bank accounts and one beneficiary will cost less to administer than more complex Estates.  Our charges are based on the work undertaken at an hourly rate.

Hourly rates vary according to the experience and qualifications of the person dealing with the work and are outlined in our Terms & Conditions of Business.

All charges are subject to the addition of VAT.

We tailor our services so it is clearly understood at the outset the legal work that we are required to do and any work that the Personal Representatives are willing to undertake themselves.

Examples

Applying for the Grant, collecting and distributing the assets:

We anticipate that this can take anywhere from £700.00 to in excess of £10,000.00 depending upon the circumstances.

It there are, for example, four bank accounts, no property and one beneficiary the fees will be at the lower end of the scale.

If there are however,  multiple beneficiaries, property, multiple bank accounts and other assets the costs could be closer to the higher end of the scale.

The range of quotes above applies where:

  • There is a valid Will.
  • There is no more than one property.
  • There are no more than four Bank or Building Society accounts.
  • There are no other intangible assets.
  • There are between two to four beneficiaries.
  • There are no disputes between beneficiaries on division of assets.  If disputes do arise this is likely to lead to an increase in cost.
  • 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

These are fees that are payable to third parties with regard to the matter.

These vary according to each individual matter but will include some or all of the following:

  • Probate Application fee (£155.00 Nov 2018) plus the cost of copies of the probate where necessary (50p per copy).
  • Swearing of the Oath for executor  (approx. £14.oo for 2 executors).
  • Bankruptcy search for each beneficiary (approx. £2.00 each).
  • Trustee Act Notices placed in the London Gazette and also in local Newspapers (approx. £200.00).
  • Any Land Registry fees with regard to any related property work (where relevant).

Potential Additional costs

  • If there is no Will there are likely to be additional costs in identifying all potential beneficiaries.
  • If the Estate consists of shareholdings.
  • If there needs to be Certainty searches undertaken.
  • Additional costs may be incurred in the transfer or the sale of any property.
  • Timely response of Third Parties in providing information and dealing with matters.
  • If it is necessary to do any Tax Returns either for the deceased or for the administration period.

Duration of your matter

On average Estates falling within the above are dealt with within five to six months.  It can take up to four weeks to value all of the assets in the Estate, preparation of forms applying for the Grant of Probate and completing all necessary IHT forms takes two to three weeks and once applying for the Grant of Probate will take approximately another three weeks.  Collecting assets can then follow, which can take between four to six weeks and completing and approving Estate Accounts and then distributing three to four weeks.

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