The following provides a guide to our fees in relation to us applying for a Grant of Probate, collecting and distributing assets. Please note that these prices are for illustrative purposes only – for a detailed estimate please get in touch.
We anticipate that the process will take between 8-15 hours work at £250 per hour (Solicitor) or £200 per hour (Chartered Legal Executive). Total costs are therefore estimated at £2,000 - £3,750 + VAT (solicitor) or £1,600 - £3,000 + VAT (Chartered Legal Executive).
The exact cost will depend on the individual circumstances of each matter. For example, if there is only 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. Our fee quote is based upon the following assumptions:
- there is a valid will
- there is no more than one property
- there are no more than 8 bank or building society accounts
- there are no other intangible assets
- there are no more than 6 beneficiaries
- there is no trust set up by the will – if there is, a deed of variation might be desirable which will increase costs, or there might be additional costs associated with operating or terminating the trust
- 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
Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of disbursements on your behalf to ensure a smoother process. They include:
|Probate court fee||£155.00|
|Swearing of the oath||£7.00 per executor|
|Bankruptcy-only Land Charges Department searches||£2.00 per beneficiary|
|Posts in the London Gazette and a local newspaper*||£250.00 (including VAT)|
* to protect against unexpected claims from unknown creditors - combined total varies but average is approximately £250
Potential additional costs
Circumstances which may lead to additional costs include:
- 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
- additional copies of the grant, if required, will cost 50p each (usually 1 per asset)
- dealing with the sale or transfer of any property in the estate is not included
- deeds of variation, where required, are not included
- the administration and / or termination of a will trust, where the will provides for this, is not included
- if the size or nature of the estate is such as to require a full Inland Revenue Account in Form IHT 400 (which is the document required to be completed by HM Revenue and Customs and submitted at the time of the application for the grant of probate/administration), additional costs will be incurred either by us or in appropriate cases by an external accountant
The information above provides an illustration of the average costs, key stages and anticipated timescales involved with these types of matter. However, each case is unique and there will be occasions when exceptional circumstances add to the complexity and time taken to reach a conclusion. In these situations, our fees may exceed those quoted above. We will always keep you informed of any change in circumstances and explain what we are doing to minimise any associated impact on timescales and costs. We will notify you in advance if we need to exceed an original estimate.
Common Questions & Answers
How long will the process take?
The executors of an estate are not legally obliged to distribute the residue before the expiry of 1 year from the date of death. However, on average, estates that fall within this range are completed within 6 - 9 months. Typically, obtaining the grant of probate takes 6 - 10 weeks. Collecting assets then follows, which can take between 4 - 6 weeks. Once this has been done, we can prepare estate accounts for the approval of the executors, which takes between 2 - 3 weeks. Upon approval of the estate accounts we can distribute the assets, which normally takes 3 - 4 weeks, provided the statutory notice period of 2 months has expired and there is no reason (such as an unresolved tax issue or a claim against the estate by an individual or the Department for Work and Pensions) why distribution should be delayed.
The above timings are given on the understanding that we receive all of the information in a timely manner to enable us to progress mattes.
Who will be handling my matter?
As soon as you have instructed us, we’ll provide you with a client care letter introducing you to the member of our team who will be acting on your behalf. Click here to meet our Lifetime Planning Team and find out more about us.