Every case turns on its own facts, but we wish to be as transparent as possible in respect of our charges. The following is however subject to the circumstances of the individual case and the actual charges will always be discussed and agreed with you at the outset.
Applying for the Grant of Representation, collecting and distributing the assets
We anticipate this will take between 8 and 20 hours work at £250 per hour. Total costs for a typical case are estimated at £2000-£5000 (+VAT) exclusive of disbursements (see further below).
(please note VAT charged at 20%)
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, properties, bank accounts, or other investments costs will be at the higher end.
The most complex cases could exceed the figures above and will be estimated on a case by case basis. Please contact us for details.
The services provided include the collection of the figures required for the completion of the Inheritance Tax account which is appropriate in the circumstances, the submission of that form and the payment of any Inheritance Tax due (utilising the deceased’s assets) and then the drafting of the document to forward to the court to obtain the grant of probate or letters of administration.
We will, after the obtaining of the grant, collect in the funds of the estate, pay any outstanding liabilities, draft the estate accounts and then distribute the estate. Further fees may be incurred by a stockbroker/accountant in respect to the sale of shares or consideration of income tax or capital gains tax implications to the estate – such fees would incur VAT and would be approved by you in advance.
Note that these charges do not include any transactions relating to the assenting, transfer or sale of a property. Separate estimates can be provided in respect of such work.
Subject to the above, we will handle the full process for you. This estimate is for estates where:
- There is a valid will (or no will) with no disputes in that respect
- There are no disputes between beneficiaries on division of assets. If disputes arise this is likely to lead to an increase in costs
- There are no claims made against the estate
Additional disbursements will need to be incurred. 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.
These will include;
- Probate application fee of £155 (plus 50p for each official copy)
There may be other disbursements, depending on the nature of the case, such as statutory notices in newspapers, share dealing charges and administration costs and HM Land Registry fees.
On average, estates that fall within this range are dealt with within 6-12 months. Typically, obtaining the grant of probate takes 8-16 weeks. Collecting assets then follows, which can take between 4-16 weeks. Once this has been done, we can distribute the assets, which normally takes 4-16 weeks.
Complex cases can take longer than these estimates.
Applying for the Grant of Representation, but not otherwise administering the estate
If you need help with obtaining the Grant of Representation but then wish to administer the estate yourself, we can help with that for a fixed fee.
The fee will start from a minimum of £1500 plus VAT depending on the complexity of the matter for administering the Estate and from £850 for obtaining the Grant. See further above for details of the type of cases that would fall at each extreme. There may also be exceptional cases where the complexity demands a fixed fee higher than that stated or where you agree to instruct us on an hourly basis rather than a fixed fee.
Disbursements will also be payable as set out above.
Note that if we are instructed on this basis we will not gather in the assets, pay liabilities or distribute the net estate to beneficiaries. Such services may be available at a further charge if you decide you need help with them later.
We can help
For further information on Uncontested Probate please contact a member of our Wills & Probate Team.