We anticipate this will take between 6 and 16 hours work at £185 per hour and our fees will be between £1,000.00 and £3,000.00 plus VAT and the necessary disbursements mentioned below.
The exact cost will depend on the estate circumstances and we will provide you with a “bespoke” costs’ estimate at the beginning of the matter. For example, if there is one beneficiary and no property, the costs will be at the lower end of the range. If there are multiple beneficiaries, a property, and multiple bank accounts, the costs will be at the higher end.
We will handle the full process for you. The above estimate is for estates as specified above where there:
- is a valid Will
- is no more than one property
- are no more than 5 bank or building society accounts
- are no more than 5 beneficiaries
- are no disputes between beneficiaries on the division of assets. If disputes arise this is likely to lead to an increase in costs
- no claims made against the estate
- there are no foreign assets
The likely required disbursements for such specified estates are:
- Probate Court fee currently £155.00 plus £1.50p per extra copy Grant
- Bankruptcy-only searches (£2.00 per beneficiary)
- Statutory Advertisement in The London Gazette to protect against unexpected claims from unknown creditors currently £97.20 (inclusive of VAT).
- Advertisement in a Local Newspaper for the same reason estimated at £72.00 (inclusive of VAT).
(“The basic Probate disbursements”)
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.
Additional costs and disbursements for the above estates
- If there is no Will or the estate consists of any share holdings (stocks and bonds) there are likely to be additional costs which 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 the deceased person was a self-assessed income tax-payer, Accountants’ fees may be incurred to finalise the income tax position to the date of death and we will have additional costs in dealing with this.
- If any property whose title is already registered at the Land Registry is to be transferred into the name(s) of a beneficiary, a Land Registry fee dependant on the value of the property will be payable; additional costs and a Land Registry fee will be incurred if the title to the property is unregistered so that a Land Registry first registration of title application is required.
- Dealing with any Department of Work and Pensions (DWP) enquiries beyond the provision of basic information as to the estate assets. (If the deceased person received any form of means tested benefits, the DWP will ask the personal representatives for details of the estate assets and compare them to those declared at the time of the benefit application and may raise further enquiries if there is any discrepancy between the two)
- Conveyancing fees for the sale of any property in the estate are not included and we will provide a separate costs’ estimate for this.
Our additional costs will be charged in accordance with our hourly rate quoted above plus VAT and we will advise you of the amount of any additional disbursements before they are incurred.
Timescale for the above estates
The obtaining of the Grant of Probate and collecting in of non-property assets in the above estates usually takes between 6 to 9 months. Obtaining the Grant of Probate usually takes 8 to 12 weeks from submitting the application but as of October 2021 can take longer due the Probate Registry’s current backlog. Collecting assets then follows, which can take between 4 to 6 weeks. Once this has been done, and the sale of any property has been completed, we can prepare Estate Accounts for your approval as personal representatives, obtain the approval of any required beneficiaries, and distribute the estate, and this part of the process normally takes 2 to 4 weeks. If there is a property to sell, the conclusion of the administration of the estate must await completion of the sale but we can make appropriate interim distributions in accordance with your instructions.
Our included services in connection with the above estates
- Provide you with a dedicated and experienced Probate Solicitor to work on your matter
- Identify the legally appointed Executors or Administrators and beneficiaries
- Accurately identify the type of Probate application required
- Obtain the relevant documents required to make the application
- Complete the Probate Application and the HMRC IHT205 form
- Make the application to the Probate Court on your behalf
- Obtain the Probate
- Collect in the non-property estate assets
- Arrange for the settlement of the funeral account and other liabilities from the estate assets as required
- Provide the DWP with basic information about the estate assets as required
- Prepare an Estate Account dealing with monies we have received and paid out on behalf of the estate for your approval
- Distribute the estate
(“The Probate services”)