PROBATE FEE STRUCTURE

We can offer as little or as much assistance as clients’ require, there is a package to suit everyone and all delivered by a qualified solicitor and a Trust and Estate Practitioner (TEP) with over 11 years post qualification experience

OPTION 1 – GRANT ONLY

For those happy to deal with the administration on their own but want assistance with completion of legal application to the Probate Registry and completion of the relevant HM Revenue and Customs paperwork in connection with the inheritance tax liability or not of an estate.

The fees quoted below are on the understanding that you the client provide all the necessary information to complete the forms to us. We do not liaise with any third parties for this fee save letters submitting the papers to the two authorities involved.

The fees cover meeting with you for an hour, review of the will and paperwork, advising on the steps to be taken to be able to complete the necessary application, drafting the appropriate Oath and HM Revenue and Customs account, liaising with you to approval, signature and submission of the documents on your behalf.

1.  Excepted Estate – Those within the inheritance tax allowances. Completion of Oath for Probate or Letters of Administration (where someone passes away without a will).
   £1650 plus vat
2. For those estates who require completion of the Oath or Letters of Administration but fall outside an Excepted Estate and therefore need to complete a full inheritance tax account and calculation.
   The fees here will be based on the number of schedules to be completed and whether any claims are being made for relief (Residence Nil Rate Band, Agricultural Property Relief, Business Property Relief being the most common)
   starts from £2750-£3750 plus vat (depending on the number of schedules).

N.B Please note this fee covers only the submission of the account to the Capital Taxes office it does not cover dealing with the return of Trusts or liaising with HM Revenue and Customs to resolve any enquiries raised on the figures provided to them. This additional cost will be advised to you as it arises and would be based on the time spent at our hourly charge with the time recorded.

OPTION TWO – EXECUTOR/PERSONAL REPRESENTATIVE SUPPORT PACKAGE

For those who wish to undertake some of the work involved in the administration we can provide as little or much support as you require. We can create a bespoke package with tasks split between us. This work is undertaken based upon the time spent and charged on an hourly rate only. We do not believe in the value element charged in addition by many firms or incorporated into their fixed fee quotes. You will only pay us for the time we spend.

We will provide you with an estimate of fees up to each stage of administration process so that you can track the costs.

OPTION THREE – FULL ESTATE ADMINISTRATION

This is the service which offers Executors complete support and the outsourcing of the day to day dealing with the administration. We will advise you on the will or intestacy and the administrative steps that need to be taken in connection with the estate in question, it’s value, asset base and the beneficiaries. This typically involves valuing the estate for you to include trusts and any foreign property, management of properties,  the completion of all the necessary applications for probate and submission of the HM Revenue and Customs account together with advise as to the tax to be paid, lodging will searches and Trustee Notices as instructed, liaising with all third parties on your behalf, collect or transfer assets, pay liabilities, pay legacies, liaise with the beneficiaries, report to HM Revenue and Customs in connection with all taxes to obtain the necessary clearances, deal with interim distributions and once final clearance of taxes and debts has been obtained prepare final estate accounts for distribution of the estate. We take the stress and headache away. We will liaise with you and report to you at key stages to obtain your approval as Executors and Personal Representative.

As previously stated, this work is undertaken based upon the time spent and charged on an hourly rate only. We do not believe in the value element charged in addition by many firms or incorporated into their fixed fee quotes. You will only pay us for the time we spend.

We will provide you with an estimate of fees up to each stage of administration process so that you can track the costs.

ESTIMATED FEES

It is difficult to provide an indication as to the time likely to be spent owing to the variables in each administration e.g number of assets across institutions, whether there is a property to be managed, foreign property, number of beneficiaries and third parties to be addressed. Quotes provided will be case specific.

An excepted estate with a will of no more than 6 assets all UK based, some legatees and four main beneficiaries with outright inheritance and no trusts should take between 10- 12 hours to complete.

More complicated Estate with numerous assets, trust, full inheritance tax accounts could take anywhere from 15 hours upwards

TIMESCALES

Executors have an administrative year for a reason. This allows them time to deal with all aspects of the administration and to obtain the necessary clearances from creditors and all government bodies)

Fixed Fee options –

1. After submission of the application for probate to the Probate Registry and Excepted Estate normally receives their grant within 16-20 weeks dependent upon the court workload
2. For those submitting the full inheritance tax account it can take HM Revenue and Customs 8 weeks to review and send the receipt to be forwarded with the Probate application to the Probate Registry. As above once received by the Probate Registry the Grant should then follow within 16-20 weeks.

Full administration-

A simple excepted estate will take between 6 – 8 months

A tax paying estate will take between 8 – 10 months.

PROPERTY TO SELL?

While we do not personally offer conveyancing services we do work closely with several solicitors offering this service at competitive rates and can ask them to provide you with quotes for comparison.

WHEN DO OUR FEES FALL DUE?

The first payment of our fees falls due upon receipt of the Grant and is payable from estate funds. We bill thereafter at regular payment intervals.

ADDITIONAL ADMINISTRATION COSTS – DISBURSEMENTS

These are out of pocket fees associated with the administration of Estates which will need to be paid in addition to our legal fees. They are paid up front and will be expenses for repayment to you from the estate funds prior to any payment to beneficiaries.

Probate application fee – £300 plus £1.50 for every additional copy of the Grant required

Will search – £105 with Certainty UK* + VAT

Executor Insurance – varies on provider and amount to be covered.*

Trustee Act Notice – Gazette* + VAT

Trustee Act Notice – Local Paper* + VAT

Office Copy Entries – £3.00

Bankruptcy Searches £2

Those with * are advisable but subject to client instruction.

Any further unforeseen disbursements will be communicated to clients.

For all matters which are billable by time, our fee earners will charge based on an hourly rate :

Fully qualified solicitor – £275 an hour.

Probate practitioner – £210 an hour.

We offer professional executor services at no additional cost to you. We continue to charge on the time spent only. Remember, if your solicitor is not appointed Executor you can get quotes elsewhere. You do not have to stay with the firm who stores your will if their fees are not favourable for the same service. We are competitive and will try to match or better the quotes received from professionals with the same experience.