Our fees: Probate matters – Fixed fees

Please note our fees are subject to VAT, this tax is set by the UK government and is currently 20%.

Probate matters – Fixed fees

Probate cases can be complex and vary greatly.  We may agree to charge a fixed fee in your case.  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, a property and multiple bank accounts, costs will be at the higher end. The time it takes to complete the work on a Probate matter vary greatly depending in the complexity and size of the estate On average it will take around 3-6 months for an estate administration to be finalised with the exception of any house sale which will be dependent on a buyer being found and matters running through to completion in a timely fashion.

Example 1

In a simple* case with an estate worth around £200,000 with 3-5 bank accounts, a small investment fund, a property to sell and 1-4 beneficiaries, we anticipate the following fees will apply:

Legal fees            £3,000.00

VAT                        £600.00

Example 2

In a more complex case with an estate worth around £600,000 with 3-5 bank accounts, a small investment fund, inheritance tax to pay a property, to sell and 8 beneficiaries, we anticipate the following fixed fees will apply:

Legal fees            £5,000.00

VAT                        £1000.00

Example 3

An intestacy with beneficiaries to trace  and an estate worth around £600,000 with 3-5 bank accounts, shares, a small investment fund, inheritance tax to pay, a property to sell and 20 beneficiaries, we anticipate the following fixed fees will apply:

Legal fees            £10,000.00

VAT                        £2000.00

Grant of Probate only

We can also offer to help you obtain a Grant of Probate only and we have set out some examples of our fixed fees for this below:

Example 4

In a simple case with an HMRC “excepted” estate worth around £200,000 with 3-5 bank accounts, a small investment fund, a property and no inheritance to pay or IHT400 form required, we anticipate the following fixed fees will apply to obtain a grant of representation (grant only) so you can deal with the estate yourself;

Legal fees            £1,200.00

VAT                        £2400.00

Example 5

In a  case with an estate worth around £900,000 with 3-5 bank accounts, an investment fund, a property to sell and tax to pay , we anticipate the following fixed fees will apply to obtain a grant of representation (grant only) so you can deal with the estate yourself;

Legal fees            £2500.00

VAT                        £500.00

Services included in our fees and key stages of the matter in examples 1-3 above:

• Go through the assets and liabilities and write the initial letters to banks, building societies, utilities (including council tax) and insurance.
• Submit statutory notices if applicable.
• Draft Statement of Truth and Inheritance Tax forms. Calculate if there is Inheritance Tax to pay.
• Submit application to the Probate Registry to obtain Grant of Probate.
• Once Probate is received, collect in the assets and pay outstanding liabilities.
• Draft a Deed of Variation of the Will (if applicable).
• Pay any liabilities, any legacies or interim distributions to the residuary beneficiaries.
• Submit bankruptcy checks.
• Prepare Estate Accounts for approval by the executors.
• Finalise the income tax position of the deceased.
• Pay out balance to residuary beneficiaries.

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. In a Probate matter the following disbursements are likely to apply:

HMCTS Probate Application fee £273(no Vat)
HMCTS fees for additional copies £1.50 per copy- (no Vat)
Land registry copy deeds (if required to prove ownership) £3.00 per copy (no Vat)
Bankruptcy searches if needed £2.00 per beneficiary (no Vat)
Posting Trustee Act notices in The London Gazette and in a local Newspaper –protects against unexpected claims. This fee is variable according to where the deceased lived prior to their death. £290 (inc Vat)

Costs not included in our fees:

• 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
• If any additional copies of the grant are required, they will cost £1.50 each (1 per asset usually).
• Dealing with the sale or transfer of any property in the estate is not included.

How long will it take?

On average, estates that fall within this range are dealt with within 6 to 12 months. Typically, obtaining the grant of probate takes 12 weeks. Collecting assets then follows, which can take between 2 to 8 weeks. Once this has been done, we can distribute the assets, which normally takes around 2 to 4 weeks. *Assumptions:

• There is a valid will
• There is no more than one property
• There are no more than 5 bank or building society accounts
• There are no other intangible assets
• There are no more than 4 beneficiaries
• 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
• All assets are UK based and there is no IHT to pay.

We also charge by the hour for probate cases if you would prefer, visit our probate hourly rate fees page for more information. Call us for a no obligation quote on 0191 232 9547 or submit some details of the estate via our online enquiry form and we will get back to you.

Probate work will be undertaken by our probate team displayed below, all team members are supervised by Elspeth Thomson.