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Our fees: Probate matters – Hourly rate fees

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

Probate matters- Hourly rate fees

Probate cases can be complex and vary greatly. We may agree to charge an hourly rate 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.

Grant of Probate only

Example 1

To obtain a grant of representation (grant only) so you can deal with the estate yourself in a simple case with an estate worth around £200,000 with 3-5 bank accounts, and no inheritance to pay or IHT400 form required, we anticipate the following fees will apply. We may be able to deal with this for a fixed fee;

Legal fees £1,500.00

VAT £300.00

Grant of Probate and collecting and distributing assets

Example 2

In a simple* case we anticipate it will take between 4 and 10 hours to complete the work at £280 per hour. Therefore, total costs will be estimated at between £1000 and £2,500 (plus VAT). 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.

Example 3

A more complex case may involve payment of Inheritance Tax or tracing missing beneficiaries. For example, if the deceased died without a will or any close relatives beneficiaries will need to be traced. Tracing 20 beneficiaries and distributing according to a family may take around 40 hours to complete the work at £280 per hour. Therefore, total costs will be estimated at £10,000 (plus VAT). On average, estates that fall within this range are dealt with within 18 to 24 months. Typically, obtaining the grant of probate takes 6 months. 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 6 months.

Services included in our fees and key stages of the matter (examples 2 and 3):

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)
Trustee advertisement fee £290 (inc Vat) – This fee may vary depending upon where the deceased lived

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.
Dealing with the sale or transfer of any property in the estate is not included.

*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 5 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.