We act in applying for the Grant of Probate or Letters of Administration collecting and distributing the assets.
This will usually (but not always, particularly in more complex cases) take between 10 and 20 hours work at £250 – £400 per hour.
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, trusts, a property and multiple bank accounts and debts and liabilities, costs will be at or possibly exceed the higher end.
We will handle the full process for you.
This quote is for estates where:-
- There is a valid Will.
- There is no more than one property.
- There are no more than six bank or building society accounts.
- There are no other intangible assets.
- There are between one and six beneficiaries.
- There are no disputes between the beneficiaries on division of assets or individuals claiming a share of the estate. If disputes arise, this will lead to an increase in costs.
- There is no Inheritance Tax payable and the Executors do not need to submit a full Inheritance Tax account to HMRC.
- There are no claims made against the estate.
Disbursements excluded in this fee are:-
- Probate application fee of £155 (this fee may increase).
- £7 for swearing of the Oath per Executor.
- Bankruptcy only land charges disbursements searches: £2 per beneficiary.
- £60 post in the London Gazette – this protects against unexpected claims from unknown creditors.
- £45 post in a local newspaper – this also helps to protect against unexpected claims.
Disbursements are costs related to your matter that are payable to third parties, such as Court fees. We handle the payment of disbursements on your behalf to ensure a smoother process.
Potential additional costs
- If there is no Will or the estate consists of any shareholdings (stocks and bonds), there are 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 estimate once we have more information.
- If any additional copies of the Grant are required, they will cost £1 each.
- Dealing with the sale or transfer of any property in the estate is not included.
- Preparation of a Deed of Variation or Deed of Family Arrangement.
How long will this take?
On average estates that fall within this range are dealt with within three to nine months.
Typically, obtaining the Grant of Probate takes between twelve and sixteen weeks.
Collecting assets then follows which can take between three to six weeks. Once this has been done, we can distribute the assets, which normally takes between three to six weeks.
The above hourly rate will be valid until 30 April 2020. Our hourly rate will be reviewed on 1 April 2019.