(i) For obtaining grant of probate/letters of administration only
To obtaining grant of probate/letters of administration, we would charge on a time spent basis at the current hourly rate of £325 plus VAT per hour plus disbursements subject to a minimum of £1,450 plus VAT and disbursements.
(ii) Full Estate Administration
Full estate administration – we will charge on a time spent basis at the current hourly rate of £325 plus VAT per hour plus disbursements. In addition we charge 1% of the gross value of the estate plus VAT (excluding the value of any properties) and 0.5% of the gross value of any properties in the estate plus VAT.
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 lower. If there are multiple beneficiaries, a property and multiple bank accounts, costs will be higher as the time spent will be higher.
By way of example, for an estate worth £380,000 where:
There is a valid will
There is one executor
There is no more than one property which is worth £300,000.
There are no more than 2 bank or building society accounts containing a total of £80,000.
There are no other assets
There are 1-2 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
We anticipate that obtaining probate and dealing with the administration of the estate on a small estate will take between 4 – 6 hours work at £290 plus VAT per hour. Total legal costs estimated at £3,460.00 to £4,040.00 plus VAT and 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.
Probate court fee - currently £155
Additional copies of the grant (1 per asset usually required) £0.50 each
Office copy entries and title documents from the Land Registry from £3.90 inc VAT per document inc VAT.
Swearing of the oath (per executor) £7.00
Bankruptcy-only Land Charges Department searches (£2.90 inc VAT beneficiary name)
Advertisement in The London Gazette – Protects against unexpected claims from unknown creditors £69.50 plus VAT.
Advertisement in a Local Newspaper (this will vary depending on the rates of the local paper) – £80 to £150 plus VAT. This also helps to protect against unexpected claims
Potential additional costs
If there is no Will or the estate consists of any share holdings (stocks and bonds) there are likely to be additional costs that could vary 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 and an additional charge will apply. You will be advised of this nearer the time
How long will this take?
On average, simple estates are usually dealt with within 2-6 months. Typically, obtaining the grant of probate takes 2 – 4 months. Collecting assets then follows, which will typically take 2 – 3 months. Once this has been done, we can distribute the assets, which normally takes 4 to 6 weeks.
Whilst every effort has been made to ensure the above fees are accurate we reserve the right to raise further charges if the complexity or amount of work involved exceeds levels anticipated at the outset. Please note that the cost of disbursements are subject to any increases (which are out of our control) which may be imposed by third party suppliers, or if some of the information on which our quotation is based proves later to be incorrect. Our fees are applicable only for probates matters in England and Wales.