Probate is a Court Order which confirms the authority of the Executors under a Will to deal with the administration of the Estate. If there is no Will, the Court will appoint Administrators to undertake the role of the Executor.
Firstly, the value of the deceased’s Estate needs to be ascertained. Such as bank/building society account balances, the contents of their home and the value of the home (if owned). The application for Probate can then be prepared. Following this all the necessary forms to the application are signed be the Executor and sent to the Probate Registry
Probate can then be used to cash any bank/building society accounts, sell personal items and any property the deceased may have. The proceeds from the Estate, should then pay for any funeral costs, debts, outstanding bills, other liabilities (solicitors fees). The remaining balance can then be shared between the beneficieries of the Will.
If all the Estate is left to a wife, husband or charity there should no Inheritanc tax to pay. Where more than £325,000 is left to others there may be. There may be allowances that can be claimed which can reduce or even avoid this.
Obtaining Probate only can range from £500- £750 + VAT. The Probate Court Fee is £273 per application on Estates over £5,000. If dealing with the administration of the Estate, our hourly rate charge of £250 per hour + VAT would apply - this is experience based of 8 years + PQE. Full cost details will be provided in our Client Care Letter.
Example costing:
Grant only (fixed fee) :
We can help you through this difficuly process by obtaining the Grant of Probate on your behalf. The cost of this service is:
Professional Fees £500-750 + VAT @ 20%
Disbursements - (where applicable VAT is included at 20%):
- Probate application fee of £273
- Bankruptcy-only Land Charges Department searches (£2 per beneficiary)
- Office copies - £1.50 each
- Post in The London Gazette – Protects against unexpected claims from unknown creditors. Price on request as this need to be obtained from the London Gazette on each individual matter
- Post in a Local Newspaper – This also helps to protect against unexpected claims. Price on request as this need to be obtained from the local newspaper on each individual matter
Disbursement are costs related to your matter that are payable to third parties, such as Court Fees. We handle the payment of the dibursements on your behal to ensure a smoother process.
As part of our fixed fee service we will:
- Provide you with a dedicated and experienced probate solicitor (8 years+ PQE) to work on your matter
- Identify the legally appointed executors or administrators and beneficiaries
- Accurately identify the type of Probate application you will require
- Obtain the relevant documents required to make the application
- Complete the Probate Application and the relevant HMRC forms
- Make the application to the Probate Court on your behalf
- Obtain the Probate and securely send copies to you
On average, estates of a standard nature (as above) are dealt with within 3-6 months. Typically obtaining the grant of probate takes 4-12 weeks from the application form being sent
Grant and Simple Administration:
We anticipate this will take between 6 and 10 hours work at £250.00 per hour plus VAT at 20%. Total costs estimated at -£1500 - £2500 (+VAT at 20%) + disbursements.
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.
We will handle the full process for you. This quote is for estates where:
- There is no more than one property
- There are no more than 3-7 bank or building society accounts
- There are no other intangible assets
- There are up to 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
Disbursements included in this fee (where applicable VAT is included at 20%):
- Probate application fee of £273
- Bankruptcy-only Land Charges Department searches (£2 per beneficiary)
- Office copies - £1.50 each
- Land Registry fee - £20-£45 – depending on the value of the property
- Post in The London Gazette – Protects against unexpected claims from unknown creditors. Price on request as this need to be obtained from the London Gazette on each individual matter
- Post in a Local Newspaper – This also helps to protect against unexpected claims. Price on request as this need to be obtained from the local newspaper on each individual matter
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.
On average, estates that fall within this range are dealt with within 6-12 months. Typically, obtaining the grant of probate takes 4-12 weeks from the application form being sent. Collecting assets then follows, which can take between 4-12 weeks, this is dependent on the turnaround of other parties, such as a bank. Once this has been done, we can distribute the assets, which normally takes 4-6 weeks.
Complicated Administrations:
We can give you a more accurate quote once we have the full information of the Estate.
Complicated matter included such tasks as, IHT return and payment, more than 1 property being involved, several bank accounts, shares and policies to be collected.
We would estimate a timescale of 9 – 24 months on such a matter.
Potential additional costs
- 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.
