Probate Fees

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Fees are calculated according to the amount of work that we undertake and are based upon an hourly charging rate.

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Fees will vary depending  upon the specific circumstances. of the estate.  In straightforward matters, for example, when there is a single beneficiary and no property assets, fees will be at the lower end of the range.  In the case of estates with multiple beneficiaries, property and/or business assets, several bank accounts and other financial assets, fees will be at the higher end.   In addition, if the estate is chargeable in relation to Inheritance Tax (IHT), fees will be somewhat higher than for estates below the applicable IHT thresholds as more detailed IHT forms must be completed.

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We also make an additional, fixed charge based upon the gross value of the estate.  This reflects the differing levels of complexity and responsibility that apply in relation to higher value estates.  This fixed charge is currently 0.50% of the gross value of the estate.   Please note that if the firm is instructed to act on the sale or transfer of a property to a surviving joint tenant, the fixed charge is reduced to 0.25% on that part of the estate.

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DISBURSEMENTS

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Disbursements are charges relating to your matter which are charged by, and payable to, third parties.  This includes: fees payable to the Probate Registry; Land Registry fees; fees for confirming the identity of the executors and beneficiaries.  We handle the payment of the disbursements on your behalf, subject  to reimbursement, in order to ensure an orderly process.

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EXAMPLE OF FEES

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The likely range of fees for an estate where the following apply;

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• There is a valid Will

• There is no more than one property

• There is a maximum of three bank or building society accounts

• There are no other intangible assets

• Total beneficiaries not exceeding three

• There are no disputes between beneficiaries on the division of assets. 

• There are no trusts in the Will

• No missing beneficiaries

• No Inheritance Tax is payable and the executors do not need to submit a full account to HMRC

• There are no claims made against the estate

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The fees for time spent are likely to be in the range of £2000 - £4,000 plus VAT plus costs (disbursements) payable to other parties

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ANTICIPATED DISBURSEMENTS

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Probate Fee (currently £273.00)

Office Copies for the Grant of Probate (£1.50 per copy + VAT)

Land registry copy fee (£3 + VAT)

Bankruptcy Search fee (£2 per beneficiary + VAT)

Confirmation of identity (£10 per person +VAT)

Placing advertisement in the London Gazette and local paper (assume £150.00 + VAT)

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INHERITANCE TAX (IHT)

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Any IHT liability will depend upon the size and nature of the estate.  The HMRC website enables calculations tp be made for guidance purposes (https://www.gov.uk/guidance/hmrc-tools-and-calculators#inheritance-tax-and-bereavement)

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ADDITIONAL COSTS

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A number of factors may affect overall fees and charges for the estate.  This is the case, for example, if there is no Will or the estate consists of any shareholdings (Stocks and Bonds) or foreign property.  Once the full scope of the estate is ascertained, we will be able to provide a more meaningful estimate.  

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Should further assets be discovered, or other complications arise, during the course of the administration, additional costs will arise.  We would advice if and when such events occur.

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Please note that the cost of selling or transferring a property is not included in the fees mentioned in relation to probate.  If you require this service, we would be pleased to provide you with an estimate in that regard.

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EXCLUSIONS

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Where there is likely to be any additional or unanticipated cost, we will inform you of this at the earliest opportunity along with an estimate of those extra costs.

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Certain additional third-party services may be necessary, resulting in additional costs.  These include:

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• Accountancy services and tax advice

• Valuations for property, savings, investments or other assets

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TIME SCALES

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In general, the length of time required to obtain a Grant of Probate or Letter of Administration depends upon the complexity of the estate and whether searches or further investigations need to be undertaken.  In the event that the estate is simple in form, the relevant information is readily available and there is a valid Will, it may be possible to achieve probate within 6 months.  Note, however, that, in all cases, we are dependent upon the speed with which the Probate Registry processes applications; this can vary over time. In the event that there is Inheritance Tax to pay, the process will similarly depend upon the time required for the HMRC to deliberate on the information provided to them.  While we have control over certain aspects of the submissions process, we have no control over third parties such as the HMRC or Probate Registry.

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There are a number of factors which can affect the timing of submission:  

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Where there is physical property or items of particular value, it will usually be necessary to obtain professional valuations.  In the event that commercial assets or business assets form part of the estate, similar professional valuations will need to be obtained.  As probate cannot be applied for until all of this information has been ascertained, then there is potential for delay;

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In the event that there are foreign assets in the estate, in addition to obtaining valuations, it is likely that you will need to retain the services of a lawyer in that country in order to ensure that any taxes due in that country are addressed.  In complex cases, it may be necessary to retain the services of a tax professional.

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Where estates are particularly complex, requiring specialist or professional valuations, the entire process can take 18 months or more to complete depending upon the detail.

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In some cases, disputes may arise in relation to the administration of the estate or perhaps the validity of any Wills. Where such disputes occur, it is possible for the party bringing the dispute to effectively halt the probate process until the matters are resolved.  While there are various timescales associated with these formalities, this generally leads to material delays in the overall process. 

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