Probate Quote

Average cost for applying for the grant, collecting and distributing the assets where inheritance tax is not applicable

We anticipate this will take between 16 and 22 hours work at £185.00 per hour. Total costs estimated are between £3000.00-£4000.00 (+VAT) based on an average estate.

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. It will also depend on how long a property may take to sell.

We will handle the full process for you. This quote is for estates where:

  • There is a valid will/there is no will
  • There is no more than one property
  • There are no more than 4 bank or building society accounts
  • There are no other intangible assets
  • There are 1-4 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/administrators do not need to submit a full account to HMRC
  • There are no claims made against the estate

Disbursements included in this fee:

  • Probate application fee of £155.00
  • £7.00 Swearing of the oath (per executor)
  • Bankruptcy-only Land Charges Department searches (£2.00 per beneficiary)
  • £100.00 Post in The London Gazette – Protects against unexpected claims from unknown creditors. (estimated) (optional)
  • £100.00 Post in a Local Newspaper – This also helps to protect against unexpected claims.(estimated)(optional)

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.

Potential additional costs
  • If 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.
  • If any claims are made against the estate or there are disputes amongst executors/beneficiaries then this will likely increase fees.
  • Fees may increase if the administration of the estate is delayed by the sale of a property
  • If any additional copies of the grant are required, they will cost £0.50 (1 per asset usually).
  • Dealing with the sale or transfer of any property in the estate is not included. Our conveyancing department can confirm their fees on instruction.
  • Preparing a tax return if required is not included. We can give you a more accurate quote once we have more information.

This is not an exhaustive list as there may be other issues that arise during the instruction/administration.

How long will this take?

On average, estates that fall within this range are dealt with within 3-6 months (depending on how long a property may take to sell). Typically, obtaining the grant of probate takes 6-8 weeks. Collecting assets then follows, which can take between 4-8 weeks. Once this has been done, we can distribute the assets, which normally takes 4-6 weeks.

 

Average cost for applying for the grant, collecting and distributing the assets where inheritance tax is applicable

We anticipate this will take between 24 and 30 hours work at £185.00 per hour. Total costs estimated are between £4500.00-£5500.00 (+VAT) based on an average estate where inheritance tax is applicable.

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. It will also depend on how long a property may take to sell.

We will handle the full process for you. This quote is for estates where:

  • There is a valid will/there is no will
  • Inheritance tax is applicable and the executors/administrators need to submit a full account to HMRC
  • There is no more than one property
  • There are no more than 4 bank or building society accounts
  • There are no other intangible assets
  • There are 1-4 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 are no claims made against the estate

Disbursements included in this fee:

  • Inheritance tax is based on the value of the estate and the standard rate of inheritance tax is 40% over the applicable threshold to the estate. The estate can pay Inheritance Tax at a reduced rate of 36% on some assets if 10% or more of the ‘net value’ is left to charity in the will. We would recommend you review the guidance provided at https://www.gov.uk/inheritance-tax for more information on inheritance tax. We can give you more accurate information in relation to the inheritance tax applicable once we have more information.
  • Probate application fee of £155.00
  • £7.00 Swearing of the oath (per executor)
  • Bankruptcy-only Land Charges Department searches (£2.00 per beneficiary)
  • £100.00 Post in The London Gazette – Protects against unexpected claims from unknown creditors. (estimated) (optional)
  • £100.00 Post in a Local Newspaper – This also helps to protect against unexpected claims.(estimated)(optional)

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.

Potential additional costs
  • If 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.
  • If any additional copies of the grant are required, they will cost £0.50 (1 per asset usually).
  • Dealing with the sale or transfer of any property in the estate is not included. Our conveyancing department can confirm their fees on instruction.
  • Preparing a tax return if required is not included. We can give you a more accurate quote once we have more information.

This is not an exhaustive list as there may be other issues that arise during the instruction/administration.

How long will this take?

On average, estates that fall within this range are dealt with within 6-9 months (depending on how long a property may take to sell). Typically, submitting the full account to HMRC takes 8 – 12 weeks and obtaining the grant of probate takes a further 6-8 weeks. Collecting assets then follows, which can take between 4-8 weeks. Once this has been done, we can distribute the assets, which normally takes 4-6 weeks.

Probate

We can help you through this difficult process by obtaining the Grant of Probate on your behalf.

How much does this service cost?

TOTAL: fixed fee of £650.00 (incl. VAT).

This includes: obtaining the grant only where inheritance tax is not applicable.

This does not include; obtaining the information required to make the probate application, collecting and distributing assets or dealing with any claims made against the estate.

Breakdown of costs:

Legal fees £650.00

VAT on legal fees £130.00

Disbursements (£162.00 in total):

  • Probate court fee of £155.00.
  • £7.00 Swearing of the oath (per executor).

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.

As part of our fixed fee we will:

  • Provide you with a dedicated and experienced probate solicitor 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
  • Draft a legal oath for you to swear
  • Make the application to the Probate Court on your behalf
  • Obtain the Probate and securely send any copies to you

On average, estates that fall within this range are dealt with within 1-2 months. Typically, obtaining the grant of probate takes 6-8 weeks.

 

 

 
 
 
 
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