If you choose to instruct us, we will issue a Client Care Letter which will set out our range of costs that we believe we could incur when dealing with the estate. When an unforeseen complexity arises or where the way in which you ask us to proceed means additional work, we will inform you of this and provide revised costs information.
Grant only service
For a simple estate (where no IHT400 is required), our Grant only service obtains a Grant of Probate (or Grant of Letters of Administration). The information is provided by the executors, who will be responsible for dealing with the estate once the Grant has been received. Our fee will be £1500 plus VAT @20%. Where a full estate form (IHT400) is submitted our fees will be £2,500 plus VAT at 20%. There will also be Probate Court fees of £273 per application, with a further £1.50 for each official copy.
On average, this process will take 16-20 weeks.
In addition to the legal fees, there is a disbursement of £5 per client plus VAT at 20% for ID compliance checks. These checks are a regulatory requirement.
Full estate administration service
- Most of our clients prefer to use our expertise throughout the entire Probate process. Our full service can include:
- Providing initial advice
- Obtaining the relevant documents required to make the Probate application
- Preparing the appropriate Probate papers including the tax returns
- Making the application to the Probate Registry on your behalf and obtaining the Probate
- Collecting in the estate assets
- Paying tax, liabilities and legacies
- Dealing with HMRC and obtaining appropriate tax clearances
- Preparing full estate accounts and tax returns
- Distributing the remainder of the estate to relevant beneficiaries
The exact cost will vary depending upon the type of assets involved, the size and complexity of the estate and the terms of the will. For example, if there is one beneficiary and no property and no disputes and no inheritance tax payable, costs will be at the lower end of the range. If there are multiple beneficiaries, multiple properties and/or multiple other assets, costs will be at the higher end. If the deceased dies intestate the cost will also be greater.
As a guide, our full estate administration fees are £5,000 – £7,000 plus VAT at 20% for a very straightforward estate. For an estate with some complexities, fees can be between £7,000 – £15,000 plus VAT at 20%. Very complex estates the fees can exceed £15,000 plus VAT at 20%.
Disbursements may include Probate court fees of £273 per application, with a further £1.50 for each official copy, £62.15 plus VAT at 20% to place a notice in The London Gazette (to protect against unexpected claims from unknown creditors), and £127.80 plus VAT at 20% to place a notice in a local newspaper also help to protect against unexpected claims. There is a disbursement of £5 plus VAT per client for ID compliance checks. These checks are a regulatory requirement.
On average, estates are dealt with within 18 months. Typically, obtaining the Grant of Probate takes 20 weeks. The collection of assets can take between 8-10 weeks. Once this has been done, we can distribute the assets, which normally takes 4 weeks.
