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Probates Costs

 

Our Probate fee

This information is for guidance.  When it comes to Probate no two estates are the same and the level of help and advice each client requires will vary.  We therefore have a very flexible approach and at our initial meeting we will establish the nature of the work we are required to do and likewise the extent of the work the executors wish to undertake themselves. 

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We will provide you with an estimate of our fees at the start of the matter or as soon as practical thereafter.    Provided the winding up of the estate proceeds as a normal straightforward probate this firm’s legal costs will either be the lesser of 1.5% of the gross estate plus VAT or a lower fee if it works out less on a time recorded basis.  Most Probates carried out by this firm are concluded on a time recorded basis.  The work will be dealt with by an experienced solicitor who specialises in this area of work whose applicable hourly rate is currently £225 plus VAT.  

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Please note that our rates are reviewed from time to time (usually on an annual basis) and the applicable hourly rate could increase after such a review.  Our fees are calculated in accordance with The Solicitors Act 1974 and The Solicitors (Non-Contentious Business) Remuneration Order 2009. These allow us to take various factors into account when calculating our fees.  Please remember that the costs for dealing with the administration of the estate will be paid from the estate.


The costs estimate will be determined by a number of factors such as:

  • Whether or not there is a valid Will

  • The nature and number of assets in the estate

  • The number of beneficiaries 

  • Whether or not there is inheritance tax payable 

  • Whether or not we are required to claim transferable tax allowances

  • Whether or not we are required to establish the asset and liability values as at the date of death

  • Whether or not the deceased made any gifts within the last 7 years of their life

  • Whether or not there are any specific or cash legacies to be dealt with

  • Whether there are any Trust assets

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We will always advise/discuss any complications and discuss the impact on price.  


You will usually need a Grant of Probate of a Will or a Grant of Letters of Administration where there is no Will (an intestacy) in order for the Executors of the Will or the Administrators of an intestate estate to be able to deal with significant assets such as the sale or transfer of a property, the sale or transfer of shares and the closure of bank accounts with large balances. The Grant is a legal document which confirms that the executor has the authority to deal with the deceased’s personal assets.

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What we are expected to undertake

The work we could be expected to undertake in providing advice and assistance in relation to the administration of an estate includes but is not exhaustive to; 

  • Establish whether there is a valid Will; consider Will searches;

  • Obtain date of death values of assets and liabilities;

  • Establish the relevant facts; 

  • Consider claims by DWP relating to state pension and benefits;

  • Consider the deceased’s pre-death tax affairs; 

  • Gather relevant documents for the application of the Grant;

  • Notify parties relevant to the administration of the estate;

  • Deal with any pre-grant inheritance tax formalities, drafting either IHT205 or IHT400;

  • Considering transferable allowances and drafting forms if applicable;

  • Correspond with deceased bank/building society regarding the direct payment of any inheritance tax if applicable;

  • Draft the Oath or Statement or Truth;

  • Lodge the application for a Grant with the Probate Registry;

  • Deal with all debtors and creditors of the estate after a Grant has been issued;

  • Cash in assets

  • Pay administration expenses, including funeral expenses;

  • Place statutory notices;

  • Arrange the payment of any cash legacies

  • Arrange the payment of any liabilities;

  • Produce estate accounts for the approval of the executors/administrators;

  • Distribute the estate in accordance with the Will/intestacy rules;


Examples of Disbursements are as follows

  • Probate application fees £155 plus £0.50 each sealed copy. 

  • Swear fees £5 for the Oath and £2 per exhibit per executor.

  • Statutory advertisements approximately £180 to £200 including VAT.

  • Bankruptcy searches £2 per UK beneficiary.

  • Certainty Will search either £45.60 or £114 both services will be discussed.

  • Money transfer fees to UK banks £43.20 for CHAPS same day transfer.

  • Land Registry search fee £3 per title (more if plans or copy documents are required.)

  • Land Registry fees on the transfer of the property depending upon the value of the property.

  • Inheritance tax, capital gains tax and income tax where applicable.

  • Fees charges by other professionals if required, for example valuers, these will be advised during the administration as these fees vary.


How long will the estate administration take?

As to timescales and stages the process for dealing with the administration of an estate can be broken down into stages as follows:

  • Establishing the values of the assets and liabilities.

  • Establishing the identity of beneficiaries.

  • Preparing the IHT forms.

  • Paying the IHT and applying for the Grant.

  • On receipt of the Grant collecting in assets, settling debts, legacies and any outstanding tax.

  • Preparing the estate accounts.

  • Distributing the estate in accordance with the Will/rules of intestacy.

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In a straightforward non-taxable estate, we may be able to obtain the Grant of Representation within six to twelve weeks of being instructed and complete the administration within six months to a year, although if there is a house to sell this could delay matters.  

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In a straightforward taxable estate, we are usually able to obtain the grant within two to six months of being instructed.  

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Personal Representatives are usually advised to place statutory advertisements for unknown creditors and wait for the statutory period of two months to expire before paying any distributions (otherwise they could be held personally liable to creditors if there is insufficient money left in the estate to pay them) but if the PRs and the beneficiaries are the same people, for example, or the deceased’s affairs are very well known to them they may be happy to make distributions beforehand.

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How long the administration takes post Grant depends on the circumstances.
Completion of the estate administration of a taxable estate could take more than a year if there is a house to sell and we need to obtain clearance for inheritance tax and other taxes, however it is usual to make interim distributions where practical to beneficiaries. The estate administration cannot be completed until all assets, debts, liabilities and claims have been dealt with. 

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If a Will is contested this could hold up the administration of an estate for a very long time. Certain family members or dependents of the deceased might seek to bring a claim against the estate if they believe they have not been properly provided for. The usual time limit for a claimant to issue a claim is six months from the date of the Grant and there is a four month time limit thereafter to serve the claim on the PRs. However in certain circumstances the court may grant the claimant an extension of time.

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The above information is for costs guidance only.   We would be happy to assist with the application for a Grant and any or all aspects of the administration of an estate.  We will provide you with an estimate of our fees as soon as practicable following our initial meeting.

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