Every estate that we help with and every person we talk to when dealing with an estate is slightly different and has different concerns. Every bill is therefore different, but below we give a guide to the likely fees for the different service options we offer.
We offer three levels of service to our Probate clients depending on how involved in the matter they would like us to be. Click here for details of what is included in each option, however a guide as to the likely fees for each option is as follows:
Based on our experience and as a general rule we anticipate an estate will take between 6 and 15 hours work at £110.00/£250.00 per hour (plus VAT). Total costs estimated at £792 – £4,500 (Including VAT).
The exact cost will depend on the individual circumstances of the matter and which team member undertakes the work. 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.
On average, our Probate Fixed process can be dealt with within 1-3 months.
We anticipate this will take between 10 and 20 hours work at £110.00/£250.00 per hour (plus VAT). Total costs estimated at £1,320 – £6,000 (including VAT).
The exact cost of this option would depend on how much work you as Executors / Personal Representatives wish us to undertake. The more work you wish us to undertake the closer to the higher end of the estimate the costs will be.
On average, our Probate Choice process can be dealt with within 3-6 months again depending on how much work you as Executors/Personal Representatives wish us to undertake.
We anticipate this will take between 15 and 30 hours work at £110.00/£250.00 per hour (plus VAT). Total costs estimated at £1,980 – £9,000 (including VAT).
The exact cost will depend on the complexity of the estate and which team member undertakes the work. The more complex the estate is the higher end of the fee estimate it will incur.
On average, our Probate Complete process can be dealt with within 3-6 months. Typically, obtaining the grant of probate takes 3-6 weeks. Collecting assets then follows, which can take between 3-10 weeks. Once this has been done, we can distribute the assets, which normally takes 1-2 weeks.
Disbursements are costs related to your matter that are payable to third parties. The disbursements that we would anticipate in relation to a Probate matter are:
» Probate Court Fees – Click here for further information
» Post in The London Gazette – this protects against unexpected claims from unknown creditors – Click here for further information
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
» 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
Please note the prices quoted above do not include any inheritance tax sum or capital gains tax sum that the estate is liable for and is purely our charges for administering the estate on your behalf.
Fee based on value of estate
In all of our Probate options, please be aware that in addition to the fee payable for the time we spend dealing with the matter as described above, we also charge a percentage of the estates value upon completion of the matter. These charges are in line with the Ministry of Justices recommended fee structure and there is a table below showing these fees.
|Value of estate (pre-IHT)||Percent fee||Max charge|
|Up to £50,000||0%||£0|
|£50,000 – £300,000||0.1%||£300|
|£300,000 – £500,000||0.2%||£1,000|
|£500,000 – £1m||0.4%||£4,000|
|£1m – £1.6m||0.5%||£8,000|
|£1.6m – £2m||0.6%||£12,000|
VAT is charged at the standard rate on the above value based fees – www.gov.uk/vat-rates
Alternatively we can provide you with a fixed fee quotation for the process once we know what the estate consists of. Please either contact us on 01227 812689 or complete the enquiry form below.