Probate fees

How our fees are calculated:

Our costs are based on two factors, a “time element” and a “value element.”

The time element:

Our systems record the time spent by fee earners on a particular matter. Each fee earner has an “hourly rate”.

Partners and senior solicitors charge an hourly rate of £315 plus VAT, newly qualified solicitors charge an hourly rate of £235 + VAT and trainee solicitors and paralegals charge an hourly rate of £215 + VAT. VAT is currently charged at a rate of 20 per cent.

• Letters/emails received are charged in units of 1/20th of an hour per item
• Letters/emails sent are charged in units of 1/10th of an hour per item
• Telephone calls made and received are charged in units of 1/10th of an hour per item
• Perusal/preparation is charged for on a time basis
• Attendance is charged for on a time basis

The value element:

Our charges also contain an element based on the value of the estate. This is because the value is a reflection of the importance of a matter and, consequently, the responsibility imposed on the firm.

We charge 0.5 per cent of the value of the property and 1 per cent of the value of the investments plus VAT.

However, where a Solicitor of this firm is appointed as an executor, an additional value element of 0.5 per cent plus VAT will be charged.

VAT is currently charged at a rate of 20 per cent.

What is included in our fee?

• We will provide you with a dedicated and experienced probate solicitor to work on your matter
• Review the Will (if there is one) or consider the Intestacy Rules in the absence of a Will
• Identify the legally appointed executors or administrators and beneficiaries
• Contact all financial institutions to include banks, investment providers, pension companies etc to obtain date of death balance required to prepare the application for the Grant of Probate or Grant of Letters of Administration
• Obtain professional valuations for any property
• Calculate any inheritance tax due
• Accurately identify the type of probate application you will require
• Complete the probate application and the relevant HMRC forms
• Arrange payment of inheritance tax (if applicable)
• Prepare a Legal Statement for you to sign
• Make the application to the Probate Registry on your behalf
• Obtain the Grant of Probate or Grant of Letters of Administration and provide a court issued copy to you.
• Collect and distribute all assets in the estate after paying all and any liabilities
• Deal with final income tax and/or capital gains tax during the estate administration period.
• Prepare Final Estate Accounts

How long will the process take?

On average, simple estates are dealt with within six to twelve months. Typically, it takes approximately six to eight weeks to receive all the information necessary to apply for the grant. Once we have applied for the grant, it usually takes approximately three to four months to receive the same.

Collecting assets then follows, which can take between four to six weeks. Once we have received all the money in, we then pay the liabilities. Once this has been done, we are then in a position to prepare an interim account. This is sent out to the executors for their approval, and once approved, we distribute the assets accordingly. We then usually deal with either the sale or the transfer of the property. The time taken with this process depends on a number of factors including how quickly a buyer can be found for the property.

Also, if income tax returns are required this can often take several months (up to a year) to finalise.

How much will it cost?

The exact cost will depend on the individual circumstances of the matter.

If we are just applying for the grant on your behalf, and there is no inheritance tax to pay and no HMRC forms to complete, our fees would be approximately £1,500 + VAT. (VAT is currently charged at a rate of 20 per cent.) If we are just applying for the grant and there is a requirement to submit HMRC forms, and/or pay inheritance tax, our fees would range from approximately £2,500 to £5,000 plus VAT.

If we are instructed to administer the estate in addition to obtaining the grant of probate we will charge on a time spent and value basis, as set out above. In addition to our fees, disbursements may be payable and can include:

• Probate application fee of £526 + £2 per copy grant.
• £7 Office Copy Entry – this is the modern equivalent of the old title deeds and shows how the property is owned e.g. sole ownership, owned as joint tenants or owned as tenants in common
• £200.00 plus VAT (approximately) Trustee Act Notice – this includes a post in The London Gazette and in a local newspaper – this helps to protect against unexpected claims https://www.thegazette.co.uk/wills-and-probate/content/299
• £50 plus VAT (approximately) Certainty search – this is a search to ascertain whether the deceased had made a later will than the one in our possession https://www.nationalwillregister.co.uk/
• £165 plus VAT (approximately) Financial Profile Search – this is a search to ascertain what assets the deceased held to ensure no assets are forgotten about
• £7 – Bankruptcy Searches – these are required for each beneficiary before they can be paid

Disbursements are costs related to your matter that are payable to third parties, such as court fees. These are the same price for any firm. We handle the payment of the disbursements on your behalf to ensure a smoother process but may need to request money on account from you to cover these costs (if cash is not already available in the estate).

Potential additional costs

The following factors can increase the costs for dealing with an estate:

• 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 idea of the costs once we have more information from you.
• Dealing with the sale or transfer of any property in the estate is not included
• Arguments/disagreements between executors/ beneficiaries
• Claims on the estate
• Complicated IHT issues
• The need to appoint a specialist accountant to advise
• Various trust issues

In the event that these issues become apparent, it could move from a straightforward estate to a more complex one. It depends on the severity, and we will require further information to provide a more definitive costs estimate.

During conduct, we keep clients advised as to our costs throughout (with an update on costs at least every 6 months).

Who will be carrying out the work?

Our Probate team consists of senior solicitors with between 6 and 20 years of experience. The Department is supervised by David Hardy and Gemma Lowe, partners in the firm.