Probate Fees
Unlike many other Solicitors or banks, we do not base our charges on a percentage value of the Estate which we regard as being unfair and instead only charge for the work that we undertake on your behalf. The exact cost will depend on the individual circumstances of the matter. It will also depend on whether you wish us to simply apply for the Grant or whether you wish us to administer the estate.
Grant Application only on a non-taxable estate
The following information is for obtaining a Grant of Probate/Letters of Administration only. Executors/Administrators will then deal with the administration of the estate after we have obtained the Grant.
‘Non-taxable estates’ means estates under £325,000 where there is no inheritance tax to pay. (or £650,000 where a transferrable Nil Rate Band is available)
This quote is for estates where:
- There is a valid will
- You provide full details of assets in the estate at the time of death
- There is no inheritance tax payable and the executors do not need to submit a full account to HMRC
- There are no claims made against the estate
Costs:
Our fees range from £600-£850 (plus VAT).
However, the exact cost will depend on the individual circumstances of the matter. For example, if we need to obtain more information on your behalf or if you require additional advice and assistance
Other costs:
These are costs related to your matter payable to third parties. We handle these on your behalf to ensure a smoother process. These include:
- Probate court fee – £155
- Per official copy of the Grant – £0.50 (you will need several copies depending on the size of the estate)
- Copies of Deeds from Land Registry - £3.00
- Land Registry searches - £3 per register or £6 if plan and register is needed per property search
Stages of process:
- Initial meeting to explain the process involved and obtain details about the estate
- Drafting a statement of truth in support of application for the Grant
- Preparing relevant HMRC forms
- Obtaining Grant of Probate
Our fees include:
- Providing you with a dedicated and experienced probate lawyer to work on your matter
- Accurately identifying the type of probate application you require
- Completing the Probate Application and relevant HMRC forms
- Drafting a statement of truth to support your application for a Grant
- Potentially obtaining the transferable and residence nil rate band for Inheritance Tax purposes
- Making the application to the Probate Registry
- Obtaining the Grant of Probate and sealed copies for your use
Our fees do not include:
- Advice on the legal validity or meaning of the Will
- Disputes or claims against the estate
- Advice relating to any further steps required to administer the estate
- Advice relating to the Executors appointment
- Where the deceased was domiciled abroad or there are significant foreign assets
- Registration/notification of death
- Organising valuations of assets in estate
- Dealing with any property related matters e.g. insurance, utilities, council tax
- Advertising of statutory notices
- Any conveyancing which may be required to deal with property in the estate
- Inheritance tax, income tax or capital gains tax issues
- Payment of any money gifts in the will
- Payment of debts and liabilities in the estate
- Collecting in assets and distributing them to beneficiaries
- Preparation of estate accounts
- Any estate expenses such as probate court fees
- Advice in connection with variation of the estate
- Conduct of the matter where a dispute between the parties arises
The fees for our service can vary depending on a number of factors including:
- Timescales
After you have provided the relevant information it usually takes one to two months from the date of instruction to be ready to apply for a Grant of Representation.
Estate Administration
Every probate case is different and can involve a lot of complex work to identify all the assets involved and pay inheritance tax where applicable, so it makes sense to seek professional legal advice from a firm with a wealth of experience in dealing with probate.
We provide an initial free consultation and if possible we will give you a fixed fee once we know the full size and complexity of the estate.
Costs:
Our range of fees are £1200-£3000 (plus VAT).
Other costs
These are costs related to your matter payable to third parties. We handle these on your behalf to ensure a smoother process. These include:
- Probate court fee – £155
- Per official copy of the Grant – £0.50 (you will need several copies depending on the size of the estate)
- Bankruptcy searches – £2 per beneficiary
- Post in The London Gazette – Protects against unexpected claims from unknown creditors. (you may choose not to incur this expense) - £250 - £500
- Post in a Local Newspaper – This also helps to protect against unexpected claims (you may choose not to incur this expense) - £250 - £500
Potential additional costs
- Share Valuation/Land Valuation/Property Valuation – cost will depend on valuer
- House clearances – cost depend on provider
- Missing asset searches £25.00
- indemnity Fees for Missing Shares certificates – cost will depend on share register
Our fees include:
- Ascertaining the assets and liabilities of the estate
- Calculating any inheritance tax due
- Obtaining the Nil Rate Band (and Transferable Nil Rate Band if appropriate) for Inheritance Tax purposes
- Obtaining the Residence Nil Rate Band (and Transferable Residence Nil Rate Band if appropriate) for Inheritance Tax purposes
- Completing the IHT205 or IHT 400 Account for HM Revenue & Customs
- Dealing with the insurance of the property or properties within the estate
- Obtaining a Grant of Representation
- Collecting the assets
- Dealing with the shareholdings in accordance with your instructions
- Paying debts, taxes and administration expenses
- Selling assets, if necessary, to realise cash for the purpose of the administration;
- Transferring the assets to those entitled
- Dealing with the income tax affairs of the deceased for the tax year to the date of death
- Producing estates accounts
- Accounting to the beneficiaries
Our fees do not include:
- Any disputes or claims against the estate or regarding the validity of the Will
- The preparation of a Deed of Variation
- Dealing with the tax affairs (other than those for the tax year to the date of death) including any Inland Revenue investigation
- Any conveyancing fees incurred in dealing with the sale of estate property
- Dealing with the deceased’s insolvency
- The need for the executors to commence litigation proceedings against a third party
- Monies transferred telegraphically to bank accounts
The fees for our service can vary depending on a number of factors including:
- How many beneficiaries there are
- If there are assets overseas
- If there is any property to be sold or transferred
- If there are multiple bank accounts
- If there are any disputes about the division of assets or claims against the estate
- If we need to deal with past years tax affairs
- If there are trusts, lifetime gifts, significant shareholdings, business and agricultural assets, or discounted gift trusts involved
Timescales:
The time taken to fully administer the estate depends on the full circumstances of the case; this typically takes up to 18 months but if we anticipate it taking longer, we will discuss this with you.
For more information or to make an appointment contact Richard Bonsall by telephone on 01827 61011 or by email on richard.bonsall@glaisyers.net
