Grant of Probate and Administration Costs and Timescales

Grant only where there is no Inheritance Tax (IHT) to pay

• Average Fee: This means we will extract the Grant of Probate for you where the Estate is straightforward and there is no Inheritance Tax to pay. Our fixed fee is £1,650 + VAT (£330). Total: £1,980.00.

Disbursements

In addition to our fee, there will be additional expenses called disbursements which are payments made to third parties:

• Probate court application fee: £300.00 + £16 per copy
• Notice in the local newspaper and in The London Gazette: Estimated costs for these notices (depending upon each local newspaper charge) are £200 + VAT. This disbursement is optional if the firm are not the appointed Executors.
• Asset Search: £186 + VAT. This disbursement is optional if the firm are not the appointed Executors.

How long will it take?

We estimate it will take 6-8 months to obtain the Grant of Probate.

We will:

1. Obtain valuations of all the assets and details of the debts
2. Prepare the documents necessary to obtain the grant of probate of the Will or Grant of Administration where there is no Will
3. Following the issue of the grant, send you copies

We will not:

• Complete any Inheritance Tax forms
• Collect in any of the assets, including property
• Pay any liabilities
• Arrange payment of any legacies
• Arrange payment of income tax, inheritance tax, or capital gains.

Additional costs on grant only:

• If we need to submit an IHT400 form to claim the additional IHT allowances so that no IHT arises
• If there is no Will
• If the Estate consists of large portfolios or large amounts of individual shareholdings (stocks and bonds)
• If it comes to light that more work is required, which was not known about at the start of the matter

For a more accurate quote, please contact us with further information. 

Administration of Estates

This means that we will obtain the grant of probate for you and then collect in and distribute the assets.

We will:

1. Obtain valuations of all the assets and details of the debts
2. Agree on the amount of inheritance tax (if any) and arrange for payment (if funds are available)
3. Prepare the documents necessary to obtain the grant of probate of the Will or Grant of Administration where there is no Will
4. Following the issue of the grant, send you copies
5. Close the bank accounts, call in the investments, pay debts, and generally administer the estate
6. Pay the legacies, if any
7. Arrange for the sale or transfer of securities (shares) and property in accordance with your instructions
8. Settle final inheritance tax (by instalments if appropriate)
9. Prepare estate accounts to account for all the monies received and paid by the estate during the administration
10. Distribute the estate in accordance with the Will, or the intestacy rules, as appropriate.

We will not (unless agreed in writing and additional fees have been quoted):-

1. deal with the utility companies or council tax regarding a property;
2. deal with the insurance on a property;
3. deal with any income tax or capital gains tax liability.
4. Set up a trust or report that trust to Her Majesties Revenue and Customs (HMRC)

Our fee is based mostly on the amount of time actually spent by the solicitor and other staff in respect of any work they do on your behalf. 

Example: Full Administration of Estate costs where there is no inheritance tax payable 

Our fees

• Illustration only.
• The property and the remainder of the estate valued at either, under £325,000.00 or £650,000.00 on second death of married couple. 

In addition to our fees there are expenses called ‘disbursements’, which we have outlined above.

• Our fee does not include the payment of inheritance tax (https://www.gov.uk/browse/tax/inheritance-tax) or the payment of income tax or capital gains tax, these taxes are paid by the Estate. Our fee also does not include work in relation to income tax, capital gains tax or conveyancing work. An estimate for this work will be sent separately if requested.

There could be additional costs and each Estate has its own facts.

For example, if there is one beneficiary and no property, then the amount of time needed to administer the Estate will be less. If there are a lot of beneficiaries, more than one property and multiple bank accounts then our costs may be more.

The above example applies to Estates where:

• There is a valid Will
• There is no more than one property
• There are no more than 10 bank or building society accounts
• There are no more than 5 beneficiaries
• There are no disputes between beneficiaries on division of assets. If disputes arise this is likely to lead to an increase in costs
• There is no inheritance tax payable and the Executors do not need to submit a full IHT400 Account to HM Revenue & Customs
• There are no claims made against the Estate

How long will it take?

• On average, Estates that fall within this range are dealt with within 12-18 months (depending on the sale of the property if there is one). 

Example: Full administration of the Estate where inheritance tax is due

Our Fees

• Illustration only
• The total estate is valued at less than £1,000,000.00.

In addition to our fees there are expenses called disbursements, which we have outlined above.

Our fee does not include the payment of inheritance tax (https://www.gov.uk/browse/tax/inheritance-tax) or the payment of income tax or capital gains tax, these taxes are paid by the Estate. Our fee also does not include work in relation to income tax, capital gains tax or conveyancing work. An estimate for this work will be sent separately if requested.

There could be additional costs and each Estate has its own facts. We may charge a value element fee based on large and complex Estates. 

How long will this take?

On average, Estates that fall within this range are dealt with within 18-24 months (depending on the sale of any property and subject to any enquiries raised by HMRC in relation to inheritance tax).