Call us: 01633 262952
The work we will carry out on your behalf will include obtaining probate valuations, preparing probate papers, applying for the grant, paying outstanding debts, collecting and distributing assets and preparing estate accounts.
The exact cost will depend on the individual circumstances of the matter.
Our charges are based on the time spent dealing with the matter and a percentage of the gross value of the estate. The relevant percentage will be 1% of the value of the gross estate less the residence and ½ % of the value of the residence. For the purpose of calculating the relevant percentage, assets jointly held with a surviving spouse and passing by survivorship are excluded.
We will handle the full process for you. Below are examples of our charges in typical probate matters, with example 1 being the most straight forward and example 2 showing where more work is involved.
Example 1
Gross estate valued at £50,000
We will handle the full process for you. This is based on estates where:-
We anticipate that the work in Example 1 will take between 3 to 4 hours at £225.00 per hour based on a gross estate value of £50,000. Our total cost estimate is £1,175 to £1,400 plus VAT at the prevailing rate, currently 20%. This would lead to a VAT inclusive total cost estimate of £1,410 to £1,680.
Example 2
House valued at £200,000 and gross value of remaining assets £80,000
We anticipate that the work in Example 2 will take between 5 to 6 hours work at £225.00 per hour. Based on a gross value of £280,000, and the percentage charge split as to ½ % in respect of the value of the property at £200,000 and a percentage charge on the remaining assets of the estate at 1% of £80,000, our total cost estimate is £2,925 to £3,150.00 plus VAT at the prevailing rate, currently 20%. This would lead to a VAT-inclusive costs estimate of £3,510 to £3,780.00
Disbursements charged in addition to the fees detailed in Example 1 & 2 above
Probate application fee of £273.00
Office copies of the Grant of Probate £1.50 each
Bankruptcy search (only land charges department search £2 per beneficiary) £8.00
In some cases it will be necessary to incur the following disbursements:-
£78.18 Trustee Act Notice in the London Gazette – protects against unexpected claims from unknown creditors.
Approximately £100.00 Trustee Act Notice in a local newspaper – this also helps to protect against unexpected claims.
Search of the National Will Register £105.00
Disbursements are costs related to your matter but are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
There may be potential additional costs including but not limited to the following:-
We can give you a more accurate quote once we have more information.
How long will the administration of the estate take?
On average estates of the type that we have described in the examples above are dealt with within 4 to 6 months. Typically, obtaining the Grant of Probate takes two months, collecting assets then follows, which can take between 4 to 6 weeks. Once this has been done, we can distribute the assets, which normally takes 4 to 6 weeks but the period of the administration can take significantly longer where there is a property to sell.
This site uses cookies. More info