Estimated probate fees
Applying for the grant, and collecting and distributing the assets:
We anticipate this will take between seven and 11 hours on the basis of one of our partners undertaking the work at £230.00 plus VAT per hour. Total costs are estimated at £1,750.00-£2,500.00 (plus VAT). Alternatively, some or all of the work may be undertaken by an associate (£215.00 plus VAT), a solicitor or a legal executive (£200.00 plus VAT) at lower hourly rates.
Our costs will depend on the individual circumstances of the matter. 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.
We will handle the full process for you. This estimate is for estates where there:
- is a valid will;
- is no more than one property;
- are no more than three bank or building society accounts;
- are no other intangible assets;
- are one to four beneficiaries;
- are no disputes between beneficiaries on division of assets. If disputes arise, this will lead to an increase in costs;
- is no Inheritance Tax payable and the executors do not need to submit a full account to HMRC; and
- are no claims made against the estate.
Disbursements not included in our costs
Disbursements are costs related to your matter that are payable to third parties, such as probate (court) fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. These may include:
- probate application fee of £155.00;
- bankruptcy searches (£2.00 per beneficiary); and
- approximately £85.00 for posting the necessary advertisements in the London Gazette and approximately £75.00 for posting an advertisement in a local newspaper to protect against claims from unknown creditors.
Potential additional costs
If there is no will or the estate consists of multiple assets of different kinds, there will be additional costs that could range significantly, depending on the nature and extent of the estate, and how it is dealt with. We can give you a more accurate estimate, once we have more information.
If any additional copies of the grant of probate are required, they will cost £0.50 (one per asset usually).
Dealing with the sale or transfer of any property in the estate is not included.
How long will this take?
On average, estates that fall within this range are dealt with within six to nine months. Typically, obtaining the grant of probate following receipt of initial instructions takes eight to 12 weeks. Collecting assets then follows, which can take between two and three weeks. Once this has been done, we can distribute the assets, which normally takes two to three weeks.
The above time estimates are based on the assumption that documentation sent is processed by the recipient within a timely manner.
If you would like to talk to a member of our Probate Team, please email us or call 01295 253211.