Probate
Losing a loved one is something that we all dreaded and the paperwork involved in finalising someone?s affairs can be a major burden. A caseworker or Solicitor experienced in Probate (supervised by Rachel Sebastian, Senior Solicitor), will provide a sympathetic and efficient service to guide you through the requirements of the Probate Court and HM Revenue & Customs. We will provide a full Probate Service collecting in or arranging the transfer of all the assets or we can provide advice and support for those parts of the process where you need assistance. We will discuss your requirements fully with you and let you know what our charges will be before you commit yourself., so you have nothing to lose in arranging to talk to us. Our detailed price list can be seen here.
Probate Fees
We can help you through this difficult process by obtaining the Grant of Probate on your behalf. We will also undertake the collecting and distributing of assets as well as completing any HMRC forms that are required. These fees relate to uncontested probates only where all realisable assets are based within the UK. We do not deal with estate litigation and would refer you to a litigation solicitor for any contentious elements of an estate administration.
Probate matters are handled by Rachel Sebastian who is a qualified solicitor and a Partner / Director of the Firm who has many years of probate experience.
How much does this service cost?
The cost of estate administration varies from estate to estate. We allocate estates into a range of fee bands depending upon the anticipated complexity of the estate and the likely work involved.
We set out below our pricing mechanism for various bands of estates. We offer a free consultation during which we will explain the process involved and discuss with you the likely size and complexity of the estate to be administered. We will then advise you of the appropriate fee band. Only if you wish to proceed at this stage will any fees be incurred.
| Fee Band | Fee All plus VAT | VAT | Indicative price for an estate valued at : |
|---|---|---|---|
| Band 1 – an estate with no need for a grant of probate, only one or two beneficiaries and few assets to be collected in. | 1.5% of the value of the estate Minimum fee £1,000 |
20% | £20,000 = £1,000 + VAT = £1,200 £100,000 = £1,500 + VAT = £1,800 |
| Band 2 – an estate where a grant of probate and Inheritance Tax Form 205 are required but there are only one or two beneficiaries and relatively few assets to be collected in. | 1.5% of the value of the estate Minimum fee £2,000 |
20% | £100,000 = £2,000 + VAT = £2,400 £200,000 = £3,000 + VAT = £3,600 |
| Band 3 – an estate where a grant of probate and Inheritance Tax Form 205 are required but there are a greater number of beneficiaries and/or assets to be collected in and/or income tax during administration to be assessed and paid. | 1.5% of the value of the estate Minimum fee £3,000 |
20% | £200,000 = £3,000 + VAT = £3,600 £300,000 = £4,500 + VAT = £5,400 |
| Band 4 – an estate where a grant of probate and a full Inheritance Tax account IHT 400 are required but without an Inheritance Tax liability, there are only one or two beneficiaries and relatively few assets to be collected in. | 1.5% of the value of the estate Minimum fee £4,000 |
20% | £400,000 = £6,000 + VAT = £7,200 |
| Band 5 – an estate where a grant of probate and a full Inheritance Tax Form 400 are required with an Inheritance Tax liability but there are only one or two beneficiaries and relatively few assets to be collected in. | 1.5% of the value of the estate Minimum fee £5,000 |
20% | £400,000 = £6,000 + VAT = £7,200 £500,000 = £7,500 + VAT = £9,000 |
| Band 6 – an estate where a grant of probate and a full Inheritance Tax Form IHT 400 are required and there are a greater number of beneficiaries and/or assets to be collected in and/or income tax during administration to be assessed and paid. | 1.5% of the value of the estate Minimum fee £6,000 |
20% | £500,000 = £7,500 + VAT = £9,000 £750,000 = £11,250 + VAT = £13,500 |
| Band 7 an exceptionally complex estate | Fee to be negotiated separately once we know the full extent of the work involved but no less than the Band 6 fee | 20% |
The value of an estate includes a half (or appropriate) share of jointly held assets.
Please note that dealing with a deed of variation (to alter the distribution provisions of a will or intestacy with the agreement of all beneficiaries involved) and/or the sale or transfer of any land and buildings in the estate is not included. Our sale and transfer of property prices are available on our website. A simple deed of variation may cost £300 + VAT = £360. For more complex deeds of variation we charge £150 + VAT = £180 per hour but we will be able to provide a more detailed estimate when we know the likely work involved.
If the complexity or likely work involved changes significantly during the administration process we will discuss this with you and agree any change to the fee band applicable and any price increases involved. Likewise, where the complexity or work involved is significantly lower than anticipated we will reduce our price accordingly to a lower fee band.
Disbursements:
- Probate court fee of £273 (where a solicitor applies) until 31st March 2019* with additional copies of the grant at 50p each.
- £5 + £2 per exhibit for swearing of the oath (per executor).
- £2 per beneficiary for bankruptcy-only Land Charges Department searches
Some estates will require advertisements to protect against unexpected claims from unknown creditors. The cost varies and will be advised separately if required. - The London Gazette and/or
- A Local Newspaper and/or
- Certainty search.
Some estates will require additional disbursements such as: - Fees on the sale of shares
- Valuation fees
- Enquiry agency charges
- Auctioneer’s fees
- Fees for the disposal or clearing of property
- Property inspections for insurance purposes
- Other fees for the proper administration of the estate.
Disbursements are costs related to your matter that are payable to third parties: We handle the payment of the disbursements on your behalf to ensure a smoother process.
You should note that Inheritance Tax is payable on some estates. Please ask us to advise on potential liabilities or visit https://www.gov.uk/inheritance-tax for more information. In addition income tax may be payable on some income producing assets in the estate.
*NOTE:
Subject to Parliamentary approval, H M Government has proposed revising fees for the grant of probate with effect from 1st April 2019 as follows:
|
Application for a grant or resealing of a grant On an application for a grant or resealing of a grant where the assessed value of the estate: |
|
|---|---|
| (a) exceeds £50,000 but does not exceed £300,000; | £250 |
| (b) exceeds £300,000 but does not exceed £500,000; | £750 |
| (c) exceeds £500,000 but does not exceed £1,000,000; | £2,500 |
| (d) exceeds £1,000,000 but does not exceed £1,600,000; | £4,000 |
| (f) exceeds £1,600,000 but does not exceed £2,000,000; | £5,000 |
| (g) exceeds £2,000,000 | £6,000 |
As part of our fee we will:
- Provide you with a dedicated and experienced probate solicitor to work on your matter
- Identify the legally appointed executors or administrators and beneficiaries
- Accurately identify the type of Probate application you will require
- Obtain the relevant documents required to make the application
- Complete the Probate Application and the relevant HMRC forms
- Draft a legal oath for you to swear
- Make the application to the Probate Court on your behalf
- Obtain the Probate and securely send two copies to you
- Collect and distribute all assets in the estate
- Ensure that all debts and taxes due are correctly paid
- Provide interim and final accounts with explanatory notes
- Make interim distributions where appropriate
- Keep you informed of progress at all relevant stages and be available to answer any questions.
We usually expect estates within bands 3-6 to take 9 – 18 months to complete, whereas simpler estates may be completed within 6-12 months. The very complex estates can take two years or more though we always endeavour to make interim distributions to beneficiaries before completion.
Find out more about: Conveyancing - Wills - Power of Attorney - Probate - Commercial Advice
