In accordance with the SRA requirements, we list below fee information for the following:-
- Dealing with the full administration of an estate – including the application for the Grant, collecting and distributing all assets
- Dealing with the full administration of an estate that is subject to the payment of Inheritance Tax
- Dealing with the application for the Grant only
If you would like further information or details about other Private Client legal services please Contact Us.
Dealing with the full administration of an estate –
including the application for the Grant, collecting and distributing all assets
The exact cost will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property to sell, costs will be at the lower end of the range. If there are multiple beneficiaries, a property to sell and multiple bank accounts, costs will be at the higher end.
Our fees are based solely on the time spent on the matter at the hourly rate of the person handling the estate administration on your behalf.
We will handle the full process for you as Personal Representative of the estate, or can provide you with support and advice in respect of the more practical estate matters that you want to undertake for yourself. This quote is for estates where:
- There is a valid Will
- There is no more than one property
- There are no more than six bank or building society accounts
- There are no other intangible assets
- There are between one and four main beneficiaries
- There are no disputes between beneficiaries as to the division of assets. If disputes arise this is likely to lead to an increase in costs
- There is no inheritance tax to pay and the Personal Representative does not need to send a full Inheritance Tax Account to H M Revenue and Customs
- There are no claims made against the estate
Disbursements payable in addition to our firm’s charges and VAT include:
- The Probate Registry fee – if the value of the estate exceeds £5,000 this fee is £273.00, plus £1.50 for each official copy of the Grant required (usually one per asset)
- Statutory advertisements in a local newspaper and the London Gazette – approximately £300 when arranged through an agency, to protect against unexpected claims from unknown creditors
- Valuation fees – professional valuations may be required for certain assets such as property or shares
A Personal Representative is the Executor of an estate (where there is a Will) or the Administrator (where there is no Will).
A Grant of Probate is obtained by the Executors named in a Will.
A Grant of Letters of Administration is obtained by one or more of the beneficiaries of the estate if the person who has died did not make a Will.
Disbursements are costs related to your matter that are payable to third parties.
Potential additional costs
- If there is no Will or the estate consists of shareholdings there are likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with. We can give you a more accurate quote once we have more information about the estate.
- The cost of dealing with the sale or transfer of any property in the estate is not included.
- The cost of dealing with finalising the deceased’s income tax affairs to the date of death or income and capital gains tax matters during the administration of the estate, and any such tax due, is not included.
As part of our service we will:
- Identify the type of Grant application required
- Obtain the relevant information or documents required to make the application
- Complete the relevant H M Revenue and Customs forms to report the assets and liabilities of the estate
- Draft the required Oath for you to swear
- Correspond with the Probate Registry on your behalf
- On receipt of the Grant, collect in and distribute the estate assets
How long will it take to complete the administration of an estate of this nature?
On average, estates that fall within this range are dealt with within 4 to 6 months. Typically, obtaining the Grant in the estate takes 8 to 12 weeks from the date on which you provide us with estate information. Collecting assets after the issue of the Grant then follows and can take between 4 to 6 weeks. Preparing the final Accounts for your approval and completing the distribution of the estate assets can take between 4 and 6 weeks.
The timescale for dealing with the administration of an estate of this nature will be affected by matters such as:
- Selling the property or shareholdings in the estate
- Time taken by H M Revenue and Customs to finalise income and capital gains tax matters to the date of death and for the administration period
- Time taken by financial or other institutions to respond to correspondence or provide information
- Any potential claims on the estate e.g. Department for Work and Pensions
We anticipate this will take between 10 and 20 hours work. Total costs estimated at £2,000.00 to £4,000.00 plus VAT, charged at 20%. This estimate is based on our junior solicitor rate of £200.00 per hour. Our senior lawyers have a higher hourly rate which reflects their experience.
Contact Us for further information.
Dealing with the full administration of an estate that is subject to the payment of Inheritance Tax
The exact cost will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property to sell, costs will be at the lower end of the range. If there are multiple beneficiaries, a property to sell and multiple bank accounts, costs will be at the higher end.
Our fees are based solely on the time spent on the matter at the hourly rate of the person handling the estate administration on your behalf.
We will handle the full process for you as Personal Representative of the estate, or can provide you with support and advice in respect of the more practical estate matters that you want to undertake for yourself. This quote is for estates where:
- There is a valid Will
- There is no more than one property
- There are no more than six bank or building society accounts
- There are no other intangible assets
- There are between one and four main beneficiaries
- There are no lifetime gifts to investigate and report
- There are no disputes between beneficiaries as to the division of assets. If disputes arise this is likely to lead to an increase in costs
- There is inheritance tax to pay and the full Inheritance Tax Account to H M Revenue and Customs is required
- There are no claims made against the estate
Disbursements payable in addition to our firm’s charges and VAT include:
- The Probate Registry fee – if the value of the estate exceeds £5,000 this fee is £273.00, plus £1.50 for each official copy of the Grant required (usually one per asset)
- Statutory advertisements in a local newspaper and the London Gazette – approximately £300 when arranged through an agency, to protect against unexpected claims from unknown creditors
- Valuation fees – professional valuations may be required for certain assets such as property or shares
A Personal Representative is the Executor of an estate (where there is a Will) or the Administrator (where there is no Will).
A Grant of Probate is obtained by the Executors named in a Will.
A Grant of Letters of Administration is obtained by one or more of the beneficiaries of the estate if the person who has died did not make a Will.
Disbursements are costs related to your matter that are payable to third parties.
Potential additional costs
- If there is no Will or the estate consists of shareholdings there are likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with. We can give you a more accurate quote once we have more information about the estate.
- The cost of dealing with the sale or transfer of any property in the estate is not included.
- The cost of dealing with finalising the deceased’s income tax affairs to the date of death or income and capital gains tax matters during the administration of the estate, and any such tax due, is not included.
How long will it take to complete the administration of an estate of this nature?
On average, estates that are subject to the payment of Inheritance Tax are dealt with within 9 to 12 months. Typically, obtaining the Grant in the estate takes 12 to 16 weeks from the date on which you provide us with estate information. Collecting assets after the issue of the Grant then follows and can take between 4 to 6 weeks. Preparing the final Accounts for your approval and completing the distribution of the estate assets can take between 4 and 6 weeks.
The timescale can be affected by matters such as:
- Selling the property or shareholdings in the estate
- Time taken by H M Revenue and Customs to review the Estate in respect of the Inheritance Tax liability and agree valuations
- Time taken by H M Revenue and Customs to finalise income and capital gains tax matters to the date of death and for the administration period
- Time taken by financial or other institutions to respond to correspondence or provide information
- Any potential claims on the estate e.g. Department for Work and Pensions
We anticipate this will take between 15 and 25 hours work. Total costs estimated at £3,000.00 to £5,000.00 plus VAT, charged at 20%. This estimate is based on our junior solicitor rate of £200.00 per hour. Our senior lawyers have a higher hourly rate which reflects their experience.
Contact Us for further information
Dealing with the application for the Grant only
A Personal Representative can handle the estate administration themselves but may need assistance with the application for the Grant in the estate. We can provide a Grant-only service. The Personal Representative will provide us with the relevant estate information and as part of this service we will:
- Identify the type of Grant application required
- Complete the relevant H M Revenue and Customs forms to report the assets and liabilities of the estate
- Draft the required Oath for you to swear
- Correspond with the Probate Registry on your behalf
- Correspond with H M Revenue and Customs if the full Inheritance Tax Account is required
- Assist with arrangements to pay the Inheritance Tax from accounts in the deceased’s name, if Tax is payable
How much does the Grant-only service cost?
From £950 plus VAT for a Grant application which does not require the completion of the full Inheritance Tax Account.
From £1500 plus VAT for a Grant application which requires the completion of the full Inheritance Tax Account.
A fixed fee quote will be provided when sufficient information about the estate is provided.
Disbursements such as the Probate Registry fee will also be payable.
