Probate
We charge an hourly rate for managing probate. The overall cost will vary according to how complicated the estate is. Factors that can make probate more complicated and therefore more expensive include where there many beneficiaries, if there is a house and whether the estate is chargeable for Inheritance Tax.
The higher the value of the property, the more complex the transaction and to reflect that we charge 0.5% of the gross value of the estate which we charge at the end of the process when the sale values are known. If we’re transferring the property to a surviving joint tenant, we reduce that charge to 0.5%.
Need to include hourly rates:
Solicitor
Paralegal
Depending upon instructions it maybe possible we can only give you an estimate of our fees to agree to act for you at a fixed rate, however. The estimate would be based on the information you provide to us at the time. In the event of a substantial amount of additional work being involved, we reserve the right to make an additional charge. We will advise you on this at the earliest opportunity.
Please note Value Added Tax at the current rate at the date of billing is payable, where applicable.
Disbursements
Disbursements are costs payable to third parties and include fees to Probate Registry, Land Registry fees, costs for confirming the identity of the executors and beneficiaries. We handle the payment of disbursements on your behalf. To give you an idea of the cost of disbursements, these are listed below:
Disbursement | Fee | VAT | Total |
Probate Fee | £ 155.00 | £ 155.00 | |
Office Copies for the Grant of Probate (per copy) – for example, 6 | £ 1.50 | £ 1.80 | £ 10.80 |
Land registry copy fee | £ 3.00 | £ 0.60 | £ 3.60 |
Bankruptcy Search fee (per beneficiary) | £ 2.00 | £ 0.40 | £ 2.40 |
Confirmation of identity (per person) | £ 10.00 | £ 2.00 | £ 12.00 |
Advert in the London Gazette and local paper (est) | £ 150.00 | £ 3.00 | £ 180.00 |
An example of fees
A typical example of the probate for an estate includes the following:
- There is a valid Will
- There is no more than one property
- There are no more than 3 bank or building society accounts
- There are no other intangible assets
- There are 1 -3 beneficiaries
- There are no disputes between beneficiaries on the division of assets. If disputes arise this will lead to an increase of costs
- Where there are no trusts in the Will
- Where there are no missing beneficiaries
- There is no Inheritance Tax payable and the executors do not need to submit a full account to HMRC
- There are no claims made against the estate
Based on our time spent to manage this process, our fees for the above example would fall in the range £2-4,000 plus VAT not including disbursements. This is meant as a guide. Please do contact us for a detailed estimate for the estate in question.
Inheritance Tax
There are too many factors that impact Inheritance Tax for us to be able to give you a blanket estimate of the amount of tax that might be due. Inheritance Tax due is impacted by the size of the estate as well as any measures put in place by the deceased to limit tax liability. The government offer Inheritance Tax calculators which you can find at: https://www.gov.uk/guidance/hmrc-tools-and-calculators#inheritance-tax-and-bereavement
Additional Costs and Exclusions
We will advise you of any changes as quickly as possible with a clear estimate for any additional costs. These are likely if further assets are discovered during the administration process. In particular, if there is no will or the estate includes share holdings there may be additional costs depending on how the probate is to be managed.
We don’t include the cost of selling or transferring a property in our fee, but we can include this in your quotation if needed. You may also require the services of an accountant and valuations of the property, savings, investments or other assets.
