The Probate team has over 110 years of total experience in delivering high quality work in all matters relating to Wills and estate administration. The team does have particular expertise in high value estates and inheritance tax matters. We have seven members of the team who may work on your matter. Regardless of who works on your matter they will be supervised by Ashley Iredale, Partner and Head of Probate and Estate Administration.
Range of costs
Applying for the Grant of Probate, collecting and distributing the assets.
We anticipate this will take between 8 and 12 hours’ work and our fees can be in the range of £1,360.00 plus VAT to £2,880.00 plus VAT. The range of fees quoted is wide as this can be affected by the hourly charging-out rate of the team member that deals with the work on your behalf and our current hourly rates range from £170.00 per hour to £240.00 per hour plus VAT.
The exact cost 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 and multiple bank accounts, costs will be at the high end.
We will handle the full process for you. This quote and our time estimate is for estates where:
In addition to our costs, extra expenditure (called ‘disbursements’) will be payable:
Disbursements are expenses 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.
Potential additional costs:
The above example is for a standard case and full specific estimates for your case and the level of team member from our firm to be appointed on your behalf can be obtained by contacting us.
How long with this take?
On average, estates that fall within this range are dealt with within 6 months. Typically, obtaining the Grant of Probate takes 6 to 8 weeks. Collecting assets then follows, which takes 3 to 4 weeks. However, achieving a sale of the property can take some months and depends on a buyer being found. Once this has been done, we can distribute the assets and obtain receipts, which normally takes 5 to 6 weeks.
More complex cases
More complex cases, including where inheritance tax is payable; where lifetime inheritance tax-planning by the deceased is reportable by the executors to H M Revenue & Customs; where certain foreign property owned by the deceased has to be reported to H M Revenue & Customs; and where the deceased may have had an interest in a trust at the date of death which is reportable to H M Revenue & Customs involve much more work and time. Our charging-out rates vary depending on the experience of the member of our team who will carry out the work on your behalf, and that team member will be appropriate to the complexity or otherwise on the matter. The range of our charging-out rates is between £170.00 plus VAT per hour to £295.00 plus VAT per hour, not including disbursements as highlighted in our previous examples above, nor does it include inheritance tax payable or fees dealing with the sale or transfer of any freehold and/or leasehold property in the estate.
Our team members are experienced in such cases and they can provide you with an estimate or quotation following an initial consideration of what work will be required to deal with the administration of the estate.
Please note that we do not charge a percentage based on the value of the estate assets at all in calculating our fees.
Our team will be happy to discuss our fees and services, please call us on 01274 306 000.