PROBATE CASES

SRA Transparency Rules – Probate (range of costs)

Applying for the grant, collecting and distributing the assets

We anticipate this will take between 10 and 20 hours work at £200.00 per hour. Total costs estimated at £2,000 – £4,000 plus VAT at 20% amounting to £400 to £800. In addition, there will disbursements as detailed below.

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, a property and multiple bank accounts, costs will be at the higher end.

We will handle the full process for you. This quote is for estates where:

There is a valid will

There is no more than one property

There are no more than 2 bank or building society accounts

There are no other intangible assets

There are 2-3 beneficiaries

There are no disputes between beneficiaries on the division of assets. If disputes arise this is likely to lead to an increase in costs

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

Disbursements not included in this fee:

Probate application fee of £155.00

£5.00 + £2.00 per additional document – Swearing of the oath (per executor)

Bankruptcy-only Land Charges Department searches (£2.00 per beneficiary)

Post in The London Gazette – Protects against unexpected claims from unknown creditors - £87.30+VAT at 20% amounting to £17.46. Total £104.76.

£185.00+VAT at 20% amounting to £37.00. Total £222.00. Post in a Local Newspaper – This also helps to protect against unexpected claims.

Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

Potential additional costs

If there is no will or the estate consists of any shareholdings (stocks and bonds) there is 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.

If any additional copies of the grant are required, they will cost £0.50 (1 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 6-9 months. This is however particularly variable and will depend upon a number of factors such as the complexity of the estate, the need to sell or transfer assets and any additional works that may be required such as deeds of variation or disclaimer. We will be able to provide a more accurate time estimate specific to your individual case once we obtain further information about the matter from you.

How long will the process take

It is difficult a definitive time estimate as there can be delays in obtaining financial information from financial institutions, property valuations and potential delays with the Probate Registry and HMRC. The average case is likely to take between 9 to 12 months.

Stages of the Process:

1. Meeting with you to take detailed instructions on the deceased estate to include all assets, jewellery, articles of value, bank and other accounts.

2. Valuation of the estate.

3. Advising on exemptions and inheritance tax and liabilities.

4. Completing relevant probate application forms for submission.

5. Accounting for any tax liabilities.

6. Obtaining grant of probate.

PROBATE CASES

SRA Transparency Rules – Probate (range of costs)

Potential additional costs

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