SRA Transparency Rules Cost & Service – Probate

Probate: Range of costs (with fixed fee for additional work) and fixed fee

Our Wills and Probate department team headed up by Samantha Downs, who has a vast amount of experience when it comes to will writing tailored to a client’s individual needs as well as inheritance and tax planning and probate issues ranging for the straight forward to those more complex estates involving trusts’.

Applying for the Grant, collecting and distributing the assets

We anticipate this will take between 10 and 20 hours work at £160-£180 per hour + VAT, depending upon which member of staff works on your matter. Total costs estimated at £3,200- £3,600 +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, 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 3 bank or building society accounts
  • There are no other intangible assets
  • There are 5-10 beneficiaries
  • There are no disputes between beneficiaries on 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 £145 plus 50p for every sealed copy of the Grant thereafter (1 per asset usually)
  • £7 Swearing of the oath (per executor)
  • Bankruptcy-only Land Charges Department searches (£2 per beneficiary)
  • £83.40 (inclusive of VAT) Post in The London Gazette – Protects against unexpected claims from unknown creditors.
  • £132.17 (inclusive of VAT) 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 share holdings (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.
  • 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 6-12 months. Typically, obtaining the grant of probate takes 8-10 weeks. Collecting assets then follows, which can take between 3-4 weeks. Once this has been done, we can distribute the assets, which normally takes 3-4 weeks.

Fixed fee Probate – Obtaining the Grant only

Probate

We can help you through this difficult process by obtaining the Grant of Probate on your behalf. We will complete the IHT 205 and the application to obtain the Grant of Probate only based on the information you provide to us.

How much does this service cost?

TOAL: fixed fee of £840 (incl. VAT).

This includes: completing the IHT 205 and obtaining the grant.

Breakdown of costs:

Legal fees £700

VAT on legal fees £140

Disbursements:

  • Probate court fee of £145 plus 50p for every sealed copy of the Grant thereafter (1 per asset usually)
  • £7 Swearing of the oath (per executor).

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.

As part of our fixed fee we will:

  • Provide you with a dedicated and experienced probate solicitor or chartered fellow of the institute of legal executives to work on your matter
  • Identify the legally appointed executors or administrators
  • Accurately identify the type of Probate application you will require
  • 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 send sealed copies to you

On average, estates that fall within this range are dealt with within 3-4 months. Typically, obtaining the grant of probate takes 8-12 weeks.