Probate and Estate Administration

After someone's death their estate i.e. their assets and belongings will need to be dealt with, a process known as administration. We understand that this can be an extremely upsetting and distressing time and our clients can therefore rely upon us to deal with their matters respectfully and sympathetically. We can offer a full range of services in connection with the administration of estates and are able to tailor our service to suit individual requirements.

The average charging rate for team members is GBP180.00 plus VAT per hour. Full details of individuals charge out rates are included in the client care pack that is sent to you following instruction. We can either just act to obtain the grant of probate / letters of administration or we can act in the administration of the entire estate.

Obtaining the Grant of Probate only for Executors.

In the majority of cases when you provide valuations and relevant information to us to enable us to obtain the Grant of Probate we charge a fixed fee. This will depend on the complexity of the estate.

Our fees range between GBP450.00 plus VAT and GBP1,000.00 plus VAT and disbursements. The average fee is GBP500.00 plus VAT and disbursements for an estate which will not pay Inheritance Tax and will not require a transferable nil rate band application or a full Inland Revenue account (IHT 400).

If the estate is liable to pay Inheritance Tax or a full Inland Revenue account (IHT 400) is required our fees range from GBP1,000.00 plus VAT to GBP2,000.00 plus VAT and disbursements. The average fee is GBP1,500.00 plus VAT and disbursements but in order to provide a fixed fee or estimate we will require further information about the estate as there may be investigations to be carried out by HMRC.

Once the Grant of Probate is obtained this is forwarded to the Executors to enable them to administer the estate.

Full Estate Administration.

We generally work on a fixed fee basis which provides certainly for the Executors.

Generally, our fixed fees for estates are as follows (all fees are subject to VAT):

Under GBP150,000 from GBP750 to GBP1500

Between GBP150,000 and GBP1,000,000, 1% of the gross value of the estate.

Over GBP1 million, 1.5% of the gross value of the estate.

However, we will tailor our fees accordingly depending on the nature and extent of the estate and will be happy to discuss this with you at an initial meeting.

We may not be able to offer a fixed fee in some circumstances if:

there is the possibility of someone challenging the will.

there are overseas assets.

there are complex assets.

Disbursements.

These include but are not limited to:

Probate fee, GBP155 plus additional copies of the Grant 50p each

Swearing of the Oath, GBP5.00 for each Executor plus GBP2.00 for each document

Bankruptcy searches, GBP2.00 for each beneficiary if based in the UK

Statutory advertisements, approximately GBP200.00 plus VAT

Valuation fees

Land Registry Fees

Dealing with the sale of any property which forms part of the estate or drafting deeds of variation is not included in the costs.

Timescale

Obtaining the Grant of Probate will usually take between 2-6 weeks once all information has been received to enable the application to be prepared. Estate administration can take between 3-18 months depending on the estates complexity.

Contact Stephen Thornton