After someone's death their estate, i.e. their assets and belongings, will need to be dealt with, a process known as the estate 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: £180.00 plus VAT per hour. Full details of individual’s 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 start at £500 plus VAT and disbursements.
The average fee is £550 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 start at £950 plus VAT and disbursements. The average fee is £1500 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): Estates with a gross value under £150,000 - our fees range from £750 to £1500 plus VAT and disbursements depending on the complexity of the estate Estates with a gross value between £150,000 and £1,000,000 – our fees are 1% of the gross value of the estate. Estates with a gross value over £1 million – our fees are 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.
These include but are not limited to: Probate fee, £155 plus additional copies of the Grant £1.50 each Bankruptcy searches, £2.00 for each beneficiary if based in the UK Statutory advertisements, approximately £200.00 plus VAT Land Registry Fees Please note that dealing with the sale of any property which forms part of the estate or drafting deeds of variation is not included in the costs.
Obtaining the Grant of Probate will usually take between 6-8 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 complexity of the estate.
We are able to offer comprehensive advice on inheritance tax planning and to prepare appropriate Wills whether simple or complicated
We can advise and assist you in connection with the preparation and submission of a Lasting Power of Attorney
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.
We have a dedicated team of residential property experts who can deal with many conveyancing transactions
Our specialist commercial property solicitors can provide advice on all commercial property sectors whether retail, office or industrial.