Private Client Fees
Our fees to administer uncontested estates where all the assets are in the UK including both testate and intestate and taxable and non-taxable estates are as follows:
Our hourly rate is presently £200 excluding VAT (£240 inclusive of VAT) unless we are appointed as executors in which case our hourly rate is £220 excluding VAT (£264 inclusive of VAT).
In the vast majority of cases we anticipate the work required to be undertaken will take us between 8 and 46 hours work.
Total estimated costs are therefore likely to fall between £1,560 - £8,970 excluding VAT (£1,872 - £10,764 inclusive of VAT) or £2,520 - £9,660 excluding VAT (£3,024 - £11,592 inclusive of VAT) if we are executors.
We DO NOT charge different prices based on the value of the estate involved and nor do we charge a percentage of the value of the estate involved. We only charge for the time that is spent on the matter.
The exact cost will depend on the individual circumstances of the matter. However, the cost to administer the majority of estates does, in our experience fall midway between the range of costs set out above.
Alternatively, if there is one beneficiary and no property and just a few other assets, costs are likely to be at the lower end of the range although if there are either multiple beneficiaries, or if there is no Will or the estate consists of any share holdings (stocks and bonds) and multiple bank accounts, or if inheritance tax is payable costs are likely to be at the higher end.
We will always give you a more accurate estimate for the work required once we have more information, a clearer idea of what is involved and of course before we start work.
We will handle the full process for you and the range of costs set out above is for estates where:
There are no disputes between beneficiaries on division of assets. If disputes arise this is likely to lead to an increase in costs.
There are no claims made against the estate.
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 and will include some or all of the following:
- Probate application fee of £155 (Non-Vatable)
- Bankruptcy-only Land Charges Department searches (£2 per beneficiary) (Non-Vatable)
- £69.50 (Non-Vatable) Post in The London Gazette- Protects against unexpected claims from unknown creditors
- £75 (Non-Vatable) Post in a Local Newspaper- This also helps to protect against unexpected claims.
- Valuation fees
This is not intended to be an exhaustive list, but we will give you details of any other disbursements which may be applicable to your matter when we have more information.
Potential additional costs
If the estate consists of any share holdings (stocks and bonds) there may be additional costs if the shares are to be sold or if the holding is certificated but the relevant certificates are unavailable.
If any additional copies of the grant are required, they will cost £0.50 (Non-Vatable) (1 per asset usually).
Inheritance tax may also be payable and the following link will help you calculate the amount of such tax: www.hl.co.uk/tools/calculators/inheritance-tax-calculator.
Dealing with the sale or transfer of any property in the estate is not included in the range of costs set out above.
Dealing with the preparation of tax returns is not included in the range of costs set out above.
The cost of any professional valuations which may be required is also not included in the range of costs set out above.
How long will this take?
On average, estates are dealt with within 4-12 months. Typically, obtaining the grant of probate takes 12-16 weeks. Collecting assets then follows, which can take between 4-12 weeks. Once this has been done, outstanding debts and liabilities will need to ascertain and paid. A final estate account is then prepared for the approval of both the legal personal representative and the beneficiaries. When this has been approved, the estate can then be distributed. This process normally takes 17-24 weeks.
Fixed fee Probate only
We can help you through this difficult process by obtaining the Grant of Probate or letters of Administration on your behalf.
How much does this service cost?
TOTAL: fixed fee of £650 plus VAT (£780 inclusive of VAT).
- Providing you with a dedicated and experienced probate lawyer to work on your matter
- Identify the legally appointed executors or administrators.
- Accurately identify the type of application you will require
- Complete the Probate Application and HMRC form IHT 205
- Draft a legal oath for you to swear
- Make the application to the Probate Court on your behalf
- Obtain the Probate and send copies to you
This fixed fee does not include obtaining the relevant documents and financial information required to make the application.
If a full Inland Revenue Account is required to be delivered before your application can be made the TOTAL fixed fee will be £1300 plus VAT (£1560 inclusive of VAT) but does not apply if the estate attracts a liability to Inheritance tax and again does not include obtaining the relevant documents and financial information required to make the application.
Disbursements (these are in addition to the fixed fee)
- Probate application fee of £155 (Non-Vatable)
- Additional copies are charged at £3 each and one or two are usually needed taking the average cost to £158 or £161 respectively.