Probate Pricing

How much does this service cost? 

Grant only 
· For estates valued at less than £325,000 our fees for obtaining the Grant of Probate/Letters of Administration start at £1,200 plus VAT at 20% - being £1,440. 
· For estates valued at more than £325,000 our fees for obtaining the Grant of Probate/Letters of Administration start at £1,600 plus VAT at 20%-being £1,920. 
· For estates valued at more than £325,000 and require a full IHT400 report to HMRC our fees start at £2,000 plus VAT at 20% - being £2,400. 
 
 Full administration 
Our fees for a full administration service to include collecting and distributing of assets start at £2,000 plus VAT at 20%, (£2,400). Depending on the type and number of assets within the estate the fees will be calculated by the time actually spent on the matter unless a fixed fee has been agreed. An estimate of time spent on each estate will be discussed at the outset and regularly reviewed. For example, if there is Inheritance Tax to be paid on an estate the fee estimate will be increased to reflect this. 

The above charges do not include the following which will be quoted for separately: 
· Variation of a Will or Intestacy 
· Dealing with the sale, transfer or assent of any property 
· Income Tax returns 
· Capital Gains Tax return
 
Disbursements 
Typical disbursements in an estate administration include but not limited to the following: 
· Probate Court Fee £273 (no VAT) 
· Additional copies of Probate £1.50 (no VAT) per copy 
· Trustee Act Notice in the London Gazette and a local newspaper range between £80 (being £66.67 and 20% VAT £13.33)   to £350(being £291.67 and 20% VAT £58.33)including VAT at 20% 
· HM Land Registry fees of £3 (no VAT) per office copy of any properties owned by the deceased 
 

The estate may also be responsible for other administration costs including but not limited to the following: 

· Estate agent valuation fees 
· Valuers or auctioneers fees 
· Genealogists fees for locating beneficiaries 
· Property insurance 
· Notary fees and/or overseas agents if there are assets in other jurisdictions 
· Bankruptcy searches 
· Portfolio/Share valuations
 
Example 1 
Probate only in a typical case where the deceased left assets in the region of £250,000 the fee would be in the region of £1,718 made up as follows: 

Our fees: £1,200 
VAT at 20%: £240
Disbursements: £278 

Total-£1,718

Based on all asset and liability information being provided by the Executors of the estate. Additional administration expenses may also be payable by the estate and will differ in each estate.

 
Example 2 
Probate only in a typical case where the deceased left assets in the region of £450,000 with a transferable nil rate band available to be used so that no Inheritance Tax is due the fee would be in the region of £2,198

made up as follows: 

Our fees: £1,600 
VAT at 20%: £320 
Disbursements: £278 

Total-£2,198

Based on all asset and liability information being provided by the Executors of the estate. Additional administration expenses may also be payable by the estate and will differ in each estate.
 
Example 3 
Full administration in a simple estate comprising of one property and three bank accounts with the same bank and where there is no Inheritance Tax due to be paid due to a transferable nil rate band being available. We anticipate this will take between 10 and 15 hours work the fee for which would be in the region of £2,200 - £3,300 plus VAT at 20%- being a total of £2,640-£3,960 based on an hourly rate of £220 plus VAT. Additional administration expenses may also be payable by the estate and will differ in each estate. 

On average, estates that fall within this range are dealt with within 6 to 12 months.
 
Who will the work be done by:

   
Tamsin Bailey, is a senior consultant solicitor who qualified in 2004 and specialises in all areas of private client work.

Luke Roberts, is a consultant partner who qualified in 2006 and specialises in all areas of private client work and also has expertise in inheritance tax and capital gains tax planning.