Because the services we offer are bespoke, the following charges are intended to be an outline guide only and the exact figure will always depend on the individual facts and circumstances of the matter.
We will give you an initial estimate which is tailored to the specific facts and circumstances once information about the estate’s assets, its beneficiaries and relevant documents have been considered.
Our fees for the administration of an estate range between 1% to 3% of the gross value of the estate (with a minimum fee of £2,000 plus VAT) depending on the complexity of your case. The costs can range anywhere between £2,000 and £20,000 plus VAT depending on how complex the matter is.
- Where for example there is a straightforward estate with a valid will that is made up of a single property and bank account with no inheritance tax liability we would expect our fees to be between the range of £2,000 to £4,000 plus VAT.
- Where there is a high value estate with multiple properties, investments and overseas assets with an inheritance tax liability our fees are likely to be between the range of £10,000 to £22,000 plus VAT depending on the gross value of the estate.
Disbursements are costs related to your matter that we would have to pay to third parties. They are likely to include:
- probate court fee £273 (plus £15 for 10 copies);
- bankruptcy only Land Charges Department Searches: £2 per beneficiary;
- post in the London Gazette: £80.00, which protects against unexpected claims from unknown creditors;
- post in local newspaper: approximately £80.00.
In most cases obtaining a Grant of Representation takes approximately between 3 and 6 months. Straightforward estates then can be administered within a few months of obtaining the Grant of Representation. However for more complex estates we tend to find that the average timeframe to administer them is approximately 6 to 9 months.
Key stages in the probate process
The stages will vary depending on the circumstances although most cases will generally involve:
- meeting with the executors or the family to take instructions and discuss the process;
- obtaining details of assets and liabilities of the estate;
- preparing an inheritance tax return and probate application;
- collecting the deceased’s assets and settling any liabilities; and
- distributing the estate and finalising the tax position.
Our costs set out on this page are based on our work broadly comprising the above steps and do not include the following:
- contested estates;
- costs for drafting Deed of Variation;
- dealing with an insolvent estate;
- the sale or transfer of any property in the estate;