PROBATE
Applying for the grant, collecting and distributing the assets
We can help you through this difficult process by obtaining the Grant of Probate (or Letters of Administration) on your behalf. We will also undertake the collecting and distributing of assets within the deceased’s estate.
Fees and disbursements
For a straightforward matter we usually estimate that obtaining a Grant will take between 6 and 8 hours work at £300 per hour, i.e. £1,800-2,400 (excluding VAT and disbursements). The exact cost will however depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property, costs will be at the lower end of the range. If there are multiple beneficiaries, a property or multiple bank accounts, costs will be at the higher end. We reserve the right to revisit any fee estimates should any factors come to light that necessitate further work items.
This estimate is for estates where:
- There is a valid will
- There is no more than one property
- There are no more than 2 bank or building society accounts
- There are no other intangible assets
- There are 1-2 beneficiaries
- There are no disputes between beneficiaries on division of assets (if disputes arise this is likely to lead to an increase in costs)
- There is no inheritance tax payable and the executors do not need to submit a full IHT account to HMRC
- There are no third party 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. The likely disbursements will be:
- Probate application fee – currently £215 if the value of the estate is £5,000 or over (no fee is payable if the estate is under £5,000))
- Oath fee – £7 (per executor)
- Bankruptcy-only Land Charges Department searches -£2 per beneficiary
- Advertisement in The London Gazette (protects against unexpected claims from unknown creditors) – currently £62.15
- Advertisement in local newspaper (also helps to protect against unexpected claims) – £TBC (dependent upon the newspaper concerned).
As part of our service we will:
- Provide you with a dedicated and experienced probate consultant to work on your matter
- Identify the legally appointed executors or administrators and beneficiaries
- Accurately identify the type of Probate application you will require
- Obtain the relevant documents required to make the application
- Complete the Probate Application and the relevant HMRC forms
- Draft a legal oath for you to swear
- Make the application to the Probate Court on your behalf
- Obtain the Probate and securely send two copies to you
- Collect and distribute all assets in the estate
Potential additional costs:
If there is no will or the estate consists of any share holdings (stocks and bonds) there are likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with. We can give you a more accurate quote once we have more information.
If any additional copies of the grant are required, they will cost £0.50 (1 per asset usually).
Dealing with the sale or transfer of any property in the estate is not included.
How long will this take?
We aim to deal with estates that fall within this range within 3-4 months. Typically, obtaining the grant of probate takes 8-10 weeks. Collecting assets then follows, which can take a further 4 weeks (or longer depending on the relevant circumstances). Once this has been done, we can distribute the assets, which normally takes 2 weeks.