Probate pricing

Scenario 1

Here there is no Inheritance Tax payable. In this scenario, our charges will be in the range £2,500 to £5,000. This should cover 12-15 hours’ work, at hourly rates varying from £215 to £395, depending on the seniority of the person dealing with the case.

The exact cost within the range will depend on the individual circumstances of the case, taking into account the time taken to complete the case.

VAT to be added to the above estimates is currently chargeable at 20%.

Scenario 2

Here the Executors need to submit a full account to HMRC, using Form IHT400, but no Inheritance Tax is payable. In this scenario, our charges will be in the range £4,500 to £9,000. This should cover 20-25 hours’ work, at hourly rates as set out above, depending on the seniority of the person dealing with the case.

The exact cost within the range will depend on the individual circumstances of the case, taking into account the time taken to complete the case.

VAT to be added to the above estimates is currently chargeable at 20%.

Scenario 3

Here the Executors not only need to submit a full account to HMRC, using Form IHT400, but Inheritance Tax is payable. In this scenario, our charges will be in the range £6,500 to £10,000. This should cover approximately 30 hours’ work, at hourly rates as set out above, depending on the seniority of the person dealing with the case.

The exact cost within the range will depend on the individual circumstances of the case, taking into account the time taken to complete the case.

VAT to be added to the above estimates is currently chargeable at 20%.

Disbursements

In addition, there will be disbursements, which are costs related to your case that are payable to third parties, such as Court fees. We will handle the payment of the disbursements on your behalf to ensure a smoother process, but the cost of any disbursement is not included in the above estimates and will be charged additionally, as follows:

• Probate Application Fee: £273 plus £1.50 per copy (usually one per asset)
• Bankruptcy-Only Land Charges Department Searches: £2.40 per beneficiary

Optional disbursements payable to protect against unexpected claims from unknown creditors or beneficiaries:

• Estate Assets Searches: £185+VAT
• Advertising in the London Gazette and a local newspaper: £200 to £300

Additional Costs

These costs estimates are for straightforward cases within the parameters set out. Please contact us and submit our Probate Questionnaire so that we can give you a more accurate quote once we have more information about the facts of your case.

Additional costs will be incurred in cases where any of the following circumstances apply:

• If there are numerous beneficiaries, including charities
• If there is no Will, in which case it may be necessary to employ third party commercial organisations to search for possible heirs
• Where the estate consists of any shareholdings (stocks, bonds, and other investments), where dealing with the investments will vary considerably depending on the estate
• Dealing with the sale or transfer of any property in the estate
• Dealing with any trusts that arise under the Will or intestacy
• The preparation and processing of Income Tax and Capital Gains Tax Returns to the date of death and/or for the period of the administration of the estate
• If the estate contains any foreign assets
• Advising on and preparing a Deed of Variation

Note: The costs estimates exclude VAT at the current rate of 20%. In the event that there is a change in the rate of VAT, our costs estimates will be amended accordingly.

How long will the process take?

Again, the simplicity or complexity of the particular case will determine the length of time that is needed to complete the process. Taking into account the scenarios mentioned above:

On average, estates coming in Scenario 1 are likely to take 3 to 9 months to complete. Typically, obtaining the Grant of Probate will take up to 20 weeks. Collecting in the assets after the Grant has been issued will take between 4-6 weeks. Once this has been done, we would expect to be able to distribute the assets to the beneficiaries which may take a further 2-4 weeks.

In Scenarios 2 and 3, cases which involve correspondence with HMRC are likely to take longer. For a taxable estate the whole process may take an additional 6 months on top of the timescales indicated above.

Where it is necessary to correspond with independent third parties, the time taken will often be outside our control and the time estimates included here are to be regarded as indicative only. In all cases, however, we will keep you updated with timescales and will always aim to speed matters along as best we can.

Please note that you should wait at least 2 months from the date of publication, if you are advertising for creditors, and at least 6 months from the issue of the grant of probate, if there is a risk of family claims against the estate. Whilst these periods will run concurrently with the administration of the estate, the timescales set out above may be affected.

Please note both HMRC and the Probate Registry have significant backlogs at present and the time taken up to the issuing of a grant is out of hands and could be considerably longer than the above timescales given.

Anti-Money Laundering Checks

We charge a fee of £20 plus VAT per person to undertake Anti-Money Laundering (AML) checks. This fee may increase if there are international elements involved or where further work must be undertaken to satisfy our obligations to identify and verify a client or a third party in the transaction such as a giftor who we are similarly required to verify and identify such as giftors.

Authorised and regulated by the Solicitors Regulation Authority.

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