Probate Applications and Estate Administration
For our full Estate Administration service we will:-
The complexity of probate applications and Estate Administration varies depending on a number of factors such as:
Generally speaking, we classify an Estate as straightforward to deal with if :
Our fees for estates that are not liable to Inheritance Tax will generally be lower than those which are. The number of beneficiaries and assets that we are required to deal with will also affect the level of our fees.
Disputes between beneficiaries or executors are likely to lead to an increase in fees and in that event, the matter may need to be referred to another department within the firm.
Our Estate administration service can generally be divided into the following areas of work:
|Type of Work||Cost||Typical timescale||Complexity factors incurring further costs|
|Obtaining a grant of probate in a straightforward estate with no inheritance tax to pay||£1,000 + VAT||3-6months||This fee is only applicable if the Executors have identified the full value of the estate.|
|Obtaining a grant of probate in a straightforward estate with inheritance tax to pay||From £3,000 + VAT||3-9 months||This fee is only applicable if the Executors have identified the full value of the estate.
Further work will be required if the estate is subject to an HMRC Compliance Check
|Obtaining a grant and administering an estate where there is a valid Will and no Inheritance Tax to pay||From £2,000 + VAT||3-9 months||If there are shareholdings (stocks and bonds) or other complex assets involved, further work will be required depending on how they are to be dealt with|
|Obtaining letters of administration where there is not a Will (an intestacy) and administering the estate. No inheritance tax to pay||From £2,500 + VAT||3-12 months||Further work may be required to locate missing beneficiaries by instructing a specialist firm who will charge their costs separately at the time of instruction|
|Obtaining a grant/ letters of administration and administering the estate where no inheritance tax to pay but a full Inheritance Tax Return required||From £4,500 + VAT||Within 12 months but depending upon HMRC||In some cases a full inheritance tax return will be required even though inheritance tax is not payable|
|Valid Will or intestate
Inheritance tax payable
Full inheritance tax return required
|From £6,000 + VAT||Minimum of 12 months dependant upon HMRC investigations||A taxable estate will require a full tax return setting out the details of each asset. Additional work may be required when claiming nil rate bands from a former deceased spouse’s estate as the former spouse’s estate value would also need to be established.|
The following expenses may apply:-
|Probate application court fee||£273.00 + £1.50 per additional copy||Fixed fee|
|Office Copy Entries||£3.00 + VAT||Number of office copies obtained depending on number of properties and whether both leasehold and freehold titles registered separately|
|Bankruptcy searches||£2.00 + VAT||Number of personal representatives and beneficiaries against whom searches need to be made|
|Advertisement in the London Gazette to protect against unexpected claims from unknown creditors||£85.00 + VAT|
|Advertisement in local newspaper||Unknown + VAT||The charges will vary depending on the cost of the relevant local newspaper|
Value Added Tax “VAT”
All of our fees set out are exclusive of VAT which is currently chargeable at a rate of 20%.
Please note that we will ask for a payment from you in respect of all anticipated expenses where the estate is not yet in funds.
We will be able to provide you with a more accurate fee estimate once we have sufficient information about the estate.
We will advise you of the likely timescale to complete the Grant application and Estate Administration at the outset. Any timescale given will depend to a large extent on processing times at HMRC and the Probate Court which can vary considerably.
We will keep you up to date with regard to timescales and our fees and will provide a full explanation if either needs to be revised.
Meet the team
|Tracey Lane||Chartered Legal Executive|
David has over 20 years of experience in delivering quality work in all matters relating to Wills, Estate Administration and Trusts. He supervises the team which collectively has over 60 years of experience. The team has particular expertise in high value estates, trusts and Inheritance Tax matters and a strong reputation in dealing with agricultural estates.
The following table sets out the details of those who may work on or otherwise supervise your file.
|Director||£300 + VAT|
|Associate Director||£250 + VAT|
|Solicitor/ Legal Executive||£240 + VAT|
|Paralegal||£200 + VAT|