Probate

 

Charges

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To obtain Grant of Probate/ Letters of Administration, we would charge on a time spent basis at the current hourly rate of £300 plus VAT at 20% and any disbursements. As with all matters we will provide you with an indicative figure of an overall cost depending on the complexity of the estate. 

 

Full estate administration – we will charge on a time spent basis at the current hourly rate of £300 plus VAT at 20% per hour plus disbursements subject to a minimum of 0.25% plus VAT of the value of Property (Land and Buildings) and the value of all other assets.

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Simple Estates may include:

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• Property owned/ cash at bank/pension

• Completion of the short form Inheritance Tax Form(s) 

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Such matters will be charged between £1,500 to £3,500

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Complex Estates may include:

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• Complex investments/ overseas assets

• Completion of the long form Inheritance Tax Form(s)

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Such matters will be charged between £3,500 - £5,000+

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The figures provided above are a rough estimate. Costs on each matter will vary depending on specific circumstances. Please contact us in order to receive a bespoke quote.

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Service provided

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• Investigating the deceased estate

• Contacting relevant third parties to advice them of the death 

• Close accounts/ obtain final account statements 

• Draw in funds 

• Ascertain the extent of the deceased estate

• Complete relevant forms 

• Payment of any Inheritance Tax Liability from available funds

• Applying for Grant of Probate/ Letters of Administration

• Drawing in balance of the Estate

• Settling any debts that the deceased might have 

• Prepare estate accounts

• Distribute the residuary estate 

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Disbursements

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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.

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●      Application fee :

        If the value of the estate is over £5,000, the application fee is £273.

        There is no fee if the estate is £5,000 or less.

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●       The application fee includes one probate document. You can order extra copies             for £1.50 each. 

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●      Advertisement in The London Gazette – Protects against unexpected claims from           unknown creditors £78 plus VAT

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●      Advertisement in a Local Newspaper - This helps to protect against unexpected             claims estimated at £150 plus VAT

 

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Potential additional costs

 

●      If there is no Will or the estate consists of any share holdings (stocks and bonds)           there is likely to be additional costs that could vary 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 each

●      Dealing with the sale or transfer of any property in the estate is not included and             an additional charge will apply. You will be advised of this nearer the time

 

How long will this take?

 

On average, estates that are simple estates are usually dealt with within 1-6 months. Obtaining the Grant of Probate takes 16 weeks from the day the application is made at the Probate Registry. 

 

Collecting assets then follows, which can take between 6 to 8 weeks. Once this has been done, we can distribute the assets, which normally takes 4 to 6 weeks.

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Whilst every effort has been made to ensure the above fees are accurate we reserve the right to raise further charges if the complexity or amount of work involved exceeds levels anticipated at the outset.