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Our probate service can cover as much or as little of the administration of an estate as you require. We do not insist on taking over the entire administration but are happy to provide a full administration service if required.
Our minimum fee for obtaining a Grant of Probate/Letters of Administration is £2,000 exc VAT.
This includes ensuring the appropriate application is made, including completion of the inheritance tax return and legal statement required to apply for the grant based on information you have provided. We will store the original grant free of charge and provide sealed copies to the personal representatives so that they may complete the administration of the estate.
Our charges are based on time spent and not the value of the estate. We believe this is a fairer charging system and ensures you only pay for the work that is actually needed. The exact cost will depend on the individual circumstances of the matter. Estates with few assets and a single beneficiary will be at the lower end of the fee scale whereas estates with many assets or many beneficiaries will mean costs will be higher. We will never charge a value element. We will provide you with an estimate based on the information given at the outset. Our hourly rates are currently (exc VAT):
We would anticipate costs for the full service will be between £6,000 and £9,000 excl. VAT based on the following assumptions:
There are generally additional expenses payable to third parties as part of the administration process. These can vary depending on the assets but the following are an example:
The following are likely to lead to additional costs, which will vary depending on the estate. We can provide an accurate quote once we have full information:
Estates which fall within the range above usually take 4 to 6 months. Obtaining the grant takes a minimum of 8 weeks from when the application is submitted. Collecting the assets can take between 2 to 6 weeks.
Insights 16 AUGUST 2022