Each Individual Estate is Different
Some may be relatively simple and be concluded quickly whilst others can be much more complex for a variety of reasons and therefore take substantially longer to complete. It is difficult to accurately estimate the fees which will be payable or the length of time it will take to complete the administration of an estate until we assess the assets within it and the complexity in dealing with those assets and beneficiaries who are entitled to it.
Charging is normally carried out by reference to the time, complexity and expertise required in dealing with the matter.
We can help you through this difficult process by obtaining the Grant of Probate, and can also undertake the collecting and distributing of assets and the general administration of an estate.
We can also advise upon area’s where tax savings can be made upon the estate by utilising reliefs and looking ahead to reducing IHT upon beneficiaries in future if this is applicable.
Our probate fees do not include the sale of any land or property, this would be dealt with as a separate matter.
Any Inheritance Tax, or any other taxes payable are NOT included in our Fees.
For this type of estate the anticipated fees would be between £5,000 and £12,000. The anticipated time scale would be between 6 and 12 months.
Middle UK Estate
Assuming as follows:
For this type of estate the anticipated fees would be between £12,000 and £25,000. The anticipated time scale would be between 12 and 24 months.
Moderately Complicated Estate
Assuming as follows:
For this type of estate the anticipated fees would be between £25,000 and £60,000. The anticipated time scale would be between 18 and 24 months.
Exceptionally complicated UK and overseas estates
- The time and cost involved in an estate such as this would be dependent on the nature of the situation and the value of the Estate and Assets within it which are likely to be more complex. Often, not all information is readily accessible in the initial stages of such a matter. Our fees would initially be discussed and revised as the matter progresses.
- The timescales involved are dependent upon a range of factors.
VAT at 20% is charged on all our fees.
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.
Typical disbursements incurred during the administration of an Estate include:
- Probate Court Fee – currently £273.00;
- Official copies of the Grant - £1.50 each;
- Bankruptcy Search - £2.00 per beneficiary;
- Land Registry Search - £7.00; and
- Statutory Notices in the London Gazette and a local newspaper – circa £200.00 + VAT per item.
Other additional costs may be incurred during the Estate administration such as:
- Valuation fees for properties and contents;
- House clearance costs;
- Estate Agents fees;
- Legal fees upon the sale or transfer of property; and
- Fees for finalising Tax affairs.
- Other administration expenses include but are not limited to: advertisements, utility expenses and insurance for properties.