Full Probate

Our charges will be calculated by reference to the time spent by solicitors and executive staff dealing with the matter. Our hourly rates are between £195 and £325 per hour plus VAT depending on the experience and qualifications of the person undertaking the work. The average simple administration of an estate costs £3,500 plus VAT. The charging rates quoted are reviewed periodically. In addition there will be some or all of the following disbursements:

Probate fees: £300 plus £1.50 per additional copy of the grant

Bankruptcy searches: £2 per named search

Trustee Act notices: £200 approx. if required

(posted in The London Gazette and a local newspaper to protect against claims from unknown creditors)

Disbursements are costs related to your matter that are payable to third parties. We handle the payments on your behalf to ensure a smoother process. There is no VAT applicable to any disbursements.

Our first bill is usually submitted once we have submitted the application for the Grant to the Probate Registry. We then bill monthly or when the work in progress reaches £500 whichever is the sooner.

If it becomes apparent that more time is required then we have estimated, we shall let you know at the earliest possible opportunity. In any event we will review our costs with you every 6 months.

If for any reason this firm does not complete work you have instructed us to do then a charge subject to VAT will be made in respect of the work that has already been completed and you will also be billed for any expenses which we have incurred.

The charges set out above cover the following:

• There is a valid Will
• There is no more than one property
• There are no more than 5 bank or building society accounts
• There are no other intangible assets
• There are 1 – 4 beneficiaries
• There are no disputes between beneficiaries on division of assets. If disputes arise this is likely to lead to an increase in costs
• There is no inheritance tax payable and the executors do not need to submit a full account to HMRC on Form IHT400
• There are no claims made against the estate

In particular, the estate administration does not extend to the formal setting up of any trusts contained in the Will and the costs for this work would be dealt with separately. Further it does not extend to advice regarding Deeds of Variation or the preparation of the Deed of Variation. Nor does it include the costs of dealing with the sale of any private company shares or the vesting of property into the names of the beneficiaries and completing the Land Registry requirements nor the conveyancing fees in connection with the sale of any property held in the estate.

If we are instructed to undertake further work we would need to make additional charges and I confirm that I will inform you of what these charges would be at that time.

The cost of administering a complex estate where Inheritance Tax is payable and a return on Form IHT400 is required depends on the number of assets involved and the complexity of the return required by H M Revenue and Customs can be £12,000 and above.

There is usually no problem over payment of our bill since it is a charge on the assets of the estate and the personal representatives and beneficiaries are not normally called upon to make any payment from their own pockets in this respect. However, we may ask the executors for money on account of the disbursements which will be refunded once estate funds become available.

Fixed Fee Grant Only

Our fees will be £1,500.00 plus VAT plus the following disbursements (there is no VAT applicable to any disbursements):

• Probate fees and office copies: £300 plus £1.50 per copy of the Grant of Probate

As part of our fixed fee we will:

• Complete the Probate Application and the relevant HMRC form IHT 205
• Draft a statement of truth for execution by the Executors
• Make the application to the probate court on your behalf
• Obtain the probate and securely send two copies to you

The fee does not extend to ascertaining the value of assets, completion of Form IHT 400, distribution of the estate or the formal setting up of any trusts contained in the Will and the costs for this work would be dealt with separately. Further it does not extend to advice regarding Deeds of Variation or the preparation of a Deed of Variation. Nor does it include the costs of dealing with the sale of any private company shares or the vesting of property into the names of the beneficiaries and completing the Land Registry requirements nor the conveyancing fees in connection with the sale of any property held in the estate.

Timescale

Grant only applications can usually be completed within six weeks of the date of instruction. The full administration of an estate can take between 6 and 18 months depending on the complexity of the estate.