Applying for the grant, collecting and distributing the assets
We anticipate the average cost of this work spent on the time based will take between 15 and 20 hours work at £240.00 per hour plus VAT at 20% (£48.00) making a total hourly rate of £288.00.
Total costs estimated at between
£3,600.00 (based on 15 hours) plus VAT at 20% (£720.00) making a total of £4,320.00 and;
£4,800.00 (based on 20 hours) plus VAT at 20% (£960.00) making a total of £5,760.00
The exact cost will depend on the individual circumstances of the matter. For example, if there is one beneficiary, no property and two bank accounts, costs will be at the lower end of the range. If there are multiple beneficiaries, one property and multiple bank accounts, costs will be at the higher end.
We will handle the full process for you. This estimate is for estates where:
- There is a valid will
- There is no more than one property
- There are no more than 6 bank or building society accounts
- There are no more than 4 individual company share holdings
- There are no other intangible assets
- There are no more than 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 are no claims made against the estate
Disbursements in addition to our legal fees are:
- Probate application fee of £273.00
- Bankruptcy-only Land Charges Department searches £2.00 per beneficiary (plus VAT @ 20% which is £0.40) making a total of £2.40 per search
- £200.00 (estimated) Post in The London Gazette – protects against unexpected claims from unknown creditors.
- £300.00 (estimated) Post in a Local Newspaper – this also helps to protect against unexpected claims.
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 (all prices as estimated and will vary depending on the nature of the estate).
Potential additional costs
- If there is no will or the estate consists of more than 4 individual company share holdings (stocks and bonds) there is likely to be additional costs that could range 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 £1.50 plus VAT at 20% (0.30p) which makes a total of £1.80 per copy, (one per asset usually required).
- Dealing with the sale or transfer of any real property/land in the estate is not included.
As part of our fee we will:
- Provide you with a dedicated and experienced probate practitioner to work on your matter
- Take your instructions and provide tailored advice
- Identify the legally appointed executors/administrators and beneficiaries
- Accurately identify the type of Probate application you will require
- Value the estate
- Prepare all inheritance tax documentation
- Assist you in settling the inheritance tax due
- Obtain the relevant documents required to make the application for a Grant of Probate
- Complete the Probate Application by way of a Statement of Truth
- Make the application to the Probate Registry on your behalf and monitor progress of the same
- Obtain the Grant of Probate
- Provide any further advice as required
- Collect and distribute all assets in the estate as appropriate
- Report to you and conclude all matters
How long will this take?
On average, estates that fall within this range are dealt with within 8-12 months. Typically, obtaining the grant of probate takes 12-16 weeks. Collecting assets then follows, which can take between 8-12 weeks. Once this has been done, we can distribute the assets, which normally takes 6-8 weeks.