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 £220 per hour plus VAT. Total costs (including VAT) estimated at –between £3,960 (based on 15 hours) and £5,280 (based on 20 hours).
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 included in this fee:
- Probate application fee of £155
(Please note: The Government have planned an increase in Probate fees. The new fees will be published as and when the information becomes available.)
- Bankruptcy-only Land Charges Department searches (£2.40 per beneficiary incl. VAT)
- £95.00 Post in The London Gazette – Protects against unexpected claims from unknown creditors – Estimated.
- £220.00 Post in a Local Newspaper – This also helps to protect against unexpected claims – Estimated.
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.
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 £0.50 (1 per asset usually).
- Dealing with the sale or transfer of any property in the estate is not included.
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 10-14 weeks. Collecting assets then follows, which can take between 8-10 weeks. Once this has been done, we can distribute the assets, which normally takes 4-6 weeks.