Probate - Range of Costs

The provision of this outline is for guidance purposes and our ability to act for you will be subject to our requirements as to terms and conditions, identification and any related requirements being satisfied.

In order to give you a better indication of costs for administering the estate, please complete a Probate Questionnaire and contact us to arrange a meeting.

Our fees will be charged on the basis of the time spent on the matter only.There will be no additional charge based on a percentage value of the estate.The current applicable hourly rates for our dedicated and experienced team are from:

Fiona Leeson £300 plus VAT

Andrew Neal £300 plus VAT

Alan Cowgill £310 plus VAT

Fiona Fox £280 plus VAT

Amanda Hayman £280 plus VAT

Selena Coleridge £230 plus VAT

Emma Dean £240 plus VAT

The exact cost will depend on the individual circumstances of the matter and how much or little you require by way of our involvement.

Case Study

  • Second death of married couple.
  • Family home worth £900,000.
  • Other assets (including investments and savings) of £600,000.
  • Will leaves various cash legacies to charity and individuals with residue to 3 children equally.
  • Lifetime gifts in last 7 years of £200,000.
  • There are no disputes between beneficiaries nor any claims made against the estate.

What we will do:

STEP 1 – applying for the Grant of Representation

  • Ascertain the size and nature of the estate.
  • Prepare an Estate Summary, Inheritance Tax (IHT) calculation and Estate Projection.
  • Complete the IHT400 and supplementary pages.
  • Draft the Oath.
  • Advise on the funding of IHT on the application for Probate.
  • Conduct all correspondence with HMRC relevant to completing the IHT 400.
  • Submit the application for Probate.

We anticipate that this will take between 10 and 20 hours work at £300 per hour.Total costs estimated at £3,000 to £6,000 plus VAT.

Disbursements included in this matter payable to third parties in respect of Step 1:

  • Probate Court Fee of £155 plus 50p for every additional sealed Court copy of the Grant.
  • £7 swear fee per Executor.
  • Bankruptcy only Land Charges Department Searches (£2 per beneficiary).
  • Statutory Notices in the London Gazette and local newspaper to protect Executors against unexpected claims from unknown creditors (£270 Estimated).
  • Anti-Money Laundering online searches (£5 plus VAT per person).

How long will this take?

On average, estates that fall within this range are dealt with within 3 to 6 months.Typically, obtaining the Grant of Representation from submission of the IHT400 and IHT due to HMRC takes 4 to 6 weeks assuming the Probate Registry does not raise any issues with the application.

STEP 2 – obtaining probate and administering the estate in accordance with the Will

  • Call in the assets where required.
  • Advise on settling the deceased’s tax affairs to the date of death and accounting to HMRC during the period of administration (to include ascertaining any Income Tax and Capital Gains Tax owed).
  • Take any corrective action required by HMRC during the estate administration process.
  • Claim any relevant tax reliefs or exemptions applicable to the estate.
  • Ensure payment of any outstanding tax from the estate.
  • Arrange payment of the legacies given in the Will.
  • Prepare and reconcile Administration Accounts.
  • Make distributions to the beneficiaries.
  • Deal with miscellaneous matters.
  • Obtain final clearance from HMRC on both the IHT front and for the administration period.
  • Account to the beneficiaries on completion of the administration of the estate (to include tax deduction certificates (R185 Estate Income).

We anticipate this will take between 15 to 30 hours work at £300 per hour.Total costs estimated at £4,500 to £9,000 plus VAT.

Potential additional costs and disbursements in respect of Step 2:

  • Registrar/stockbrokers administration fee, indemnity charges and commission for dealing with the sale or transfer of investments.
  • Dealing with the sale or transfer of any property in the estate (ie conveyancing costs and Land Registry fees).

How long will this take?

On average, estates that fall within this range are dealt with within 12 – 24 months, but this may be longer depending on dealings with HMRC and the property market when selling.