Probate Pricing

Coping with the death of a person can bring a mixture of emotions and the legal side of dealing with a person’s death can often be overwhelming and confusing. Having compassionate, experienced legal advice can make this difficult situation much easier on you and your loved ones.

Whether the deceased person left a Will or whether there is substantial wealth and property involved, the sense of burden can increase. Where a Will is in existence the Executors will need to apply for the grant of probate which will give them the legal right to administer the estate. Where there is no Will in existence, the Will is invalid, or it does not specify Executor, an Administrator will need to be appointed.

Why Us

We have an experienced team who can assist you with every aspect of the probate process, reducing the administrative burden and advising sensitively on key decisions which need to be made when managing an estate. We are aware that administering an estate comes at a time of grief and high emotion, and that most people do not know the processes and legal requirements involved.

You will have the confidence that you are our priority, with our aim being that any member of the team is available to speak with you when you need some clarity and certainty at any stage in the process. We feel this provides reassurance and gives you an outlet for any concerns that you may have. Fees are generally paid out of the estate, so there may not be a need for you to fund the administration.

We are proud to hold Lexcel and WIQS Accreditations, issued by the Law Society. This involves the firm undergoing a rigorous audit process which ensures we maintain high levels of client care.

Our Fees

We offer two pricing options for you to choose from.  Option 1 is an hourly rate; whereby you will be charged for each hour of work undertaken. Option 2 is a fixed fee; this will be calculated by reference to the total gross value of the estate. 

VAT is charged at 20%.

Option 1

There are a range of hourly rates for the legal work depending on the level and experience of our probate lawyers, ranging from £200-£335 (£240 - £402 including VAT) an hour. This would depend on the level of complexity of the work involved. 

Once the lawyer concerned has been provided with a copy of the will and disclosure of the estate assets, they will be able to provide you with an accurate time estimate for the work involved. 

A ‘typical’ estate can usually be finalised within 35-45 hours.  Please see the “Additional Costs” section below to see what factors stipulate whether the estate will be considered ‘typical’ or more complex.

Option 2

The fixed fee will be calculated as a percentage, 2% of the underlying value of the gross estate and is subject to VAT. For most estates, this will be 2% however the actual percentage will depend on the complexity of the matter. 

Again, once the lawyer concerned has had sight of the will and disclosure of the assets, they will confirm the appropriate percentage that reflects the work involved.  

These fee structures are the same regardless of whether or not we have been appointed as executors, in other words, we do not charge any additional premium for being appointed as executors.

Additional Services

You may require additional services during the estate administration process which are not included in our fee quote. Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided. 

Additional services that will require the assistance of a third party at additional cost include:

• conveyancing of any property in the estate - see our conveyancing calculator for a fee estimate for a property sale
• tax advice
• valuations for property, savings, investments or other assets
• Deed of Variation - from £500 + VAT(£600) depending on the complexity

Disbursements

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees or court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. Please note that not all of the anticipated disbursements listed below are required in all circumstances and are subject to change.

We can help you through this difficult process by obtaining the Grant of Probate on your behalf. We will also undertake the collecting and distribution of assets and as part of the fixed fee we will:

• Provide you with a dedicated and experienced Probate Lawyer to work on your matter
• Identify the legally appointed executors, administrators and beneficiaries
• Accurately identify the type of Probate application you will require
• Obtain relevant documents required to make the application
• Complete the Probate Application and relevant HMRC Forms
• Draft a Legal Statement of Truth
• Make the application to the Probate Court on your behalf
• Obtain the Probate and securely send two copies to you
• Collect and distribute all assets in the estate.

Inheritance Tax

There are various factors that will affect any Inheritance Tax due on an estate, including the size of the estate and any measures that were put in place by the deceased to limit the estates tax liability.

We do not believe that it would be sensible to attempt to provide at this stage an estimate of any tax that may be payable. We would advise you to look on the HMRC Website to calculate Inheritance Tax which may be due, the calculators can be found at: https://www.gov.uk/guidance/hmrc-tools-and-calculators#inheritance-tax-and-bereavement

Additional Costs

There are several factors that will result in the estate not being classed as a ‘typical’ estate administration.  Depending on which fee option you decide upon, if any of the below factors apply, it is likely that the time estimate (option 1) or percentage (option 2) quoted will be higher than that of a typical estate administration, which would need to be explored and discussed with you. These may include, but are not limited to where:

• there is no valid Will
• the Will or estate is subject to a claim or dispute
• there are multi-jurisdictional assets
• the estate contains business assets
• there are trusts contained within the Will
• there are minor beneficiaries or beneficiaries living outside the UK
• there are unknown assets which require a greater level of investigation
• there are beneficiaries whose whereabouts are unknown and need tracing
• there are un-cooperative executors or beneficiaries
• a large number of investments spread across 10 or more financial institutions

Time Scales

Please read ‘Understanding The Probate Process’. This sets out the typical processes and possible timescales in the administration of an estate. We will keep you and any beneficiaries advised throughout.

On average, a typical estate will take between 8-16 months to be finalised. Within this time period, the Grant of Probate will be issued 6-9 months from date of death, followed by the collection of assets and distribution of the assets which can take a further 2-7 months.

Key Milestones

With every transaction there are key milestones, which may vary according to individual circumstances. They may be as follows:

• Obtain details of the estate
• Applying for Grant of Probate
• Obtaining Grant of Probate
• Settling Liabilities (i.e pay inheritance tax if due)
• Collecting funds ready for distribution
• Distributing funds
• Producing Estate accounts