Probate Services | Range of costs

Probate Services – Range of costs

Our Services

Grant Only – Return of Estate Information Form (IHT205)

This is where we assist you in part of the Estate Administration process. You provide us with all of the financial information in the Estate and we complete the legal process of applying for the Grant of Probate/Letters of Administration. This involves completing an Inheritance Tax form for HMRC – the Return of Estate Information Form (IHT205) preparing a Legal Statement for the Executors/Administrators to sign and then lodging the application with the Probate Registry. We then provide you with the Grant of Probate/Letters of Administration for you to deal with gathering the assets and distributing the Estate yourself:

The scope of this work covers:

Attendance to take instructions and obtain information about the Estate and advise of Probate procedure
Confirming the Executors or Administrators and any available options as to which Executors/Administrators act
Completing IHT205
Drafting Legal Statement
Drafting Power Reserved Notice to clear off additional Executors if required
Attendance to sign and approve paperwork the
Arranging for sign the ing of papers
Submitting the application to the Probate Court
Taking receipt of Grant of Probate and forwarding it to you

We usually charge you a fixed fee of to £925.00 + VAT and disbursements for this service. If things are more complicated then we may need to charge more but we can let you know this from the outset.

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.

The disbursements you can expect to incur are as follows:

£300.00 probate fee.
£1.50p for each additional copy of the Grant of Probate (we recommend that you get one copy for each institution).

On average our Grant Only – Return of Estate Information Form (IHT205) Service takes 1 – 3 months. Once submitted it will take approximately 2 weeks for the Probate Court to issue the Grant of Probate/Letters of Administration in addition this. Please note that at present the Probate Court is experiencing long delays and the time to issue a Grant of Probate/Letters of Administration could be on average from 6 to 12 weeks.

Where a Grant of Probate/Letter of Administration is required urgently (e.g. for the sale of a property where the exchange has taken place) and the Estate is simple we can offer expedited service.

Grant Only – Full Inheritance Tax Account required (IHT400)

This is where we assist you in part of the Estate Administration process. You provide us with all of the financial information in the Estate and we complete the legal process of applying for the Grant of Probate/Letters of Administration. This involves completing an Inheritance Tax form for HMRC known as an IHT400 which has several Schedules to it and we also prepare a Legal Statement for the Executors/Administrators to sign. We lodge the IHT400 with HMRC and go on to lodge the application with the Probate Registry. We then provide you with the Grant of Probate/Letters of Administration for you to deal with gathering the assets and distributing the Estate yourself:

The IHT400 is usually required where the person who has died had their house in a Trust or had made significant gifts in their lifetime or the value of their Estate is such that Inheritance Tax is payable or that additional reliefs and exemptions (for example the Residence Nil Rate Band) are required to be claimed

The scope of this work covers:

Attendance to take instructions and obtain information about the Estate and advise of Probate procedure
Confirming the Executors or Administrators and any available options as to which Executors/Administrators act
Completing IHT400 and Schedules
Drafting Legal Statement
Drafting Power Reserved Notice to clear off additional Executors if required
Attendance to sign and approve the paperwork
Arranging for the signing of papers
Submitting the application to the Probate Court
Taking receipt of Grant of Probate and forwarding it to you.

This is a more complicated process than the Grant Only Service involving the Return of Estate Information Form (IHT205) as there are a higher number of forms to complete and often taxation aspects to cover so we will provide you with a quote specific to the circumstances of the Estate. You could expect charges to start from £2,000 plus VAT and disbursements for this service.

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.

The disbursements you expect to incur are as follows:

£300.00 probate fee.
£1.50 for each additional copy of the Grant of Probate (we recommend that you get one copy for each institution).

On average our Grant Only – Full Inheritance Tax Account required (IHT400) takes 3 – 6 months. In addition to this, it can take many weeks for HMRC to issue a receipt for the IHT400 which is required before the Probate can be applied for. Once submitted it will take approximately 2 weeks for the Probate Court to issue the Grant of Probate/Letters of Administration. Please note that at present the Probate Court is experiencing long delays and the time to issue a Grant of Probate/Letters of Administration could be on average from 6 to 12 weeks.

Full Estate Services

Under our Full Estate Service, we would usually undertake all of the work on behalf of the Estate from ‘start to finish.

We would usually undertake the following as part of this:

Attendance and correspondence with family to obtain information for the completion of probate papers
Liaising with family members and beneficiaries as required
Sorting through any paperwork and confirming assets and liabilities of the estate
Contacting each institution for financial values
Preparing application for Grant of Probate
Completing IHT 205 or IHT400
Arranging for the signing of IHT 205 and signing of the Legal Statement
Submitting the application to the Probate Court
Arranging for payment of Inheritance Tax on behalf of the Estate. The tax itself is paid from monies in the Estate
Subsequent correspondence with HMRC
Corresponding with institutions as necessary to close accounts and release funds into our Executors’ Accounts and settle any debts
Arranging clearance and sale/transfer of property if required
Arranging payment of legacies
Preparation of Estate and Distribution Accounts
Distributing the Estate

The scope of the work depends on the complexity and value of the Estate. We have tried to split our Full Estate Service into 3 different categories: a Simple Estate, a Mid-Range Estate, and a High Value or High Complexity Estate.

There will be some cross-over between these three categories and we can provide a more precise estimate regarding what category the Estate falls into after an initial meeting. Sometimes the complexity of an Estate evolves throughout the probate process if new assets or issues are uncovered.

On our Full Estate Services we charge on a fixed fee basis which we will advise of once we have understood the scope of the work involved. Our fees given for a Full Estate Service are demonstrative of the range of fees you could expect.

For information purposes, the hourly rates of our private client fee earners who may deal with the Estate are as follows:

Helen Milburn – £340.00
Rebecca Jordan – £245.00
Emily O’Neill – £245.00
Trainee Solicitor – £170.00
Paralegal – £140.00

Where we are responsible for gathering the money into our client account (this is because we treat this as an Executors Account for the Estate) and we prepare Estate Accounts and distribute the Estate we also charge a ‘value element’. This is a markup percentage usually charged on the value of the ‘liquid’ assets (that is anything other than property) in the Estate. This is usually charged at 1% plus VAT.

We also have a ‘value element’ mark-up percentage in relation to the property in the Estate of 0.5% plus VAT but this is only generally chargeable where we are responsible for ‘looking after the property during the administration period.

Simple Estate

We anticipate administering a Simple Estate this will take approximately 12 – 15 hours of work. Total costs estimated could range from £3,500 to £4,500 plus VAT and disbursements.

There will be a ‘value element’ charge in addition to these fees as detailed above.

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.

The exact cost will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property, costs will be at the lower end of the range. If there are multiple beneficiaries, a property, and multiple bank accounts, costs will be at the higher end.

We will handle the full process for you. This quote for a ‘Simple Estate’ is generally for estates where:

There is a valid will or a simple intestacy
There is no more than one property
There is a less than 5 bank or building society accounts
There are less than 3 UK shareholdings
There are no other intangible assets
There are a no more than 4 beneficiaries
There are no disputes between beneficiaries on the division of assets. If disputes arise this is likely to lead to a significant increase in costs
There is no inheritance tax payable and the executors do not need to submit a full account to HMRC
There are no claims made against the estate
All information on assets is readily available

Disbursements you would expect to incur are:

£300 probate court fee
£1.50 for each additional copy of the Grant of Probate (we recommend that you get one copy for each institution).
Bankruptcy Searches if required – £2.00 per beneficiary
Approximately £80.00 to post a statutory advert in The London Gazette – helps protect against unexpected claims from unknown creditors.
Approximately £200.00 to post a statutory advert in a Local Newspaper – this also helps to protect against unexpected claims.

On average, estates that fall within this range are dealt with within 6 – 9 months. Typically, obtaining the grant of probate takes 3 – 6 months (but subject to current timescales at the Probate Court) Collecting assets then follows, which can take between 2-3 months. Once this has been done, we can distribute the Estate which normally takes 1 month.

If there is a property in the Estate the administration cannot be completed until the property is sold or transferred which can prolong the time it takes to administer the Estate.

Additionally, conveyancing costs will apply if the property is sold – our conveyancing department will have these relevant fees for you.

Mid-Range Estate

We anticipate administering a Mid-Range Estate this will take approximately 20 – 40 hours of work. Total costs are estimated at £4,500 to £7,500 plus VAT and disbursements.

There will be a ‘value element’ charge in addition to these fees as detailed above.

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.

The exact cost will depend on the individual circumstances of the matter. For example, if there is a small number of assets and a small number of beneficiaries, costs will be at the lower end of the range. If there are multiple beneficiaries, one or more properties and multiple bank accounts, multiple shareholdings, investments, and other assets, or multiple debts, costs will be at the higher end.

An insolvent Estate is likely to come into this category.

We will handle the full process for you. This quote is generally for estates where:

There is a valid will or an intestacy where there are several beneficiaries
There are several legacies in the Will
There are charitable beneficiaries
There is one or more property
There are more than 5 banks or building society accounts
There are more than 3 UK shareholdings
There are investment assets
There are more than 4 beneficiaries
There are no disputes between beneficiaries on the division of assets. If disputes arise this is likely to lead to a significant increase in costs
There is no inheritance tax payable but exemptions and reliefs need to be claimed as the Estate is of a mid to high value
There are business assets but these are simple in structure e.g. a sole trader
Income tax from the administration period needs to be declared to HMRC
There is inheritance tax payable and an IHT400 is required to be completed
There are no claims made against the estate

Disbursements you would expect to incur are:

£300 probate court fee
£1.50 for each additional copy of the Grant of Probate (we recommend that you get one copy for each institution).
Bankruptcy Searches if required – £2.00 per beneficiary
Approximately £80.00 to post a statutory advert in The London Gazette – helps protect against unexpected claims from unknown creditors.
Approximately £200.00 to post a statutory advert in a Local Newspaper – this also helps to protect against unexpected claims.

On average, estates that fall within this range are dealt with within 12 – 18 months. Typically, obtaining the grant of probate takes 6 – 8 months Collecting assets then follows, which can take between 4 – 6 months. Once this has been done, we can prepare the Estate Accounts to finalize any income tax, and distribute the Estate which normally takes 1 – 3 months.

If there is a property in the Estate the administration cannot be completed until the property is sold or transferred which can prolong the time it takes to administer the Estate.

Additionally, conveyancing costs will apply if the property is sold – our conveyancing department will have these relevant fees for you.

High Value/High Complexity Estate

We anticipate administering a High Value/High Complexity Estate will take at least 40 hours of work. Total costs for this average at £8,000 plus VAT and disbursements but from experience in these could range up to £15,000 plus VAT and disbursements.

There will be a ‘value element’ charge in addition to these fees as detailed above.

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.

These fees generally apply where there are complex factors in the Estate because it is a high value (e.g. in excess of £1 million) and there are multiple assets usually including business or agricultural assets.

The exact cost will depend on the individual circumstances of the matter. For example, if the estate is taxable but there are a smaller number of assets easily identifiable and determinable and a small number of beneficiaries, costs will be at the lower end of the range. If there are multiple beneficiaries, multiple properties, multiple bank accounts, multiple shareholdings, multiple investments, and multiple other assets costs will be at the higher end.

Costs at the higher end will include estates with business or agricultural assets or Estates where a full investigation to locate assets is required. Costs at the higher end could include where there is intestacy where beneficiaries have to be traced and there is a high number located say 10 – 20 plus.

We will handle the full process for you. This quote is generally for estates where:

There is a valid will with trusts or multiple numbers of beneficiaries or legatees or an intestacy where there are a number of beneficiaries
There are multiple charitable beneficiaries
There is more than one property
There are multiple banks or building society accounts
There are multiple 3 shareholdings
There are multiple investment assets
The financial affairs of the deceased are unclear and investigatory work is required
There are disputes between beneficiaries on the division of assets. If disputes arise this is likely to lead to a significant increase in costs
There is an inheritance tax payable
There are complex business assets e.g. partnership or company assets
There are agricultural assets
There are non-UK-based shareholdings
There is no inheritance tax payable either because of debts or exemptions and reliefs need to be claimed as the Estate and there are multiple assets to be declared.
There is inheritance tax payable and an IHT400 is required to be completed.
Corrective accounts are required to be lodged at HMRC to amend Inheritance tax payable
Income tax from the administration period needs to be declared to HMRC
Tax clearance needs to be obtained
There are no claims made against the estate

Disbursements you would expect to incur are:

£300 probate court fee
£1.50 for each additional copy of the Grant of Probate (we recommend that you get one copy for each institution).
Bankruptcy Searches if required – £2.00 per beneficiary
Approximately £80.00 to post a statutory advert in The London Gazette – helps protect against unexpected claims from unknown creditors.
Approximately £200.00 to post a statutory advert in a Local Newspaper – this also helps to protect against unexpected claims.
If beneficiaries need to be traced there will be tracing agent fees: these could range typically from £100 to £600 plus £20 – £120 VAT (£120 – £720).

On average, estates that fall within this range are dealt with within 18 – 36 months. Typically, obtaining the grant of probate takes a letter of administration takes 12 months (tax payable at the 6-month mark will be estimated and paid on account to HMRC). Collecting assets then follows, which can take between 6 – 12 months. Once this has been done, we can prepare the Estate Accounts to finalize any income tax, and distribute the Estate which normally takes 3 – 6 months.

If there is a property in the Estate or business and agricultural assets the administration cannot be completed until the property or business and agricultural assets are sold or transferred which can prolong the time it takes to administer the Estate. In these circumstances, administration stretches to the higher end of the estimated timescale or beyond.

Additionally, conveyancing costs will apply if the property is sold – our conveyancing department will have these relevant fees. Our commercial and corporate departments may be involved with respect to the sale of commercial assets and these respective departments can provide these relevant fees.

Deeds of Variation

Where a beneficiary wants to vary the terms of the Will or Intestacy there is a legal mechanism to do this; this is called a Deed of Variation. The costs of this can be met by the Estate or the individual beneficiary depending on the circumstances. Costs for preparing a Deed of Variation are based on a time-spent basis. Estimated costs for a Deed of Variation tend to range from £800.00 plus VAT for a simple Deed of Variation (e.g. one beneficiary redirecting a share in the Estate which is non-taxable) up to £2,000 plus VAT and above, plus disbursements (10 hours) for a complex Deed of Variation (e.g. a variation of an Estate into a Trust or were the Executors or Administrators are varying a share in a deceased’s Estate or where the Deed of Variation changes the amount of Inheritance Tax payable on the Estate.

On average a Deed of Variation will take 1 – 3 months to complete.

Probate Services Fees