Administration of Estates

Choosing the right company to act on your behalf should not come down to price alone and a higher hourly rate does not necessarily result in higher costs to you. Our experienced Private Client department handle your work effectively and efficiently to ensure less time is wasted and that you are not charged more than you should be.

We hold Lexcel accreditation which demonstrates we reach the high client care standards required by the Law Society in order to help you through this difficult time.

How Much Will It Cost?

Our ethos is to be transparent about cost.  We want to avoid hidden costs that you discover after you ask someone to do something.

We cannot give you an exact cost on this webpage as every case is different.  Much will depend on the facts of the case.  What we can do is give you a range of costs based on certain caveats as outlined below.  

We charge at hourly rates ranging from £150.00 to £250.00 per hour plus VAT.

In straight forward matters where:

  • There is a valid will.
  • There is no more than one property.
  • There are no more than 4 bank or building society accounts.
  • 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 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.
  • Assets are easily identifiable.

 

We would estimate total costs would be in the region of £1,000 to £4,000 plus VAT and disbursements.

The exact cost will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property involved and we are asked only to apply for grant of probate, costs will be at the lower end of the range.

If there are multiple beneficiaries, a property and multiple bank accounts or we are asked to not only apply for grant of probate but also to encash the assets and deal with distribution, costs will be at the higher end of the price range.

The cost of dealing with the sale or transfer of any property in the estate is not included.

Our fee assumes that:

  • This is a standard transaction and that no unforeseen matters arise.
  • The transaction is concluded in a timely manner and no unforeseen complications arise.
  • All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.
  • No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

Potential Additional Costs

There can be a number of factors that will result in additional costs, including:

  • There is no valid Will.
  • One or more executors have died or refuse to act.
  • The estate consists of any share holdings (stocks and bonds).
  • There are beneficiares who do not have capacity under the Mental Health Act or are minors.
  • There are missing beneficiaries.
  • There is a dispute between the beneficiaries on the division of assets.
  • There are trusts in the Will.
  • Claims are made against the estate.
  • An IHT400 needs to be completed.
  • Inheritance Tax is payable.
  • Business Property Relief needs to be applied for.
  • Agricultural Relief needs to be applied for.

What Are Disbursements?

Disbursements are costs related to your matter that are payable to third parties, such as court fees.  We will ordinarily handle the payment of the disbursements on your behalf to ensure a smoother process.

Disbursements that we will pay on your behalf but with the expectation that it will be reimbursed:

  • Probate application fee – £273.00.
  • Office copies of grant, per copy – £3.00.
  • Office Copy Entries of property - £3.60
  • Other disbursements – through agreement.

How Long Will This Take?

Typically, obtaining the grant of probate can take 12 weeks to 16 weeks.  It may take longer depending on the individual circumstances of the matter.

Collecting assets then follows, which can take further 8 to 12 weeks. If there is a property involved then it will take longer.

Once this has been done, we can distribute the assets.

What Do You Get?

As part of our fee we will:

  • Provide you with a dedicated and experienced team to work on your matter.
  • Identify the executors or administrators and beneficiaries.
  • Accurately identify the type of Probate application you will require.
  • Establish the value of assets and liabilities in the estate.
  • Complete the Probate Application and the relevant HMRC forms.
  • Prepare relevant paperwork for you.
  • Make the application to the Probate Registry on your behalf.
  • Obtain the grant of Probate.
  • Collect all assets in the estate (if applicable).
  • Let you have a report for you to approve setting out what we have done (if applicable).
  • Distribute all the assets in the estate (if applicable).

 

Who Will Handle Your Matter?

Anyone in our Private Client department could handle the Administration of an Estate.  To view the qualifications and experience of the team, please click here.

Ian Groome will be the Director with overall supervision of your matter.

Get in touch

Book an Appointment

Wisbech Office

01945 583194

reception@bowsers.co.uk

15 South Brink
Wisbech
Cambridgeshire
PE13 1JL

March Office

01354 652606

reception@bowsers.co.uk

10 Market Place
March
Cambridgeshire
PE15 9JQ

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