Administration of Estates
Choosing the right Solicitor 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?
We charge at hourly rates ranging from £140.00 to £230.00 per hour plus VAT.
In addition to the hourly rates, and depending on the complexity of the estate, we charge a small percentage, based on the value of the estate. The percentages that we charge are as follows:
- Personal assets – 1.0% plus VAT
- Land or property transferred – 0.5% 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 £1,500 to £3,000 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, 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.
Our fee assumes that:
a. This is a standard transaction and that no unforeseen matters arise.
b. The transaction is concluded in a timely manner and no unforeseen complication arise
c. All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
d. No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
Potential Additional Costs
- If there is no will or the estate consists of any 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.
- Dealing with the sale or transfer of any property in the estate is not included.
What Are Disbursements?
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.
Disbursements that we will pay on your behalf but with the expectation that it will be reimbursed:
- Probate application fee – £155.00.
- Office copies of grant, per copy – £1.50.
- Other disbursements – through agreement.
How Long Will This Take?
Typically, obtaining the grant of probate can take 6 weeks to 12 weeks. It may take longer depending on the individual circumstances of the matter.
Collecting assets then follows, which can take further 4 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.
- Let you have a report for you to approve setting out what we have done.
- Distribute all the assets in the estate.