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Our legal fees for probate services in administering an uncontested estate are based on the hourly rate of the conducting fee earner, together with any disbursements. Disbursements are expenses paid to third parties such as court fees, valuation fees, search fees and fees for statutory advertising.
Every case is different so the final cost of our probate services will depend on the amount of time it takes to complete the administration of the estate. This, in turn, is dependent upon a wide range of variable factors such as the number of assets and liabilities, the type of assets and liabilities and how many beneficiaries there are. The amount of work is not necessarily driven by the value of the estate. So, for instance, a high value estate comprising just one property, one bank account and one beneficiary may take significantly less time to administer (and therefore cost less) than another lower value estate consisting of a number of bank and building society accounts, numerous shareholdings, bonds, a number of debts and liabilities, several legatees as well as a number of residuary beneficiaries. There are also many factors that can add to the time involved in administering an estate and increase costs, such as missing beneficiaries, complex investments, problems with the plight and condition of the Will, the interrelation with foreign jurisdictions if there are assets abroad, winding up a business, dealing with agricultural assets and taxation issues.
The average cost of administering a relatively modest estate of average complexity comprising a house, up to ten other assets of different kinds and which does not necessitate a full Inheritance Tax Account and up to five beneficiaries is likely to be between £3,500 to £4,500 plus VAT and disbursements. We will always give you a bespoke estimate of the likely costs of our probate services at the outset. The conveyancing costs of dealing with the sale of any property will be extra and our property team can provide a separate quote for this work.
If you would like to limit our probate services to simply obtaining a Grant of Representation only based upon the information you supply to us about the value of all the Deceased’s assets and liabilities, then our fees can be fixed at £500 plus VAT and disbursements, providing we do not have to prepare a full Inheritance Tax Account. If it is necessary to prepare and submit a full Inheritance Tax Account then our fees can be fixed at £1,250 plus VAT and disbursements. Once we obtain the Grant from the Court we will pass it to you so that you can continue with the administration of the estate. Again if there is a sale of property involved, our Property Team can provide you with a quotation for the sale.
If you have any queries about legal fees for probate services then please contact us.
And if a dispute arises we have a dedicated team of lawyers who specialise in dealing with all aspects of contested estates and who will be happy to discuss their services and costs with you.