Probate Costs

Probate matters are dealt with by Rachel Oakley a solicitor who has been qualified since 1991.† Rachel has worked in this firmís private client department for over 17 years and is an Affiliate of the Society of Trust and Estate Practitioners (STEP).

Estate Administration

This service involves dealing with someoneís affairs after death.† The costs will vary according to the level of service that you feel you need which will be discussed in an initial half hour free of charge consultation.† The work involved and the estimate of timings will be discussed from the outset and will be set out in our client care letter.

Applying for the grant, collecting and distributing the assets

Our charges are based on the time spent on the matter charged at an hourly rate of £240.00 plus VAT.† The exact costs will depend on the individual circumstances of the matter and the complexity of the estate.

In a typical straightforward case where there is for example one beneficiary, one property, and a few bank accounts, the costs will be at a lower rate than for instance an estate with multiple beneficiaries, a property, many bank accounts and share holdings or a foreign element.

In a simple scenario where there is a valid Will and no inheritance tax to pay, the costs would be in the range of £3,000.00 to £5,000.00 plus VAT.† This will increase where the estate is taxable and an Executor needs to submit a full account to the HMRC.† Further costs will also arise where there is no Will.

Where we are instructed on a grant only basis there will be a fixed fee of £1,500.00 plus VAT.

There will also be additional expenses which include:

1.   Probate application fee (£155.00) plus £0.50 per Court sealed copy.

2.   Swear fee of the Oath (£7.00 per Executor).

3.   Bankruptcy searches (£2.00 per beneficiary).

4.   Posts in London Gazette and local paper (£200 - £300) which protects Executors against unexpected claims
      from unknown creditors.

5.   Costs of selling or transferring shareholdings (Registrars fees variable).

The costs of dealing with the sale of any property in the estate will be a separate cost and will be quoted at a later stage.

Where we are appointed as Executors there will be an additional value charge based on the gross value of the estate which is a reflection of the importance of the matter and consequently the responsibility on the firm.

This charge will be 1% of the gross value of the estate (excluding any residence in which the deceased resided where the rate will be Ĺ%).† VAT will be added to the charges.

There will be no value charge for a jointly owned property where the property does not form part of the estate. †There will however be a value charge as set out above for jointly owned property where the property does form part of the estate e.g. where property is held by the deceased and another person as tenants in common.† In such cases, the value charge will be charged on the deceasedís share of the jointly owned property only.