We will assist you by obtaining the Grant of Probate and producing the inheritance tax return on your behalf. We will also undertake tasks associated with the collection and subsequent distribution of assets to all beneficiaries.
As part of our fee we will:
- provide you with a dedicated and experienced probate lawyer to work on your matter;
- identify the legally appointed executors or administrators and beneficiaries;
- accurately identify the type of Probate application you will require;
- complete the Probate Application and the relevant HMRC forms;
- draft a legal Statement of Truth for you to sign;
- make the application to the Probate Court on your behalf;
- obtain the Probate Grant and securely send copies to you.
For an Estate requiring a short form Inheritance Tax Return we anticipate this will take between 4 and 6 hours work at £185 per hour. Total costs estimated at £740 –1,100(+VAT).
For an Estate requiring a full Inheritance Tax Return we anticipate this will take between 4 and 6 hours work at £225 per hour. Total costs estimated at £900- 1,350 (+VAT).
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 is for Estates where:
- There is a valid will
- The executors named in the will are the executors who will be acting as such
- There is no more than one property
- There are no more than 4bank or building societies involved
- There are no other intangible assets
- There are upto 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 are no claims made against the Estate
Disbursements to be added to this fee:
- Probate application fee of £155 plus £1.50 for each office copy Grant of Probate that is required
- Bankruptcy-only Land Charges Department searches (£2.00 per beneficiary each time money is paid to them)
- Office Copy of property Title Register from HM Land Registry (£3 per property title)
- £200 to £250 to Post an advert in The London Gazette and in a Local Newspaper – Protects against unexpected claims from unknown creditors.
Disbursements are costs related to your matter that are payable to third parties, such as the Probate Registry. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Potential additional costs
- If there is no will or the Estate consists of any share holdings (stocks and bonds) there will 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, they will cost £1.50 (1 per asset is often required).
- Dealing with the sale or transfer of the title of any property in the Estate is not included.
How long will this take?
On average, the application for probate on Estates that require the short form Inheritance Tax Return are submitted to the Probate Registrywithin 2 to 3 months.The length of time the Probate Registry then takes to process the application varies depending upon the Registry’s workload and resources. On average, the application for probate on Estates that require the full Inheritance Tax Return are submitted to the Probate Registry within 3 to 4 months.
Collecting assets after issue of the Grant then follows, which can take between 6 – 12 weeks. Once this has been done, executors and beneficiaries can review Estate Accounts and once the Accounts are approved we can distribute the assets, which normally takes 2-4 weeks.
Please Note : Dealing with HM Revenue & Customs concerning other taxes which may be payable, such as income tax and capital gains tax, is not included within the fees above. Nor is advising beneficiaries.