Wills, Lasting Powers of Attorney & Probate London & Southeast

Probate Fees 

Our charges

Each case will be assessed on it own set of circumstancesis; the following charges are intended to be an outline guide only and the exact figure will always depend on individual facts in the matter.
We will tailor an initial estimate to these specific facts and circumstances once information about the estate’s assets, its beneficiaries and relevant documents have been considered.
We only offer fixed fees in rare circumstances. The bulk of our work on an estate administration are charged on a percentage of the value of the estate.
In England & Wales, the Law Society sets a recommended cost of 1.5% of the value of the deceased’s real property, with an added 1.5% on the value of each further asset. This rate is considerably lower than banks, who will typically handle estates for a 4% return.

Inheritance Tax

It is important to note that before grant of probate an estate has to pay off any inheritance tax due. Inheritance tax will apply to estates over and above the nil rate band of £325,000.
The following is a non-exhaustive list of examples which make a probate matter straightforward:
 1. There is a valid Will; 2. There is no more than one property; 3. There are no legal issues with the title to the property; 4. There are a small number of bank or building society accounts; 5. There are a small number of shareholdings or one share portfolio with a single investment manager; 6. Where applicable, there are share certificates for all shareholdings; 7. There are no other intangible assets; 8. There are a small number of beneficiaries; 9. There are no disputes between beneficiaries;10. There are no claims made against the Estate; and11. There is no inheritance tax to pay and the executors do not need to submit a full account to HMRC.

Examples

Where the estate is subject to inheritance tax and we need to submit a full account to HMRC, this will take longer and accordingly our costs will be higher.
If the probate is otherwise broadly regarded as straightforward (i.e. points 1 to 10 above still apply), our fees are likely to be in the region of £5,000 – £10,000 + 20% VAT.
Where the estate is subject to inheritance tax and there are other factors meaning it is not a straightforward estate our fees are likely to be in excess of £10,000 + 20% VAT.
These examples only demonstrate how our costs will vary depending on the situation. We recognise the importance of transparency concerning costs and would provide a bespoke written estimate once we were clear about the extent of the work required.

Disbursements

Disbursements will also be payable. These are costs relating to your matter that are payable to third parties, such as the Probate Registry. We handle the payment of disbursements on your behalf to ensure a smoother process. The disbursements are likely to include the following:
Probate application fee of £273 (+ court sealed copies of the Grant of Representation @ £1.50 per copy). - £273 + copies
Bankruptcy Search Fee (per search) - £2
Post in the London Gazette and local newspaper (to protect the Estate against claims from unknown creditors) - Approximately £300 + 20% VAT
Surveyor’s fees (to provide a formal probate valuation of a property) - TBC but typically in excess of £500 + 20% VAT

How long will the administration of the Estate take?

From the point of sending the probate application to the Probate Registry, the Grant of Probate can take in excess of 16-20 weeks to be issued. Please note that this timeframe can vary considerably due to the Probate Registry’s delays in processing applications. Once probate is granted, straightforward estates can be concluded within a matter of a few months. However, for more complex estates, we tend to find that the average timeframe is approximately 6-9 months.

Key stages in the probate process

The stages will vary depending on the circumstances although most cases will generally involve:
1. Meeting with the executors or the family to take instructions and discuss the process;2. Obtaining details of assets and liabilities of the estate;3. Preparing an inheritance tax return and probate application;4. Collecting in the deceased’s assets and settling any liabilities; and5. Distributing the estate and finalising the tax position.

Our costs set on this page are based on our work broadly compromising the above steps and do not include any of the following:

● Contested estates;● Costs for drafting Deeds of Variation of Disclaimer or other Affidavits, if they are required;● Costs associated with drafting Powers of Attorney, where the personal representatives appoint us to obtain probate on their behalf;● Estate Planning advice;● Dealing with an intestacy or insolvent estate;● Arranging insurance;● Time spent tracing assets or beneficiaries;● Time spent in the more day-to-day duties of the personal representative, such as closing utility or council tax accounts or arranging house clearance;● Work in relation to pre-death tax returns and confirming the pre-death tax position;● The sale or transfer of any property in the estate; and● Administering and advising on any trust arising from the Will or otherwise.