Our Costs for Applying for the Grant, Collecting and Distributing the Assets
We anticipate this will take between 4 and 15 hours work at £201 per hour. We would estimate our average costs range from £804 to £3015 plus VAT plus any disbursements such as probate court fees (see below).
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. However, if there are multiple beneficiaries, a property and multiple bank accounts then costs will be at the higher end.
We would point out that each case is different and must be assessed individually upon its own merits, facts and circumstances. It may that the average costs could be higher or lower as a result. Consequently the costs guidance herein is indicative and a specific costs evaluation will be carried out at the outset and during the progression of your case, full details of which will be relayed to you.
We will handle the full process for you. This quote is for estates where:-
- There is a valid Will.
- There is no more than one property.
- There are no more than 2 bank or building society accounts.
- There are no other intangible assets.
- There are 1-4 beneficiaries.
- There are no disputes between beneficiaries (or any other person) regarding 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.
Disbursements are costs related to your matter that are payable to third parties, such as Court fees. We handle the payment of disbursements on your behalf to ensure a smoother process.
In addition to our legal costs, the following disbursements are /may be payable:-
- Probate application fee – currently £155.
- Official copies of the Grant of Representation – currently 50p per copy.
- Swearing of the oath £5 (no VAT) plus £2 (no VAT) for each document accompanying the oath ( i.e. a Will and any codicils to it (per executor)
- Bankruptcy-only Land Charges Department searches
- Advertisement fee for posting in The London Gazette (protects against unexpected claims from unknown creditors)
- Advertisement fee for posting in local newspaper (protects against unexpected claims from unexpected claims
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.
Dealing with the sale or transfer of any property in the estate is not included.
How long will this take
On average, estates that are straightforward and without complication are dealt with within 3-12 months. Typically, obtaining the Grant of Representation takes 8-16 weeks. Collecting assets then follows, which can take between 8 – 12 weeks. Once this has been done, we can distribute the assets, which normally takes 2– 4 weeks. The time estimate could vary and often we are reliant about third party responses which we have no control over. If there are any unavoidable delays we will keep you updated.