Probate Fees

It is difficult to provide accurate estimates of what the administration of an estate will cost, because the 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. You can instruct us to assist you with undertaking either part, or all, of the administration process.

Aspects that will effect the cost of administering an estate include: The extent of the assets within the estate, what they are and where they are situated The extent of the liabilities within the estate Whether there are properties within the estate and what is to be done with them The terms of the Will, who the beneficiaries are and whether there are any trusts Whether the estate will be liable to Inheritance Tax Whether there is the potential for any dispute between any of the beneficiaries, or whether any other party may be making a claim against the estate Any other matters which may complicate matters, including whether there are foreign assets to be dealt with Please get in contact with us to ascertain an accurate quote for your individual circumstances.

Aspects we can assist on include: Reporting to you on the terms of the Will or advising on the Rules of Intestacy, as appropriate Contacting asset and liability holders to ascertain details of the estate Preparing the Inheritance Tax return and submitting this to HMRC Preparing the application for the Grant of Probate and submitting it to the Probate Registry Taking out statutory notices to protect the Executors against potential claims Assisting with the collection and encashment or transfer of assets to the beneficiaries as appropriate Assisting with the settlement of liabilities of the estate Assisting with the settlement of Inheritance Tax Undertaking distributions to the beneficiaries Preparation of Estate Accounts Our Three Stage Approach

At WT Solicitors our extensive experience in administering estates has proven that splitting the probate process into three stages benefits our clients. The three staged approach provides utmost clarity surrounding our costs and makes the complex probate process easier to understand. Please see below for a break down of our costs by level and descriptions as to what each level includes.

Stage 1: Information gathering £1,250 - £1,500 PLUS VAT (£1,500 - £1,800 INC VAT) This involves contacting banks, building societies, share registrars and other organisations that the deceased’s assets comprise of to notify them of the death, ascertain the assets and liabilities that make up the estate, and the valuations of all assets on the date of death. The death certificate will need to be provided to facilitate this. Please note that we do not provide date of death valuations for property.

Stage 2: Application for probate £1,750 - £3,250 PLUS VAT (£2,100 - £3,900 INC VAT) This stage compromises drafting the application to the Probate Registry to obtain the Grant of Probate and authorising the Executors to administer the estate in accordance with the Will. There are instances where we will need to draft an application to HMRC. This is in both instances where inheritance tax is payable on the estate and where there is no inheritance tax payable, but we may be required to declare assets or apply for reliefs.

Stage 3: Administrating the Estate £3,000 - £4,000 PLUS VAT (£3,600 - £4,800 INC VAT) Upon receipt of the Grant of Probate, we will begin to administer the estate on your behalf. This will involve preparing and submitting your instructions to collect the assets within the estate. We will also advise you of the liabilities within the estate that need settling and liaise with HMRC in respect of any Inheritance Tax payment. We will also provide assistance to you when making interim and/or final distributions to the beneficiaries. If there are complexities that we come across when reviewing the case or the estate is comprised of a large number of assets, then we reserve the right to charge the hourly rate of (£120- £250 plus VAT). For example, where there are numerous beneficiaries and a large number of assets (10+) to distribute on an estate exceeding £2 million.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 10 bank or building society accounts There are no other intangible assets There are no disputes between beneficiaries on division of assets. If disputes arise this is likely to lead to an increase in costs The executors do not need to submit a full account to HMRC There are no claims made against the estate 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.

If any additional copies of the grant are required, they will cost £1.50 (1 per asset usually).

Dealing with the sale or transfer of any property in the estate is not included.

How long will this take?

On average, estates that fall within this range are dealt with within 3-6 months. Typically, obtaining the grant of probate takes 4-6 weeks (where no HMRC application is made). Collecting assets then follows, which can take between 2-3 months. Once this has been done, we can distribute the assets, which normally takes 1-2 weeks. Disbursements Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

Disbursements not included in the fees in this documents (VAT to be included where applicable): Disbursement Cost VAT Probate Court Application Fee £300 No VAT Land Registry Bankruptcy Search (per beneficiary) £2 No VAT Grant of Probate (per copy) £1.50 No VAT Post in The London Gazette (optional) £92.20 + VAT Post in Local Newspaper (optional) £80 approximately (This prices varies between providers) + VAT