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Probate

Simple non taxable probate applications

If you need help applying for and obtaining the Grant of Representation (Grant of Probate or a Grant of Letters of Administration) we are happy to assist at what is a difficult time by carrying out the work required for a fixed fee.

This type of application is usually only suitable where the deceased’s Estate is less than the Inheritance Tax nil rate band (currently £325,000) at the date of the deceased’s death, or where it may be valued at more than this but is not taxable for Inheritance Tax purposes because of transferable Nil Rate Band.

Our fixed fee Probate application costs will be £1,200 plus VAT @ 20% and disbursements or £1,500 plus VAT and disbursements if a claim to transfer the nil rate band is required. Disbursements are costs related to your matter that are payable to third parties, such as the probate court fee – £300 plus £1.50 per additional copy (VAT is not charged on this sum).  We handle the payment of the disbursements on your behalf to ensure a smoother process. The cost of such disbursements may change over time, if the agencies that charge them raise or reduce them.  Our fees will cover the cost of complying with Anti-Fraud Regulations.

On average obtaining the Grant of Probate takes at least three months.

These fees only relate to a non-taxable Estate. For our fees in respect of taxable Estates please see our Full Probate Application and Administration of Estates section below.

You will need to:

  • Provide a list of the assets and liabilities of the Estate with relevant account numbers and date of death values.
  • Provide the death certificate.
  • Where appropriate provide the original Will.
  • Deal with the post Grant Administration. This includes: the sale or transfer of the assets, payment of liabilities, preparation of Estate accounts and distribution to Beneficiaries.
  • Provide details of the first deceased’s estate if a claim to transfer Nil Rate Band is required.

We will:

  • Accurately identify the type of Probate application you will require.
  • Make the appropriate Probate application on your behalf.
  • Upon receipt of the Grant we will provide you with copies.
  • Not undertake verification of any of the information which you provide to us.
  • Not deal with any of the pre or post grant administration.
  • Notify or contact any of the beneficiaries.

 

Full probate applications and estate administration

This involves identifying the assets of the Estate, valuing the assets and liabilities, completing the Inheritance Tax return and appropriate Probate application form, applying for the Grant of Representation, collecting in assets, settling liabilities and administrative expenses from Estate assets and distributing the Estate to the Beneficiaries, whose identities will have been verified by us.

For the Administration of a simple Estate we would anticipate spending approximately 10 to 15 hours in dealing with matters at an hourly charging rate of £210 per hour plus VAT. Therefore, the overall costs (excluding disbursements, see below) are likely to be between £2,100 and around £3,150 plus 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 towards the lower end of the range. If there are multiple Beneficiaries, a property and multiple bank accounts then costs will be at the higher end of the range.

This quote is for Estates where:

  • There is a valid UK Will.
  • There is no more than one freehold or leasehold property.
  • There are no more than five bank or building society accounts.
  • There are no other intangible assets, such as stocks and shares, Unit and Investment Trusts.
  • There are between one and ten Beneficiaries.
  • There are no disputes between Beneficiaries or claims against the Estate.
  • The Estate is not subject to Inheritance Tax.
  • No Inheritance Tax Return is required to be prepared and sent to HM Revenue and Customs.

In addition to our fees and VAT the following disbursements may be incurred:

  • Probate court fee of £300 (additional copies are charged at £1.50 per copy). VAT is not chargeable.

Lodging statutory notices under section 27 Trustee Act 1925. This protects you in your role as Executor or Administrator from claims from unknown creditors. The cost will generally be in the region of £200 plus VAT @ 20%, but this can vary depending on the local newspaper.

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 and reclaim these from the Estate once the Grant of Probate is to hand. The cost of such disbursements may change over time, if the agencies that charge them raise or reduce them.

More complex estates

If the Estate is more complex than outlined above then additional costs may be incurred and a costs estimate can be provided in advanced based on the extent of the complexities with the same hourly charging rate of £210 plus VAT. This is likely to arise where:

  • There is no valid Will.
  • There is more than one freehold or leasehold property.
  • There are more than five bank or building society accounts.
  • The deceased held shares or Unit or Investments Trusts.
  • The deceased held an interest in a business.
  • There are substantial lifetime gifts or chargeable transfers which require tracing and investigation.
  • An Inheritance Tax Account (such as IHT400) is required to be sent to HM Revenue and Customs.
  • The Estate is liable to Inheritance Tax.
  • The deceased was a Beneficiary of a Trust.
  • There are disputes as to the validity of the Will, or between the Beneficiaries or claims made against the Estate.
  • We are asked to finalise the deceased’s Income Tax and/or Capital Gains Tax position to the date of death and/or during the period of Administration.

In addition to the above, if we are asked to assist you with the sale or transfer of the deceased’s property then a separate costs estimate can be provided.

Once you have provided us with full details of the assets and liabilities of the Estate we would anticipate obtaining the Grant of Probate within three months. However, the Administration could be delayed by the following factors:

  • If there is a property to sell then it may not be possible to complete the administration until a buyer has been found and the sale successfully completed. This may take longer than the rest of the Administration.
  • Also, Executors of an Estate have to be aware of and deal with any potential claims against it. For claims under The Inheritance (Provision for Family and Dependants) Act 1975, there is a period of six months from the date Probate is issued during which time it is unsafe to distribute funds. Executors have to acknowledge and take the appropriate steps to deal with any such claims during this period. It is our firm’s policy to advise all Executors not to distribute funds to Beneficiaries before six months have elapsed from the date of the Grant of Probate. The Executors may fully appreciate that the likelihood of any such claims is very remote but failure to take notice of this can leave them personally liable if such a situation arose. The Executors may consider, in appropriate circumstances, obtaining indemnities from the Beneficiaries to allow an early distribution.