As each Probate matter will differ from person to person, when you contact us the quote you receive will be specifically tailored to those circumstances.
The quotation provided will be based on the estimated amount of time it will take to obtain probate and deal with the estate and will be charged at an hourly rate of £300.00 plus VAT per hour.
To give you an idea, our fees tend to fall into the following ranges:
Our
Typical Fee
VAT Thereon
Fee Total
Time Scale
Step One-Four
£2,500.00
£500.00
£3,000.00
1-6 months
Step Five
£1,500.00
£300.00
£1,800.00
1-6 months
The above fees do not include any additional legal advice that you may need in respect of how to best deal with the estate in circumstances where tax mitigation may be possible.
The amounts above do not include disbursements – sums that we will have to pay to third parties. Furthermore, if the estate is complex in nature the fee may increase accordingly – though you will be advised of this at all times.
Factors that can result in an increase in the fees will include whether the deceased had any properties, the number of other assets to be called in or collected, the geographic location and availability of the beneficiaries and whether Inheritance Tax is payable.
Where this firm (or a director of this firm) have been named as executor, we will also include a fee based upon the value of the estate. In such circumstances, the firm will charge between 1%-1.5% of the gross value of the estate (less the value of any residence) and between 0.5%-0.75% of the value of the deceased’s interest in any residence.
Where we deal with the sale of any property, we will charge a separate fee for that matter and a separate quotation will be provided at the time.
The fees above do not include disbursements that we will have to pay to third parties. The following are an example of the usual disbursements you can expect:
- HM Land Registry Document Fee – £3.00 + VAT each
- Electronic transmission of money – £30 plus VAT
- Probate application fee – £273.00
INHERTIANCE TAX:
Without a complete understanding of the deceased’s estate, we cannot provide an estimate of any Inheritance Tax that may be payable. We would advise you to look on the HM Revenue & Customs website which includes a calculator that can assist with the calculation and can be found at: https://www.gov.uk/guidance/hmrc-tools-and-calculators#inheritance-tax-and-bereavement