Applying for the grant, collecting and distributing the assets
We anticipate this will take between 10 and 30 hours work at hourly rates between £110 and £215 per hour plus VAT depending on the level of experience and qualification of the fee earner. Total cost estimated at £2,000 – £6,000 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 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.
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 5 bank or building society accounts
- There are no other intangible assets
- There are 1-5 beneficiaries
- There are no disputes between beneficiaries on division of assets. If disputes arise this is likely to leave to an increase in costs
- There is no inheritance tax payable and the executors do not need to submit a full amount to HMRC
- There are no claims made against the estate
- There are no foreign assets
- There are no beneficiaries to trace
Additional disbursements include:
- Probate application fee – £155
- Swearing of the Oath (per executor) – £5-£7
- Bankruptcy-only Land Charges Department searches (per beneficiary) – £2
- Post in The London Gazette – Protects against unexpected claims from unknown creditors – £82
- Post in Local Newspaper – This also helps to protect against unexpected claims – £130
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.
Potential additional costs
- If there is no Will or the estate consists of any shareholdings (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 50p (1 per asset usually).
- Missing asset search.
- Dealing with the sale or transfer of any property in the estate is not included.
- Dealing with deceased’s lifetime tax position.
- Requirements for registration and tax returns for complex estates.
How long will this take?
- On average. Estates that fall within this range are dealt with within 6-12 months. Typically, obtaining the Grant of Probate takes 6-8 weeks. Collecting assets then follows, which can take between 4-12 weeks. Once this has been done, we can distribute the assets, which normally takes up to 12 months.
Who will carry out the work?
All fee earners in the department are fully qualified solicitors and their charging are £215 per hour plus VAT.