Applying for the Grant of Probate, collecting and distributing the assets.
We anticipate this will take between 5 and 6 hours work for a straightforward case at up to £250 per hour, depending on which fee-earner has conduct of your matter. On that basis our total costs are estimated at £1250 - £1500 (+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 lead to a significant 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.
Likely disbursements to be added to our estimated fee:
- Probate application fee of £157.50 including 5 copies of the Grant.
- £7 Swearing of the oath (per executor).
- Bankruptcy-only Land Charges Department searches (£2 per beneficiary).
- £100 (but can vary) to post in The London Gazette – Protects against unexpected claims from unknown creditors.
- £100 (but can vary) to post in a Local Newspaper – This also helps to protect against unexpected claims.
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.
- If the estate consists of any share holdings (stocks and bonds) there are likely to be additional costs that could vary 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 £0.50 (1 per asset usually).
- If there are additional properties.
- If there are assets abroad.
- Dealing with the sale or transfer of any property – we will provide you with a separate costs estimate for each property to be sold or transferred.
- If disputes arise between beneficiaries.
- Inheritance tax is payable and a full account needs to be submitted to HMRC.
The above list is not intended to be exhaustive. In all cases, our estimated fee will take into account the individual circumstances of the matter as these appear at the time the estimate is given. Should the circumstances change or be different to originally thought as further information comes to light, you will be advised of this and you will be provided with a revised costs estimate.
In our experience, costs for Probate matters fall within the range of £1250 for an exceptionally simply matter to £50000 where the Estate is extremely complex. Your costs estimate will reflect your individual circumstances.
How long will this take?
On average, estates that fall within the simple range are dealt with within 6-8 months. Typically, obtaining the Grant of Probate takes 12-16 weeks. Collecting assets then follows, which can take between 12-16 weeks. Once this has been done, we can distribute the assets, which normally takes 4-8 weeks. Complex estates may take significantly longer than this. In extremely complex cases, this may be as long a several years.