Simple Single Will from £150.00 plus vat £144.00
Simple Mirror Wills from £180.00 plus vat £180.00
Single Will with Inheritance Tax Advice £200.00 plus vat £240.00
Mirror Wills with Inheritance Tax advice £250.00 plus vat £300.00
Single Will with Discretionary Trust £350.00 plus vat £420.00
Mirror Wills with Discretionary Trust £400.00 plus vat £480.00
LASTING POWERS OF ATTORNEY
Single (Finance or Welfare) £250.00 plus vat £300.00
Pair (Finance and Welfare) £350.00 plus vat £420.00
Couple (Single each) £350.00 plus vat £420.00
Couple (All 4) £500.00 plus vat £600.00
Registration Fees per Power £82.00 (2=£164.00, 4=£328.00)
Costs to be agreed (but usually £750.00-£1000.00 plus vat and registration fee of £400.00)
This guide is designed to provide you with clear details of our costs for Probate /Administration of a deceased Estate.
We can help you through this difficult process by obtaining the Grant of Probate on your behalf. We will also undertake the collecting and distributing of assets.
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 any shareholdings, costs will be at the higher end.
We are always happy to have an initial meeting with you to assess exactly what is required and we will be able to provide a specific quote at that point when we have all the information about your particular case. We will do this without charge.
We will handle the full process for you.
How much does this service cost?
1. Estate type one
For an estate valued under the current inheritance tax nil rate band (currently £325,000).
We anticipate this will take on average between 6 and 12 hours work at £240 per
Total costs estimated at between £1,440 – £2,880 (+VAT).
This quote is for estates where:
- There is a valid will
- There is no more than one property
- There are no assets situated outside the UK.
- There are no other intangible assets
- There are no more than six residuary beneficiaries
- There are no disputes between beneficiaries on division of assets. If disputes arise this is likely to lead to an 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 or pending against the estate
- Disbursements in addition to this fee are as follows:
- Probate application fees. Please see the www.gov.uk website for further details.
- £7.00 – Swearing of the oath (per executor)
- Bankruptcy searches at £2.00 per beneficiary (if resident in the UK. For beneficiaries outside the UK the costs are significantly higher and depend on Country of Residence)
- Statutory Advert in The London Gazette and a Local Newspaper (to protect against unexpected claims from unknown creditors) Please see www.thegazette.co.uk for full details.
- 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.
How long will this take?
On average, estates that fall within this range will be dealt with within 6 months from the date of instruction.
2. Estate type two
For an estate valued over the current inheritance tax nil rate band (currently £325,000).
We anticipate this will take on average between 10 and 20 hours work at between £240 per hour.
Total costs estimated at between £2,400- £4,800 (+VAT).
This quote is for estates where:
(i) There is a valid will
(ii) There is no more than one property
(iii) There are no assets situated outside the UK.
(iv) There are no other intangible assets
(v) There are no more than six residuary beneficiaries
(vi) There are no disputes between beneficiaries on division of assets. If disputes arise this is likely to lead to an increase in costs
(vii) There is inheritance tax payable and the executors need to submit a full account to HMRC
(viii)There are no claims made or pending 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. We can give you a more accurate quote once we have more information.
- If there is more than one property, assets outside the UK, intangible assets, additional beneficiaries, disputes between beneficiaries or claims against the estate there will be additional costs. Again we can give you a more accurate quote for these aspects once we have all the information.
- Dealing with the sale or transfer of any property in the estate is not included.
- Dealing with any income tax due on the Estate (for the Administration Period) is not included.
- Dealing with any corrective accounts to HMRC (for example to adjust inheritance tax payable where an asset has sold for more or less than its original valuation) is not included.
- How long will this take?
- On average, estates that fall within this range take 6 months but may take longer as we need to obtain HMRC clearance to confirm that they are satisfied that all the tax affairs of the Estate are in order. This can mean delays in some cases but we will advise you accordingly.
As part of our fixed fees we will:
- Provide you with a dedicated and experienced probate solicitor to work on your matter
- Identify the legally appointed executors or administrators and beneficiaries
- Accurately identify the type of Probate application you will require
- Obtain the relevant documents required to make the application
- Complete the Probate Application and the relevant HMRC forms (as appropriate)
- Draft a legal oath or sworn statement for you to swear
- Make the application to the Probate Court on your behalf
- Obtain the grant of Probate and send to copy to you
- Arrange placement of statutory notices
- Undertake bankruptcy searches and identity checks for all beneficiaries
- Collect and distribute all assets in the estate
- Prepare final Estate Accounts
- If, having read this guide, you still have any queries about our fixed fee services for Probate then please do not hesitate to contact us and we will be delighted to discuss things further with you.
Asset Protection Trusts: £750.00 plus vat and registration fees