The chargeable fees will be computed on the basis of time spent on the delivery of the relevant services instructed, multiplied by the applicable charge-out rate (between £225 and £375 per hour), plus VAT (at the rate of 20%) and disbursements (i.e., additional costs that have to be paid to other organisations, to which VAT at the rate of 20% may also be added).  Examples of disbursements could include:

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• Probate application fees: £300 (for estates valued over £5,000);

• Making a second application (if probate has already been granted): £21;

• Obtaining additional copies of the grant: £1.50 each;

• Placing a notice in The London Gazette: £110.64 (£92.20 + VAT);

• Buying a voucher copy of the notice in The London Gazette: £9.80;

• Postal forwarding or PO Box service with The London Gazette: £100.32 (£83.60 + VAT);

• Placing a notice in a local newspaper: £288 (£240 + VAT).

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We anticipate that the work involved in applying for the Grant of Probate alone (i.e., preparing the Grant of Representation, applying to the Probate Registry and receiving the Grant) will take between 5 and 10 hours.  The envisaged time-cost for this element of service would, therefore, be estimated at between £1,125 and £2,250 plus VAT (i.e., between £1,350 and £2,700 in total) and disbursements.

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We anticipate that the work involved in undertaking the preliminary stages of the estate administration (i.e., reviewing and collating the information provided by you, placing the statutory notices, obtaining valuations and calculating the gross and net values of the estate) will take between 5 and 10 hours.  The envisaged time-cost for this element of service would, therefore, be estimated at between £1,125 and £2,250 plus VAT (i.e., between £1,350 and £2,700 in total) and disbursements.

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We anticipate that the work involved in undertaking the remaining stages of the estate administration (i.e., contacting the banks and other relevant organisation, collecting and distributing assets, settling outstanding liabilities and preparing the estate accounts) will take between 10 and 20 hours.  The envisaged time-cost for this element of service would, therefore, be estimated at between £2,250 and £4,500 plus VAT (i.e., between £2,700 and £5,400 in total) and disbursements.

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The above cost estimates are for straightforward estates where:

 

• there is a valid Will,

• there is no more than one property,

• there are no more than two bank or building society accounts,

• there are no intangible assets,

• there are up to two beneficiaries,

• the beneficiaries agree on the division of assets,

• Inheritance Tax does not have to be paid and a full account is not required to 
  be submitted to HMRC, and

• no claims are made against the estate.

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The exact cost will depend on the scope of the work to be undertaken, further to your instructions, and will also depend on your specific circumstances.  The list below gives an indication of scenarios where additional work might need to be carried out, at an additional cost, and we can give you a more accurate quote once we have more information about your specific situation:

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• there is no Will,

• there is a Will that was altered after signature,

• the Executors have died or refuse to act,

• the estate consists of shareholdings or other investments (e.g., bonds, etc.), 

• additional copies of the Grant are required,

• there is a need to deal with the sale or transfer of any property in the estate,

• Inheritance Tax is payable and, as such, additional work is required, including the preparation of a full Inheritance Tax Account, submission of the Inheritance Tax Account to HMRC and dealing with HMRC,

• there are missing beneficiaries,

• the destination of the estate is to be varied, and/or

• other post-death tax planning is to be undertaken.

 

To provide you with an indication of our pricing, the following are a couple of illustrative examples, but please remember that every estate is different so they should only be regarded as a guide:

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