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Many firms these days will take a percentage of the estate which they are administering as payment. Some will even charge an hourly rate in addition to taking a percentage of the estate. For larger estates, this can mean that disproportionately high legal fees will be incurred.
We take a different approach, and only charge by the hour, for the work we actually do, which we believe is much fairer and gives real value to our clients at a difficult time.
Our fees for obtaining a Grant of Representation and thereafter collecting and distributing money, property and other assets belonging to a deceased person, where these assets are within the UK and the matter is not contested (simple probate matters), are as follows:
We charge on average between £2,500-£3,000 + VAT and disbursements for this work. VAT is currently 20%. Once VAT has been added on, this means the average fee is between £3,000 and £3,600 plus disbursements.
This estimate is just an average price based on recent instructions; the actual cost to you will depend on a number of factors which we will discuss with you if you decide to instruct us.
The charge is based on our average hourly charging rate of £295 plus VAT per hour, in most cases. Once VAT is added, our average hourly charge rate is £354.
There will be costs on top. These are fees and charges need to pay on your behalf as part of the process, such as Probate Registry fees, oath swearing fees, advertisements etc. These costs are known as disbursements and (where relevant), they are likely to be between £350 and £500 plus VAT (with VAT added on, between £420 and £600).
Our people involved in doing the work will include:
- Abbie Kingdon, Solicitor
- Rebecca Stapleton, Trainee Solicitor
- Kelly Crouch, Legal Secretary/Paralegal
Our costs are based on the assumption that the estate is relatively simple, all based in the UK and that there are few, if any, assets that would complicate the process or lengthen our time estimates.
We understand the stress and emotion surrounding a recent bereavement. The work we will carry out will involve:
- Ascertaining the legally appointed executors or administrators and beneficiaries.
- Ascertaining the value of the estate and the extent of any liabilities.
- Ascertaining and paying any inheritance tax due on including completion of the applicable inheritance tax account or return
- Applying for grant of probate or grant of letters of administration
- Placing statutory notices pursuant to section 27 of the Trustee Act 1925
- Collecting in the assets comprised in the estate
- Paying any legacies and/or transferring any assets specifically bequeathed to individuals in the will
- Preparing a set of estate accounts detailing the assets and liabilities of the estate for approval by the executors/administrators and residuary beneficiaries
- Distributing the estate in accordance with the will or intestacy rules
Our fees do not include any external costs and charges that we may incur as part of the administration (eg. tax, penalties, repayable benefits, fees and charges). You will also be responsible for these items on behalf of the estate.
Contact one of our experts today for a free no obligation discussion about how we can help.