PROBATE

Sensitive, reassurning advice and guidance at a difficult time

For Probate issues you can be sure of one thing from Wright & Lord – sensitive, reassuring advice and guidance at a difficult time.

We’ll look after everything from registering a death and making funeral arrangements, through to investment of trust funds and long term trusteeship. Even the simplest wills require careful treatment but we’ll also make sure it’s all taken care of quickly and effectively.

Our Fees

Our standard charges for the probate work is based on an hourly rate of £380 plus VAT. In some circumstances, we may charge a reduced hourly rate of £335 plus VAT plus a maximum of 1% of the gross value of the personalty of the estate and 0.50% of the gross value of the reality instead).

We anticipate that a basic estate will take between 6 and 20 hours work at £380 plus VAT per hour. Total costs estimated at £2,280 – £7,600 plus VAT (including VAT £2,736 – £9,120).

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 1-4 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 against the estate

Likely Disbursements

Disbursements are costs related to your matter that are payable to third parties, such as court fees.

  • Probate application fee of £300 plus £16 per additional copy
  • Bankruptcy-only Land Charges Department searches (£8.50 per beneficiary plus VAT)
  • Post in The London Gazette – Protects against unexpected claims from unknown creditors – this fee normally ranges from £300 – £450 depending on locality and includes VAT.

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 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.
  • Dealing with the sale or transfer of any property in the estate is not included.
  • Dealing with any claims made against the estate
  • Dealing with any disputes between beneficiaries

How long will this take?

On average, estates that fall within this range are dealt with within 6-8 months. Typically, obtaining the grant of probate takes 8 – 16 weeks (depending on the complexity of the estate). Collecting assets then follows, which can take between 6-8 weeks. Once this has been done, we can distribute the assets, which normally takes 2-4 weeks.

This guide is for more complex estates including, but not limited to, estate where:

  • There are multiple bank accounts or investments
  • There are shareholdings
  • There is inheritance tax to pay
  • There is a full account to be submitted to HMRC

Our standard charges for the probate work is based on an hourly rate of £380 plus VAT. In some circumstances, we may charge a reduced hourly rate of £335 plus VAT plus a maximum of 1% of the gross value of the personalty of the estate and 0.50% of the gross value of the reality instead..

We anticipate that a more complex estate will take a minimum of 25 hours work at £380 per hour. Total legal costs estimated at a minimum of £9,500 plus VAT (£11,400).

The exact cost will depend on the individual circumstances of the matter.

For example, if there is one beneficiary, bank accounts but no shares or property, costs will be around the minimum fee detailed above. If there are multiple beneficiaries, multiple bank accounts and shares and a full inheritance tax account to be prepared for HMRC, costs will be around £10,000.00 – £12,000.00 plus VAT (£12,000.00 – £14,400.00 including VAT). We can give you a more accurate quote once we have more information on the particular circumstances.

Likely Disbursements

Disbursements are costs related to your matter that are payable to third parties, such as court fees.

  • Inheritance Tax – the amount will differ with each estate.
  • Probate application fee of £300 plus £1.50 per additional copy
  • Bankruptcy-only Land Charges Department searches (£8.50 per beneficiary plus VAT)
  • Post in The London Gazette – Protects against unexpected claims from unknown creditors – this fee normally ranges from £300 – £450 depending on locality and includes VAT.

Potential additional costs

  • Dealing with the sale or transfer of any property in the estate is not included.
  • Dealing with any disputes with HMRC
  • Dealing with disputes between beneficiaries
  • Dealing with any claims made against the estate

How long will this take?

On average, estates that fall within this range are dealt with within 6-18 months. Typically, obtaining the grant of probate takes 16-30 weeks (depending on the complexity of the estate). Collecting assets then follows, which can take between 6-8 weeks (longer if shares are involved). Once this has been done, we can distribute the assets, which normally takes 2-4 weeks may be longer if multiple beneficiaries.

Stages of Typical Probate matter

  • Consideration of all the papers and documents relating to the assets in the estate.
  • Taking an inventory of the deceased’s assets including value of property, cash, savings, stocks, shares, pensions, possessions etc.
  • Notifying and corresponding with all relevant organisations to inform them of the death.
  • Obtaining valuations of all of the assets and liabilities of the estate.
  • Notifying beneficiaries of their entitlement.
  • Upon receipt of the Grant of Representation, collecting in all the assets in the estate.
  • Paying any Inheritance Tax due.
  • Discharging the liabilities at the date of death and the liabilities incurred during the administration of the estate.
  • Distributing the assets to the named beneficiaries (whether specific possessions, cash sums etc.)
  • Drawing up Estate Accounts showing how the estate has been distributed.
  • Securing the assets of the deceased including ensuring adequate buildings insurance is in place for any properties

We can help you through this difficult process by obtaining the Grant of Probate on your behalf.

How much does this service cost?

Fixed fee of £1750 plus VAT (with a IHT205 form) or £2,750 plus VAT (with a IHT400 form) for obtaining a grant of probate only.

This quote is for estates where:

  • There is a valid will
  • There is no inheritance tax payable and the executors do not need to submit a full account to HMRC
  • The executors wish to conduct the administration of the estate themselves but require assistance with the HMRC forms and applying for probate.

Likely Disbursements

Disbursements are costs related to your matter that are payable to third parties, such as court fees.

  • Probate application fee of £300 plus £16 per additional copy.
  • Bankruptcy-only Land Charges Department searches (£8.50 per beneficiary plus VAT).
  • Post in The London Gazette – Protects against unexpected claims from unknown creditors – this fee normally ranges from £300 – £450 depending on locality and includes VAT.

What tasks will we undertake?

  • Provide you with a dedicated and experienced probate adviser to work on your matter.
  • Draw up the relevant Inheritance Tax account based on the figures that you have provided.
  • Draft the Executor’s Legal Statement of Truth and arranging for documentation to be signed.
  • Make an application to the Probate Registry for the Grant of Representation.
  • Receive the Grant of Representation from the Probate Registry

What tasks are not included within the fixed fee?

The following tasks will still need to be undertaken by the executor/administrator:

  • Consideration of all the papers and documents relating to the assets in the estate.
  • Taking an inventory of the deceased’s assets including value of property, cash, savings, stocks, shares, pensions, possessions etc.
  • Notifying and corresponding with all relevant organisations to inform them of the death.
  • Obtaining valuations of all of the assets and liabilities of the estate.
  • Notifying beneficiaries of their entitlement.
  • Upon receipt of the Grant of Representation, collecting in all the assets in the estate.
  • Paying any Inheritance Tax due.
  • Discharging the liabilities at the date of death and the liabilities incurred during the administration of the estate.
  • Distributing the assets to the named beneficiaries (whether specific possessions, cash sums etc).
  • Drawing up Estate Accounts showing how the estate has been distributed.
  • Securing the assets of the deceased including ensuring adequate buildings insurance is in place for any properties.

On average, estates that fall within this fixed fee are dealt with within 2 months of receiving all the required information and figures from the executor.

For further information on probate or to arrange an initial meeting, please call us on 01524 402050 / 01539 565990 or alternatively complete the Enquiry form below.

Click here for more information on our fees.

Enquiry Form

    More than legal advisors, a family orientated firm who always goes the extra mile.

    Zoe was very friendly & knowledgeable and supported our Daughter, who is autistic through a difficult process with kindness & understanding.

    Best Conveyancing & Legal Services Firm in the UK!!!

    When selecting Wright & Lord to provide conveyancing c15 years ago, we were delighted to find that, despite being based 300 miles away from us, they provide a very efficient and personable service for very reasonable fees. Over the years they have handled many property transactions (residential & commercial), with the usual professionalism, to a point where we also used them for wills and other legal or financial services. We have never felt like a “numbered client” as the team are happy for us to know many of them by first names, without straying from their professional duty of care. We are now comfortably retired, having disposed of our property portfolio and would have no hesitation in recommending Wright & Lord as a legal services provider of exceptionally high standards.

    Communication is vital with legal matters so it was encouraging to be able to speak directly with the solicitor acting with us. Very personal service.

    I always see a friendly face or hear a friendly voice. Nothing is too much trouble.

    They totally looked after us in a professional, friendly manner. Thank You.

    We appreciate your help and guidance which we valued highly when you acted for us.

    Thank you so much for everything you have done for us in sorting my Mum’s estate out in a timely manor and for the way that you kept us informed and up-dated at all stages. The service that you provided was very professional and also very caring. You also made things easy to understand and you made us feel very comfortable, which was a great help to us and I am so grateful that you were our solicitor.

    I would also like to thank you so much for everything you did for my Mum.