The exact costs of dealing with the above will depend on the individual circumstances of the matter, and the time spent by the lawyer(s) dealing with the matter, contracted at these hourly rates:
Simon Cook £240 + VAT
Rachel Sugden £220 + VAT
Hannah Wall £220 + VAT
Samantha Doherty £210 + VAT
Laura Stone £200 + VAT
Susie Jones £200 + VAT
Jennifer Cockett £175 + VAT
Elspeth Thomson £160 + VAT
By way of example, we would anticipate that it would take between 11 and 13 hours work at £175 per hour (total costs of £1,925-£2,275 (plus VAT) to handle a simple estate. This quote would apply to estates where:
There is a valid will
There is no more than one house/flat
There is no more than 3 bank or building society accounts
There are no other assets
There are no more than 2-3 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
If there is no will or the estate consists of any share holdings (stocks and bonds) there are 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 house/flat in the estate is not included in the above estimate.
Other expenses (payable to third parties)
Probate application fee of £155 (current fee)
If any additional copies of the grant are required, they will cost 50p each (1 per asset usually)
Bankruptcy-only Land Charges Department searches (£2 per beneficiary per distribution)
Approximately £100 for a notice in The London Gazette – Protects against unexpected claims from unknown creditors
Approximately £100 for a notice in a local newspaper – This also helps to protect against unexpected claims
Approximately £450 plus VAT for a property valuation by a RICS qualified surveyor.
How long will this take?
On average, estates that fall within this range are dealt with within approximately 12 months. Typically, obtaining the grant of probate takes 3-4 months. Collecting assets then follows and once this has been done, we can distribute the assets.
If you would prefer to undertake some of the work yourself, you can choose to instruct us to complete just part of the process for you.
We can help you through this difficult process by obtaining the grant of probate on your behalf, on the basis that you provide us with all the necessary information and will be responsible for the payment of any inheritance tax that may be due, collection of assets, payment of liabilities and making distributions.
How much does this service cost?
For estates where Form IHT205 is required: a total fixed fee of £1,050 (plus VAT)
For estates where Form IHT400 is required: a total fixed fee of £2,450 (plus VAT)