The costs of dealing with your “Probate” will vary considerably depending on the complexity of the matter.
We charge on the basis of 0.25% of the value of the deceased’s estate which comprises “real” property (i.e. houses and buildings etc.) and 0.5% of the remainder of the assets plus the time spent on the matter at an hourly rate of between £160 and £325 depending on who is doing the work.
The fees above are subject to VAT at 20% and there will be disbursements (out of pocket expenses) in addition and these will include (but not be limited to):
Probate application fee
Swearing of the oath by executors (per executor)
The London Gazette and local papers advertisements – protects against unexpected claims from unknown creditors
There will be additional fees and disbursements if a sale of a property is required.
How long will it take
Again this depends on the complexity of the matter but on average it will take between 6 months and a year from when you instruct us to obtain a grant of Probate.
If there is a dispute as the the validity of the will or between beneficiaries or executors it could take considerably longer and this will also add to the costs of our dealing with the administration.
Stages of the process
Identify the legally appointed executors or administrators and beneficiaries
Accurately identify the type of Probate application you will require
Identify and obtain details and values of all deceased’s assets and liabilities (this can be the longest part of the process)
Calculating IHT payable (if any)
Considering how IHT will be paid and seeking a loan if required
Obtain the relevant documents required to make the application
Complete the Probate Application and the relevant HMRC forms
Draft a legal oath for you to swear
Make the application to the Probate Court on your behalf
Paying IHT (if required)
Obtain the Probate
Collect in and distribute all assets in the estate and pay debts