Probate Pricing

Area of Law: Probate

 Price List 

Applying for the grant, collecting and distributing the assets on a non-taxable estate

Total costs estimated at £3,000 to £5,500 plus VAT and disbursements

We will handle the full process for you. This quote is for estates where:

· There is a valid will/intestacy

· There is no more than one property

· There are no more than five bank or building society accounts

· There are no other intangible assets

· There are three 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

 

Disbursements to be added to this fee:

Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

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 and reviewed on a case by case basis

Probate application fee of £155 (plus 50p per copy)

· £7 Swearing of the Oath (per executor)

· Bankruptcy-only Land Charges Department searches (£2 per beneficiary)

· Official Copy Title Deeds – Land Registry fee £3.00

· Assenting property to beneficiary – depends on the value of the property

· Electronic identity search (AML) £7.20

· £93.60 inclusive of VAT Post in The London Gazette – Protects against unexpected claims from unknown creditors. Post in a Local Newspaper – additional costs dependant on the Borough where the deceased lived. This also helps to protect against unexpected claims

Potential additional costs:

If the estate consists of any share holdings (stocks and bonds) and has more than five bank accounts and four beneficiaries 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.

· Search for missing beneficiaries estate

· Preparation of Deed of Variation, Declaration of Trusts and Deed of Renunciation.

· If any additional copies of the grant are required, they will cost £X (1 per asset usually).

· Dealing with the sale or transfer of any property in the estate is not included.

· Assets abroad

· Requirement to claim Residential Nil Band

· CGT implications

· Foreign domicile issues

How long will this take?

On average, estates that fall within this range are dealt with within six to nine months. Typically, obtaining the grant of probate takes two months to three months. Once we have received the Grant, we will then collect all assets, settle all liabilities and distribute the assets, which normally takes three to six months.

Applying for the grant, collecting and distributing the assets on a taxable estate

We will handle the full process for you. This quote is for estates where:

· There is a valid will/intestacy

· There are no more than three properties

· There are no more than five bank or building society accounts

· There are no other intangible assets

· There are three 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 inheritance tax payable and the executors do need to submit a full account to HMRC including transferring unused nil rate bands and residential nil rate bands, together with any further exemptions which may be application

· There are no claims made against the estate

Total costs estimated at £7,000 to £9,500 plus VAT and disbursements

Possible disbursements to be added to this fee:

Probate application fee of £155 (plus 50p per copy)

· £ 7 Swearing of the oath (per executor)

· Bankruptcy-only Land Charges Department searches (£2 per beneficiary)

· Office copy entry – Land Registry fee £3.00

· Assenting property to beneficiary – depends on the value of the property

· AML search £7.20

· £93.60 inclusive of VAT Post in The London Gazette – Protects against unexpected claims from unknown creditors. Post in a Local Newspaper – additional costs dependant on the Borough where the deceased lived. This also helps to protect against unexpected claims.

Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

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 and reviewed on a case by case basis.

Potential additional costs:

If there is no will or the estate consists of any share holdings (stocks and bonds) and has more than five bank accounts and four beneficiaries 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.

· Search for missing beneficiaries in an estate

· Preparation of Deed of Variation, Declaration of Trusts and Deed of Renunciation.

· If any additional copies of the grant are required, they will cost 50 p (1 per asset usually).

· Dealing with the sale or transfer of any property in the estate is not included.

· Assets abroad

· Foreign domicile issues

· CGT implications

How long will this take?

On average, estates that fall within this range are dealt with within nine to eighteen months. Typically, obtaining the grant of probate takes three to four months. Once we have received the Grant, we will then collect all assets, settle all liabilities and distribute the assets, which normally takes three to twelve months.

Why not see how Hodders Solicitors UK can help you today

Call 0808 168 8677,

email enquiries@hodders.co.uk

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