PRICE INFORMATION – PROBATE

In choosing the Burnside Partnership to administer an estate you can be confident that you will receive excellent service from a team which has many years of collective experience. Full details of the qualifications and experience of our Solicitors and other lawyers can be found here.For full information regarding our Estate Administration Service, click here.

We offer two levels of support for clients – a Grant only service and a full estate administration service.

If you choose to instruct us, we will issue a Letter of Engagement which will set out our range of costs that we believe we could incur when dealing with the estate. When an unforeseen complexity arises or where the way in which you ask us to proceed means additional work, we will inform you of this and provide revised costs information.

Grant only service

For a simple estate (where no inheritance tax is payable), our Grant only service obtains a Grant of Probate (or Grant of Letters of Administration). The information is provided by the executors, who will be responsible for dealing with the estate once the Grant has been received.

Where a simplified estate form (IHT205) is submitted, our fees will be £1,500 plus VAT. Where a full estate form (IHT400) is submitted our fees will be £3,000 plus VAT. There will also be Probate Court fees of £155 per application, with a further 50p for each official copy. These fees are higher when an application is not made via a solicitor.

On average, this process will take 6-10 weeks.

Full estate administration service

Most of our clients prefer to use our expertise throughout the entire Probate process. Our full service can include:

 

  • Providing initial advice

 

  • Obtaining the relevant documents required to make the Probate application

 

  • Preparing the appropriate Probate papers including the tax returns

 

  • Making the application to the Probate Registry on your behalf and obtaining the Probate

 

  • Collecting in the estate assets

 

  • Paying tax, liabilities and legacies

 

  • Dealing with HMRC and obtaining appropriate tax clearances

 

  • Preparing full estate accounts and tax returns

 

  • Distributing the remainder of the estate to relevant beneficiaries

The exact cost will vary depending upon the type of assets involved, the size and complexity of the estate and the terms of the will. For example, if there is one beneficiary and no property and no disputes and no inheritance tax payable, costs will be at the lower end of the range. If there are multiple beneficiaries, multiple properties and/or multiple other assets, costs will be at the higher end. If the deceased dies intestate the cost will also be greater.

As a guide, our full estate administration fees are £3,000 – £5,000 plus VAT for a very straightforward estate. For complex estates, fees can exceed £20,000 plus VAT.

Disbursements may include Probate court fees of £155 per application, with a further 50p for each official copy, bankruptcy Land Charges Department searches (£2 per beneficiary), £62.15 plus VAT to place a notice in The London Gazette (to protect against unexpected claims from unknown creditors), and £127.80 plus VAT to place a notice in a local newspaper (the example used is The Oxford Mail) to also help to protect against unexpected claims.

On average, estates are dealt with within 18 months. Typically, obtaining the Grant of Probate takes 16 weeks. The collection of assets can take between 8-10 weeks. Once this has been done, we can distribute the assets, which normally takes 4 weeks.