Our charges for the administration of an estate is based on the hourly rate as set out in our Terms and Conditions. The current rates are £250.00 per hour. In addition we will charge a value element on the estate as follows: –
Value of gross estate less the value of the deceased’s residence or share of the residence 1%
plus
Value of the residence 0.5%
Value of gross estate less the value of the deceased’s residence or share of the residence 1.5%
plus
Value of the residence 0.75%
On any estate with a gross value in excess of £1 million we will consider the value element and may reduce the percentage charged. We will let you know if we decide to do so although we may not be able to make that decision until the administration is complete
In some cases, where you only require us to obtain a grant of probate and the estate is under the Inheritance Tax threshold we may be able to offer a fixed fee.
Ascertaining the assets and liabilities of the estate and obtaining valuation, completing the appropriate documentation, applying for the grant, collecting in the assets of the estate, paying any liabilities and distributing the assets to the beneficiaries
We anticipate this could take up to 6 hours of work at £250.00 plus vat per hour
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:
Possible Disbursements (£ in total):
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.
Potential additional costs
On average, estates that fall within this range are dealt with within 6-12 months. There are occasions where delays from 3rd parties outside our control may lengthen this process.
Obtaining valuation of assets can take up to 4 weeks, depending upon how quickly third parties respond.
Documentation would then be prepared and could take up to 4 weeks depending upon what is required
The application is then submitted to HMCTS. Currently applications are taking up to 8 weeks to be processed by them.
Collecting assets then follows, which can take between 4-6 weeks. Once this has been done, we can distribute the assets, which normally takes 4-6 weeks.
If there is inheritance tax to pay – you may find it useful to check HMRC’s website to see if this may apply
https://www.gov.uk/inheritance-tax
We can calculate the Inheritance Tax and complete the necessary forms, depending on the complexity of the estate this will usually take between 2 and 4 Hours
We can help you through this difficult process by obtaining the Grant of Probate on your behalf.
If there is a valid will and the estate falls outside the threshold at which Inheritance Tax is payable I am able to offer you a fixed fee of £1000.00 plus VAT of £200.00 and the Probate fees
Possible Disbursements (£ in total):
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.
In the event that the estate proves to be in excess of the IHT threshold or we are required to obtain valuations of assets then we reserve the right to charge in accordance with our Terms of Business. We will provide you with a costs estimate for doing so as soon as practicable.
As part of our fixed fee we will:
On average, estates that fall within this range are dealt with within 2-3 months.
Contact our team now for help with all aspects of family law, wills and probate.
Email enquiries@franceslindsay.co.uk or call our closest number: