When someone dies leaving a will the Executors may need to obtain a Grant of Probate from the Probate Registry to enable them to administer the Will. If there is no will the deceased is deemed to have died intestate (without a Will) and a Grant of Letters of Administration will be required to facilitate the administration of the estate.
We recognise that this formal process comes at a difficult time in people’s lives and often when people are grieving.
We would like to help you. Our team are very experienced, knowledgeable and sensitive. Being an Executor or an Administrator of an estate is an important role. There are certain obligations and duties on Executors and Administrators, and it is sensible to receive specialist advice to ensure that they are carried out correctly.
Whilst some estates are straightforward, some may be very complex, particularly those with tax liabilities. The role of dealing with the administration of an estate can be daunting as it often involves unfamiliar processes. That is why it is prudent to seek advice from our experienced professionals to ensure the estate is administered correctly and Inheritance Tax issues are dealt with.
We can help with all aspects of estate administration and ensure that the interests of the estate are protected and your duties as an Executor or Administrator are discharged. We can do as little or as much as you wish. We deal with the complete administration of the estate for many clients, which they have said is a welcome relief for them at a difficult time.
We charge an hourly rate of between £180 -£250 plus VAT to allow for flexibility.
As an example, our fees for a simple Probate with no tax issues would be approximately £2,000 plus VAT.
A complicated probate with tax issues or conflict between beneficiaries could be in excess of £3000 plus VAT.
Fees are entirely dependent on the circumstances of the estate. When we have our initial meeting, we will be able to give you a guide of costs tailored to the circumstances of the administration of your particular estate.
Please note – unlike many law firms, we only charge our clients a percentage of the estate if the matter is particularly complex or there is ongoing dispute between the beneficiaries.
In addition to our fees and any Inheritance Tax due there are some ‘disbursements’ that we may be required to pay on your behalf to third parties during the administration of the estate, such as:
- Probate Court fee of £155 (subject to significant proposed change in April 2019)
- £0.50 for each office copy of the grant required (1 per asset usually)
- £3 plus VAT HM Land Registry official copy entry
- £36 bankruptcy search
- £5 plus VAT for electronic ID search
- HM Land Registry registration fees based on scales and the value and status of the property
- Other third party costs will be advised as required, e.g. accountant’s fee for potential income tax return, statutory advertisement fee to advertise for unknown creditors, asset tracing fee
- There may be additional third party costs for lost share certificates and share registrar and/or sale agent fees on transfer or sale of the shares
- S27 Advertisements in the London Gazette and a local newspaper in from £150 -£300 depending on the local newspaper advertising costs.
- Stockbroker fees £25 -£150 depending on the number of shareholdings to be dealt with.