No matter how modest and straightforward or extensive and complex they may be, your assets should be managed in the most tax-efficient way and according to your wishes, and be passed onto your heirs without undue taxation or delay. This can best be done by having a Will, prepared by an experienced solicitor who takes the time to understand your individual circumstances and preferences.
At any time, illness or an accident may mean you can no longer manage your business and family affairs. We can make sure you have a Lasting Power of Attorney in place so that a trusted friend or relative can manage your affairs for your benefit and your dependents. If it is too late to plan ahead and someone you care for is no longer able to make rational decisions, we can still help you using the provisions of the Court of Protection.
During Probate our experienced lawyers will provide support and practical advice to your dependents whilst making sure that the legal necessities are attended to properly.
Abbey Solicitors Wills & Probate services include the following:
- Preparing your Will
- Effects of divorce/re-marriage
- Lasting Powers of Attorney
- Court of Protection matters
- Inheritance tax advice
- Lifetime gifts/settlements
- Gifts to charity
- Passing on family assets
- Establishing/managing trusts
Click here to speak to our experts in Wills and Probate related issues and see how we can help
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Abbey Solicitors Probate Fees
Probate Grant Only
We can help you through this difficult process by obtaining the Grant of Probate on your behalf.
How much does this service cost?
TOTAL: Fixed fee of £1,500 plus VAT and disbursements
This includes: preparing IHT form and the oath for swearing, submitting the application to the Probate Registry and obtaining the grant.
Breakdown of costs:
Legal fees £1500
In addition, there are disbursement costs which are usually passed on to the Estate of
Disbursements:
- Probate court fee of £155.00.
- £7.00 Swearing of the oath (per executor).
- Bankruptcy-only Land Charges Department searches (£2.00 per executor and beneficiary).
- £6.00-£12.00 Land Registry Official Copies (for Property)
- Electronic Identification Check (£ per executor and beneficiary)
- £83.40 Post in The London Gazette – Protects against unexpected claims from unknown creditors.
- £138.00 Post in a Local Newspaper (Echo) – 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.
As part of our fixed fee we will:
- Provide you with a dedicated and experienced probate solicitor to work on your matter
- Identify the legally appointed executors or administrators and beneficiaries
- Accurately identify the type of Probate application you will require
- 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
- Obtain the Probate and securely send two copies to you
Typically, obtaining the grant of probate takes 8-12 weeks depending on how quickly the executors are able to provide the date of death valuations for assets and liabilities.
Probate Full Administration
Obtaining date of death valuations for all assets and liabilities, applying for the grant, collecting and distributing the assets
These matters are dealt with on a time and cost basis with an hourly rate of £220.00 per hour. Most full administration matters cost between £3000.00-£8000.00 plus VAT and disbursements.
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:
- There is a valid will
- There is no more than one property
- There are no more than 3 bank or building society accounts
- There are no other intangible assets
- There are 4-6 beneficiaries
- There are no disputes between beneficiaries on the 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 include:
- Probate application fee of £155.00
- £7.00 Swearing of the oath (per executor)
- Bankruptcy-only Land Charges Department searches (£2 per executor and beneficiary)
- £6.00-£12.00 Land Registry Official Copies (for Property)
- Electronic Identification Check (£4.20 per executor and beneficiary)
- £83.40 Post in The London Gazette – Protects against unexpected claims from unknown creditors.
- £138.00 Post in a Local Newspaper (Echo) – 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.
Potential additional costs
- If there is no will or the estate consists of any shareholdings (stocks and bonds) 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.
- If any additional copies of the grant are required, they will cost £0.50 (1 per asset usually).
- Dealing with the sale or transfer of any property in the estate is not included.
How long will this take?
On average, estates that fall within this range are dealt with within 9-12 months. Typically, obtaining the grant of probate takes 8-12 weeks. Collecting assets then follows, which can take between 6-8 weeks. Executors are advised to wait for a period of 6 months from the date of the Grant before distributing assets to protect themselves in the event that a claim is made against the estate under the Inheritance (Provision for Family Dependants) Act. Once this has period has expired, we can prepare estate accounts and distribute the assets, which normally takes 4-6 weeks.
Percentage Value of Estate,
Where an Estate Offers is of higher value or offers significant complexity we may charge an additional percentage of the value of that Estate of between 0.5% and 1%. This figure would be agreed with the Executors of the Estate prior to it applying after the grant of probate.
