Probate

Williams Co Legal Master Divider

Probate – hourly rate with range of costs

Williams Co Legal Master Divider

The exact cost for the Probate work we undertake will depend ultimately on the individual circumstances of the matter. For example, if the estate is not complicated and for example, there is only one beneficiary and no property and limited assets to collect, costs will be at the lower end of the range. If there are multiple beneficiaries, a property and multiple bank accounts and other assets the costs will be at the higher end.

This information about the costs is for estates where:

There is a valid will

There is no more than one property

There are no more than 2 or 3 bank or building society accounts

There are no other intangible assets

There are 1-3 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 and the estate does not include:

A business, farms, farmhouses or farmland, an interest in another estate, loans or mortgages payable to the deceased, foreign assets, assets held in trust, national Heritage assets or unlisted stocks and shares and control holdings.

VAT is charged at 20%

Legal Fees and Disbursements:

Note: 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.

 

Applying for the grant, collecting and distributing the assets:

This work will usually take between 10 and 15 hours work at £180.00 per hour. The range of hourly rates applied will vary according to the seniority and qualifications of the people handling the probate. The fees could therefore be between £1800.00 and £2700.00 plus VAT

So for example, if the work takes 10 hours to complete and the hourly rate of the person, handling the matter is £150.00, the legal fee charged will be £1,500.00 plus VAT.

When you instruct us we will send a letter to you setting out the basis upon which we will charge our fees.

Possible Disbursements:

Probate application fee of £155.00

£7.00-9.00 Swearing of the oath (per executor)

Bankruptcy-only Land Charges Department searches (£2.00 per beneficiary)

£62.15 + VAT (estimated) Post in The London Gazette – Protects against unexpected claims from unknown creditors.

£185.00 + VAT (estimated) Post in a Local Newspaper – This also helps to protect against unexpected claims.

What services does this fee include:
The following steps are included:

Identify the legally appointed executors or administrators and beneficiaries and establish the extent of the estate by identifying the various assets and liabilities

Prepare the Grant of Probate and have it sworn by the executor(s) and submitted to the appropriate Probate Registry together with the Will, if there is one

Once the Grant is received from the Probate Registry it is submitted to the various organisations with whom assets are held in order to start the process of transferring the assets into the beneficiaries’ names;

All estate liabilities have to be paid before the estate can be distributed among the beneficiaries;

Confirming that tax is paid up to date and there are no outstanding HMRC claims;

Preparation of the Estate accounts and distribution of the estate in accordance with the terms of the Will.

Potential additional costs include:

If there is no will or the estate consists of any share holdings (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 £0.50p each (1 per asset usually).

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

The typical timescales and key stages of the purchase transaction.

On average, estates that fall within this range are dealt with within 6-9 months.

Typically, obtaining the grant of probate can take between 8-14 weeks. Collecting assets then follows, which can take between 8-12 weeks. Once this has been done, we can distribute the assets, which normally takes another 6-8 weeks.

Probate – Fixed Fee

Williams Co Legal Master Divider

We can help you through this difficult process by obtaining the Grant of Probate on your behalf based on a fixed legal fee.

Williams Co Legal Master Divider
This information about the costs is for estates where:

There is a valid will

There is no more than one property

There are no more than 1-3 bank or building society accounts

There are no other intangible assets

There are 1-3 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 and the estate does not include:

A business, farms, farmhouses or farmland, an interest in another estate, loans or mortgages payable to the deceased, foreign assets, assets held in trust, national Heritage assets or unlisted stocks and shares and control holdings.

Legal Fees and Disbursements:

Note: 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.

Applying for the grant, collecting and distributing the assets:

This work will can be undertaken on the basis of a fixed fee. The range of fixed fees we charge fall between £1,800 (plus. VAT) and £7,500 (plus VAT).

When you instruct us we will send a letter to you setting out the basis upon which we will charge our fees.

Possible Disbursements:

Probate application fee of £155 + 50p for each copy

£7.00 – £9.00 for each executor Swearing of the oath (per executor)

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

£62.15 + VAT Post in The London Gazette – Protects against unexpected claims from unknown creditors.

£185.00  + VAT Post in a Local Newspaper – This also helps to protect against unexpected claims.

What services does this fee include:

The following steps are included:

Identify the legally appointed executors or administrators and beneficiaries and establish the extent of the estate by identifying the various assets and liabilities

Prepare the Grant of Probate and have it sworn by the executor(s) and submitted to the appropriate Probate Registry together with the Will, if there is one.

Once the Grant is received from the Probate Registry it is submitted to the various organisations with whom assets are held in order to start the process of transferring the assets into the beneficiaries’ names;

All estate liabilities have to be paid before the estate can be distributed among the beneficiaries;

Confirming that tax is paid up to date and there are no outstanding HMRC claims;

Preparation of the Estate accounts and distribution of the estate in accordance with the terms of the Will.

Potential additional costs include:

If there is no will or the estate consists of any share holdings (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 £0.50p (1 per asset usually).

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

The experience of the people who may carry out the work for you:

Joanne Newsome has at least 10 years experience representing clients in relation to Wills and Probate matters.

The typical timescales and key stages of the purchase transaction

On average, estates that fall within this range are dealt with within months.

Typically, obtaining the grant of probate can take between 8-14 weeks. Collecting assets then follows, which can take between 8-12 weeks. Once this has been done, we can distribute the assets, which normally takes another 6-8 weeks.