Obtaining a grant of probate and dealing with the administration of an estate can be complex at a very emotional time for loved ones. it can take several months to make sure everything is done correctly.

Whether there is a Will or not in place the team at Stephensons will ensure that all necessary steps are taken before the Estate is distributed so as to ensure you and the Executors are protected.

 

There are two options available to you. We can obtain the grant of probate for you for a fixed fee or we can apply for the grant and administer the Estate which is charged based on the amount of time it takes for the work to be completed. 

This service is to obtain Grant of Probate or a Grant of Letters of Administration for this we offer a fixed fee quotation. This is on the basis that you are able to provide us with all of the information required including the valuation of estate assets and liabilities. This fixed fee will be on the basis that the distribution of the estate is dealt with by you (or the Executors) once Probate has been obtained.  

Grant only applications  

IHT205 Form (no tax payable) £750.00 + VAT

Disbursements

Court Fee £273.00

Land Registry fee (property only) £3.00

Potential additional Disbursements

Will Search £90.00 plus VAT

Missing Asset Search £199.00 plus VAT

Trustee Notices £200.00 plus VAT

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

• Obtain the relevant documents required to make the application

• Complete the Probate Application and the relevant HMRC forms 

• Draft a Statement of Truth

• Make the application to the Probate Court on your behalf

• Obtain the Probate and securely send two copies to you

Dealing with the sale or transfer of any property of the estate is not included and will be quoted for separately.

How long will this take

Typically, a Grant of Probate takes 6 to 12 weeks.

With this option we will deal with the whole estate administration including obtaining asset valuations, establishing liabilities, applying for the Grant of Probate and dealing with final distribution of the estate.

Every estate is different but, typically, we anticipate that our legal costs would be between £1,500-£5,000 plus VAT. Fees are charged based on an hourly rate of £200 plus VAT. The exact amount would depend on the individual circumstances 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. The exact amount would depend on the individual circumstances so please do get in touch so we can prepare a more accurate quotation for you

We will handle to full process for you, this price guide is for where:

• There is a valid will

• There is no more than one property

• There are no more than 8 bank or building society accounts

• There are no other intangible assets or foreign property

• There are no more than 4 beneficiaries

• There are no disputes between beneficiaries 

• There is no Inheritance Tax payable and the executors do not need to submit a full Inland Revenue Account to H M Revenue & Customs

• There are no claims made against the estate

As part of our 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

• Obtain the relevant documents required to make the application

• Complete the Probate Application form 

• Draft a Statement of Truth

• Make the application to the Probate Registry on your behalf

• Obtain the Probate and securely send two copies to you

• Pay all Legacies 

• Pay all debts and taxes

• Prepare a detailed Estate Account

• Account to Beneficiaries

Disbursements in addition to this fee:

• Probate application fee of £273

• Bankruptcy fee £2.00 per beneficiary

Potential additional Disbursements

• Will Search £90.00 plus VAT

• Missing Asset Search £199.00 plus VAT

• Trustee Notices £200.00 plus VAT

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 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 50p (1 per asset usually).

• Dealing with the sale or transfer of any property in the estate is not included and can be quoted separately

If there are other matters that arise during the administering of the estate for example, complex tax issues, deed of variations there may be additional charges if this is the case, they will be discussed with you first

How long will this take

Typically obtaining a grant, collecting and distributing assets takes approximately 4 to 8 months, these times may vary depending on the circumstances.

With this option we will deal with the whole estate administration including obtaining asset valuations, establishing liabilities, applying for the Grant of Probate preparing and submitting the relevant Inland Revenue Accounts, paying any Inheritance Tax due and dealing with final distribution of the estate.

Every estate is different but, typically, we anticipate that our legal costs would be between £4,000 -£10,000 plus VAT. Fees are charged based on an hourly rate of £200 plus VAT. The exact amount would depend on the individual circumstances 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. The exact amount would depend on the individual circumstances so please do get in touch so we can prepare a more accurate quotation for you

We will handle to full process for you, this price guide is for where:

• There is a valid will

• There is no more than one property

• There are no more than 8 bank or building society accounts

• There are no other intangible assets or foreign property

• There are no more than 4 beneficiaries

• There are no disputes between beneficiaries 

• There are no complex tax issues

• There are no claims made against the estate

As part of our 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

• Obtain the relevant documents required to make the application

• Complete the Probate Application and the relevant HMRC forms 

• Draft a Statement of Truth

• Account to HMRC on your behalf

• Make the application to the Probate Court on your behalf

• Obtain the Probate and securely send two copies to you

• Pay all Legacies 

• Pay all debts and taxes due by the estate 

• Prepare a detailed Estate Account

• Account to Beneficiaries

Disbursements in addition to this fee:

• Probate application fee of £273

• Bankruptcy fee £2.00 per beneficiary

Potential additional Disbursements

• Will Search £90.00 plus VAT

• Missing Asset Search £199.00 plus VAT

• Trustee Notices £200.00 plus VAT

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 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 1.50p (1 per asset usually).

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

Dealing with the sale or transfer of any property of the estate is not included and will be quoted for separately

Typically obtaining a grant, reporting to HM Revenue & Customs, collecting and distributing assets takes approximately 8 to 18 months, these times may vary depending on the circumstances

For more information please contact us on 01384 79731 or 01902 894187

For more Inheritance tax information go to www.gov.uk/inheritance-tax