“GRANT ONLY” PROBATE SERVICE

A “grant only” application is limited to us preparing the inheritance tax return and probate application based on the figures that you provide and obtaining the grant for you carry on the administration yourself.

Subject to the variable below, examples of our fees for the Grant only are as follows:

In an estate which is not subject to inheritance tax and with no complications assuming the work would take between 6 and 10 hours of work our fees might be £1,500 and £2,000 plus VAT plus disbursements.

Example: estates passing wholly to spouse which are exempt from tax where, for example, the estate consists of a property, a few investments, a few bank accounts, some listed shareholdings and/or other ’uncomplicated’ assets, and a relatively small number of beneficiaries it is likely to take around 6 hours of work and our fixed fees might be in the region of £1,500 plus VAT plus disbursements.

In an estate which is not subject to inheritance tax but where a full tax return is required assuming it would take between 10 and 15 hours of work our fees might be between £2,000 and £3,000 plus VAT plus disbursements.

In an estate that is subject to inheritance tax and more extensive disclosure requirements to HMRC it is likely that significantly more time will be spent and we would not envisage spending less than 20 hours on such a matter. Our fees would be a minimum of £3,000 plus VAT plus disbursements.

Example: For a taxable estate valued up from £500,000 to £1 million where, for example, the estate is more complex and it is likely to take between 40 – 50 hours of work and our fixed fees might be in the region of £7,950 plus VAT plus disbursements.

SERVICES INCLUDED IN PROBATE ONLY SERVICE:

The following services are included in our fees for obtaining a Grant of Probate only:

  • corresponding with the Personal Representatives throughout the process
  • writing to financial institutions to obtain date of death balances
  • placing statutory advertisements if required (excluding the cost of the ad itself)
  • carrying out an unclaimed assets search if required (excluding the cost of the search itself)
  • arranging unoccupied property insurance cover if required (excluding the cost of the policy itself)
  • preparation of an assets and liabilities schedule
  • preparation of the inheritance tax account
  • calculating any inheritance tax due
  • applying for an inheritance tax reference if required
  • arranging payment of any inheritance tax due
  • preparing documents required for any executor renouncing or having power reserved
  • preparation of the probate application
  • sending hard copies of any supporting documents for the probate application to the Probate Registry
  • receiving the Grant of Probate

 

What is NOT usually included in the fixed price but available at extra cost if required

The following services are not included in our fees:

  • arranging property probate valuations (unless this firm is appointed as executor)
  • Will searches
  • statutory advertisements
  • completion of any outstanding tax returns from the period prior to death
  • dealing with any estate disputes or claims against the estate
  • conveyancing fees
  • estate agent’s fees
  • professional fees charged by other third parties
  • preparing a Deed of Variation if required
  • preparing any documents required for the administration of a trust
  • missing beneficiary services
  • handling foreign assets and business assets

 

We will discuss these issues with you at the outset of any matter in order to determine the likely fees applicable to your matter and to determine the scope of your instructions to us.

FULL ADMINISTRATION OF AN ESTATE SERVICE

Where, in addition to completing the inheritance tax account and preparing the paperwork necessary to obtain the Grant of Probate, you also instruct us to assist with the administration of the estate, our fees will be calculated on an hourly charging basis. These fees will be charged according to hourly rate of the fee earner assigned to your matter and these are as follows:

  • Director £250.00
  • Head of Department £250.00
  • Solicitor/FCILEX* £225.00
  • Conveyancer/Probate Lawyer £180.00
  •  Paralegal £175.00
  • Trainee Solicitor £175.00

 

Completing Estate Administration

In addition to all the above the following services are included in our fees for obtaining a Grant of Probate and completing the full administration of an estate:

  • corresponding with the beneficiaries throughout the process
  • transferring any jointly held assets into sole name including property
  • preparing account/investment closure/sale forms
  • collecting the funds from all sole assets held
  • settling any estate liabilities
  • calculating and settling any income tax due for the estate administration period
  • evaluating and advising on any Capital Gains Tax liabilities
  • preparing estate accounts
  • preparing an inheritance tax corrective account if required
  • arranging for payment of any additional inheritance tax due
  • arranging payment of any legacies/gifts as detailed in the Will
  • distributing the residuary estate to the beneficiaries

Services Not Included

The following services are not included in our fees:

  • arranging property probate valuations (unless this firm is appointed as executor)
  • Will searches
  • statutory advertisements
  • completion of any outstanding tax returns from the period prior to death
  • dealing with any estate disputes or claims against the estate
  • conveyancing fees
  • estate agent’s fees
  • professional fees charged by other third parties
  • preparing a Deed of Variation if required
  • preparing any documents required for the administration of a trust
  • missing beneficiary services
  • handling foreign assets and business assets

 

We will discuss these issues with you at the outset of any matter in order to determine the likely fees applicable to your matter and to determine the scope of your instructions to us. However, it is likely that we would spend no less than 10 hours on such instructions in addition to the work required to obtain a grant of probate.

Probate & Estate Administration: Our fees

Unless otherwise stated, VAT is charged at 20 per cent of the fee as addition to the fee. For example, if the fee is £100, the VAT is £20 and the total is £120.

Before formally actioning your instructions, we will consult with you to ascertain your requirements and then confirm the same in writing stating our fees for the work involved based upon specific circumstances of the deceased’s estate.

In most cases, our fees will be calculated on fixed fee basis for the work required.

We will calculate how much time we anticipate will be spent on working on the matter in accordance with your instructions to us. We will take into account the work that will be required in the context of the complexity of the estate and provide a fixed fee. This will be based on the number or hours work we anticipate will be required for that aspect of the work and calculated in accordance with our hourly rate set out below.

A fixed fee is the sum you will pay unless any circumstances arise which we were unaware of when the price was fixed. In those circumstances, or where the matter does not proceed for any reason, we will charge on the hourly charging basis (i.e. the time recorded on the matter). Such fees would cover work including time spent on meetings with you and others; preparing documents; preparing advice; reading and preparing letter, emails and faxes; telephone call made and received, travel and any other activity necessary to progress your matter.