How Much Will It Cost?
The cost of a straightforward application for a Grant of Probate where there is no Inheritance Tax to pay (less than £325,000) ranges from between £2,000.00 to £3,500.00 plus VAT (£400.00 to £700.00). These costs are based on hourly rates of £195.00 to £230.00 plus VAT per hour depending upon the level of experience of the fee earner dealing with the matter.
Typically, the administration will also incur some additional fees (known as disbursements) as follows:-
- Probate Court fees: These are the charges made by the court to register the Grant and costs £155.00 plus £1.50p per additional sealed copy of the Grant.
- Trustee Act Notices: It is usually recommended that Personal Representatives place advertisements in the London Gazette and a local newspaper to notify creditors of their death, typically costing between £165.00 and £200.00.
- Swearing the Oath for Executors/Administrators: £5.00 plus £2.00 for each additional document (ie a Will or Codicil) referred to.
- Bankruptcy search fees: Required before payments are made to beneficiaries at a cost of £2.00 per person where they reside in the UK.
What is not included in this example:
- Additional work relating to the payment of Inheritance Tax and the completion of a full tax return.
- Work relating to the submission of an Income Tax or Capital Gains Tax return.
- It also assumes that the beneficiaries are easily contactable and there are no more than 10 separate assets and six different beneficiaries of the Estate in total.
- Any work involving a claim against the Estate or disputes between Executors/ Administrators.
- Dealing with delays caused by organisations or individuals failing to respond to correspondence in a timely manner.
- Matters involving a transfer of property will be charged separately, often with additional disbursements payable.
- Further advice regarding Inheritance Tax savings, including matters relating to Deeds of Variation will also be charged separately.
More complicated cases will be quoted on a case by case basis before we start any work for you.
These will typically be
- those above the nil-rate band threshold;
- where the Will has complicated instructions;
- where there is a property or multiple properties;
- where there are more than six beneficiaries.