Our full probate service includes:
- Registering the death and assisting with funeral arrangements if required.
- Obtaining the date of death values for all assets and liabilities.
- Prepare the Statement of Truth and IHT 205/IHT400 tax forms as applicable.
- Preparation of a schedule of assets and liabilities for your approval.
- Applying to the Probate Registry for the Grant of Representation.
- Upon obtaining the Grant to arrange, encash or transfer the various assets.
- Pay all debts and subsequently distribute any legacies, specific gift and residue.
- Liaise with HMRC to settle any tax outstanding before death and during administration.
- Provide complete estate accounts.
How much does this service cost?
Our fees for full probate are charged at an hourly rate, which ranges from £180 – £220 per hour plus VAT (£216 – £264 inclusive of VAT). Apart from disbursements, we only charge for the time we spend on each probate and consider this to be the fairest to our clients with no hidden charges or any extras.
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 less than if there are multiple beneficiaries, a property, and multiple bank accounts. Other factors which will influence the costs are where:
- There is more than one property.
- There are a number of bank or building society accounts.
- There are other intangible assets.
- There is more than one beneficiary.
- There are disputes between beneficiaries on the division of assets. (If disputes were to arise this is also likely to lead to an increase in costs).
- Inheritance tax is payable and the executors need to submit a full account to HMRC.
- There are claims made against the estate.
Whilst it is difficult to provide the exact costs, we do provide an estimate from the outset following an initial consultation to establish what is involved and advise you of the total estimated costs.
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.
- Probate Registry court fees currently £155.
- Sealed copies of the Grant of Representation £0.50 each.
- Bankruptcy-only Land Charges Department searches (£2 per beneficiary).
Potential additional costs
- Letters of Administration – if there is no will or the estate consists of any shareholdings (stocks and bonds) there is likely to be additional costs based on time 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.
- Dealing with the sale or transfer of any property in the estate is not included.
- Additional copies of the Grant of Probate requested other than at the time of application, will cost £10 (copies £0.50 each).
How long will this take?
No two estates are the same and because of this giving a timescale for winding up the estate is difficult to predict especially as information is sought from third parties such as financial institutions and government bodies and these parties may have their own time constraints.
Once the application has been submitted to the Probate Registry the Grant of Probate should be delivered within 3 weeks.