Applying for the grant, collecting and distributing the assets
We anticipate this will take between 10 and 50 hours work.
The exact cost will depend on the individual circumstances of the matter. There are many different factors which affect the costs of administering an estate including:
- The extent and complexity of the assets in the estate particularly foreign assets
- If there is Inheritance Tax to pay and how that is to be funded
- The number of beneficiaries of the estate
- If there is a property in the estate that needs to be sold
We can handle the full process for you. Our range of fees for the full administration of an estate may run from £1,500 to £20,000. This fee range does not include VAT, disbursements or Inheritance Tax (or any other taxes) that may be due on the estate.
This estimate of the work required is for estates where:
- There is a valid will
- There is no more than one property
- There are no more than 5 bank or building society accounts
- There are no other intangible assets
- There are up to 10 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 are no claims made against the estate
Potential additional costs
- If there is no will or the estate consists of any share holdings (stocks and bonds) there are 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.
- Dealing with the sale or transfer of any property in the estate is not included.
How long will this take?
On average, estates that fall within this range are dealt with within 6 to 12 months. Typically, obtaining the grant of probate takes 3 to 5 months. Collecting assets then follows, which can take between 3 to 6 weeks. Once this has been done, we can arrange payment of the debts of the estate and the balance of any Inheritance Tax and other taxes and then distribute the assets, which normally takes 10 to 20 weeks but this depends on whether the Executors require clearance from HM Revenue & Customs prior to final distributions.
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. Disbursements during the administration of an estate may include:
- Probate Registry application fee of £155 plus 50p per sealed copy of the Grant of Probate (or Grant of Letters of Administration)
- Bankruptcy searches through the Land Charges Department at £2 per beneficiary
- Notices in the London Gazette and a local newspaper which protect you against unexpected claims from unknown creditors – the total cost of the notices is usually between £180 and £220.
- Lost assets search fee – £162.
- Search of the Certainty register for a Will – £114
Please note that the Probate Registry application fees are due to increase substantially in 2019. The proposed fees will depend on the value of the estate. For example, where the value of the estate is between £300,000 and £500,000 the application fee will be £750. If the estate is between £500,000 and £1m then the fee will be £2,500. The maximum fee will be £6,000 for estates exceeding £2m.