Applying for the grant, collecting and distributing the assets
We anticipate this will take between 10 and 20 hours work at £220.00 per hour. Total costs estimated at – £2,200.00-£4,400.00 (+VAT).
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 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.
We will handle the full process for you. This quote is for estates where:
• There is no more than one property
• There are no more than 10 bank or building society accounts
• There are no other intangible assets
• There are no international 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 is no inheritance tax payable and the executors do not need to submit a full account to HMRC
• There are no claims made against the estate
Disbursements included in this fee:
• Probate application fee as of 1st May 2019 £155.00 plus £0.50 per sealed copy of the Grant of Representation (usually maximum of 10 copies)
• Bankruptcy-only Land Charges Department searches (£2 per beneficiary)
• £300 to advertise in the The London Gazette & the local newspaper – protects against unexpected claims from unknown creditors.
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
• 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 6-9 months but this is dependent on extraneous factors such as delays in responses from the Department for Work & Pensions (DWP) or other government agencies, utility companies and banks and, not least of all, completion of the sale of the estate property. Typically, obtaining the grant of probate takes 2 weeks. Collecting assets then follows, which can take between 4-6 weeks. Once this has been done, we can distribute the assets, which normally takes place 6 months after the Grant of Representation has been issued.
As part of our fee we will:
• Provide you with a dedicated and experienced probate solicitor who is also a member of The Society of Trust & Estates Practitioners 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 legal statement of truth for you to sign
• Make the application to the Probate Registry on your behalf
• Collect and distribute all assets in the estate