How Much Does Probate Cost On Average?
The costs of obtaining probate vary considerably depending upon who you ask.
Typically, if you want help applying for probate, there are three main providers of probate services:-
- wills and probate companies
Probate Services Provided By banks
Most banks in our experience charge a fixed percentage of the estate typically, typically 2-4%. We believe this to be unfair as it can lead to ridiculous fees. They will also outsource their services to a solicitor and as such they are effectively often a middle man unless appointed as executor.
Charging percentages is unfair. If you consider two estates that consist of monies held in bank accounts, one with £50,000 and the other estate has £100,000. If a 3% fee is charged, the estate totalling £50,000 would pay £1500, while the estate with £100,000 would pay £3000 despite the amount of work being exactly the same! often the value of the estate ( if non-taxable ) has not bearing upon the work involved.
Other ways of charging relate to a fixed percentage of the estate and a hourly rate. This is the favoured approach by most traditional law firms, however in our view it simply doesn’t create any efficiency ( sometimes quite the opposite )
Fixed Fee Probate Service?
In our experience the vast majority of families simply want probate obtaining quickly and cost effectively without the need for expensive fees. We focus on the legal aspect of obtaining probate, which relates to the application to the probate registry and completion of inheritance tax returns which must be completed in every case.
We charge a fixed fee and to provide a quote, we would simply need to know the nature of the Deceased’s assets, liabilities, whether there is a will, and the number of beneficiaries.
We can typically obtain probate within 7-8 weeks. We operate across the UK and can be contacted on 0845 568 4000.
Make A Free Enquiry
Make a free, no obligation enquiry now. Call us on 0845 568 4000 or click here to make a free online enquiry.