The costs of obtaining probate do vary considerably depending upon who you ask. Typically, if you want help applying for probate, there are three main providers, banks, wills and probate companies, and Solicitors.
Most banks in our experience charge a fixed percentage of the estate typically, 2-4%, which we believe to be unfair, as it can lead to ridiculous fees being charged.
For example, if you consider two estates that consist of monies held in bank account, one with £50,000 and the other estate has £100,000, if a 3% fee is charged, the estate totalling £50,000 the fees would be £1500, while the estate with £100,000 the cost £3000 despite the amount of work being exactly the same ! 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.
Fixed fee probate ? the fairer way
Times are changing and the vast majority of families simply want probate obtaining quickly and cost effectively without the need for expensive fees being charged.
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. Thereafter, we can then collect the assets, pay the liabilities, produce the accounts and then distribute the net estate to the beneficiaries.
At the beginning of the case, we will ask a few straightforward questions regarding the estate, once received we will then e-mail a written quote outlining our services, the fixed fee and the likely time frame of finalising everything. If a case is very straightforward, we can typically obtain within 3-5 weeks. We operate across the Uk and can be contacted on 01482 42 9985.
Interested to know how much probate would cost ?
If you would like us to tell you how much it would be to obtain probate for you – simply call us now on 01482 429985, and as to speak with Tim Murden. Alternatively, please e-mail tim.murden@tmsolicitors.co.uk, we would simply need to know whether is a will, the nature and value of the assets eg. bank or property and the number of beneficiaries, and liabilities.
We look forward to helping you.
