TM Solicitors probate costs

Applying for the grant, collecting and distributing the assets

We anticipate this will take between 10 and 25 hours work at £300 per hour plus VAT charged at 20%. Total costs estimated at £3,000-£7,500 (+VAT charged at 20%).

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. Probate cases undertaken on a hourly rate will be handled by Tim Murden. A  list of staff profiles can be seen by clicking here.

We will handle the full process for you. This quote is for estates where:

• There is a valid will or intestacy
• There is no more than one property
• There are no more than 12  bank or building society accounts
• There are no other intangible assets
• There are no more than 8 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 inheritance tax payable
• A full inheritance tax return is likely
• There are no claims made against the estate

Disbursements included in this fee (where applicable VAT is included at 20%):

• Probate application fee of £300
• £150 Post in The London Gazette – Protects against unexpected claims from unknown creditors
• £150 Post in a Local Newspaper – This also helps to protect against unexpected claims.

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

If there is no will or the estate consists of any share holdings (stocks and bonds) there is 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.

If any additional copies of the grant are required, they will cost £1.50 (1 per asset usually).

Work Included and Key Stages

The services included in our prices displayed ( unless otherwise agreed ) will be as follows :-

• Taking initial instructions
• Assessing the deceased’s assets and liabilities
• Completing the probate application
• Completing all inheritance tax returns required for the probate application to include claims for relief from inheritance tax
• Placing notice in London gazette for potential creditors
• Once the grant is received collecting in the estate assets and paying any liabilities
• Completion of estate accounts
• The distribution of the estate according to the terms of the will or the intestacy rules when there is no will

Services that are not included in our costs

• Advice in respect of overseas assets outside of the UK
• Contested probate matters
• Any conveyancing matter
• Disputes between beneficiaries
• Advice on matters such as a deed of variation
• Management or registration of Trusts
• Dealing with the sale or transfer of any property in the estate is not included.

How long will this take? Likely timescales

Our service on the above example given above typically takes between 6-12 months. The key stages of which are as follows :-

• Completing the probate application and inheritance tax return – 8-12 weeks
• Obtaining the grant of probate – 16-20 weeks
• Collecting in estate assets – -6-8 weeks
• Distribution of the estate assets -6-8 weeks

It can be a lot shorter if there are very few assets and all information is readily available. We will always update you throughout the case, so you know exactly the likely time frame as to when the estate is likely to conclude.

If inheritance tax is payable on an estate, we will advise you at the beginning of the case, and any inheritance tax will be additional to the price displayed. You can view the likely level of inheritance tax payable by using the HMRC online calculator by clicking here whilst for further information on the probate process by reviewing the governments website by clicking here.

 

Probate On a fixed fee basis

In more straightforward probate cases we are able to act on your probate matter on a fixed fee basis. This type of case typically involves low value estates under £200,000, those with no inheritance liability, cases involving 1-4 bank accounts, and 1-4 beneficiaries. All cases will be supervised by Tim Murden and handled by our specialist probate team. You can view the profiles by clicking here.

How much does this service cost?

Fee Type	Range of fixed Fees	Vat ( charged at 20%)	Total
Fixed fee	£1500-£3000	£300-£600	£1800-£3,600

 

Disbursements included in this fee (where applicable VAT is included at 20%):

• Probate application fee of £300
• £150 Post in The London Gazette – Protects against unexpected claims from unknown creditors
• £150 Post in a Local Newspaper – This also helps to protect against unexpected claims.

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

If there is no will or the estate consists of any share holdings (stocks and bonds) there is 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.

If any additional copies of the grant are required, they will cost £1.50 (1 per asset usually).

Work Included and Key Stages

The services included in our prices displayed ( unless otherwise agreed ) will be as follows :-

• Taking initial instructions
• Assessing the deceased’s assets and liabilities
• Completing the probate application
• Completing IHT 205 inheritance tax return required for the probate application
• Once the grant is received collecting in the estate assets and paying any liabilities
• Completion of estate accounts
• The distribution of the estate according to the terms of the will or the intestacy rules when there is no will
• Draft the estate accounts and distribution

Services that are not included in our fixed Price

• Advice in respect of overseas assets outside of the UK
• payment of inheritance tax or full IHT 400 inheritance tax return
• Contested probate matters
• Any conveyancing matter
• Disputes between beneficiaries
• Advice on matters such as a deed of variation
• Management or registration of Trusts

How long will this take? Likely timescales

Our service on the above example given above typically takes between 6-8 months. The key stages of which are as follows :-

• Completing the probate application and inheritance tax return – 6-8 weeks
• Obtaining the grant of probate – 16 weeks
• Collecting in estate assets – -5-6 weeks
• Distribution of the estate assets -5-8 weeks

It can be a lot shorter if there are very few assets and all information is readily available. We will always update you throughout the case, so you know exactly the likely time frame as to when the estate is likely to conclude.

Wills and Power of Attorney Services

Drafting and preparation of wills for local clients £300 plus vat charged at 20%

Drafting and preparation of Lasting Power of Attorney’s £275 plus vat charged 20% at per LPA. The registration fee per LPA to the Office of the Public Guardian is currently £82 no vat chargeable.

Contested probate

A full summary of how we charge for contested probate cases can be seen by clicking here