
Probate Fees
Probate
When we undertake a full administration for our clients this means that we deal with every aspect of an estate administration both legal and practical. Our service includes:
- Confirming the existence and validity of a will
- Corresponding with all asset and liability holders in the estate
- Arranging house insurance where necessary
- Arranging property valuations
- Preparing the inheritance tax return and applying for additional relief where appropriate
- Preparing the probate application
- Arranging payment of inheritance tax
- Registering the grant of probate and arranging closure of accounts
- Finalising income tax and capital gains tax where appropriate
- Drafting estate accounts
- Confirming the identity of and distributing to beneficiaries
- Conducting bankruptcy searches
- Preparing certificates of deduction of income tax where required
Our Fees
– Value of estate £500,000+ = approximately £6,000+VAT
– Smaller estates i.e. below £500,000 = between £2,000-£3,000+VAT
– An average administration costs about 1% of the gross value of the estate plus VAT for larger estates.
– Disbursements to be paid in addition to the above fees include:
- Swearing Oath = £10
- Probate Fee = £155
- Additional Copies of the Grant = 50p each
Likely Timescales
Dealing with the winding up of the affairs of someone who has died can between 6 to 12 months. Winding up an estate involves dealing with many organisations, for example banks, building societies, insurance companies, share registrars and HM Revenue and Customs.