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.