Probate Fees
Cost of applying for the Grant, collecting and distributing the assets
We recognise that estates come in all shapes and sizes and therefore our charges will be calculated by reference to the amount of time spent dealing with the matter. Before we provide an accurate quotation, we will invite you to an appointment (which can be accommodated remotely) to discuss the nature of the estate and your needs, this will allow us to give you a clearer estimation of our fees.
A typical estate administration will cost between £2000 - £8000 plus VAT based on our current hourly charging rate of £272 plus VAT (£326.40) for Dawn Walmsley,Solicitor, who take conduct of your matter. Letters or emails sent and telephone calls made or received being charged at one tenth of that hourly rate, and letters or emails received being charged at one tenth of that hourly rate. Lois may be assisted by other members of the team who also charge on an hourly rate basis as follows;
Fee Earner – Charging Rate
Solicitors/Fellows of the Chartered Institute of Legal Executives/Fee Earners or Paralegals: -
With over 8 years’ experience £272.00
With over 4 years’ experience £233.00
With less than 4 years’ experience £189.00
Training Solicitors/Legal Assistants £134.00
The above hourly rates are subject to VAT at the current rate of 20%. The exact cost will depend on the individual circumstances of your matter. To give you an idea of the legal costs involved we have provided some estate examples.
Example 1 – A Simple and Modest Estate
Mrs X, married with two children died leaving an estate valued at £450,000.00 consisting of:
- a family home;
- both joint and sole bank accounts;
- premium bonds;
Mrs X made a will which appointed her husband as the sole executor of the estate. The will left legacies to her children and the residue of her estate to her surviving husband.
Our fees at present for dealing with such an estate are expected to be £2,000.00 plus VAT and disbursements. We expect that the matter will take no more than 12 months to complete.
Example 2 – A Complex and Taxable Estate
Mr Y, a widow with 3 children, died leaving an estate with a value of £4.2 million consisting of;
- a family home with adjoining farming land;
- a second property which was used as the family’s UK holiday home;
- three bank accounts;
- premium bonds;
- various antiques and jewellery which were sold at auction;
- a portfolio of investments with a wealth manager;
- both private and public listed shareholdings;
- Mr Y had also made lifetime gifts in the seven years prior to his death which he had made comprehensive records of.
Mr Y left a Will which appointed 2 of his 3 children as executors. The Will left 7 cash legacies to various individuals and charities. The residue of his estate after tax and expenses was split equally between his three children, one of which were living overseas.
A complicated inheritance tax return was required and inheritance tax was paid from the deceased’s bank accounts.
Due to the nature of the estate assistance was required from valuers, accountants and share brokers.
Our fees at present rates for dealing with such an estate are expected to be £8,000.00 plus VAT and disbursements. We expect that the matter will take no more than 18 months to complete.
Additional Disbursements
Disbursements are the costs related to your matter that are payable to third parties such as court fees. These include;
Court application fee for the Grant of Representation is £273.
Cost of additional Grant’s of Representation is £1.50 per copy.
Office copy entries £3 per title.
Bankruptcy searches of beneficiaries are £2 each.
The team at Farnworth Rose may ask that you make payment upfront in respect of the disbursements.
What are the potential additional costs?
These can vary significantly depending on the estate and how it is to be dealt with. Your solicitor can provide a more accurate quote once they have more information, however some examples include;
Dealing with the sale or transfer of any property in the estate is not included. Farnworth Rose can provide a separate quotation from our conveyancing team for dealing with this service;
Estate Agent fees for valuing and marketing a property;
Accountant fees for dealing tax returns;
Brokers fees for valuing/selling shareholdings;
Public notices/Asset searches if the assets and debts of the deceased are unknown;
Genealogist fees where beneficiaries or their whereabouts are unknown;
How long will the process take?
An average estate will take between 12 - 18 months.
Who will deal with my matter?
The members of our private client department and links to their profiles can be found below. Janet Lalor is the Supervisor for the private client department.
