Fees

The time taken to undertake the work necessary to take care of an estate will vary significantly depending on a number of factors. It is not possible to provide a general price for the work. However, we do not charge based on a percentage of an estate but instead on the complexity of the work and the time taken.

We can either work to a fixed fee or charge on a time basis. If the fees are to be based on a time basis, we will provide you with an estimate in advance of undertaking any work. If we identify anything as the case progresses that is likely to significantly alter the fee, we will bring this to your attention as soon as possible.

There are various difference types of Estates and therefore the level of our input can vary hugely case by case as can the fee packages. 

Fee Estimates

A Simple or Excepted Estate

Preparation of an estate summary to include details of the assets held for the online application of the Grant and obtaining Probate. For deaths before 31^st December 2021, a Short Inheritance Tax Return (Form IHT205) will need to be prepared, along with the online application for the Grant and obtaining Probate.

This will usually consist of main residence, bank/building society accounts, some savings or investment products and pensions. The final costs will depend on the number of assets and executors involved and whether there is a requirement to make a claim for the transferable Nil Rate Band or assess the availability of the Residence Nil Rate Band further costs. We would expect that a valid Will is in place and all Executors are happy to act. 

The Executors will provide all verified information and obtain all valuations required. We will not provide an Executors Bank Account or carry out any Administration of the Estate. All information will be passed back to the Executors for them to distribute and finalise the Estate. Fee Estimate starts from £950 plus VAT.

The Executors will provide all verified information and obtain all valuations required. We will provide an Executors Bank Account and collect the assets of the Estate, make payment of the Estate debts and distribute the Estate to the beneficiaries per the Will. The number of beneficiaries (Charity or individual) will be reflected in the fees charges. We will also prepare and provide Estate Accounts for the Executors (which will be quoted for separately) Fee Estimate starts from £1,450 plus VAT.

A more detailed Estate

Preparation of the Full Inheritance Tax Return Form IHT400 and associated Schedules and filing the online application for the Grant and obtaining Probate.

If Inheritance is payable on a larger or more complex Estate then a full Inheritance Tax return and associated schedules may be required, they may be several different further types of assets to be identified and valued and relief claimed in these instances. We would expect that a valid Will is in place and all Executors are happy to act.

This will usually consist of main residence, a few bank/building society accounts, some National Savings or ISA’s. The final costs will depend on the number of Assets/ executors involved and whether there is a requirement to make a claim for the transferable nil rate band or assess the availability of the Residence Nil Rate Band further costs. We would expect that a valid Will is in place and all Executors are happy to act. Fee Estimate starts from £1,950 plus VAT.

The Executors provide all verified information and obtain all valuations required. We will calculate the IHT liability due (if any) and if required prepare the schedules to arrange the direct payment of the IHT from the nominated account should this be required.

This will usually consist of main residence, some bank/building society accounts, some savings or investment products and pensions. The final costs will depend on the number of Assets/ executors involved and whether there is a requirement to make a claim for the transferable nil rate band or assess the availability of the Residence Nil Rate Band further costs. We would expect that a valid Will is in place and all Executors are happy to act. Fee Estimate starts from £2,450 plus VAT.

The Executors will provide all verified information and obtain all valuations required. We will provide an Executors Bank Account and collect the assets of the Estate, make payment of the Estate debts and distribute the Estate to the beneficiaries per the Will. The number of beneficiaries (Charity or individual) will be reflected in the fees charges. We will also prepare and provide Estate Accounts for the Executors (which will be quoted for separately). Fee Estimate starts from £3,250 plus VAT.

In addition to the above where Inheritance Tax reliefs are required to calculated and claimed such as Business Property Relief and Agricultural Property Relief, there may be additional charges.

Basis for Hourly charges

Additional Disbursements:

Probate Practitioner Application Fee: £273.

There is a small additional charge of £1.50 for extra copies of the Grant of Probate.

Land Registry Checks: £3 per check.

There can be other costs that may be required such as additional bankruptcy checks and missing beneficiary searches that may be required and these will be advised to you.

Notification in The London Gazette and a local newspaper of the individual’s death to protect against claims from unknown creditors – £100 to £200.