Here at Trent Law, we understand your needs and expectations when it comes to thinking about your future and your family. Our specialist solicitors are here to help guide you through the process of putting the relevant legal framework in place.
Services that we offer are:
Bespoke Will Drafting services
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Probate and estate administration
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Probate Disputes
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Power of Attorney services
Probate Fee and Costs
Please note that the following information is for guidance only and an accurate fee estimate will be provided once we have had our initial consultation and assessed the estate in terms of value and work to be undertaken.
Grant Application and Administration of the estate:
We always try to provide you with a fixed fee estimate of the costs.
Fees for Estate Administration:
As a guide, we estimate our fees for dealing with the administration of an estate will be in the region of:
Where the gross value of the estate assets for Inheritance Tax purposes does not exceed £75,000, our fees would be £1200 plus VAT.
Where the gross value of the estate assets for Inheritance Tax purposes exceeds £75,000 but there is no Inheritance Tax payable upon the estate, our fees would be 1.5% of the gross value of the estate assets for Inheritance Tax purposes plus VAT – subject to a minimum fee of £1200 plus VAT.
Where there is Inheritance Tax payable upon the estate, our estimate fees would be 2% of the gross value of the estate assets for Inheritance Tax purposes plus VAT.
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Additional Fee:
Expenses which are or may commonly be incurred in the administration of an estate are:
Probate Registry fees of £155 to obtain the Grant plus £1.50 for each sealed copy of the Grant you require.
Inheritance Tax which in general terms is charged at the rate of 40% upon the net estate for Inheritance Tax purposes after deduction of available tax allowances.
Land Registry fees to check the property title – £3 per property.
Certainty register search – £120 plus VAT approximately.
Landmark lost assets search – £200 approximately.
Statutory advertisements for creditors – £250 approximately.
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Disbursements Costs:
Furthermore, there will be a number of disbursements that the probate will incur and these are listed below with current prices (all of which are not subject to VAT):
Application fee payable to the Probate Registry - £155 plus £1.50 per sealed copy
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Bankruptcy only Land Registry charges searches £2 per beneficiary
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£100 post in the London Gazette – to protect against unexpected claims for unknown creditors
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£150-200 minimum to post in local newspaper in respect of unknown creditors notice. These costs are variable depending on the newspaper rates.
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Estate agents fees if we have to instruct a sale of a property.
Timeframes
The average time frames are listed below, and we will aim to provide you with update and accurate timeframes at your initial appointment and throughout the process:
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Collating the assets and liabilities 4 to 8 weeks (dependent on third parties providing relevant information)
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Obtain the Grant or Probate (or Letters of Administration) 3 to 4 weeks
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Estate Administration – typically 6 to 12 months but again on a case by case basis.