We summarise below a range of typical fees that might be involved in Grant of Probate applications and also the full administration of estates. However, we appreciate that every matter is different. At the outset, we will analyse your case and provide you with a tailored estimate of fees.
Grant of Probate Applications: you provide the financial information required and we will complete the relevant forms for approval and submit them to the relevant organisation for processing. We will provide you with the Grant to administer the Estate.
Our prices for Grant of Probate Applications only:
- When there is no Inheritance Tax to pay and shorter Probate forms
£1,200 – £1,500 + VAT at 20% & disbursements. - Longer Inheritance Tax forms (IHT400) – £2,000 – £2,500 + VAT at 20% & disbursements.
When completing the full Administration of an Estate the price will depend on the assets included. Our service includes obtaining all financial information required, completing the relevant forms for approval, submitting the application, obtaining the Grant, administering the Estate up to, and including preparing Estate accounts and distributing the Estate. lThese prices do not include dealing with the transfer or selling of shares and all costs associated with property sales or transfers, will be separate and in addition to the costs outlined here:
- Non-taxable estates – Between £5,000 and £12,000 + VAT at 20% & disbursements.
Where Inheritance Tax is payable;
- up to £1M – Between £7,500 and £20,000 + VAT at 20% & disbursements.
- over £1M – Costs by agreement.
Of course the above is dependent on the number and complexity of assets included, some estates will require more work than others. The above-quoted prices deal with estates where all of the financial information and valuations are provided. If Hallmark Whatley Hulme are required to obtain valuations etc. then a fixed fee cannot be guaranteed.
For full administration matters– the quoted prices will only apply to estates where:
- There is a valid Will
- There is no more than 1 residential property
- There are 5 or less bank/building society accounts
- There are no other intangible assets or shareholdings
- There are 5 or less main beneficiaries.
- There is no dispute
Typical Disbursements:
During the administration of the estate we may incur some or all of the following Disbursements on your behalf:
- Probate Registry Fees – Probate Application fee £526.00
- Probate Registry Fees – sealed copy obtained with Grant each £2.00
- sealed copies of the Grant obtained after Grant issued each £16.00
- Swear Fees (if an Oath or Affidavit is required) £7.00
plus £2.00 per exhibit - Statutory Notice publication fees – variable but approximately £300.00 plus VAT
- Bankruptcy search Fees (per beneficiary)
UK £7.80
Foreign Price varies - Anti-Money Laundering Searches (per legatee, beneficiary
and executor) UK maximum fee applicable £12.00 plus VAT - ECOS online AML/Identification Verification £9.00 plus VAT
- ECOS online foreign AML/Identification Verification Price varies
- Due diligence administration charge £30.00 plus VAT
- Asset search variable but approximately £250.00 plus VAT
- Land Registry – Office Copy Entries £8.80 per title
- International Bank transfer fee per transfer £15.00
(the beneficiary may also be charged by their own bank) - Death Certificate – certified copies from Registrar £12.50 each
- Registered postage – submitting probate application £10.00 plus VAT
Disbursements are fees charged by third parties and are liable to change at short notice. We will endeavour to advise you of any changes but you will be liable for the increased fee if such a change takes place whilst we are dealing with your matter.
How long will it take?
- Application only No Inheritance Tax to be paid – 12-14 weeks to obtain a Grant
- Applications where Inheritance Tax is payable – 14-16 weeks to obtain a Grant
- The above timescale depends on how quickly HMRC and Probate Registry process the application.
- Full administration of an estate – 12-24 months – of course this is dependent on a number of factors. For example, if we are waiting for a property to sell, or to deal with International Assets this can delays matters and that can add to the time required to finalise the estate.
Who will do the work?
The work will be carried out by those specialised in this area of work, namely solicitors, trainee solicitors and other support staff.