The SRA have asked that we provide more information on an average non-contested Probate cases, where the assets to be collected and distributed are held within the UK only. We believe there is no such thing as an average Probate matter; we treat each client as an individual and our team deals with a wide range of Probate matters. More complex matters may result in additional charges and a longer timescale for completion, which will be set out in our Client Care Letter should you choose to instruct us. Please feel free to contact us if you are unsure whether this pricing information would apply to your matter.
What is the price range for this service?
- If a basic inheritance tax return is required (IHT205), £1,000.00 – £2,000.00 plus VAT
- If a full inheritance tax return is required (IHT 400) is required, £2,500.00 – £5,000.00 plus VAT
What hourly rates do you charge?
- Senior Associate – £250.00 per hour
- Senior Paralegal – £175.00 per hour
What disbursements will I need to pay?
Disbursements are expenses that we have to pay on your behalf for third party services (such as search fees or court fees)
- Probate Court Fee – £155.00
- Probate Court Office Copies – £0.50
- Land Registry Office Copies – £6.00
Will I be charged VAT?
- We charge VAT on our fees but there is no VAT on disbursements.
What steps are involved?
- Notify relevant institutions of the death (if this has not already been done by the family).
- Ascertain all assets and liabilities and obtain date of death values – the timescale will completely depend on the number of assets and with which institutions they are held. If there are properties then formal valuations will need to be arranged. It is therefore almost impossible to give a timescale given every case will be different. However, using the example of an individual who owned one property and one bank account we would expect this to take 6 weeks.
- Prepare the inheritance tax return. Simple cases will only require an IHT205. More complex and higher value cases will require an IHT400 which is significantly longer. Once stage 2 is complete, stage 3 should take no more than a week.
- In the case of the IHT400, this is submitted to HMRC and we wait for the IHT421 to be returned to acknowledge receipt. We cannot submit the application for Probate without this. This stage should take 2 weeks but we are reliant on HMRC.
- Prepare the Executor/Administrator’s Oath and arrange for this to be sworn/affirmed by the Executors/Administrators. This should take no more than two weeks depending on the number and location of the Executors/Administrators.
- Submit the Oath, IHT205 or IHT421 (as the case may be), original Will (if there is one) and the fee to the Probate Registry. Once received by the Probate Registry it should take approximately two weeks to receive the Grant of Probate.
- Once the Grant has been received, copies should be sent to all institutions where the deceased held assets; those assets should be paid to the executor’s client account and liabilities should be paid. The timescale for this will completely depend on the number of assets and the speed and efficiency of the institutions we are dealing with. If there is a property to sell for example, this will inevitably add to the timescale for this step (please see our Residential Sales page).
- Prepare executors accounts showing the capital and income of the estate and the figures due to the beneficiaries for approval by the executors. This should take no more than a week.
- Distribute the assets. This should take no more than a week.
What services are included in the price?
- All of the above steps are included in the price quoted.
- What services may be required in addition to the above, and what will they cost?
- Property sales – please see our Residential Sales
- Inheritance tax planning advice – it is impossible to estimate costs, as this will depend on the extent of the estate. Please speak to us for more information.
- Deeds of Variation the cost will depend on the nature of the variation, but this ranges from £250 + VAT for a simple diversion of assets to £1,000 + VAT for complex variations establishing or winding up trusts.
Who will handle my matter?
- Your Client Care Letter will let you know who is dealing with your matter. More information on your Fee Earner can be found by clicking on their names below:
- With more than 10 years of collective experience, the Probate Team are ably assisted by:
- Jocelyn Hanekom
- Rebecca O’Sullivan
Who supervises the work?