Applying for the Grant, collecting and distributing the assets
We anticipate that this will take between 15 and 17.5 hours work at £200.00 per hour. The total costs are estimated at £3,000.00 to £3,500.00 plus VAT. The exact costs will depend upon the individual circumstances of the matter. For example, if there is one beneficiary and no property, costs will be at the lower end of this range. If there are multiple beneficiaries, a property and multiple bank accounts, then the costs will be at the higher end of this range.
We will handle the full process for you. This quote is for estates where:
- There is a valid Will.
- There is no more than one property.
- There are no more than 5 bank or building society accounts.
- There are no other intangible assets.
- There are up to 4 beneficiaries.
- There are no disputes between beneficiaries and the division of assets. If disputes arise this is likely to lead to an increase in costs.
- There is no inheritance tax payable and the Executors do not need to submit a full inheritance tax account to HMRC.
- There are no claims made against the estate.
The following disbursements will be additional to our fees. These will include:
- Probate application of £155.00.
- £7.00 for swearing the Oath per Executor.
- Bankruptcy searches against each beneficiary of £2.00 per beneficiary.
- Approximately £200.00 to issue statutory advertisements in the London Gazette and a local newspaper – this helps protect against unknown creditors.
Disbursements are costs related to your matter that are payable to third parties, such as Court fee. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Potential Additional Costs
If there is no Will or the estate consists of any shareholdings (stocks and bonds) there is likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with. We can give you a more accurate quote once we have more information.
If any additional copies of the Grant are required they will cost 50p per copy. We usually obtain one copy of the Grant for each asset in the estate.
Dealing with the sale or transfer of any property in the estate is not included.
How long will this take?
On average, estates that fall within this range are dealt with within 9-12 months. Typically, obtaining the Grant of Probate takes 8-10 weeks. Collecting assets then follows, which can take between 4-6 weeks. Once this has been done, the sale of any property has been completed and any statutory advertisements have expired, we can distribute the assets, which normally takes 2-4 weeks.
Probate Only Application
We can help you through this difficult process by obtaining the Grant of Probate on your behalf.
How much does this service cost?
Total fixed fee of £1,020.00 inclusive of VAT. This includes identifying and valuing the assets for probate and obtaining the Grant.
Additional to the fixed fee quoted above there will be the following disbursements:
- Probate Court fee of £155.00.
- Additional copies of the Grant of Probate at 50p per copy.
This fixed fee service is for all estates where inheritance tax is not payable and an inheritance tax account is not required to be submitted to HMRC. Should you require us to obtain the Grant of Probate for you for an estate which is taxable or where an inheritance tax account is required to be submitted to HMRC, we can still agree a fixed fee with you, but this will be set on a case by case basis.
For the fixed fee stated above we will:
- Provide you with a dedicated and experienced Probate Solicitor to work on your matter.
- Identify the legally appointed Executors or Administrators.
- Identify the type of probate application you require.
- Value the assets as at the date of death.
- Complete the IHT205 and submit this to the Revenue.
- Draft a legal Oath for you to swear.
- Make the application to the Probate Court on your behalf.
- Obtain the Probate and securely send the sealed copies to you.
On average, estates that fall within this range are dealt with within 8-10 weeks.
"As a family we found the service provided to us was delivered with ’empathy’ and was in fact ‘outstanding’, we would most certainly recommend Woollcombe Yonge to friends.”