Our Probate and Estate Administration Fees

No hidden charges or commission

At Browell Smith & Co Solicitors we are dedicated to our clients and feel that it is essential that we are upfront and honest about our costs. We pride ourselves on being transparent with no hidden charges. This is why we are one of the few Solicitors Firms that DO NOT charge an additional percentage of the estate.

Whilst our exact cost and quote to you will depend on the individual circumstances of the matter we aim to provide you with an idea on costs to the estate below. Our team will be more than happy to provide you with a personalised quote so please do not hesitate to contact us online or by telephone

The costs to the estate will much depend on what work you wish us to do and the complexity of the estate. For example, if there is one beneficiary and no property, costs will be at the lower end of the range. If there are multiple beneficiaries, a property, and multiple bank accounts, costs will be at the higher end. Additionally, you may only wish for us to deal with obtaining the Grant of Probate or Letters of Administration or you may wish for us to also deal with the Estate Administration.

The time it takes to complete the work on a Probate matter varies greatly depending on the complexity and size of the estate. On average it will take around 3-4 months for the estate administration to be finalised with the exception of any house sale which will be dependent on a buyer being found and matters running through to completion in a timely fashion.

In a simple* case, we anticipate it will take between 2 and 10 hours to complete the work at £290 per hour. Therefore total costs will be estimated at between £580 and £2,900 (plus VAT).  On average, estates that fall within this range they are dealt with within 6 to 12 months. Typically, obtaining the Grant of Probate or Letters of Administration takes 16 weeks from the date of submission of the application. Collecting assets then follows, which can take between 2 to 8 weeks. Once this has been done, we can distribute the assets, which normally takes around 2 to 4 weeks.

As part of our fee for dealing with the administration of the estate we will:

•  Go through the assets and liabilities and write the initial letters to banks, building societies, utilities (including council tax) and insurance.
• Submit statutory notices if applicable.
• Draft Oath and Inheritance Tax forms. Calculate if there is Inheritance Tax to pay.
• Submit an application to the Probate Registry to obtain a Grant of Probate.
• Once Probate is received, collect in the assets and pay outstanding liabilities.
• Draft a Deed of Variation of the Will (if applicable).
• Pay any liabilities, any legacies, or interim distributions to the residuary beneficiaries.
• Submit bankruptcy checks.
• Prepare Estate Accounts for approval by the executors.
• Finalise the income tax position of the deceased.
• Pay out balance to residuary beneficiaries.

Disbursements

Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

In a Probate matter the following disbursements are likely to apply:

Potential additional costs

• If there is no will or the estate consists of any shareholdings (stocks and bonds) there are 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 £1.50 each (1 per asset usually).
• Dealing with the sale or transfer of any property in the estate is not included.

*Assumptions:

• 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 no more than 5 beneficiaries
• There are no disputes between beneficiaries on 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 account to HMRC
• There are no claims made against the estate
• All assets are UK based and there is no IHT to pay.