Full Probate Service – Dealing with the Inheritance Tax Returns, Obtaining the Grant of Probate and Distributing the Estate
We offer a full Probate service whereby we deal with the whole of the administration of the estate from start to finish on your behalf.
We estimate that this will take between 6 and 30 hours work at an average of £200 per hour. Total Costs are estimated between £1,200 and £6,000 (Plus VAT)
The exact cost will depend on the individual circumstances of the Estate. For example, if there is one beneficiary and few assets, costs will be at the lower end of the range (or possibly even less). If there are multiple beneficiaries, a property and multiple bank accounts, costs will be at the higher end.
If there are any potential further costs we will always notify you beforehand and we will be able to give you a more precise estimate once we have had initial discussions with you.
We will handle the full process for you. This quote is typically for estates whereby:
- There is a valid Will (or if there is no Will, where the estate is straightforward)
- There is no more than one property
- There are no more than 7 bank or building society accounts
- There are no other intangible assets
- There are 2-8 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 are no claims made against the estate
Our Service will include the following where necessary. We will:
- Provide you with a dedicated and experienced probate solicitor or probate manager to work on your matter
- Obtain details and valuations of the assets of the estate
- Complete the IHT205 Inheritance Tax Return (If the estate is taxable and a full IHT400 Account is Required, there may be an additional cost)
- Obtain the Grant of Probate to the estate
- Deal with and close off the assets of the estate
- Gather in funds due to the estate
- Prepare the final Estate Accounts
- Discharge the liabilities of the estate
- Distribute the estate
Disbursements not included in our fees
Disbursements are costs related to your matter that are payable to third parties, such as court fees. We will handle the payment of the disbursements on your behalf to ensure a smoother process.
The disbursements paid will depend on the circumstances of the matter and these may include:
- Probate application fee of £155
- If any additional copies of the Grant are required, they will cost £1.50p each
- Bankruptcy only Land Charges Department searches (£2 per UK resident beneficiary)
- Swearing the Oath fee (£7 per executor)
- A post in The London Gazette and a local Newspaper – (This protects against unexpected claims from unknown creditors) £200-£250
Potential additional costs
If the Estate is particularly large or non-standard, there may be additional costs. We will, of course, advise you about these once we have reviewed the estate. These could include situations where:
- If there is no will or the estate consists of numerous share holdings (stocks and bonds) there is likely to be additional costs that will depend on the estate and how it is to be dealt with. We can give you a more accurate quote once we have more information
- Inheritance Tax is payable on the Estate and a full IHT400 Inheritance Tax Return is required
- There is a claim made against the estate
- There are foreign assets to be dealt with
- Dealing with the sale or transfer of any property in the estate is not included
How long will a Full Probate Service Take?
On average, estates that fall within this range are dealt with within 3 – 9 months. Typically, obtaining the Grant of Probate will take 8-12 weeks