Probate & Estates
It can be very difficult when someone has died and there is often confusion about what to do next. We therefore offer a free half an hour meeting with Katherine Oakes on all bereavements in order to discuss the procedures involved in administering an estate.
It may be that you have the time and inclination to deal with the administration of the estate yourself and just wish us to obtain the grant of probate or letters of administration for you. If this is the case, we charge a fixed fee probate service of £975 including VAT to obtain the Grant of Probate or Letters of Administration. Typically, obtaining the Grant of Probate or Letters of Administration will take between 4-8 weeks, you can then deal with the administration of the estate. Click here to view our fixed fee grant leaflet.
If you decide you wish us to do all the administration then we will charge an hourly rate of £185 plus VAT and disbursements and in some instances a value element but this would depend on the size and complexity of the estate. An average estate will normally take between 10-20 hours to administer. The number of hours will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property, it will take less time to administer. If there are multiple beneficiaries, a property and multiple bank accounts, then it will take longer.
We will handle the full administration for you. The number of hours given is for an estate where:
- There is a valid will
- There is no more than one property
- There are no more than 4 bank or building society accounts
- There are no other intangible assets
- There are less 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
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. Disbursements may include:
- Probate application fee of approximately £160
- £7 Swearing of the oath (per executor)
- Approximately £200 Trustee Act Notice in The London Gazette and a local newspaper– Protects against unexpected claims from unknown creditors.
Potential additional costs – If there is no will or the estate consists of any share holdings (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. Dealing with the sale or transfer of any property in the estate is not included.
On average, estates can take between 6-12 months to administer. If the estate is very large, inheritance tax is payable or if there is a property to sell then it may take longer.
Please see our easy print bereavement booklet which gives loads of really helpful advice and information on what you need to know about when a loved one has passed away whether you are an executor, administrator or surviving spouse.
Please contact Katherine Oakes to arrange a free no obligation meeting.
Looking for more information?Send us an enquiry Call us on 01373 462017 Easy Print Leaflet See what our clients think