Lasting Power of Attorney Guide & Costs

Wills Probate And Disputed Estates Solicitors

Range of fees for probate work

This range of fees apply where the estate administration is relatively straightforward and non- contentious, the deceased was domiciled in the UK and all estate assets are in England and Wales. If we are the executors and there is no immediate family to deal with practical matters, there may be additional charges due to the additional work involved.

Our charges are based entirely on time spent working on the matter which is charged at the hourly rate of the fee earner/s working on the file. We do not charge a percentage of the value of the estate in addition to our standard charges.

An initial fee estimate is given as early as possible and this is confirmed when full information about the estate assets, beneficiaries and relevant documents have been considered.

If it appears at any point that additional work which was not originally anticipated is likely to be necessary, we will confirm this in writing and provide an updated fee estimate before starting any work. Additional costs could be payable on a fixed fee (e.g. if a one off document is required), or at our hourly rates if more extensive work is needed.

Our Charges

Estate not subject to Inheritance Tax	Our approximate fee
Estate Value up to £5,000	£1,250 plus VAT
Estate value over £5,000 up to £1million	£4,000-£8,000 plus VAT
Estate value over £1million but no IHT due to spouse or charity exemption	£7,500-£10,000 plus VAT

Estate Subject to Inheritance Tax	Our approximate fee
If the estate administration is straight forward (for example there is a property and a bank account) then the charges will be towards the lower end of the scale. However, if the estate administration is more complicated (for example there are several share holdings, several bank accounts and a property) then the charges will be towards the higher end of the scale.	£7,000 -£11,250 plus VAT

To find out whether the estate is subject to inheritance tax please visit www.gov.uk/inheritance-tax

What do our charges include?

Obtaining your detailed instructions.
Obtaining from you all deeds and documentation relating to the affairs of the deceased and reviewing.
Registering the death with the asset holders and obtaining confirmation of date of death valuations.
Checking that we have correct addresses for the beneficiaries.
Obtaining any formal valuations which may be required by HMRC.
Completing the Inheritance Tax account, and obtaining your approval.
Preparing the personal representative’s Oath and arranging for it to be sworn by you.
Obtaining from you the Probate fee and obtaining any necessary cheque for Inheritance Tax before submitting any Inheritance Tax to HMRC with the Inheritance Tax account. Alternatively, making a request for any Inheritance Tax to be paid direct to HMRC through the Direct Payment Scheme.
When the Inheritance Tax receipt account is returned from the Capital Taxes Office, submitting the application for the Grant of Representation.
When the Grant of Representation has been issued, registering it with all asset holders together with completed withdrawal forms to secure the release of estate monies.
Placing Trustee Act Notices in the appropriate publications, where required.
Ensuring all the deceased’s accounts are closed or transferred, as appropriate.
Arranging for the sale or transfer of any of the deceased’s shares.
Discharging all liabilities of the estate for which you have not taken responsibility.
Paying all pecuniary legacies and making interim distributions.
Finalising the deceased’s tax affairs.
Preparing draft estate accounts and obtaining your approval to these.
Obtaining clearance from the Capital Taxes Office that all tax has been paid and from HMRC to confirm that all Income Tax and Capital Gains Tax for the deceased and the administration period has been paid.
Making final payments to the beneficiaries from the estate.

Potential Additional Costs

Our charges do not include payment of disbursements. Disbursements are costs relating to your matter that are payable to third parties. The likely disbursements are as follows:

£155 probate application fee plus an additional 50p per sealed copy of the Grant of Representation required.
£5 per personal representative to swear the oath plus £2 per attachment, e.g. a Will.
Approximately £200 fee for posting ‘Section 27 Trustee Act 1925’ notices which protect the personal representatives from unknown creditors. This is not compulsory.
£2 per beneficiary bankruptcy search where necessary.
Surveyors fees to value property, where necessary.
Genealogists to trace missing beneficiaries, where necessary.

Our charges also do not include dealing with the sale of any property on behalf of the estate as this will be dealt with by our conveyancing department.

How long does the process take?

We estimate that it will usually take approximately 12 weeks to obtain a Grant of Representation and thereafter approximately a further 3-6 months to deal with the estate and to finalise all other matters, save perhaps for finalisation of tax returns. This may take rather longer as we are of course bound to an extent by tax years. This is an estimate based upon the assumption that third parties respond swiftly to requests for information and that there are no unexpected complications. If any such problems do arise, we will keep you fully informed. If they are likely to increase the amount of time we spend dealing with your file, we will notify you in writing and let you have a new costs estimate.

If you require our assistance with the administration of a deceased’s estate, or any other private client work, please contact our team www.osborneslaw.com/wills-probate-disputed-estates-team

Our Probate Lawyers:

Jan Atkinson, Partner

Jan heads our private client team. She has a wealth of knowledge and expertise in all areas of probate, particularly high value and international estate administrations. Jan is a registered Trust & Estate (TEP) and her hourly rate is £325.