Probate Fees

Probate Fees

PROBATE PRICING (ESTATE ADMINISTRATION)

The death of a loved one is a difficult time, when expert help dealing with the legal side of their Estate can be invaluable and guidance through the process a great relief.

Here at Harfitts, our experienced team can provide impartial advice to guide you through the process, whether a Will is or is not in existence; apply for Grant of Probate to enable Executors to have the power to deal with the Estate if required and advise on the appointment of an Administrator, if a Will has not been made.

Our Private Client solicitors, Mr Paul Harfitt and Miss Lyndsay Barnes, would be happy to discuss your loved one’s Estate with you. Mr Harfitt has been assisting clients since he was admitted onto the Solicitors Roll in 1976 and has a wealth of experience. With over six years working in the Private Client sector, Lyndsay has been assisting our clients with these matters since joining Harfitts in 2019. Lyndsay gained her LLB (Hons) Degree with the Open University, before completing the Legal Practice Course at the University of Law in Chester. We are pleased to confirm Lyndsay was admitted onto the Solicitors Roll in 2021.

Our Fees

Fees relating to Probate matters are variable dependent upon the complexity of the Estate. We can offer either a fixed fee service, for a Grant only application, or a full Estate Administration service, which we charge in accordance with the guidelines set out by the Law Society.

Full Estate Administration Service

Harfitts full Estate Administration service costs are calculated based upon a time element and a value element. The basis for our time element is charged at an hourly rate of £250, plus 20% VAT. Our value element is charged as a percentage of the gross value of the Estate, to reflect the onerous responsibilities involved in us acting in the matter.  The value element varies depending on whether or not we act as an Executor, or Joint Executor and the type of assets we are dealing with.  The value element is calculated as follows: -

• 1% on the gross value of the Estate (excluding the value of the deceased’s home if this is owned) or 1.5% of the gross Estate if acting as sole or joint Executor (again excluding the value of the deceased’s home); and
• 0.5% of the value of the deceased’s home or 0.75% of the value of the deceased’s home, if acting as sole Executor or jointly with another person.

For example: -

A simple, straightforward Estate, with a modest value and no Inheritance Tax liabilities cost estimate would be approximately £2,250 plus 20% VAT and disbursements. Whereas a high value Estate with Inheritance Tax liabilities, multiple properties to sell and beneficiaries living in other countries the cost estimate would be approximately between £2,250 to £80,000 plus 20% VAT and disbursements.

The final cost of the administration of the Estate will depend on various factors and individual circumstances.  An estimate of costs will be provided upon instruction and can take account of the following: -

• Whether a current Will is in existence
• The number of properties and their values
• The number of bank and/or investment accounts
• The value and type of assets and where they are located globally
• Any liability or otherwise for Inheritance Tax
• Number of beneficiaries and their locations
• Whether there are any disputes in relation to the distribution of the Estate
• Any claims made by others.

 

Disbursements payable on your behalf to third parties can include: -

●	Grant of Probate Registry fees, for an Estate with a value over £5,000 Estates with a value under £5,000 do not incur a Court fee. https://www.gov.uk/applying-for-probate/fees	£273.00 +£1.50 per additional copy (no VAT)
●	Valuation fee for any property or other asset	Dependent on size of property
●	Bankruptcy searches (for each beneficiary)	£2.00 (UK residence - no VAT))
●	Statutory Notices in the Local Newspaper and London Gazette if applicable	Approx £250.00 (inclusive VAT 20%)

 

Grant Only Service

 

We are also able to offer a fixed fee service, where we obtain the Grant of Probate, or Letters of Administration for an Estate, once we have been provided with detailed information confirming the asset base of the Estate and all liabilities. The Personal Representatives will then administer the Estate personally. Our fixed fees will be dependent upon whether the Estate is liable to pay Inheritance Tax (IHT) and are as follows: -

 

●	Probate for Estate without IHT liability from	£1,250 plus 20% VAT and disbursements
●	Probate for Estate with IHT liability from	£2,250 plus 20% VAT and disbursements

 

Possible Additional Charges

• Work involved in the sale or transfer of any property(ies)
• If a Will is not in existence
• The Estate includes stocks, shares or bonds
• Work involved in administering a Will Trust

 

Type of Work Involved

• Identifying legally appointed executors, administrators and beneficiaries
• Identifying the required type of Probate application
• Meeting with executors/administrators of the Estate and advise how to proceed
• Obtaining documentation
• Identify assets and/or liabilities within the Estate and corresponding with the relevant institutions
• Preparation of Application for Grant of Probate
• Preparing any necessary HMRC forms
• Making an application to the Probate Court on your behalf
• Receiving Grant of Probate of Letters of Administration
• Collection of all assets due to the Estate
• Preparing Estate and Distribution Accounts
• Distribution of the Estate

 

Timescales

Generally Probate for a straightforward Estate, which is not subject to Inheritance Tax can take anywhere between 3 and 12 months.

More complex Estates and those which are subject to Inheritance Tax, generally take between 12 and 24 months.

These timescales can largely depend on whether a property is to be sold and on the workload and efficiency of external organisations.

 

Updated: 4^th October 2023