These costs estimates are subject to us assessing the actual details of the estate from all the original documents and are for guidance purposes only.
Bradleys only operate Probate and Estate Administration using qualified staff. All staff who carry out this work are authorised by Council for Licenced Conveyancers – a specialist regulator who regulate not only property matters but also Probate Practitioners.
Where the firm has been appointed Executors of the Estate the fees may be greater if we are asked to carry out duties that otherwise may have been dealt with by family or friends – examples of this may be where we have to register the death, arrange the funeral and/or arrange scattering of ashes or the making of memorial stones or plaques.
For Letters of Administration (where either all or part of the estate is not dealt with by a valid Will) please contact us for further details. If Inheritance Tax (or a claim for the transfer of the Nil Rate Band of Inheritance Tax by a spouse or civil partner or a claim for the Residential Nil Rate Band) is involved this will increase the fees. Fees for dealing with any house or property in the Estate will be provided separately. We do not deal with Contentious Probate i.e. where there is a dispute about any part of the process.
Executors have “the Executors year” generally to carry out their duties. In simple cases 12 months is sufficient to complete the administration of an Estate – often it can be done in a shorter period of time. The time taken can be influenced by Inheritance Tax, the complexity of the assets being administered, how long a property may take to sell, tracing beneficiaries, varying an Estate to reflect the wishes of the parties or to save Inheritance Tax or special issues like the wish to leave Premium Bonds invested for 12 months following death so that the Estate can benefit from any winnings during that period.
Grant of Probate.
For just obtaining a Grant of Probate (if we agree to provide that service) we charge an hourly rate of between £199 and £258 depending on the qualifications and experience of the fee earner required to deal with your matter. We estimate that it should take between 8 to 10 hours to complete the work. Fixed fees may be available. VAT at the current rate will be added to these fees.
Administration of Estates (including the Grant of Probate)
For dealing with the full administration of an estate including obtaining the Grant of Probate, collecting in and distributing the assets we charge an hourly rate of between £199 and £258 depending on the qualifications and experience of the fee earner required to deal with your matter. We estimate that it should take between 20 to 30 hours to complete the work. Again fixed fees may be available. VAT at the current rate will be added to these fees.
Changes in Costs
Costs may vary due to the individual circumstances of each case. By way of illustration if there is only one beneficiary and one or two assets the costs will be on the lower end of the scale. If there are a number of beneficiaries (or beneficiaries who are under age), multiple assets, bank accounts or shares (in either quoted or unquoted companies) then the costs will be at the higher end.
The costs illustrations are for estates where:
- There is a valid Will.
- There is no Trust in the Will.
- There are no more than 5 beneficiaries.
- There are no more than 5 bank accounts.
- The beneficiaries are not in dispute with each other over the division of assets.
- There are no overseas assets.
If there are issues not covered here then once we have all the information we will provide an individual estimate of the costs.
These are costs payable to third parties that relate to your matter. These are additional to our legal fees. The disbursements associated with a Probate are:
- The Probate application fee of £155 plus £0.50p for each additional office copy of the Grant (due to change in April 2019).
- Bankruptcy search fee – currently £2 per name.
- Statutory Section 27 Trustee Act Notice in the London Gazette and a local Newspaper, advertising for unknown creditors £150 - £250 – this protects the Executors from the personal liability that they would otherwise have for debts arising from the Estate. We always advertise where the firm are Executors.
For help with any aspect of Estate administration, please call us on 01276 691555 to speak to one of our specialist lawyers.