Probate Costs

Through senior solicitors and experienced practitioners, Price Slater Gawne offers a comprehensive suite of services relating to the administration of the estate of someone who has died. We always aim to provide our clients with a sensitive, personable and efficient service. We understand a significant reason for engaging with professionals is so that we can take the stress away from you and utilise our expertise to make the process as straightforward for you as possible.

Providing an estimate of costs for the administration of an estate can often be difficult and is rarely an exact science. Our experienced solicitors and practitioners will often need to know more about the estate and your needs before a price, or pricing structure can be agreed. We understand however, that it is helpful to provide “ballpark” figures. This note is designed to give transparency to our pricing, but our lawyers will always confirm the proposed terms with you ahead of you incurring any charges.

Full Estate Administration

This is where we administer the estate from start to finish. In essence, we will:

• Provide advice in relation to your duties as personal representatives and explain how the estate is to be administered including how to minimise any risk to you as executors;
• Work with you to obtain all of the information required to complete the relevant HMRC and Probate Registry forms;
• Prepare the papers leading to a Grant of Representation, submitting online or paper applications as necessary;
• Obtain the Grant of Representation and collect in, or transfer the deceased’s assets;
• Discharging the deceased’s liabilities including inheritance tax if applicable;
• Advise on the implications of any trust planning contained in a Will;
• Where required, prepare estate accounts to show all of the transactions and movements in value of the Deceased’s estate during the administration period; and
• Distribute the estate in accordance with the provisions in the Will or under intestacy.

What is not automatically included (but may be offered as an additional service):

• Registering the death or arranging the funeral;
• The administration of assets situated outside of England and Wales;
• Finding missing beneficiaries;
• The preparation of HMRC income tax returns;
• The preparation of post-death deeds and planning advice including deeds of variation or rectification;
• Conveyancing beyond the submission of a DJP form;
• Personal attendance on any property of the deceased;
• Insolvent estates;
• Work continuing the trade of any business in the estate that is properly chargeable to that business;
• Continuing or terminating any trusteeship of the deceased;
• Work which would properly be classed as the responsibility of the trustees of any trust associated with the estate;
• Obtaining additional finance to meet estate liabilities, such as inheritance tax;
• Instructing counsel for advice;
• Registering any trust with the Trust Registration Service; and
• Any litigation or disputes relating to an estate (either pre or post issue and as either applicant or respondent).

Pricing – Full Administration

The estate value referred to below is calculated by reference to the gross estate value used for inheritance tax purposes.

• Estates valued lower than £325,000: £4,995 + VAT

Estates valued higher than £325,000 but where no inheritance tax is payable:

• For the value up to and inc. £1.5m: Up to 1.75% + VAT
• For the value above £1.5m up to and inc. £3m: Up to 1.50% +VAT
• For the value above £3m up to and inc. £6m: Up to 1.25% + VAT
• For the value above £6m up to and inc. £9m: Up to 1.00% + VAT
• For the value above £9m: Up to 0.75% + VAT

Estates valued higher than £325,000 but where inheritance tax is payable:

• For the value up to and inc. £1.5m: Up to 2.10% + VAT
• For the value above £1.5m up to and inc. £3m: Up to 1.80% + VAT
• For the value above £3m up to and inc. £6m: Up to 1.50% + VAT
• For the value above £6m up to and inc. £9m: Up to 1.20% + VAT
• For the value above £9m: Up to 0.90% + VAT

Worked example

The pricing structure works cumulatively. For example, a non-taxable estate of £3.5m in value would incur charges no greater than 1.75% + VAT on the first £1.5m (£26,250 + VAT) and then charges no greater than £1.5% on the value above £1.5m up to 3m (£22,500 + VAT) and finally, charges no greater than 1.25% on the remaining £500,00 (£6,250 + VAT). The maximum we would charge would therefore be £55,000 + VAT, representing 1.57% + VAT overall.

These prices only relate to the work carried out by this firm. They do not include ordinary liabilities of the estate or third-party payments and disbursements such as bankruptcy searches, court fees, counsel’s fees, genealogy fees, statutory advertisements, insurances, courier fees etc.

The following disbursements will be incurred in addition to our fee:

Probate registry fee: £300

Copy Grant of probate: £1.50 per copy

Bankruptcy searches per beneficiary (England & Wales): £2

Bankruptcy search for any non domicile beneficiary: variable

Depending on the complexity and content of the estate the following disbursements may also be incurred:

Will search: £99 + VAT

Financial asset search: £165 + VAT

Missing beneficiary search/tracing services and related indemnity insurance: variable

Valuation fees: variable

Accountants fees: variable

Statutory creditor notices (S27 notice):  £200 – £400 + VAT (Fee dependent on location)

Land Registry OCE: £7 per title

Where applicable VAT is charged at 20% or the rate set at the time by the UK Government.

Ensuring fairness

The figures above represent the maximum amount we would charge. At PSG we have a policy of ensuring fairness to our pricing structure as we accept that the value of an estate doesn’t always represent the complexity of its administration. For example, an estate which consists of a small number of valuable assets, will not typically attract the maximum pricing, assuming all other aspects of the administration were straightforward. Our lawyers will be happy to have a conversation with you about pricing before we are instructed and to agree a pricing structure which meets the demands and nature of the estate.

Pricing – Limited Service

There will be times where you do not want us to do everything for you and our role is limited to obtaining the Grant of Representation. In these circumstances, we offer our service at the following fixed prices:

1. Obtaining a Grant of Representation where there is no inheritance tax payable and no claim for transferrable nil rate band or transferrable main residence nil rate band: £1,750 + VAT
2. Obtaining a Grant of Representation where there is no inheritance tax but where there is a need to claim the transferrable nil rate band: £1,950 + VAT
3. Obtaining a Grant of Representation where there is inheritance tax payable but where there is no claim for the transferrable nil rate band or transferrable main residence nil rate band: £2,950 + VAT
4. Obtaining a Grant of Representation where there is inheritance tax payable and where there is a claim for the transferrable nil rate band and/or transferrable main residence nil rate band: £3,950 + VAT

Our limited service relies purely on the information you provide. We do not make our own investigations as to values or accuracy. The prices stated above do not include court fees and would not include any additional work required, such as steps required to prove lost or damaged Wills. Our lawyers are able and willing to provide you with a price for any additional work you require.

The following disbursements will be incurred in addition to our fee:

Probate registry fee: £300

Copy Grant of Probate: £1.50 per copy

Bankruptcy searches per beneficiary (England & Wales): £2

Bankruptcy search for any non domicile beneficiary: variable

Where applicable VAT is charged at 20% or the rate set at the time by the UK Government.

Hourly rates

A range of people in the team will work on the administration of the estate, including experienced paralegals and those starting their legal career, through to experienced solicitors with over 10 years experience in the field. Their hourly rates are

Solicitor with over 8 years post qualification experience:  £280 + VAT

Solicitor with over 4 years post qualification experience: £260 + VAT

Newly qualified solicitor/solicitor with up to 4 years experience/Senior Paralegal: £220 + VAT

Paralegal/trainee solicitor/Legal Assistant: £180 + VAT

Timescales

It is very difficult to accurately predict how long the administration of an estate will take as there are so many variables. It can vary from weeks, to months, to even years for the most complex of estates. Our team will always endeavour to progress your file efficiently and keep you informed of progress and likely timescales to conclusion.  We would expect most full administrations to be concluded within 12-18 months.