For Wills and Probate, we can assist you with the whole range of topics

We suggest an initial consultation at £350 plus VAT without retainer to advise you on your estate. Laurence Wilson deals with all probate cases and would be happy to see you to advise. Please call her on 01865 874497.

Overall costs vary on the amount of work and complexity an estate can cost as little as £1,500 plus VAT at 20% per cent (or such other rate of VAT that is imposed by HM revenue and customs) and probate fees charged by the probate registry for estates over £5,000. For up-to-date charges by the probate registry the current fee is £1.50 but that is subject to change, and we suggest you go on the internet and search apply for probate GOV.UK

The costs can range on the value of the estate and overall work required.

Because no two estates are the same, we do not have a standard price for estate administration. Our charges are based on the amount of time spent conducting the work you require at the hourly rate of the Solicitor dealing with your case. Please read through the example cases below. These will give you an indication of the range of costs we would expect to charge for that work together with an average price and the VAT to be added currently at the rate of 20%.

These examples all reflect the full Administration of an Estate which is not contested or subject to any litigation.

Note – The example cases do not include disbursements, the prices for disbursements and fees should be added to the total depending on the disbursements/fees applicable to your case.

Straightforward Estate – e.g., all assets to a surviving spouse or to children (£1,500 – £3,500 plus VAT at 20% plus probate fees). No Inheritance Tax issues, no complex assets

Straightforward estate with some complicating issues (£2,500 – £6,500 plus VAT at 20% plus probate fees)

Estate as above but with complicating factors – e.g.,Investigation of unknown or unusual assets / Property management/missing will/tracing of family members

Medium Complexity – e.g., estate exceeds £325,000 / Inheritance Tax payable/will create a trust (£3,750 – £6,500 plus VAT at 20% plus probate fees.)

Medium Complexity with Some Complicating Issues – e.g., large number of assets / high value assets / shared portfolio (£5,500 – £18,500 plus 20% VAT plus probate fees)

Complex Estate – e.g., estate exceeds £650,000 / business assets / high value assets / Inheritance Tax negotiation with HMRC or other tax issues £15,000 and upwards plus 20% VAT plus probate fees.

 

Probate fees do not currently attract VAT. Price will be determined based on time spent (Laurence Wilson’s hourly rates are £350 plus VAT)

 

We do not give specialist tax advice, and where we consider it necessary there may be costs for accountancy and or barrister advice to obtain a second opinion . This service is not included in the estimates given and will be in addition. Further and additional costs include agents fees, tracing fees, advertising estate, dealing with notices, office copies, and dealing with property sales and purchases.

 

Key Stages in Probate

Obtaining Probate and/or Grant of Letters of Administration. The timescale for Probate and obtaining Letters of Administration

Stage 1) Obtaining All The Financial Information

It can sometimes take several months to obtain all the relevant information depending on the complexity and availability of information. Information requested from third party can sometimes delay matters.

 

Stage 2) Preparing & Submitting The Application To The Probate Registry

The application for the Grant of Probate or Letters of Administration is prepared and submitted within 4 to 6 weeks of us having received all the required information.

Once the Application to the Probate Registry is submitted, it can take around 3 months for the application to be processed.

In matters where inheritance tax is payable, delays can be longer whilst clarification from HMRC is received as to the Estate’s liability.

 

Stage 3: Gathering All The Assets & Income Of The Estate

Once stage 2 is completed, funds are collected. It can take up several weeks to receive all the funds depending on the specific formalities of the third parties holding the funds. It a property needs to be sold, the delay is even longer and will depend on the housing market conditions.

 

Stage 4) Distribution Of The Estate

Once all the funds have been collected, the distribution can be made. This stage should not take more a couple of weeks upon receipt and verification of identity and bank details.

 

 

Wills

Wills basic fee £550 to £650 plus VAT currently at 20% additional charges may be made if your instructions change after initial instructions

For more complex wills dealing with trusts £350 to £400 per hour plus VAT at 20%.

Inheritance Act Claims

These are complex and need skill and care. The limitation period for such claims is that a claim must be issued within 6 months from the date of the grant of representation. Time limits are strict. This area of law is complex, and we cannot illustrate with accuracy every permutation or key stage. We may in certain circumstances take an opinion from an accountant or barrister where we advise it is necessary and you will be required to pay their fees.

Disclaimer: We are not tax experts, and you must seek all tax advice from your accountant before you execute and approve your will.

Howard J. Wilson’s charge out rate is £320 to £350 plus VAT currently at 20% per hour depending on complexity.

A more detailed estimate can be given at the initial consultation.