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 at such a difficult time and assistance on guidance through the process a great relief.

Here at Harfitts our experienced team can provide initial, 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 Fees

Fees relating to Probate matters are variable dependant upon the complexity of the Estate.

Harfitts costs are calculated based upon an hourly rate (and mark up) plus a percentage of the gross value of the Estate to reflect the onerous responsibilities involved in us acting in the matter.  The value element usually varies between 0.5% and 1.5% depending on whether or not we act as an Executor or Joint Executor and the type of assets we are dealing with.  For instance, the deceased’s share in their home attracts a value element of 0.5% (or 0.75% if we act as Executor) and the remaining Estate 1% (or 1.5% if we act as Executor)

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
  • Any liability or otherwise for Inheritance Tax
  • Number of beneficiaries and their whereabouts
  • 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:-

  • Fee incurred in applying for Grant of Probate                 £155.00
  • Valuation fee for any property or other asset                  Dependant on the size of property                                                                                                                      
  • Bankruptcy searches (for each beneficiary)                    £2.00 (UK residence)
  • Statutory Notices in the Local Newspaper and
  • London Gazette if applicable                                           Approx £250.00 

 

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 Will Trust

Type of Work Involved

  • Appointing a dedicated and experienced Probate practitioner who will work on your matter
  • 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

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