Probate

How much will it cost?

Probate On a fixed fee basis 

In a straightforward probate case we are able to act on a fixed fee basis. This type of case typically involves low value estates under £250,000, where there is no inheritance tax liability, the case involves 1 to 4 bank accounts, and up to 4 beneficiaries.

Our typical fee would be between £1,500.00 plus VAT at 20% (£300.00) and £3,000.00 plus VAT at 20% (£600.00) so between £1,800.00 and £3,600.00. 

The exact cost will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property, costs will be at the lower end of the range. If there are multiple beneficiaries, a property and multiple bank accounts, costs will be at the higher end.

Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. Disbursements are quoted inclusive of VAT if applicable.

Disbursements include but are not limited to:

• Probate application fee of £300.00
• Bankruptcy-only Land Charges Department searches (£3.00 per beneficiary)
• £150.00 Post in The London Gazette – Protects against unexpected claims from unknown creditors.
• £150.00 Post in a Local Newspaper – This also helps to protect against unexpected claims.

We will handle the full process for you. These typical fees  are for estates where:

• There is a valid will
• There is no more than one property
• There are no more than 4 bank or building society accounts
• There are no other intangible assets
• There are no more than 4 beneficiaries
• There are no disputes between beneficiaries on division of assets. If disputes arise this is likely to lead to an increase in costs
• There is no inheritance tax payable and the executors do not need to submit a full account to HMRC
• There are no claims made against the estate

Potential additional costs:

• If there is no will or the estate consists of any share holdings (stocks and bonds) there is likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with. We can give you a more accurate quote once we have more information.
• Dealing with the sale or transfer of any property in the estate is not included.  Please refer to our freehold residential sales page

If a fixed fee basis is not appropriate

If your case is not suitable for a fixed fee, we will be able to provide a cost estimate on the details you supply to us.  Our charge out rate would be £300.00 plus VAT at 20% per hour (£360.00). 

All probate matters at Wise Solicitors are handled by Simon Wise, Solicitor.  Simon qualified as a Solicitor in 2003.

 

How long will this take?

On average, estates that fall within this range are dealt with within 9 to 12 months. Typically, obtaining the grant of probate takes 2 to 3 months. Collecting assets then follows, which can take between 6 to 8 months. Once this has been done, we can distribute the assets, which normally takes 1 to 2 months.