Our firm adopts a transparent and fair charging fee structure. We also endeavour to be competitive with market rates. There are two ways in which we charge for our services, either an hourly rate or on a fixed fee basis. If you opt to proceed on an hourly basis, our fees are based on the hourly rates of, and time spent by a solicitor and / or support staff on the matter.
Administration of Estates
Work in relation to administration of estates and applying for a probate is undertaken by Christina Spencer, solicitor. Christina’s charging rate is £250 per hour plus VAT whereas those assisting her, such as a trainee solicitor and/or paralegal charge £150 per hour plus VAT.
Where we are instructed to deal with the administration of an estate (which includes liaising with institutions to obtain the correct information to apply for probate, and collection and distribution of assets of the estate), we anticipate our fees will be £5,000 to £6,750 (excluding VAT). This is based on the administration of the estate taking 25 to 35 hours which is generally where the following applies;
The exact cost will depend on the individual circumstances of the matter. For example if there is only one beneficiary and limited assets, the costs will be towards the lower end of the scale. Whereas if there are a large number of beneficiaries and lots of additional assets, the cost is likely to be higher.
Please note our fees do not include any fees for the sale of any property.
In some circumstances, we are able to deal with the preparation of the application of a grant of probate only. In such cases we anticipate our fees will be £675 to £1,350 (excluding VAT). This is based on the application of a grant of probate taking 3 to 6 hours to complete, where the Executor is able to provide us with the assets and liabilities of the estate and where the estate is not a taxable estate.
Disbursements are costs relating to your matter that are payable to third parties, such as probate fees.
Disbursements likely to be incurred are as followed:
|Value of estate (before inheritance tax)||Proposed
|Up to £50,000 or exempt from requiring a grant of probate||£0|
|Exceeds £50,000 but does not exceed £300,000||£250|
|Exceeds £300,000 but does not exceed £500,000||£750|
|Exceeds £500,000 but does not exceed £1m||£2,500|
|Exceeds £1m but does not exceed £1.6m||£4,000|
|Exceeds £1.6m but does not exceed £2m||£5,000|
|In excess of £2m||£6,000|
On average, estates are generally dealt with within 5 to 8 months. Obtaining the information to lead to the grant takes 6 to 8 weeks, and obtaining the grant of probate takes 2 to 3 weeks. Collecting assets following grant of probate can take between 4 to 8 weeks. Once this has been completed, we can distribute the assets, which normally takes 2 to 4weeks. Collection and distribution may take longer where assets, such as property, are to be sold.
If your estate is a fairly complex estate, for example the assets of the estate included a number pf properties or share holdings and is is liable to inheritance tax, we will be very pleased to discuss with you, without obligation, the work that will be required in dealing with the estate and provide a fee estimate.