Applying for the grant of probate, collecting and distributing the assets
We estimate total costs of between £2,500-£5,000 plus VAT and disbursements where there is no inheritance tax payable and the executors do not need to submit a full account to HMRC. Where IHT is payable and accounts are required we estimate total costs of between £5,000-£10,000 plus VAT and disbursements.
All legal work is carried out or supervised by qualified solicitors with many years’ probate experience.
The exact cost will depend on the individual circumstances of the matter and an individual cost estimate is provided at the start of every transaction which takes into account the particular circumstances of the transaction.
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.
This quote is for estates where:
- There is a valid Will
- There is no more than one property
- There are no more than 3 bank or building society accounts
- There are no other intangible assets• There are no more than 3 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 are no claims made against the estate
Disbursements to be paid in addition to the above fees:
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.
Probate application fee of £155 (no fee if estate less than £5,000. Extra copies of the probate are 50p. These fees are expected to rise significantly in the future under government proposals.
£5 Swearing of the oath (per executor) plus £2 per exhibit (such as a will).
Bankruptcy-only Land Charges Department searches (£1 per beneficiary).
£62.15 + VAT Post in The London Gazette – Protects against unexpected claims from unknown creditors.
£185.00 + VAT Post in a Local Newspaper – This also helps to protect against unexpected claims.
Potential additional costs
If there is no will or the estate consists of any share holdings (stocks and bonds) there are 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.
How long will this take?
On average, estates that fall within this range are dealt with within 12 months. Typically, obtaining the grant of probate takes 3 weeks. Collecting assets then follows, which can take up to 8 weeks. Once this has been done, we can finalize IHT and distribute the assets, which normally takes 3 weeks.