The loss of a loved one is an extremely difficult time. At Jackson Quinn we are here to help you through the process of dealing with their affairs. The exact costs of applying for a Grant of Probate and then administering the estate after obtaining the Grant will vary depending upon the individual circumstances of each matter.
Lucy Camm, a Partner based at our Worksop Office, is our expert in dealing with probate matters, and when you meet with Lucy she will be able to identify with you the type of probate application you require and the likely costs involved. Costs will be calculated at hourly charging rates which vary from time to time but are currently £175.00 per hour plus 20% VAT.
Applying for a Grant of Probate
For obtaining a Grant of Probate in a straight forward estate, our fees can range from £750.00 plus 20% VAT (£900.00) to £1250.00 plus 20% VAT (£1,500.00). These estimated costs are on the basis that there is no inheritance tax payable and the executors do not need to submit a full account to HMRC. Complicating features which can increase the anticipated costs detailed above include:
- Where there is no valid will;
- Where you are unable to provide details of all of the assets in the estate as at the date of death;
- Where more information is required;
- Where there are potential claims against the estate.
Disbursements are costs we have to pay out to third parties on behalf of the estate. These will include the Probate Court fee of £215.00
Administering an estate can be complex, and requires identifying all of the assets and paying inheritance tax, where necessary. Our costs for administering the estate will therefore vary depending upon the complexity of the matter. Factors that can affect our costs can include the number of beneficiaries, where the assets are held, whether there is a property to be sold, the number of bank accounts, and if there are any disputes about the division of assets.
For administering a straight forward estate our fees can again range from £750.00 plus 20% VAT (£900.00) to £1250.00 plus 20% VAT (£1,500.00), but these charges will increase depending upon the complexity of the estate and the issues involved. Our costs will include collecting in all of the assets, paying debts, taxes and administration expenses, producing estate accounts and accounting to the beneficiaries. We will meet with you at the outset to obtain all relevant information and provide you with an estimate tailored to the circumstances of the estate. If it appears this estimate is going to change as the matter progresses we will let you know at the earliest opportunity.
Work that is not included in the charges detailed above.
At Jackson Quinn we do not do work in contentious probate cases, where a claim is being made against the estate.
If the value of the estate is such that Inheritance Tax was payable, then our costs will be higher that that detailed above due to the amount of work required to administer the estate.