Under SRA rules, Solicitors are required to publish information regarding their fees and services in relation to the administration of a deceased person’s estate (also referred to as “probate”). We are required to publish information regarding our fees and services in relation to uncontested probate cases where all of the assets are in the UK.
Our fees will be based on the time expended on the administration, as outlined in the accompanying terms and conditions leaflet. There may also be expenditure we incur directly on your behalf (disbursements).
(a) Our fees
The exact cost and timescales will depend upon the individual circumstances of each 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 and timescales will be at the higher end of the range.
Thus our hourly rate is currently under the maximum £235.00 solicitors of our experience could charge. Our hourly rate is subject to annual review. VAT also does not apply to our fees
The above costs estimates are based on the assumption that we carry out all work in the estate administration.
If we incurred difficulties which could impact the estimates, then we would notify you at that stage.
(b) Relevant Factors
These estimates are for estates where:
(c) Value Element
The Law Society permits solicitors to charge a value element on probate matters. The value element is payable in addition to fees, relevant VAT and disbursements.
The amount of the value element is set by the Law Society and is:
0.5% of the value of the home plus 1% of the value of any remaining estate. The value element tends to increase overall costs considerably.
We do not always charge the value element. In making a decision, we will consider the circumstances of each case and make an assessment of risk. For examples of relevant factors taken into consideration, please see above.
In addition to our fees, disbursements may also be payable and those relevant could be the following:-
Oath settling fee: £10.00
Probate Registry fees: £155.00 (plus 0.50p per copy)
Oath fees: £7.00 per Executor
Statutory Notices fee: £190.00 (approximately)
Property Valuation fee: £240.00 (if required)
Household Contents valuation fee: Varies (if required – usually for taxable estates)
Compulsory bankruptcy fees £2.00 per person named in a Will
HMLR title information £4.00-7.00.
(e) Our Services
We will always agree the services included in our estimated fee and confirm this (in writing) at the outset. However, we have set out below some of the services that are included within the estimates:-
You may require additional services that are not included in the estimated fee, for example:-
If you require any services not included in the estimated fee, we will always discuss this with you, provide you with a further estimate and / or refer you to someone who can help.
(f) How long will your matter take?
This will depend on a number of factors, such as whether there is a valid Will, the value, number and nature of the assets in the estate and whether inheritance tax is payable. On average, estates that are not subject to inheritance tax are concluded within 3 to 12 months. Typically, obtaining the grant of representation takes between 6 to 12 weeks. Collecting assets takes between 2 to 4 weeks (if there is no house or other land or property). Distributing the estate takes between 1 week to 8 months (depending upon the Personal Representatives’ instructions regarding waiting a full 10 months post the date of the Grant of Representation).