Obtaining a Grant
If when a loved one dies you would like us to help deal with their estate we will help
Click here to see exactly what is involved.
If you wish us to take all the steps shown to obtain a Grant we would estimate the time frames would typically take 3 months but this will depend on the complexity of the Estate so may take less or more time.
Our fees are fixed and dependant on the size of the Estate and are set out below:
|Estate less than single personal Inheritance Tax Allowance (currently £325,000)||£3,000 inc. of VAT|
|Estate greater than a single Personal Inheritance tax allowance but no tax is payable (currently £325,001 up to £900,000)||£4,200 inc. of VAT|
|Inheritance tax is payable||£6,000 inc. of VAT|
We do not charge a percentage of the Estate (“value element”) on top
We do not charge extra if we have been appointed as executors
The following table shows a list of standard disbursements, which we will incur as part of the process to obtain a Grant. These costs are generally met by us in the first instance to avoid delay in the process but will be recouped from the Estate as soon as funds are available.
|Probate fee||£155 – To increase significantly in April 2019*|
|Copy Grants of Probate||£0.50 each|
|Oath fee per executor||£7|
|Share valuation fee||£60|
|Bankruptcy search per beneficiary||£3|
|London Gazette to protect against unexpected claims||£62.15|
|Local newspaper advert to protect against unknown claims (dependant on newspaper)||£50 approximately|
We will only vary these fees in certain circumstances:
If the Estate is very small or you wish to undertake the investigative work yourself our fees are reduced accordingly and will depend on the amount of time actually spent on the matter; we currently charge £220 plus VAT of £44 per hour.
So, for example
If you wished us to prepare the relevant IHT return based on information you have provided us with and the appropriate Oath the legal fees would around £750 – £1000 plus VAT
If, however the Estate is very complex because for example it involves foreign elements or trusts we may have to charge additional fees, based on the extra time involved based on our standard hourly rate, as illustrated above.
Administering the Estate
Once a Grant has been obtained we will realise the Estate, and distribute it either in accordance with the Will or the Rules of Intestacy if no Will has been found. This process will typically take 2 – 3 months, providing no property needs to be sold which can take longer. Once we have realised all the assets we will prepare an Estate Account showing what assets were part of the Estate, their valuation at death, their realised valued and then how the Estate is distributed. This will typically take 3 – 4 weeks to finalise.
Our standard fees are again fixed and are based on the number of beneficiaries as set out in the table below. With a small estate and a sole beneficiary we may review our fees and reduce them accordingly.
|sole beneficiary||£1,800 inc. of VAT|
|Less than 5 beneficiaries||£3,600 inc. of VAT|
More than 5 beneficiaries
|£5,400 inc. of VAT|
Work that would not normally be included:
We would charge extra for the following:
|Deed of Variation||£540 inc. of VAT|
|Deed of Family Arrangement||£540 inc. of VAT|
|Ascent of property||£300 inc. of VAT|
Who will do the work
Yvonne Cordwell will primarily undertake the work assisted by her trainee Chris Cossey.
Please note that the proposed fee increase has not yet been confirmed and we await notification.