Applying for the grant, collecting and distributing the assets
We anticipate that this will usually take between 10 and 20 hours of work at £240 per hour plus VAT. Total costs estimated at £2400 plus VAT-£4800 plus VAT.
The exact cost will depend on the individual circumstances of the matter. For example if there is only one beneficiary no property, costs will be at the lower end of the range. If there are multiple beneficiaries, property and multiple bank account, costs will be at the higher end. These charges are applicable to those cases where there is no dispute and all the assets of the estate are held within the UK.
This estimate is based upon us handling the full process for you. This estimate of costs is where:
- There is a valid will
- There is no more than one property
- There are no more than 5 bank or building society accounts
- There are no other intangible assets
- There are no more than 3 beneficiaries
- There is no dispute between beneficiaries on division of assets. If disputes arise this is likely to read to an increasing costs
- There is no inheritance tax payable and the executors do not need to submit a full account to HMRC
- There are no claims made against the estate
These are payments to 3rd parties and are in addition to costs set out above and consist of:
- Probate application fee £155
- Bankruptcy-only land charges Department searches (£3 per beneficiary)
- Post in the London Gazette and local press protecting against unexpected claims from unknown creditors £174 although these can vary depending upon the charges of the local press.
Bills are usually paid by the estate and are issued and payable upon obtaining Grant of Probate and final winding up of the estate. On average estates that fall within this range are dealt with within 6 -12 months. Typically obtaining the Grant of Probate takes 8 -12 weeks. Collecting assets then follows which can take between 12 – 32 weeks depending upon the time it takes to sell any property. Once this has been done, we can distribute the assets which usually takes 4 – 6 weeks but can take longer. We have acted on behalf of simple estates to complex estates with assets around the world. For more information or to book a free no-obligation appointment with one of our probate experts contact us today.