Administration of Estates

Our fee structure in this area of work is based upon the hourly rate charged by our experienced Wills & Probate Solicitor. The hourly rates of our solicitors are determined by the level of their experience. The hourly rate is £285.00 per hour + Vat at 20% of £57.00 per hour.

Please note that our professional fees are subject to VAT at the rate of 20%. Some disbursements may also attract VAT at the rate of 20%, our Solicitors will be happy to advise you in this regard.

Cases can vary from the less complex, requiring less hours of work by the solicitor, to more complex that require more hours being spent by the solicitor.

Low Complexity Cases – An example of a low complexity case would be where there is no property to be dealt with, very few beneficiaries and very few bank / building society accounts to deal with.

Our Solicitor’s fees for this type of case are likely to be in the range of £2,000.00 + VAT at 20% of £400.00 to £3,500.00 +VAT at 20% of £700.00

Moderately Complex Cases – An example of a moderately complex case would be an estate with property, several beneficiaries, several bank / building society accounts, some shares issues, an element of Inheritance Tax advice necessary.

Our Solicitor’s Fees for this type of case are likely to be in the range of £4,000.00 + VAT at 20% of £800.00 – £8,000.00 + VAT at 20% of £1600.00.

Highly Complex Cases – An example of a highly complex case would be one where the estate has some liabilities, There are a large number of beneficiaries some of whom are missing, there are complex Inheritance Tax and other Tax issues, There are more than one property, there are foreign assets, there may be a defect in the Will, the will may be contested.

Our Solicitor’s Fees for this type of case are likely to be in the range of £10,000.00 + VAT at 20% of £2,000.00 – £25,000.00 + VAT at 20% of £5,000.00.

• Cases that involve multiple beneficiaries.
• Cases where the deceased had multiple bank / savings accounts.
• An estate that includes one or more properties.
• Where the deceased died without making a will (intestate).
• Where beneficiaries need to be traced.
• If the terms of the will are disputed by either beneficiaries or executors.
• If there is a requirement for tax planning advice – typically this means a referral to an accountant which will incur additional costs.

• Estates where there are a small number of beneficiaries.
• Estates where there are no properties.
• Estates where there is a will and it is valid.
• Cases where the deceased had a small number of bank accounts /savings accounts.
• Cases that require no tax planning advice.
• Cases where the terms of the will are undisputed.

In this example the following assumptions have been made;

• There is a valid will
• There is no more than one property
• There are no more than 4 bank or building society accounts
• There are no other intangible assets
• There are 2-4 beneficiaries
• There are no disputes between beneficiaries (where there to be disputes the costs would likely increase)
• No Inheritance Tax is payable and the executors do not need to submit a full account to HMRC.
• No claims have been made against the estate.

In applying for the Grant of Probate, advising on the terms of the Will, assets of the estate etc, the collection and distribution of the assets of the estate in accordance with the Will the total costs are likely to be as follows;

• Hours of work – 10 hours at £285.00 per hour + VAT at 20% of £57.00 per hour
• Solicitors Costs – £2,850 + VAT at 20% of £570.00 = TOTAL £3,420.00

In addition the following payments to third parties (disbursements) will have to be made;

• Probate Application Fee – £273 + £1.50 for each Office Copy.
• Swearing of the Oath – £5.00 per person + £2.00 per exhibit per person.
• Bankruptcy Search – £2.00 per person.

We will handle the payments of the disbursements for you but they are not included in the solicitors fee.

Where the sale or transfer falls to be dealt with as part of the administration of the estate the professional solicitor fees and disbursements related to this are not included in the solicitors fees for dealing with the administration of the estate.

The categories of work that will be undertaken in the administration of an estate do vary depending on a number of factors. Typically the areas of work that will be undertaken by the solicitor are as follows;

• The solicitor will meet with you in person in order to give you initial advice in respect of the terms of the deceased persons will and where applicable advise as to the duties / powers of executors or personal representatives.
• We will deal with the many practical matters that arise upon death such as ensuring the property is secure and insured, registration of the death if required and any other matters of urgency that arise.
• We will collect the assets of the estate including balances in bank accounts, building society accounts, share certificates etc. In addition we will provide a valuation of the estate including properties and any liabilities.
• We will settle all of the liabilities of the estate.
• We will advise you fully on your liabilities for Inheritance Tax or Capital Gains Tax
• We will advise you as to the type of Probate application you will need.
• We will obtain and complete all of the required documents to complete the application for Probate.
• We will draft a legal oath for you to swear (where applicable).
• We will apply for the Grant of Probate or Letters of Administration (where there is no will). Once granted we will send 2 copies of the Grant of Probate to you securely.
• We will collect all of the assets of the estate and prepare estate accounts to include any liabilities of the estate.
• We will distribute all of the assets of the estate.
• We will communicate with beneficiaries of the estate throughout the administration process.

In addition to the solicitors fees there are payments that have to be made to third parties called disbursements. Examples of some of these typical disbursements is detailed in the costs example above.

There are other factors that can lead to increased costs, these can range significantly depending on the factors involved.

In all cases we will be able to give you a clear costs estimate in terms of the likely time to be spent by the solicitor on the administration of your estate when we have all of the relevant information. This will include the potential for additional costs.

Where disbursements payable to third parties are subject to VAT at the rate of 20% we will advise you of the costs involved.

Whilst we will endeavour to deal with the administration of your estate as quickly and efficiently as possible there are a number of factors that can effect the timescale of when these cases are resolved.

A simple estate such as the one illustrated in the costs example, requiring around 10 hours of the solicitors time, could expect the following timescale;

From your first meeting with the solicitor to the full distribution of the estate 12 weeks – 14 weeks.

The Grant of Probate can take up to 8 weeks.

The collection of assets between 4-6 weeks.

The distribution of assets between 2-4 weeks.

In the case of a Moderately Complex Estate we would endeavour to complete all of the work required to wind up the estate within 12 months of the Grant of Representation.

In the case of a Highly Complex Estate we would endeavour to complete all of the work required to wind up the estate within 24 months of the Grant of Representation.