| NEW WILLS – FIXED FEE | |||||
|---|---|---|---|---|---|
| FEE | VAT (20%) | TOTAL | |||
| Single | £150.00 | £30.00 | £180.00 | ||
| Mirror | £240.00 | £48.00 | £288.00 | ||
| Amendment to Will | £90.00 | £18.00 | £108.00 | ||
| Home Visit (per visit – note: there are ordinarily 2 visits) | £20.00 | £4.00 | £24.00 | ||
| SEVERANCE OF JOINT TENANCY – FIXED FEE | |||||
| FEE | VAT (20%) | TOTAL | |||
| Our Fee | £100.00 | £20.00 | £120.00 + Disbursements | ||
| CODICIL / WILL CHANGE – FIXED FEE | |||||
| FEE | VAT (20%) | TOTAL | |||
| Our Fee | £90.00 | £18.00 | £108.00 | ||
| GRANT OF PROBATE(where an individual has died leaving a will) – FIXED FEE | |||||
| FEE | VAT (20%) | TOTAL | |||
| Our Fee (Standard Probate IHT205)
Our Fee (If we need to do IHT400 & attachments) | £1,000.00 £1,500.00 | £200.00 £300.00 | £1,200.00 + Court Fee £279.00 TOTAL – £1,479.00 £1,800.00 + Court Fee £279.00 TOTAL – £2,079.00 | ||
| LETTERS OF ADMINISTRATION (where an individual dies intestate (without leaving a will) – FIXED FEE | |||||
| FEE | VAT (20%) | TOTAL | |||
| Our Fee (Standard Probate IHT205)
Our Fee (If we need to do IHT400 & attachments) | £1,000.00 £1,500.00 | £200.00 £300.00 | £1,200.00 + Court Fee £279.00 TOTAL – £1,479.00 £1,800.00 + Court Fee £279.00 TOTAL – £2,079.00 | ||
| LASTING POWER OF ATTORNEY – FIXED FEE | |||||
| FEE | VAT (20%) | TOTAL | |||
| Our Fee Registration Fee | £500.00 £82.00 | £100.00 | £682.00 | ||
| NOTE: This is the price for each 1 (property & affairs) and 2 (health & welfare). The cost for an individual to have both 1 & 2 is as follows: – | |||||
| Our Fee Registration Fee (2 x single registration fee) | £750.00 £164.00 | £150.00 | £1,064.00 | ||
| A couple requiring either 1 or 2 is as follows: – | |||||
| Our Fee Registration Fee (2 x single registration fee) | £750.00 £164.00 | £150.00 | £1,064.00 | ||
| A couple requiring both 1 and 2 is as follows: – | |||||
| Our Fee Registration Fees | £1,400.00 £328.00 | £280.00 | £2,008.00 | ||
| ADMINISTRATION OF ESTATES – HOURLY RATE | |||||
| The cost of the administration of an estate are borne by the Estate and are taken from Estate proceeds once agreed prior to the distribution to the beneficiaries. When administering the estate, the costs will be based on the hourly rates as set out below. It is very difficult to estimate exactly how much the administration will cost as it depends upon the size and complexity of the assets and liabilities involved. Naturally we will keep you appraised at all times, it is usual practice at this firm for an interim costs payment to be made once we have obtained a Grant of Representation, the final costs payment is made on conclusion of the administration prior to the final distribution. There are 3 parts which form the basis of our costs. The first charge is the hourly rate as detailed below: – Rate A Partner – £261.00 per hour Plus VAT (20%) Rate B – Associate Solicitor/ Fellow of the Institute of Legal Executives – £218.00 per hour Plus VAT (20%) Rate C – Trainee Solicitor/Paralegals – £111.00 per hour Plus VAT (20%) The second charge is 1% of the net Probate value plus VAT (20%). The third charge (if required) is the fee for the Grant of Representation – £1,000 Plus VAT (20%) – Not all Estates require a Grant of Representation, and this third fee would only be charged if a Grant is required. | |||||
Please note that unless otherwise advised:
- All fees as stated are estimates, and are plus VAT (20%) and disbursements.
- All fees include postage and telephone calls.
The average estate will take between 17 and 20 hours work at £261.00 per hour plus VAT. Therefore, the total costs can be estimated at £4,500.00 to £5,000.00 plus VAT.
The above is an estimate based on most of our files the exact cost will depend on the individual circumstances of the 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, shares the costs will be at the higher end if not exceeding the above.
If we are instructed to deal with the Administration of the Estate will handle the full process for you.
This quote is for estates where:
- There is a valid will.
- There is no more than one property.
- There are no more than 3 bank or building society accounts.
- There are no other intangible assets.
- There are no more than 3 beneficiaries.
- There are no disputes between beneficiaries on division of assets. If disputes arise this is likely to lead to an increase in 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.
Disbursements that may be charged in addition to the above fee:
- Probate application fee of £279.00 (Current Rate)
- Swearing of the oath Usually £5-£7 (per executor)
- Bankruptcy- only Land Charges Department searches (£2 per beneficiary)
- Post in The London Gazette Currently £95.50 including Vat @ 20% – Protects against unexpected claims from unknown creditors.
- Post in a Local Newspaper (to be advised depending on location) – This also helps to protect against unexpected claims.
Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Potential additional costs
- If there is no will or the estate consists of any share holdings (stocks and bonds) there is likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with. We can give you a more accurate quote once we have more information.
- If any additional copies of the grant are required, they will cost usually cost around £1.00 per extra copy, we as a general course of business always request 5 and that cost is included in the fee listed above.
- Dealing with the sale or transfer of any property in the estate is not included. Please see our Conveyancing Page.
How long will this take?
On average, estates that fall within this range are dealt with usually within 12 months. Typically, obtaining the grant of probate takes about 6 weeks. Collecting assets then follows, which can take between 4 – 20 weeks or more depending on the types of assets. Once this has been done, we can complete a final estate account and if approved, distribute the assets, which all normally occurs within 12 months.
Who will be conducting the work?
Thomas Chambers a Solicitor who qualified in 2011 and has been specialising in Wills and probate matters since 2009 will be the person conducting your matter and has overall supervision of the department, in his absence work will be conducted by Susan Fulford a qualified solicitor with many years’ experience or another member of the team to avoid delay.
Key Stages of Estate Administration – Charged at an Hourly Rate as Set Out Above.
- Take Initial Instructions from the client.
- Review Will if applicable
- Obtain Valuations of all assets and liabilities.
- Obtain clearance from HMRC & DWP.
- Apply for Probate/Letters of Administration.
- Administer the Estate to include Closure of Account/ Sale of Properties.
- Settle all liabilities.
- Account to the Executors in respect Income and Liabilities.
- Distribute Estate Funds.
WILLS
Key Stages of Will Drafting Instructions – Included within the Fixed Fee
- Taking clients instructions and providing advice.
- Drafting of Will and Memorandum of Wishes if required.
- Providing the Draft to Client for Perusal.
- Amendments/ Redrafting following client’s perusal.
- Execution and Witnessing of the Will.
- Either sending original bound Will to clients or retaining the original in our safe storage – Included in Fixed Fee.
Who will be conducting the work?
Thomas Chambers a Solicitor who qualified in 2011 and has been specialising in Wills and probate matters since 2009 will be the person conducting your matter and has overall supervision of the department, in his absence work will be conducted by Susan Fulford a qualified solicitor with many years’ experience or another member of the team to avoid delay.
How long will this take?
After receiving initial instructions, we aim to provide the draft to our client within 10 days, upon which time the client will contact us to make a mutually convenient appointment to execute the original, there is no reason why this cant all be concluded within a maximum timeframe of 2-3 weeks. If an emergency Will is required subject to availability, we can at times complete this process with 24 hours.
LASTING POWER OF ATTORNEY
Key Stages of Lasting Power of Attorney Instructions – Included within the Fixed Fee
- Taking clients instructions and providing advice.
- Drafting of Lasting Power of Attorney Documents.
- Providing the Draft to Client for Perusal.
- Amendments/ Redrafting following client’s perusal.
- Execution and Witnessing of the said documents to include us acting as your certificate Provider.
- Sending the Original Documents for Registration.
- Providing the relevant notifications to those names withing your Lasting Power of Attorney.
- Liaising with the Office of The Public Guardian.
- Sending the Original and 2 Certified Copies out to the client upon completion of registration.
Who will be conducting the work?
Thomas Chambers a Solicitor who qualified in 2011 and has been specialising in Wills and probate matters since 2009 will be the person conducting your matter and has overall supervision of the department, in his absence work will be conducted by Susan Fulford a qualified solicitor with many years’ experience or another member of the team to avoid delay.
How long will this take?
After receiving initial instructions, we aim to provide the draft to our client within 10 days, upon which time the client will contact us to make a mutually convenient appointment to execute the documents, there is no reason why this can’t all be concluded within a maximum timeframe of 2-3 weeks. Once that is complete, we provide the original documents to the Office of the Public Guardian for registration, this process is out of our control and in recent times can take between 8-16 weeks.