- Advise you as to the procedure involved to obtain the Grant and administer the estate;
- Arrange the valuations and obtain the information necessary to apply for the Grant;
- Notify beneficiaries and legatees;
- Arrange house clearance;
- Arrange compliance with insurers’ requirements eg. property inspection, drainage of water systems;
- Prepare the Oath, Return of Estate Information Form or Inheritance Tax Account and Schedules, and send to you for your approval;
- Arrange any Deed of Renunciation and Affidavits and obtain copies of any death and marriage certificates in support of the Grant application;
- Calculate and arrange payment of Inheritance Tax;
- Arrange for you to swear the Oath at our offices, with an independent commissioner, or send it to you to make your own arrangements;
- Submit the Inheritance Tax Account to HMRC; and when the receipt is issued, submit the Grant application;
- Arrange sale of property and liaise with agents as to marketing and sale price – our real estate team can also deal with the conveyancing on sale;
- Encash assets and receive the proceeds into our client account;
- Pay liabilities;
- Place Trustee Act Notices notifying creditors of the timescale for claims;
- Deal with any claims made by DWP;
- Deal with any enquiry by HMRC into the Inheritance Tax Account;
- Arrange completion of income tax returns up to the date of death;
- Calculate and pay income tax for the administration period including registration of the estate with the Trusts Registration Service;
- Appropriate assets to mitigate Capital Gains Tax on encashment;
- Deal with any trusts of insurance policies or investment bonds created by the deceased eg, taxation and registration with Trusts Registration Service, deeds of appointment and assignment;
- Obtain Inheritance Tax clearance;
- Hold the estate until the period for claims under the Inheritance (Provision for Family and Dependants) Act 1975 has expired;
- Prepare estate accounts showing all receipts and payments and the distribution of the estate;
- Distribute the estate in accordance with the Will (our real estate team will deal with the transfer of property and additional fees apply);
- Set up any trusts under the Will.
- The above list is not exhaustive; we can also deal with disputes and claims against the estate, and more unusual matters such as royalties, rental property, arranging resealing of the Grant in foreign jurisdictions, etc.
Most Bespoke Probate Services will fall within a range of fees between £6000 and £15,000 + VAT depending on the work required, although in complex cases fees may be higher – in all cases an estimate will be provided based on your individual circumstances. Fee estimates are based on the time we would expect to spend, at the hourly charging rates of the practitioners working on your matter, which range between £175 and £225 per hour plus VAT.
Disbursements (payments we make on your behalf)
Probate Registry fee £ 157*
Commissioners fee £ 7**
LC bankruptcy Searches £ 2 per name (UK only; foreign bankruptcy searches tbc)
Trustee Act Notices (est.) £ 250
Landmark Asset search £ 162 (if required)
In addition there may be valuers fees; registrars fees for issue of replacement share certificate or dividends; and other professional fees charged by third parties instructed during the estate which will be agreed with you in advance.
* includes 4 copies of the Grant; add 50p for each additional copy required – please note the Government has proposed increasing the Probate Registry fees from April 2018
** for each executor, with Will and no codicil– add £2 per executor for each codicil
On average, estates that fall within this range are dealt with within 6-24 months. Typically, obtaining the Grant takes 3 months. Collecting assets then follows, which can take between 1-2 months (if a property needs to be sold this can obviously take much longer). Once this has been done, we can distribute the assets, which normally takes 2-4 weeks. If you instruct us to delay distribution of the estate until expiry of the period for claims under the Inheritance (Provision for Family and Dependants) Act 1975 the estate administration will usually be completed within 12 months from receipt of signed Client Care documents.
All estimated costs and disbursements set out in these pages are correct at 6 December 2019.