We will deal with the estate and make an application for a Grant of Probate which would empower you to act on behalf of and deal with the estate. This application is made to the relevant District Probate Registry. A tax return is required to be submitted to Her Majesty’s Revenue and Custom in respect of the estate whether tax, such as Inheritance Tax is payable or not. Based on the information we receive we will be able to anticipate whether there will be an Inheritance Tax bill to pay on the value of the estate which is currently at a rate of 40%.
Once the total value of the estate is ascertained the tax return and application for a Grant of Probate can be submitted. After the Grant has been obtained, the estate can be fully collected and administered accordingly.
Our charges, like those of all solicitors, are based on a number of different factors.
Factors, which will be taken into account, are:
- the time spent.
- the skills, specialised knowledge and responsibility required of the members of the firm handling the matter.
- the complexities and difficulty or novelty of the questions involved.
- the circumstances in which the business involved is transacted (for instance if, due to the urgency, evening or weekend work is required or if an unusually large amount of documentation needs to be considered).
Figures given to you for charge-out rates of any individuals in the firm are of course subject to periodic review (for example to take into account inflation or any increase in the level of qualification or responsibility of any member of the firm dealing with the case). We will of course notify you in the event of changes to our hourly rates.
Probate and Estate Administration Matters: £250 per hour.
Depending on the size of the Estate the cost of a Probate Matter is estimated £2,500 to £20,000 plus VAT.
Probate fee: £155
Extra copies of the Grant of Probate/Letters of Administration: £5 each
There may be third party charges for valuation of property and chattel and by share registrars, London Gazette advertisement fees (if required) etc.