Low estimate: £695 + 20% VAT (£139) Total: £834

High estimate: £995 + 20% VAT (£199) Total: £1,194

Includes:

• Advising on the validity of the Will, and/or entitlement to apply for a grant
• Preparing the IHT205 Return of Estate Information (if applicable) and claims for transferable nil rate band X
• Preparing the application for a grant and arranging the completion of the application papers as required by the Court
• Liaising with the Court and obtaining the Grant of Probate/Letters of Administration

This is based upon written confirmation of all assets and debts being provided to us by you.

It does not include:

• Making any enquiries with any asset holder or creditor
• Checking the accuracy of the information provided by the client
• Collecting in assets, paying debts or distributing to entitled beneficiaries
• Preparing claims for relief against inheritance tax (other than as detailed above)
• Preparation of a claim for the Additional (Residence) Nil Rate Band (which necessitates a formal IHT return)
• This fee does not account for dealing with any claims made against the estate, against the validity or otherwise of a Will, or dealing with any matter preventing the issue of a Grant of Probate/Letters of Administration
• Any estate which requires completion of the IHT400 and schedules is not eligible for this service.

Timescale:

We will prepare the necessary application within 14 days of receiving all required information from you. The actual time that the Court takes to issue the Grant of Probate/Letters of Administration is variable, and depends upon the workload of the Court and is therefore outside of our control

Request a Quote

To get a no obligation, exact quote, please call us on 01633 867 000, or email info@rlo.law

From £1,250 + 20% VAT (£250) Total: £1,500

We are able to offer a bespoke service dealing with all aspects of the administration of an estate from the very beginning, right the way through to completing the administration and accounting to the entitled beneficiaries.

We pride ourselves on offering a cost-effective and personal service, with the aim of ensuring an efficient administration and timely completion.

Below is an example estimate for obtaining a grant of probate as well as administering a non-taxable estate. Our fees are calculated based on the amount of time that we spend working on the estate (charged by reference to an hourly rate).

An estimated cost for this service is provided below based on a ‘typical’ case.

• Hourly Rate: £250
• Estimated Hours: 18hrs
• Estimated Timescale: up to 36 weeks
• Estimated Cost: £4,500 plus 20% VAT (£900) Total: £5,400

The estimated timescales are subject to matters outside of our control, such as response times from financial institutions, government departments etc.

If there is no valid Will extra time will need to be spent determining who the entitled applicants and beneficiaries are. This is likely to add approximately 1 – 2 hours to our costs, therefore a further £200-400 depending upon the complexity of the family circumstances. In some instances (such as where the family tree is incomplete) we would suggest instructing a genealogist to prepare the necessary family tree.

The Fee Includes:

• Meeting with the Executors (where there is a Will) or entitled applicants (where there is no Will) and advising on the process of administering an estate, the duties of the Executors, and the correct interpretation of the Will (or Intestacy Rules where there is no Will).
• Ascertaining the assets and liabilities in the estate, including corresponding with asset holders and creditors, reviewing financial records and making necessary enquiries with financial institutions.
• Completion and submission of Inheritance Tax forms (IHT205) for non-taxable estates, or reporting of estate values as appropriate including applications to transfer unused nil-rate bands from a deceased spouse where everything passed to the spouse who has now died.
• The preparation and submission of the application for the grant of probate.
• Gathering the estate’s assets and advising on and settling the debts of the deceased, including liasing with the Department for Work and Pensions in respect of their lawful enquiries of the estate.
• Preparation of an Estate Account to enable the Executors to comply with their legal obligations to account for the administration of the estate.

The estimate is based on a service which includes us dealing with one property and six bank/building society accounts, shareholdings etc.

This would apply if it is a non-taxable estate, and where we would be distributing assets to up to four beneficiaries. This fee does allow for some intangible assets such as shareholdings.

The fee does not include:

• disbursements (payments made on your behalf to third parties, such as the Court fee).
• dealing with any claims made against the estate, against the validity or otherwise of a Will, or dealing with any matter preventing the issue of a Grant of Probate/Letters of Administration.
• Advice and/or creation of documents altering the distribution of the estate (such as variations or disclaimers).

Request a Quote

To get a no obligation, exact quote, please call us on 01633 867 000, or email info@rlo.law

Single Will – £280 plus VAT

Mirror Will – £350 plus VAT

RTR (right to reside) single Will – £450 plus VAT

RTR mirror will – £550 plus VAT

Single person/One type £495 plus VAT

Single person/Both types £695 plus VAT

Couple/One type £695 plus VAT

Couple/Both types £995 plus VAT

There may be Inheritance Tax (IHT) payable by the estate which would be separate to the estimated cost.
For additional information on Inheritance Tax please visit the gov.uk website: gov.uk/inheritance-tax

Disbursements are costs related to third party services which we pay on your behalf.

We have not included the following disbursements in the above prices which may be charged in addition to the above fee. We price these based on the cost at which these services are charged to us:

• Probate Application Fee: £300 (plus £16 per additional copy) (No VAT applicable)
• Where not all executors are applying there will be a notice to non-proving executor – £25 (per notice) + VAT 20% (£5) Total: £30
• Bankruptcy searches – approx £5 (per person)
• Financial Asset Search (third party service) – approx £295
• s. 27 Trustee Act Notices – £200 -£300

Please note:

• These fees do not apply where any assets of the estate are outside of the UK.
• These fees do not apply if the Will or distribution of the estate is contested or the executors are in dispute.
• These fees do not apply in cases of insolvent estates.
• These fees do not apply if there is a claim against the estate under the Inheritance (Provision for Family & Dependants) Act 1975.
• Fees may vary dependant on individual circumstances.

Stage 1 – Valuing the Estate

At this stage we will go through the deceased’s papers and bank statements to establish their assets and liabilities. This can be quite straightforward, however in some cases there may be multiple investments, properties, and other personal belongings to consider  – as well as joint ownership which will need to be determined.

At this stage we may need to contact banks, lenders, fund managers, pension providers, the local government, the DWP, HMRC, and other institutions to obtain a full picture of the estate.

Stage 2 – File Inheritance Tax Forms

Whether or not Inheritance Tax (IHT) must be paid the correct forms must be completed. One form is used for non-taxable estates, another set of forms for taxable or more complex estates.

We will complete the relevant forms as well as any relevant schedules to ensure that the Executors fulfil their legal duties and correctly declare the value of the estate. It is at this point that we will establish the amount of tax payable (if any).

Stage 3 – Pay Inheritance Tax

If IHT is payable on the estate then it must be paid prior to obtaining the Grant of Probate. Funds can be transferred directly from the deceased’s accounts, or other assets utilised, and we will assist in complying with the strict time limits set by law.

Stage 4 – File the Application for Probate

Once we have ascertained the value of the estate, and account for all assets and liabilities, we will be able to lodge the formal application for the Grant of Probate at the Probate Registry.

The Executors will need to sign documents formally confirming that the details given are correct.

At this stage we will pay the applicable probate fees on your behalf. These are fixed regardless of the size of the estate and are detailed above in the disbursements section.

Stage 5  – Administer the Estate

We will collect in the assets of the estate, discharge any liabilities and subsequently distribute the estate in accordance with a Will (or the Intestacy Rules if there is no Will). At this stage we will deal with any complications that have arisen and will make sure that the Executors are fully advised about their responsibilities, and ensure that they have complied with them.