The process of administering the estate of a deceased person, especially a loved one, can be a daunting task and come at a difficult time. We can assist you through all stages of administering a deceased person’s estate.

The Cost (smaller estates)

Administering a typical estate valued at £300,000 may take between 12 and 18 hours’ work at £245 per hour plus VAT. Total costs estimated between £2950 and £4500 plus VAT.

The exact cost will always 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, costs will be at the higher end and may in some circumstances exceed it.

We will handle the full process for you. The above estimate is for estates where:

• There is a valid will
• There is no more than one property
• There are no more than five bank or building society accounts
• There are no other intangible assets
• There are no more than five 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 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. Typical disbursements are set out below.

Potential additional costs

If there is no will or the estate consists of any share holdings (stocks and bonds), there are 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.

Dealing with the sale or transfer of any property in the estate is not included.

How long will this take?

On average, estates that fall within this range are dealt with within four to six months. Typically, obtaining the grant of probate takes six weeks. Collecting assets then follows, which can take up to eight weeks. Once this has been done, we can distribute the assets, which will not usually exceed four weeks if there are no outstanding issues.

If additional assets come to light which we were not informed about at the outset, clearly this can add to the length of the process. In cases where the deceased was in receipt of means-tested benefits, enquiries by the DWP may also delay concluding the administration.

Larger Estates

Larger estates involve more work for a number of reasons, in particular where inheritance tax is payable and when a full account of the estate has to be submitted to HMRC.

The Cost (larger estates)

Administering a typical estate valued at £800,000 may take between 18 and 30 hours’ work at £245 per hour plus VAT. Total costs estimated between £4500 and £7500 plus VAT.

The exact cost will always 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, costs will be at the higher end and may in some circumstances exceed it.

We will handle the full process for you. The above estimate is for estates where:

• There is a valid will
• There is no more than one property
• There are no more than five bank or building society accounts
• There are no other intangible assets
• There are no business or agricultural assets
• There are no more than eight 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 are no claims made against the estate

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

Especially in larger estates, there are numerous circumstances which may give rise to additional work. These include:

• If there is no will
• If there is missing documentation
• If the estate includes shareholdings (stocks and bonds), there are likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with.
• If there are business or agricultural assets and inheritance tax relief has to be claimed
• If HMRC raise enquiries regarding inheritance tax or (less frequently) other taxes
• If the deceased made significant lifetime gifts that impact on inheritance tax
• If the estate includes digital assets
• If the deceased had interests under a trust.

We can give you a more accurate estimate once we have full information.

Dealing with the sale or transfer of any property in the estate is not included.

How long will this take?

On average, estates that fall within this range are dealt with within six to eight months. Typically, submitting the inheritance tax account and obtaining the grant of probate takes ten to twelve weeks. Collecting assets then follows, which can take up to eight weeks. Once this has been done, we can distribute the assets, which will not usually exceed four weeks if there are no outstanding issues.

If additional assets come to light which we were not informed about at the outset, clearly this can add to the length of the process.

Disbursements

As stated above, disbursements are costs related to your matter that payable to 3rd parties, such as court fees. We handle the payment of disbursements on your behalf to ensure a smoother process.

Disbursements in addition to legal fees are likely to include:

• £155 - Probate application fee
• £2 per beneficiary - bankruptcy-only Land Charges Department searches

Depending on circumstances and requirements, they may also include (this list is not exhaustive):

• £195 (approximately) - posts in The London Gazette and in a local newspaper, to protect against unexpected claims from unknown creditors. (Fees charged by newspapers do however vary widely.)
• Valuation fees in respect of land, property, business interests, certain investments, personal effects
• Insurance during the administration period
• Costs of house clearance and property maintenance

In all cases

In all cases, as part of our service we will (unless specifically instructed otherwise):

• Provide you with a dedicated and experienced probate solicitor to work on your matter
• Identify the legally appointed executors or administrators and beneficiaries
• Accurately identify the type of Probate Application you will require
• Obtain the relevant documents required to make the application
• Complete the Probate Application and the relevant HMRC forms
• Prepare a legal statement of truth for you to swear
• Make the application to the Probate Court on your behalf
• Obtain the Probate
• Collect and distribute all assets in the estate
• Provide a full account of funds received, paid and distributed by us during the course of the administration.