Managing an estate is a complicated process and all the following need to be carried out: 

• collecting information about and valuing the estate

• completing inheritance tax forms

• applying to the Probate Registry

• collecting assets

• paying debts

• preparing accounts

• informing those who are receiving something from the estate

• transferring property and assets

 

Getting these matters resolved accurately is important and at New South Law we can help take some weight from your shoulders by dealing with the estate professionally, courteously and as quickly as possible. 

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We can assist with managing the estate, whether the deceased left a Will or not, handling the paperwork involved in dealing with inheritance tax and distribution of the estate. 

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If the deceased left a Will, we can make sure the estate is managed properly and consider if there are any ways that inheritance tax can be saved. 

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We are committed to dealing with these matters fully and, if you have been unfortunate enough to lose a loved one, we can help you deal with the rest.

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How much will it cost? 

There are a few different options which we can discuss to work out the best solution for you. A couple of options are fees on an hourly rate or a percentage of the estate. 

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Please see Table 1 for details (displayed at the bottom of this page).

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Tier 1 Probate - Grant Only

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We can provide a Grant only service and should be able to provide a fixed fee once we know the number of assets and liabilities. The fee will vary depending on whether you need to submit an IHT205 application or a IHT400 application, which relate to inheritance tax liability.

However, based on the assumptions below, we anticipate it will take between 5 - 10 hours work at £158 per hour plus vat. Total costs are therefore estimated at between £790 - £1,580 + vat and assumes that all 3rd parties respond with all the necessary information in a reasonable period without needing to be chased.

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, costs will be at the higher end. We 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 5 bank or building society accounts

• There are no other intangible assets

• There are living beneficiaries whose location is known

• 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

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Disbursements

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.

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Please see Table 2 for details (displayed at the bottom of the page).

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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 50p per copy (1 per asset usually).

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

• Any Inheritance tax payable is not included in this price. If you wish to obtain an idea there is an online inheritance tax calculator on HMRC. https://www.gov.uk/inheritance-tax

 

How long will this take?

On average, estates that fall within this range can be dealt with within 3 months of receiving the full information.

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Tier 2 Probate - Full Administration

Again the exact costs are difficult to determine without all the information. However we do appreciate that our clients need some guidance and certainty as to the likely costs involved in this process. In our experience, the legal fees for administering an estate are approximately 2% plus VAT of the value of the assets within the estate. Occasionally, this can vary due to the factors we have listed below but in our experience,  this is a good indication of our likely fees. We will give you a more accurate estimate once we have more information taking into account any of the factors below as appropriate.  

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As part of our service we will assist you with obtaining the necessary information to obtain the Grant of Probate, administer the Estate and distribute according to the Will or under the Intestacy Rules.

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However, it is likely that the time required will be 10 - 20 hours at £158 per hour plus vat. Total costs are estimated at between £1,580 - £3,160 plus vat and assumes that all information required is provided in a reasonable amount of time.

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We 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 5 bank or building society accounts

• There are no other intangible assets

• There are living beneficiaries whose location is known

• 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

 

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 50p per copy (1 per asset usually).

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

• Any Inheritance tax payable is not included in this price. If you wish to obtain an idea there is an online inheritance tax calculator on HMRC. https://www.gov.uk/inheritance-tax

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Disbursements

Please see Table 3 for details (displayed at the bottom of the page).

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How long will this take?

On average, estates that fall within this range can be dealt with within 3 to 6 months.

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Who will deal with my matter?

Your matter with be dealt with by an experiences probate fee earner or solicitor depending on the complexity and you will be told when we discuss your case. However rest assured all cases are supervised by an experienced Probate Solicitor.