Estate of Administration Pricing

Estate Administration

When comparing costs for obtaining a Grant of Probate there will be a difference in pricing between a Solicitor firm offering a properly qualified solicitor to handle the work personally and a probate department where much of the work is done by unqualified or less experienced personnel subject to the overall nominal supervision of a qualified solicitor.

Here at Newstead & Walker only a qualified Solicitor will handle the administration of an estate from start to finish for continuity. To check if the person dealing with your file on a daily basis is a qualified solicitor you can check the law society register here – Law Society find a qualified Solicitor link

Do follow recommendations from people you trust. The vast majority of our business comes from our existing clients who come back to us for repeat business or recommend their friends and family. We welcome the responsibility to provide a good service so as to earn our recommendations.

Please ring for a quote. We do not leave that process to an interactive website or to our administrative staff – you will be put through to a qualified solicitor who will not only give you a detailed estimate of fees but will be able to talk you through the process and give you the chance to weigh us up in the process!

When looking at alternative quotes please bear in mind that Newstead & Walker do not charge a percentage fee based on the value of the estate. You can imagine this could be a significant additional cost and you should always check if that is part of the quote.

The exact cost will depend on the individual circumstances of the matter and is charged on a time spent basis.  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.

Grant only service

Our Grant only service can be a cost effective way to obtain a Grant of Probate for a simple estate. Using this service, Newstead & Walker will draft the legal paperwork to obtain a Grant of Probate (or Letters of Administration where there is no Will) using information provided by the executors. The Grant only service is only available where no inheritance tax is due. The executors will be responsible for dealing with the estate once the Grant has been received.

Our Grant only fees are:

Where a simplified estate HMRC form (IHT205) is submitted – £695 plus VAT

Where a full estate form (IHT400) is submitted – £1,250 plus VAT

In addition to the above the Probate Registry fee of £155 will be payable. This will be subject to significant increase from April 2019 due to new rules being introduced by the Government, so please check with us for the latest Probate registry fee.

Full estate administration service

Our full estate administration service will provide you with expertise throughout the entire administration process and the estate will be handled by a dedicated and experienced probate solicitor

This could include:

  • Providing initial advice to the executors/family members
  • Making sure the assets of the estate are safeguarded
  • Gathering the necessary financial evidence needed for the Probate application
  • Completing HMRC forms IHT205 or IHT400 and the supplementary accounts.
  • Applying for the Grant of Representation
  • Collecting in the assets of the estate
  • Paying tax, liabilities and legacies
  • Dealing with HMRC negotiations in respect of queries raised regarding valuations
  • The preparation of full estate accounts and tax returns
  • The final distribution of the estate to the entitled beneficiaries

Our fees for this administration service will vary depending upon the terms of the Will (or if the deceased died intestate), the size and complexity of the estate and the type of assets involved.

As a guide, the fees for full estate administration will typically start from £2,500- £3,000 plus VAT for a very straightforward estate whilst fees for complex estates can exceed £5,000 plus VAT.

To see the current hourly charging rate for our Probate solicitors – Please click here

Disbursements not included in this fee estimate

Probate application fee of £155 (this will increase significantly in April 2019 as mentioned above

£7 swearing the oath (per executor)

Bankruptcy-only Land Charges Department searches (£2 per beneficiary)

£80 (average) Advert in The London Gazette – Protects against unexpected claims from unknown creditors

£150 (average) Advert in a Local Newspaper – This also helps to protect against unexpected claims

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

If there is no Will or the estate consists of many 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.

In any additional copies of the grant are required, they will cost 50p per sealed copy (1 per asset usually).

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

Finally regarding our costs we would encourage family members or beneficiaries of the estate to help with as many of the aspects of the estate that do not require legal expertise. For example taking meter readings and checking on an empty property for insurance purposes. This can help reduce the final legal costs.

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