GRANT OF PROBATE ONLY APPLICATIONS – £1,500 TO £6,000 PLUS VAT
Where you otherwise feel confident to administer estate assets yourself, we can assist in applying for and obtaining grant of probate. If the deceased died intestate (i.e. without leaving a will), to obtain the grant of letters of administration is likely to be more time-consuming and we would therefore usually estimate a fee of between £3,000 to £7,500 plus VAT and disbursements, depending on the deceased’s family members.
FULL ADMINISTRATION OF THE ESTATE
(No IHT return and more usual UK assets): £4,000 to £8,000 plus VAT
The above fee estimate encompasses those matters where in addition to obtaining the grant of probate, we will deal with the administration of the estate, and transfer or distribution of assets to the beneficiaries.
(Including IHT return): £10,000 to £15,000 plus VAT
The above fee estimate encompasses preparing the IHT return and arranging for any necessary payment of IHT to HMRC and in addition to obtaining the grant of probate, we will deal with the administration of the estate, and transfer or distribution of assets to the beneficiaries. The above fee estimate will also include dealing with any basic questions or queries raised by HMRC in respect of the IHT return. If HMRC raise more queries than usual, the fee estimate range will be subject to an increase. We will discuss this with you should this become necessary.
(Including IHT return and full estate accounts): £20,000 to £30,000 plus VAT
All services listed above will be included together with the preparation of a full set of estate accounts for the approval of the beneficiaries, including the usual form of release and discharge for them to sign in favour of the executors.
ADDITIONAL FEES WILL BE CHARGED IF, IN ADDITION TO THE ABOVE, THE ESTATE INCLUDES ANY OR ALL OF THE FOLLOWING:
• Deceased’s assets include shares or interests in private businesses (including farm and agricultural businesses)
• Deceased’s assets include artwork, copyrights, a large number of properties or any other asset with additional complexity and where the value will need to be agreed with HMRC for IHT purposes
• Lifetime gifts which are taxable
• Where there are additional IHT considerations and compliance for the deceased’s estate and the trustees of the trust such as, where the deceased held a qualifying life interest in settled property or where the deceased had reserved a benefit in an asset which he or she had given away during their lifetime
• Deceased’s estate includes assets in other jurisdictions
• Intestacy
Other complexities may arise which could give rise to increased fees. Please contact a member of our Private Client Department for a tailored fee estimate.
In addition to our fees, disbursements will be charged. The anticipated disbursements will be set out in our client care letter. Our fees and any disbursements (subject to VAT) will be subject to VAT at the prevailing rate in force from time to time.
