SOLVING PERSONAL LEGAL MATTERS
The administration of an estate includes applying for a Grant of Probate or Letters of Administration, collecting in and distributing the assets of the estate to the beneficiaries as set out in the Will of the deceased or under the Intestacy Rules (if the person passed away with no Will).
In order to apply for a Grant of Probate or Letters of Administration, an Inheritance Tax form must be completed. This is the case regardless of whether there is any Inheritance Tax to pay and whether or not the deceased left a Will.
There are two Inheritance Tax forms; short form IHT205 for simple and lower value estates and long form IHT400 for complex and higher value estates.
If the estate is straightforward and none complex it is sometimes the case that you may need a solicitor's assistance in applying for the Grant only and are able to deal with the rest of the administration yourself.
Alternatively we can deal with all aspects probate and administration of an estate where we will calculate our fee depending on the value and complexity of the estate.
Obtaining Grant only with short form IHT205 (see above)
|£800 + VAT @ 20%|
Obtaining Grant only with long form IHT400 (see above)
|£1200 + VAT @ 20%|
Full administration, straightforward estate:
Estate value less than £325,000 based on short form IHT205 (see above)
|£1500 - £3500 + VAT @ 20%|
|Estate value over £325,000 based on short form IHT205 (see above)||£1500 - £5000 + VAT @ 20%|
|Estate value over £325,000 based on long form IHT400 (see above)||£2500 - £10000 + VAT @ 20%|
Factors which might necessitate a higher fee include:
Our fees for full administration of a straightforward estate include:
All fees quoted above are exclusive of disbursements, expenses and third party costs incurred e.g. estate agents, valuation fees and conveyancing costs, which will be charged in addition to the fees quoted above. The regular disbursements that may arise on the administration of an estate include but are not limited to the following:
Our fees do not include:
For a full case specific estimate please contact us to discuss the specifics of your probate and administration of the estate needs.
Timescales will depend on the complexity of the Estate. In probate matters, it can take up to 6 months before probate is granted and it can be at least a further 6 months before the estate is finalised. Sometimes there are complications and the matter can become more protracted but we would seek to keep you updated with any unexpected delays in dealing with the administration. If appropriate we would make interim distributions prior to the administration being completed.
Partner and Trust and Estate Practitioner, Wills, Probate, Tax and Trusts
Wills, Probate, Tax & Trusts
01772 220 022