We provide help for the future in drafting Wills and Lasting Powers of Attorney. We can assist on the death of a loved one with all aspects of probate and intestacy work.
Please contact Nick Hodges on nickhodges@owenandco.co.uk and he and his staff will be happy to discuss your requirements and to tailor our services to your needs.
PROBATE COSTS
Our work is charged by us on an hourly rate, so your final bill will depend on how much time we have taken dealing with the matter on your behalf.
Applying for the Grant, collecting and distributing the assets
We anticipate this will take between 4 and 24 hours work at £300 per hour. Total costs are therefore estimated at £3,000 to £10,000 plus VAT. 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 3 bank or building society accounts
- There are no other intangible assets
- There are 1 to 6 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 you 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.
Disbursements to be added to the fee:
- Probate application fee of £300
- Bankruptcy-only Land Charges Department searches (£2 per beneficiary)
- £120 (approximately) Post in The London Gazette – Protects against unexpected claims from unknown creditors.
- £160 (approximately) Post in a Local Newspaper – This also helps to protect against unexpected claims.
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.
- If any additional copies of the grant are required, they will cost £1.50p (1 per asset usually).
- The costs of dealing with the actual 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 4 to 12 months. Typically, obtaining the grant of probate takes up to 16 weeks from application. Collecting assets then follows, which can take between 4 to 8 weeks. Once this has been done, we can distribute the assets, which normally takes place after the claims time limit has passed, i.e. after 10 months.