Probate solicitors

Simple estates are estates involving residential property, banks, building society accounts, and non-complex investments such as ISAs or shareholdings and generally are below the inheritance tax threshold (inheritance tax is not payable).

We estimate that these types of matters take between 20 and 35 hours at an average hourly rate of £312 inclusive of VAT. This means on average fees are between £6,000 to £10,000 inclusive of VAT.

VAT is currently charged at 20%

Medium estates are estates involving residential property, banks, building society accounts, and non-complex investments such as ISAs or shareholdings. However, unlike simple estates, these medium estates are taxable to inheritance tax and may contain trusts created by the Will.

We estimate that these types of matters take between 35 and 60 hours at an average hourly rate of £360 inclusive of VAT. This means on average fees are between £12,000 to £21,000 inclusive of VAT.

VAT is currently charged at 20%

Complex estates are estates involving residential property, banks, building society accounts, and non-complex investments such as ISAs or shareholdings. They are taxable to inheritance tax and may contain trusts, but unlike medium estates, these complex estates may consist of business interests or agricultural land.

We estimate that these types of matters take between 60 and 100 hours at an average hourly rate of £396 inclusive of VAT. This means on average fees are between £23,000 to £40,000 inclusive of VAT.

VAT is currently charged at 20%

• Obtain the Grant of Probate on your behalf

• Collect the assets of the estate

• Arrange for the payment of liabilities

• Prepare final estate accounts for your approval

• Deal with the final distribution of the estate

• Deal with any queries raised by HM Revenue & Customs in relation to inheritance tax should this be applicable with the assistance of your accountants or valuer

• An office copy of the Grant of Probate and a certified copy of the death certificate will be retained in our strong room should it be required in the future

• The deceased's income tax affairs to the date of death and during the administration period (unless the informal rules apply)

• Any claims made on the estate by potential creditors or disgruntled beneficiaries

• Disputes between executors or beneficiaries - these will be referred to our dispute resolution department which will provide a separate cost estimate and quote of their fees on request

• In some circumstances, it may be necessary for a referral to be made to another firm for independent legal advice

• Any pension entitlements or any queries raised by The Pension Service (DWP) in relation to the receipt of means-tested benefits

• Any transfer of land and property within the estate or sale of land and property. This will be dealt with separately by our residential property or real estate teams, who will provide an estimate/quote of their fees on request

• Should the deceased's finances be in good order and easily determined at the date of death this will reduce the costs involved in the first stage of the administration - determining the assets and liabilities of the estate

• In some estates, the deceased's assets and liabilities are not fully known, and thorough investigations may need to make to determine the size of the estate, thereby increasing costs

• Assistance from the executors in determining the size of the estate can greatly assist and thereby reduce legal costs

• If the estate is subject to inheritance tax and HMRC raises an enquiry this can add to the legal costs, we aim to produce full inheritance tax paperwork to reduce this risk, however in some circumstances an enquiry by HMRC is inevitable

• Executors, if willing, can assist with the administration of the estate keeping beneficiaries informed and dealing with some administration tasks. For example, utility accounts or checking a property weekly to fulfil the insurance conditions

• We aim to work with the executors at an early stage to determine the service we are to provide in order to keep the legal costs to a minimum. Some executors however wish to have little involvement and thereby in these circumstances the legal costs will be higher

We estimate that it will take between three and six months to complete the necessary work for the submission of the application for the Grant of Probate. The Grant should be received within 12 weeks of submission or within the current Probate Registry timescale guidelines.

It will then generally take a further six to 12 months to complete the administration of the estate. This depends on the complexity of the estate and the nature of the assets involved. Should the estate be subject to inheritance tax and queries be raised by HM Revenue & Customs, then these can take a considerable time to be resolved. You will be kept fully updated throughout the progress of the matter.

An initial meeting is arranged to identify the executors and beneficiaries, and to undertake an initial assessment of the estate value. From this initial information, a specific estimate will be provided. This estimate will be based on the process required to apply for the Grant and also whether the estate will require full inheritance tax paperwork to be submitted.

The assets and liabilities of the estate will then be accurately determined and valued as necessary. This may require the services of accountants, particularly for businesses, land agents for land, and valuers for residential properties and house contents, who will make a separate charge for their work. We will then complete the necessary inheritance tax paperwork and the Statement of Truth to make the application for the Grant.

We will deal with any queries raised by HM Revenue and Customs with your valuer or accountant as necessary, and obtain inheritance tax clearance if applicable. Our probate solicitors will collect all the liquid assets of the estate, seeking instructions on the transfer/encashment of investments and will automatically have a bank account available for the estate.

Our probate solicitors will arrange for payment of all the liabilities of the estate, and prepare interim (if required) and final estate accounts and income tax certificates for the beneficiaries. We will then deal with any interim and final distribution of the estate, referring any land and property transfers or sales to the relevant department for which a separate charge will be made.

Inheritance tax is payable depending on the value of the net taxable estate, the nature of the assets in an estate, and the beneficiaries in receipt of these assets.

For example, any assets passing to a spouse or charities are exempt from inheritance tax. The rate of inheritance tax if payable is 40% (unless 10% or more of the estate is left to charities then the rate is reduced to 36%).

Various exemptions may be available to offset this charge such as for example the nil rate band (£325,000). Further guidance can be found on the government website.