Administration of an Estate

 

Applying for the Grant of Representation (Probate) ONLY

If you would like to deal with the majority of the estate administration yourself but would like us to just apply for the Grant then we can prepare and submit the HMRC forms and Online Probate application for you.  Our Fixed Fee is £950.00 plus VAT if the shorter HMRC form IHT205 is required.  If the full HMRC form IHT400 is needed but there is no Inheritance Tax (IHT) to pay this will increase to £1,250.00 plus VAT.  We can provide a fixed fee service if there is IHT to pay on the estate and please contact us for an individual quote.

Applying for the Grant, Collecting and Distributing the Assets

If you would like us to apply for a Grant, collect and then distribute the assets we charge an hourly rate of £250.00 plus VAT.  In addition to the time spent on the file, we charge a percentage in accordance with the total value of the deceased’s Estate.

  • Where we have not been appointed as Executor we will charge ½% on the value of the home, plus 1% of the value of the rest of the estate.
  • Where we have been appointed Executor/Joint Executor we charge 1½% of the value of the home and 1% of the value of the estate.

This allows us to handle the full process for you without charging extra for more complicated estates.

Disbursements

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.

Disbursements which might need to be paid are:

  • Probate Court application fee of £155.00
  • Probate Court Fees for each copy of the Grant (amounting to £1.50 per copy).
  • Bankruptcy- Land Charges Department searches (£3.00 per beneficiary)
  • £62.15 Post in The London Gazette – Protects against unexpected claims from unknown creditors.
  • £50.00 (approx). Post in a Local Newspaper – This also helps to protect against unexpected claims where there is a property. The exact cost depends on the location of the deceased.

How long will it take?

To hear back from all asset holders with the valuations that are required to complete the probate papers for HMRC and the Probate Court usually takes between 2 to 3 months.  Once all this information is obtained then an application to extract the Grant will be made to the Probate Court.  There have been significant delays with the Court and HMRC since early 2019. At present it is taking around 8 - 10 weeks for  Grant to be issued where there is no tax payable and it will approximately a further 6 weeks if tax is payable by HMRC.  We will then collect in the assets and distribute the estate to the beneficiaries.  Most estates when properly administered can take between 9 months to 1 year to finalise but the time frames will vary depending upon the number of assets in the estate, the location in the world of the assets, the tax position of the estate and the number of beneficiaries.  Very complex estates can take much longer. 

 

We know our fees are competitive in relation to the service we provide. However, if you have received a lower quotation from a local reputable firm then please do not hesitate to get in contact with us and we will endeavour to match it.