Wills, Trusts and Probate - Pricing 

Our Pricing

For applying for the grant, collecting and distributing the assets

Each probate matter will be different but there are some areas we are able to be more indicative and in accordance with the Solicitors Regulation Authority (SRA) Guidance on Price Transparency, City Lawyers have published our prices and service information where possible to be upfront about charges without knowing all the details of the matter.

We anticipate the probate matter will take between 5 - 15 hours work at £250 per hour.  Total costs estimated at £1,250 - £3,750 (+ VAT).  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.  This quote is for estates where:

  • There is a valid will
  • There is no more than one property
  • There are no more than 2 - 3 bank or building society accounts
  • There are no other intangible assets
  • There are 1 - 4 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 the executors do not need to submit a full account to HMRC
  • There are no claims made against the estate

 Possible disbursements during a probate matter:

  • Probate application fee of £155 (changes are being introduced in April 2019 as the fees will be based on the value of the estate)
  • If any additional copies of the Grant are required, they will cost £0.50 (1 per asset usually).
  • Swearing of the Oath (per executor) £7
  • Advert for Creditors - Protects against unexpected claims from unknown creditors.  £200 approximately
  • Land Registry Search fee £3
  • Bankruptcy Search Fee (per beneficiary) £2 

Potential additional costs:

  • If there is no will or the estate consists of any share holdings (stocks and bonds) there is 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
  • Dealing with the sale or transfer of any property in the estate is not included 

How long will this take?

Louise will give you a clear time frame of how long the probate will take at the first appointment.  On average, estates that fall within this range are dealt with within 3 - 6 months.  Typically, obtaining the grant of probate takes 6 - 8 weeks.  Collecting assets then follows, which can take between 2 - 4 weeks.  Once this has been done, we can distribute the assets and finalise Income Tax/CGT and produce final estate accounts, which normally takes 5 - 10 weeks.

Inheritance Tax

If the estate requires Inheritance Tax guidance this will usually involve the following: (For more information on this visit HMRC's website) 

·         Assessing lifetime gifting in the 7 years pre-death

  • In depth valuation of assets to ensure that the HMRC Account is as accurate as possible
  • Claiming IHT reliefs available, how to best raise and pay the IHT
  • Paying the full balance of IHT and obtaining IHT clearance
  • Preparing longer and more detailed estate accounts 

We suggest this will take between 20 - 40 hours work at an hourly rate of £250 per hour.  

Why use a Solicitor?

They are thoroughly trained and rigorously tested in their knowledge of the law.  They have to abide by a professional code of conduct.  They have insurance - Professional Indemnity Insurance - in case something goes wrong.  They are regulated by an independent body (the SRA) to ensure that they act in an ethical and professional manner.  They will probably have dealt with the same or a very similar issue to the one you have, so will have experience in how to handle the situation.

 

 

 

City Lawyers is the trading name of City Lawyers (Personal Injury) Limited, a limited liability company registered in England and Wales under number 06901117,
which is authorised and regulated by the Solicitors Regulation Authority. The registered office is Suite 2, Phoenix House, 63 Campfield Road, St Albans, Herts AL1 5FL.

© Copyright 2019 City Lawyers. All Rights Reserved