Probate and Estate Administration Price and Services Information
This page explains our probate solicitor fees and estate administration costs, including grant-only probate applications, full estate administration, likely disbursements and VAT. It also shows example timescales and pricing scenarios.
If you would prefer a simple overview of the Probate process and our service, please see Probate & Estate Administration ›
We want to provide you with all the information you need when considering our legal services. Our aim is to be transparent and enable you to make an informed decision when choosing a law firm.
Typical Probate Costs at a Glance
- Obtain Grant of Probate only: Typically £1,200 +£240 VAT = £1,440 Total
- Full Administration of Estate: cost varies, from £2,750 +£550 VAT = £3,300 Total
- Administration of large and complex estates can be charged on an hourly-rate basis. The hourly rate is £300 +VAT of £60 = £360 per hour
See below for detailed pricing, additional charges, and example scenarios.
The legal services we provide are personal and tailored to you and your specific circumstances. We will always provide a written quote – so you’ll know the full cost before you go ahead.
If you have any queries, please contact our friendly team for no-obligation help.
01643 802 263 enquiries@rjpadgett.co.uk
Staff delivering the service
Rebecca Padgett (Managing Director) will carry out the work on your probate matter. Rebecca Padgett is a Solicitor and a Chartered Legal Executive. She is also a member of the Society of Estate and Trust Practitioners. Rebecca also holds the Institute of Legal Finance and Management’s diploma in Legal Professional Accounts Rules and Bookkeeping. She has over 18 years’ experience in private client work. Read Rebecca’s full profile here ›
Contents
Probate & Estate Administration Price and Services
1) Grant of Probate – Simple Estate
2) Full Estate administration – simple Estates (typically under £1 million)
3) Probate and Estate Administration additional charges
4) Complex Estates – Full Estate administration
Example Scenarios and Prices
5) Example Scenario A: Grant of Probate service, simple estate
6) Example Scenario B: Grant of Probate service, more complex estate
7) Example Scenario C: Grant of Probate service, high value estate passing to spouse
8) Example Scenario D: Administration of Estate service, simple estate
9) Example Scenario E: Administration of Estate service, more complex estate, missing Will
10) Example Scenario F: Administration of Estate service, complex estate with, two residential properties, a business, and investment portfolio
1) Grant of Probate Service – simple Estate:
We will obtain the Grant of Probate or Grant of Letters of Administration (where there is an intestacy and no valid Will) and the executors can administer the estate themselves.
We will:
- Retrieve the original Will from another firm’s safekeeping if required
- Organise missing Will search if required
- Consider the terms of the Will and advise the executors. If an Intestacy, consider the Intestacy Rules and establish who the beneficiaries are
- Meet with the executors/administrators to answer any queries and to go through the deceased’s paperwork together
- Regular email updates and telephone calls
- Notify beneficiaries and legatees of their entitlement under the Will or Intestacy Rules
- Organise Estate Search’s premium asset search including digital asset search
- Organise Trustee Act notices if required
- Complete ‘Tell Us Once’
- Notify all companies of the death and obtain valuations
- Organise income tax return to date of death if required
- Return LPA to OPG for cancellation
- Prepare estate valuation
- Assess inheritance tax and claim transferable Nil Rate Bands and Residence Nil Rate Band
- Complete Legal Statement
- Correspondence with HMCTS
- Obtain the Grant of Probate or Grant of Letters of Administration
- Advise executors/administrators of claim periods
What is not included:
- Registration of the death
- Full Inheritance Tax Account
- PA15/17 or notice to reserve power
- Establishing family tree for complicated intestacy
- Deed of Appointment to terminate a Nil Rate Band Discretionary Trust – we will advise you if the Will contains a trust.
We charge additional fees for the above services. For details of the service and prices, please see Probate and Estate Administration additional charges below.
- Estate administration to include closure of bank accounts and encashment of assets
- Complete of forms to close accounts
- Transfer of assets or transfer of ownership of property
- Distribution of estate
- Estate Accounts
Timeframe:
4 – 8 weeks from date of the initial meeting to ascertain all information and prepare the Legal Statement.
This will be uploaded online which is quicker. The Probate Registry can take up to 12 weeks to issue the Grant of Probate.
A paper application for an intestacy takes longer – 13 – 15 weeks.
If the Probate Registry has queries the application can take longer.
Therefore allow 20 – 25 weeks for the whole process from start to finish.
Price:
A fixed fee of £1,200 plus VAT of £240, totalling £1,440. At this fee level there would typically be a property, a bank account, a life assurance policy and a pension.
If the Estate has additional assets, such as investment accounts and additional bank accounts, the fixed fee will be between £1,750 plus VAT of £350, totalling £2,100, and £2,000 plus VAT of £400, totalling £2,400.
We are required to verify the executors’ and residuary beneficiaries’ identities – this is an additional fee of £30 plus VAT of £6, totalling £36 a person.
This fee is payable from the estate.
We always provide you with a detailed quote so you will know exactly what it will cost.
Disbursements (payments to third parties):
H M Land Registry – Official Copy Entries £7.00 per copy plus VAT of £1.40, totalling £8.40 per copy. This is to check the title to any property held by the deceased.
H M Land Registry – Bankruptcy search £6.00 per search plus VAT of £1.20, totalling £7.20 per search. This is to check that the deceased was not registered as bankrupt.
Estate Search – Missing Will Search - £349.00 plus VAT of £69.80, totalling £418.80
This service conducts a thorough search for any Wills, including the Probate Depository Service
Estate Search Financial Profile Premium Search - £210.00 plus VAT of £42.00, totalling £252.00. This is an asset and liability search which identifies live, online, lost and dormant accounts.
Trustee Act notices:
London Gazette - £117.60 plus VAT of £23.52, totalling £141.12.
Local newspaper – dependent on local paper’s pricing.
These are to advertise for unknown creditors or illegitimate children.
Probate Registry Fees:
Probate Registry fee - £526
This is the Probate Registry’s fee to process the application for the Grant of Probate/Letters of Administration.
Sealed copies of the Grant - £16 each
This is the Probate Registry’s fee for sealed copies of the Grant. These are presented to the various organisations to prove who the executors/administrators are. As a general guide, one copy is required for each organisation the deceased had assets with or asset itself.
Inheritance tax may be payable. Details of how Inheritance Tax works can be seen on the .Gov website at https://www.gov.uk/inheritance-tax. When you instruct us, we will calculate the Inheritance Tax.
2) Full Estate administration – simple Estates (typically under £1 million)
We will obtain the Grant of Probate and deal with all aspects of the estate administration to include distributions and winding the estate up.
We will:
- Retrieve the original Will from another firm’s safekeeping if required
- Organise missing Will search if required
- Consider the terms of the Will and advise the executors. If an Intestacy, consider the Intestacy Rules and establish who the beneficiaries are
- Meet with the executors/administrators to answer any queries and to go through the deceased’s paperwork together
- Regular email updates and telephone calls
- Notify beneficiaries and legatees of their entitlement under the Will or Intestacy Rules
- Organise Estate Search’s premium asset search including digital asset search
- Organise Trustee Act notices if required
- Complete ‘Tell Us Once’
- Notify all companies of the death and obtain valuations
- Organise property valuation
- Organise share valuations
- Organise property insurance through insurance broker
- Organise income tax return to date of death if required
- Return LPA to OPG for cancellation
- Prepare estate valuation
- Assess inheritance tax and claim transferable Nil Rate Bands and Residence Nil Rate Band
- Complete Legal Statement
- Correspondence with HMCTS
- Obtain the Grant of Probate or Grant of Letters of Administration
- Advise executors/administrators of claim periods
- Provide regular updates to beneficiaries and legatees
- Register Grant with companies and organise transfer/sale of assets
- Consider Capital Gains Tax consequences prior to any sales
- Prepare Estate Accounts
- Organise administration period income tax returns
- Organise payment of estate’s liabilities
- Organise payment of legacies
- Organise interim and final distributions to residuary beneficiaries
- Advise executors/administrators throughout
What is not included:
- Registration of the death
- Full Inheritance Tax Account
- PA15/17 or notice to reserve power
- Establishing family tree for complicated intestacy
- Deed of Appointment to terminate a Nil Rate Band Discretionary Trust – we will advise you if the Will contains a trust
- Deed of Variation
- Memorandum of Appropriation
- CG34
- DWP investigation
- Sale or transfer of investments – where there is more than one investment account or holding we charge an additional fee for dealing with them as we also need to account for them in the Estate Accounts
We charge additional fees for the above services. For details of the service and prices, please see Probate and Estate Administration additional charges below.
- Transfer of Ownership of property - We do not provide a conveyancing service, however we have a list of trusted conveyancers, who we are happy to refer you to.
- Income tax and Capital Gains tax returns – we can organise with a recommended chartered accountant if required
Timeframe:
4 – 8 weeks from date of the initial meeting to ascertain all information and prepare the Legal Statement.
This will be uploaded online which is quicker. The Probate Registry can take up to 12 weeks to issue the Grant of Probate.
A paper application for an intestacy takes longer – 13 – 15 weeks.
If the Probate Registry has queries the application can take longer.
Once Probate has been granted we will collect the assets and will usually have closing balances within 3 – 4 weeks. The executors may wish to wait for the 6-month claim period from the date of the Grant of Probate to elapse before distributing the estate. There may be a property to sell which will affect the timescale for finalisation.
Therefore allow 12 months for the whole process from our initial meeting to finalisation.
Price:
A fixed fee of £2,750 plus VAT of £550, totalling £3,300. Typically for an estate comprising a property, several bank accounts, NS&I accounts, a life assurance policy and a pension to be distributed to 2 or 3 Beneficiaries.
If the estate is more complex and has more assets, beneficiaries and legacies, the fixed fee will be between £4,000 plus VAT of £800, totalling £4,800 and £7,000 plus VAT of £1,400, totalling £8,400.
This fee is payable from the estate.
We are required to verify the executors’, residuary beneficiaries’ and legatees identities – this is an additional fee of £30 plus VAT of £6, totalling £36 a person.
We will charge an electronic transfer fee of £40 plus VAT of £8, totalling £48 for distributions to Beneficiaries and for payment of Inheritance Tax.
Disbursements (payments to third parties):
H M Land Registry – Official Copy Entries £7.00 per copy plus VAT of £1.40, totalling £8.40 per copy. This is to check the title to any property held by the deceased.
H M Land Registry – Bankruptcy search £6.00 per search plus VAT of £1.20, totalling £7.20 per search. This is to check that the deceased was not registered as bankrupt.
Estate Search – Missing Will Search - £349.00 plus VAT of £69.80, totalling £418.80. This service conducts a thorough search for any Wills, including the Probate Depository Service
Estate Search Financial Profile Premium Search - £210.00 plus VAT of £42.00, totalling £252.00. This is an asset and liability search which identifies live, online, lost and dormant accounts.
Trustee Act notices:
London Gazette - £117.60 plus VAT of £23.52, totalling £141.12.
Local paper – dependent on local paper’s pricing.
These are to advertise for unknown creditors or illegitimate children.
Probate Registry Fees:
Probate Registry fee - £526
This is the Probate Registry’s fee to process the application for the Grant of Probate/Letters of Administration
Sealed copies of the Grant - £16 each
This is the Probate Registry’s fee for sealed copies of the Grant. These are presented to the various organisations to prove who the Executors/Administrators are. As a general guide, one copy is required for each organisation the deceased had assets with or asset itself.
Inheritance tax may be payable. Details of how Inheritance Tax works can be seen on the .Gov website at https://www.gov.uk/inheritance-tax
3) Probate and Estate Administration additional charges
Forms PA15 or PA17 to renounce Executor rights
Fixed fee of £100 plus VAT of £20, totalling £120
If an Executor does not wish to act in an estate, they can renounce. This ends their involvement. This form enables them to formally renounce their role.
Notice to Reserve Power
Fixed fee of £50 plus VAT of £10, totalling £60
If an executor does not wish to act in an estate but wants the possibility of becoming involved at a later date, a notice needs to be served on them. The Grant will be issued to the other executors.
Register the death
Fixed fee of £350 plus VAT of £70, totalling £420
We can register the death with the registrar if required.
Make funeral arrangements in the absence of anyone else to do so
Fixed fee of £300 plus VAT of £60, totalling £360
Acting as Executor
Fixed fee of £2,500 plus VAT of £500, totalling £3,000
If we have been appointed as an executor under the terms of a Will, we will charge a fee to act as the executor to reflect the personal responsibility.
Preparation of full Inheritance Tax Account
Fixed fee of £500 plus VAT of £100, totalling £600
Certain high value, taxable or complex estates require a full Inheritance Tax Account to be submitted to HMRC.
Selling/transferring investments
Fixed fee of £100 plus VAT of £20, totalling £120 per holding/account
An Estate which has shareholdings and investment accounts requires the investments to be sold or transferred. The Estate Accounts need to show the share sale proceeds and income received which requires additional work.
Deed of Variation
Fixed fee of £595 plus VAT of £119, totalling £714
A Deed of Variation is used to amend the Will to vary its terms and direct a beneficiary’s inheritance elsewhere. It is very useful for inheritance tax planning or to benefit someone the testator may not have included in their Will.
Deed of Variation to include drafting a trust with letter of wishes
Fixed fee of £1,500 plus VAT of £300, totalling £1,800
A Deed of Variation is used to amend the Will to vary its terms and direct a beneficiary’s inheritance elsewhere. It is very useful for inheritance tax planning or to benefit someone the testator may not have included in their Will. It can include a trust which requires more specialist drafting and advice.
Organise advice regarding investing funds for a minor
Fixed fee of £850 plus VAT of £170, totalling £1,020
Sometimes a beneficiary is under 18 or the specified age of inheritance in the Will. Their inheritance needs to be invested for them. We will organise independent financial advice and complete the relevant forms and transfer the funds for the trustees.
Deed of Appointment to terminate Discretionary Trust
Fixed fee of £595 plus VAT of £119, totalling £714.
Wills that were created prior to 2007 often left a sum equivalent to the Nil Rate Band to a Discretionary Trust on the first death for Inheritance Tax planning reasons. These trusts are often no longer needed but they need to be dissolved. The Deed of Appointment does this.
We will assess the value of the estate, advise the trustees of the tax implications and prepare the Deed of Appointment.
CG34 Procedure
Fixed fee of £600 plus VAT of £120, totalling £720
Sometimes a value is submitted for Probate purposes for a property and it sells for a much higher price. The value needs to be agreed with HMRC for Capital Gains Tax purposes. We will complete the form and negotiate on your behalf.
Memorandum of Appropriation
Fixed fee of £300 plus VAT of £60, totalling £360
If a property sells at a gain, as against the value submitted for inheritance tax purposes, Capital Gains Tax is payable on the gain. It is possible to reduce the amount payable by appropriating the property prior to sale to the beneficiaries to use their annual exemptions. The estate only has one annual exemption, so the appropriation accesses the beneficiaries’. In addition if the beneficiary is a charity, they are exempt from paying Capital Gains Tax.
Tracing missing Beneficiaries
Fixed fee of £300 plus VAT of £60, totalling £360
If a Beneficiary named in a Will is missing it is necessary to instruct a firm of genealogists to trace the missing beneficiary. If they cannot be located, we will obtain missing Beneficiary Insurance.
Establishing Beneficiaries entitled under intestacy
Fixed fee of £500 plus VAT of £100, totalling £600
Sometimes it is obvious who is entitled to inherit under an intestacy, but sometimes it can be quite complicated. If so, we will instruct a firm of genealogists to prepare a family tree and locate the beneficiaries. We will also organise insurance to protect the administrators as extra risk protection.
Organising comprehensive probate insurance
Fixed fee of £600 plus VAT of £120, totalling £720
If executors wish to distribute the estate within the 6-month claim period, we can organise insurance through a broker to protect the executors should a claim be forthcoming in the future.
Organising missing share certificate countersignature
Fixed fee of £600 plus VAT of £120, totalling £720
If there is a missing share certificate for shares valued over £50,000, the registrars require an insurer’s counter signature on a letter of indemnity. We can organise this for you.
DWP Investigation and claim
Hourly rate of £300 plus VAT of £60, totalling £360 per hour
The DWP are notified when a person dies. If the person was in receipt of any means tested benefits the DWP may investigate the assets in their estate at death to check that they are consistent with their records. If not, the DWP may have a claim against the estate for any overpaid benefits. They will request information for a specified period and calculate the benefit due for repayment. This usually takes a couple of hours of work so £600 plus VAT at £120, totalling £720. Most of the time is spent chasing the DWP as they take months to deal with any paperwork.
Beneficiary Disputes
Hourly rate of £300 plus VAT of £60, totalling £360 per hour
If the beneficiaries cannot agree on an issue, or additional work arises as a result of difficult relationships between beneficiaries, we will charge on an hourly rate basis. If necessary, we will refer the disputing parties for specialist contentious probate advice.
Specialist Grants:
Grant de Bonis Non
Fixed fee of £2,000 plus VAT of £400, totalling £2,400
For use where there is no chain of representation as it has been broken by executors renouncing.
Often needed by Land Registry where previous estates haven’t been fully administered and there is a chain of deaths.
Grant for someone domiciled abroad/reseal of foreign Grant
Fixed fee of £2,000 plus VAT of £400, totalling £2,400
If someone dies domiciled abroad with an asset in the UK requiring a Grant, we can obtain a specialist Grant for you so you can access the UK asset.
4) Complex Estates – Full Estate administration
Some Estates are more complex than others. Factors that add complexity are:
- The number of assets and complexity of assets
- Multiple properties
- Rental properties that require management and collection of rent
- Business interests requiring specialist valuation
- Shareholdings
- Specialist assets such as cars or antiques
- A higher value estate requiring income tax returns and Capital Gains Tax assessments
- Liabilities in the estate
- The solvency of the estate
- Whether there is a Will
- The Will drafting – home-made Wills can be more complicated to deal with
- The number of gifts under the terms of the Will
- The number of beneficiaries and their locations
- Whether any beneficiaries are missing and need to be traced
- Any international assets
- Whether the Grant of Probate or Will is likely to be contested
- The value of the estate and whether it is liable to Inheritance Tax
- Are any beneficiaries lacking capacity under the Mental Health Act or are minors
- Whether the Will contains a trust
- Whether any gifts were made in lifetime
- Any forensic work needed to create a family tree under intestacy
Where an estate is going to be complex, we will advise the executors at the outset and we will charge on the basis of our hourly rate.
Hourly rate: £300 plus VAT at £60 (£360)
We are required to verify the executors’, residuary beneficiaries’ and legatees’ identities – this is an additional fee of £30 plus VAT of £6, totalling £36 a person.
Where we pay any Inheritance Tax or make distributions to beneficiaries we will charge an electronic transfer fee of £30 plus VAT of £6, totalling £36 per payment.
Our service will include:
- Retrieve the original Will from another firm’s safekeeping if required
- Organise missing Will search if required
- Consider the terms of the Will and advise the executors. If an Intestacy, consider the Intestacy Rules and establish who the beneficiaries are
- Meet with the executors/administrators to answer any queries and to go through the deceased’s paperwork together
- Regular email updates and telephone calls
- Notify beneficiaries and legatees of their entitlement under the Will or Intestacy Rules
- Organise Estate Search’s premium asset search including digital asset search
- Organise Trustee Act notices if required
- Complete ‘Tell Us Once’
- Notify all companies of the death and obtain valuations
- Organise valuations of shareholdings in private companies
- Organise valuations of multiple properties
- Collect rent and manage any properties that are let through letting agents
- Organise property insurance through insurance broker
- Liaise with company accountants
- Organise income tax return to date of death if required
- Return LPA to OPG for cancellation
- Prepare Estate Valuation
- Assess Inheritance Tax and claim transferable Nil Rate Bands and Residence Nil Rate Band
- Calculate Inheritance Tax and organise payment
- Complete Legal Statement
- Correspondence with HMCTS
- Obtain the Grant of Probate or Grant of Letters of Administration
- Advise executors/administrators of claim periods
- Provide regular updates to beneficiaries and legatees
- Register Grant with companies and organise transfer/sale of assets
- Consider Capital Gains Tax consequences prior to any sales
- Organise memorandum of appropriation if required
- Prepare Estate Accounts
- Claim Inheritance Tax Loss Reliefs
- Complete Corrective Account for Inheritance Tax
- Liaise with HMRC Inheritance Tax
- Organise administration period income tax returns
- Organise payment of estate’s liabilities
- Organise payment of legacies
- Organise interim and final distributions to residuary beneficiaries
- Advise executors/administrators throughout
What is not included:
- Registration of the death – we charge an additional fee for this service
- Deed of Appointment to terminate a Nil Rate Band Discretionary Trust – we will advise you if the Will contains a trust. We charge an additional fee for this service.
- Deed of Variation – we charge an additional fee for this service.
- Income tax and Capital Gains tax returns – we can organise with a recommended chartered accountant if required.
- Transfer of Ownership of property, or conveyancing if a property is to be sold. We do not provide a conveyancing service, however we can organise quotes from recommended conveyancers.
Price:
On average, this type of estate takes between 30 - 100 hours to do, so likely costs are between £9,000 plus VAT of £1,800, totalling £10,800, and £30,000 plus VAT of £6,000, totalling £36,000.
The exact number of hours it will take to do the work depends on what the estate administration involves. We will advise you and agree our fees with you prior to commencing any work.
The legal fees are payable from the estate.
Timeframe:
A Grant of Probate can usually be obtained within 3 – 6 months of our initial meeting. The administration itself could take a further 6 months – 12 months depending on how quickly assets sell.
If there is a claim against the estate this could take a year or two to resolve and this will determine when the estate can be finalised.
If a property takes a couple of years to sell, that will determine when the estate can be finalised.
Disbursements (payments to third parties):
H M Land Registry – Official Copy Entries £7.00 per copy plus VAT of £1.40, totalling £8.40 per copy. This is to check the title to any property held by the deceased.
H M Land Registry – Bankruptcy search £6.00 per search plus VAT of £1.20, totalling £7.20 per search. This is to check that the deceased was not registered as bankrupt. We will also carry out bankruptcy searches for any distribution over £2,000 to a beneficiary.
Estate Search – Overseas bankruptcy search - £50 plus VAT of £10, totalling £60. This is to check that any overseas beneficiaries are not bankrupt before any distribution over £2,000 is made to them.
Estate Search – Missing Will Search - £349.00 plus VAT of £69.80, totalling £418.80. This service conducts a thorough search for any Wills, including the Probate Depository Service.
Estate Search Financial Profile Premium Search - £210.00 plus VAT of £42.00, totalling £252.00. This is an asset and liability search which identifies live, online, lost and dormant accounts.
Trustee Act notices:
London Gazette - £117.60 plus VAT of £23.52, totalling £141.12.
Local paper – dependent on local paper’s pricing.
These are to advertise for unknown creditors or illegitimate children.
Probate Registry Fees:
Probate Registry fee - £526. This is the Probate Registry’s fee to process the application for the Grant of Probate/Letters of Administration.
Sealed copies of the Grant - £16 each. This is the Probate Registry’s fee for sealed copies of the Grant. These are presented to the various organisations to prove who the Executors/Administrators are. As a general guide, one copy is required for each organisation the deceased had assets with or asset itself.
Inheritance tax may be payable. Details of how Inheritance Tax works can be seen on the .Gov website at https://www.gov.uk/inheritance-tax If you instruct us, we will calculate this for you.
Example Scenarios and Prices
Below are fictional scenarios created to provide an indication of our pricing for different types of estate.
Every estate is unique, in the same way that every person’s circumstances are unique. We will always provide you with a detailed quote to approve before we start any work.
5) Example Scenario A: Grant of Probate service, simple estate
A straightforward estate including one residential property, two bank accounts, Premium Bonds and a life assurance policy. No Inheritance Tax payable as the estate was valued at £400,000 and therefore covered by the transferable Nil Rate Bands.
Work required:
- Meeting with the executors to discuss the estate administration process, answer any queries and to go through the deceased’s paperwork.
- Consider the deceased’s Will
- Notify all companies of the deceased’s death and obtain valuations of the underlying accounts and assets and liabilities.
- Valuation of the Estate
- Emails and telephone calls
- Drafting and submitting the Legal Statement to the Probate Registry
- Obtaining the Grant of Probate and 4 sealed copies
Legal fees, all fixed-fee basis:
Grant of Probate service: £1,500 plus VAT of £300, totalling £1,800
Identification fee: 2x individuals (executors) at £30 plus VAT of £6 each, totalling £72
Total payable to R J Padgett Limited: £1,560 plus VAT of £312, totalling £1,872
Disbursements and third-party costs:
Land Registry – Official Copy Entries and title plan. 2 x £7 plus VAT of £1.40, totalling £16.80
Land Registry – Bankruptcy search. £6 plus VAT of £1.20, totalling £7.20
Probate Registry fee (with 1 sealed copy of Grant): £526 no VAT.
3x Additional sealed copies of the Grant of Probate: £16, no VAT, each, totalling £48
Total disbursements and third-party costs: £594 plus VAT of £4, totalling £598
These fees are payable from the estate.
6) Example Scenario B:
Grant of Probate service, more complex estate
A more complex Estate with a high value residential property, investment portfolio, multiple bank accounts, Premium Bonds and Income Bonds. The Estate is worth £950,000 although Inheritance Tax is not payable as the executors can claim the Nil Rate Band, the transferable Nil Rate Band and both Residence Nil Rate Bands.
There are three executors. One executor wishes to renounce. The remaining executors will administer the Estate themselves.
Work required:
- Meeting with the deceased’s children to discuss the Estate administration process, answer any queries and to go through the deceased’s paperwork. The Executors had already registered the death and provided a copy of the deceased’s wife’s Will, death certificate and their marriage certificate.
- The deceased’s Will is at another firm so request original Will and documents held by that firm
- Consider the deceased’s Will
- Notify all companies of the deceased’s death and obtain valuations of the underlying accounts and assets and liabilities
- Organise 3 valuations of the deceased’s property
- Notify property insurer and utility providers
- Valuation of the Estate to include assessment of Inheritance Tax
- Emails and telephone calls
- Correspondence with Executor wishing to renounce and explaining options
- Preparation of PA15 for one executor to renounce
- Advise regarding asset searches and Trustee Act notices
- Organise Estate Search Financial Profile Premium Search to check for dormant accounts or unknown accounts, including online accounts
- Drafting and submitting the Legal Statement to the Probate Registry
- Obtaining the Grant of Probate and 5 sealed copies
Legal fees, all fixed-fee basis:
Grant of Probate service: £2,000 plus VAT of £400, totalling £2,400
PA15 service for one executor: £100 plus VAT of £20, totalling £120
Identification fee: 3x individuals (executors) at £30 plus VAT of £6 each, totalling £108
Total payable to R J Padgett Limited: £2,190 plus VAT of £438, totalling £2,628
Disbursements and third-party costs:
Land Registry – Bankruptcy search: £6 plus VAT of £1.20, totalling £7.20
Land Registry – Official Copy Entries and title plan: £14 plus VAT of £2.80, totalling £16.80
Estate Search – financial profile search: £210 plus VAT of £42, totalling £252
Probate Registry fee (with 1 sealed copy of Grant): £526 no VAT.
4x Additional sealed copies of the Grant of Probate: £16, no VAT, each, totalling £64
Total disbursements and third-party costs: £820.00 plus VAT of £46, totalling £866.00
These fees are payable from the estate.
7) Example Scenario C:
Grant of Probate service, high value estate passing to spouse
A high value Estate of £1.5 million, passing entirely to the surviving spouse, who is also the Executor. Most assets held in joint names. A Grant of Probate is required to transfer the deceased’s investments held in an ISA account to the surviving spouse. There is no Inheritance Tax as the Estate is covered by spouse exemption.
Work required:
- Meeting with the surviving spouse to discuss the Estate administration process, answer any queries and to go through the deceased’s paperwork. Death already registered by spouse, who provides the deceased’s original Will, death certificate and their marriage certificate
- Consider the deceased’s Will
- Notify all companies of the deceased’s death and obtain valuations of the underlying accounts and assets and liabilities
- Valuation of the Estate
- Emails and telephone calls
- Advise regarding asset searches and Trustee Act notices – spouse decides not to carry these out
- Draft and submit the Legal Statement to the Probate Registry
- Obtain the Grant of Probate and 1 additional sealed copy to provide to the investment manager
Legal fees, all fixed-fee basis:
Grant of Probate service: £1,500 plus VAT of £300, totalling £1,800
Identification fee: 1x individual (executors) at £30 plus VAT of £6 each, totalling £36
Total payable to R J Padgett Limited: £1,530 plus VAT of £306, totalling £1,836
Disbursements and third-party costs:
Land Registry – Official Copy Entries. £7 plus VAT of £1.40, totalling £8.40
Land Registry – Bankruptcy search. £6 plus VAT of £1.20, totalling £7.20
Probate Registry fee (with 1 sealed copy of Grant): £526 no VAT.
1x Additional sealed copy of the Grant of Probate: £16, no VAT.
Total disbursements and third-party costs: £555 plus VAT of £2.60, totalling £557.60
These fees are payable from the estate.
8) Example Scenario D:
Administration of Estate service, simple estate
A simple estate passing to the deceased’s two children, who are executors and beneficiaries. There are three pecuniary legacies to the deceased’s grandchildren who are all over 18. The estate comprises the deceased’s residential property, two bank accounts and a shareholding. The estate is valued at £850,000. Inheritance Tax is not payable as the estate is covered by the deceased’s Nil Rate Band, Residential Nil Rate Band and the transferable Nil Rate Bands from the deceased’s wife.
Work required:
- Meeting with the Executors to discuss the Estate administration process, answer any queries and to go through the deceased’s paperwork. Death already registered by executors, who provides the deceased’s original Will, death certificate and their marriage certificate
- Consider the deceased’s Will
- Notify all companies of the deceased’s death and obtain valuations of the underlying accounts and assets and liabilities
- Complete ‘Tell Us Once’ service
- Valuation of the Estate
- Obtain three valuations of the deceased property
- Update the utility providers and house insurer
- Emails and telephone calls
- Advise regarding asset searches and Trustee Act notices but Executors decide to go without these searches
- Advise Executors about timing for marketing the property
- Drafting and submitting the Legal Statement to the Probate Registry
- Obtaining the Grant of Probate and 3 additional sealed copies
- Completion of forms to sell shareholding and close bank accounts
- Register the Grant with the council and encash assets
- Organise payment of Estate liabilities
- Liaise with conveyancer instructed to sell property
- Consider whether sale price will trigger Capital Gains Tax
- Preparation of Estate Accounts
- Finalise utility accounts, cancel insurance and notify council of sale of property
- Organise payment of legacies
- Organise interim distributions to residuary beneficiaries
- Assess administration period income tax and notify HMRC
- Organise payment of income tax
- Finalise Estate Accounts and circulate for approval by executors
- Organise final distributions
Legal fees, all fixed-fee basis:
Administration of estate service: £3,500 plus VAT of £700, totalling £4,200
Identification fee: 5x individuals (2x executors/residuary beneficiaries, 3x legatees) at £30 plus VAT of £6 each, totalling £180
Electronic transfer fees: for distributions to legatees and beneficiaries x7 (3x legacy payments and 2x distributions to each beneficiary) at £40 plus VAT of £8 each, totalling £336
Total payable to R J Padgett Limited: £3,930 plus VAT of £786, totalling £4,716
Disbursements and third-party costs:
Land Registry – Official Copy Entries and title plan. £14 plus VAT of £2.80, totalling £16.80
Land Registry – Bankruptcy search x5 (for deceased and each distribution to residuary beneficiaries) £6 plus VAT of £1.20, totalling £36
Probate Registry fee (with 1 sealed copy of Grant): £526 no VAT.
3x Additional sealed copy of the Grant of Probate: £16, no VAT, totalling £48
Conveyancing fee for sale of property – Estimated: £1,000 plus VAT of £200, totalling £1,200
Total disbursements and third-party costs: £1,618 plus VAT of £208.80, totalling £1,826.80
These fees are payable from the estate.
9) Example Scenario E:
Administration of Estate service, more complex estate, missing Will
A more complex estate with one residential property, a bank account, an investment account and some Premium Bonds. The estate is valued at £695,000. Inheritance Tax of £18,000 is payable from the estate.
A Will cannot be located. There is very little paperwork available concerning the deceased’s affairs. The deceased was widowed and did not have any children. She is survived by her nephews and nieces, some of whom cannot be traced. R J Padgett Limited is instructed by one of the deceased’s nieces. 8 nieces and nephews are eventually traced.
Work required:
- Meeting with the deceased’s niece to discuss the estate administration process, the deceased’s family situation, answer any queries and to go through the deceased’s paperwork. Death registered by the niece who provides a copy of the deceased’s death certificate and marriage certificate.
- Organise Trustee Act notices
- Organise Estate Search – financial profile premium search
- Organise Estate Search Missing Will search
- Obtain quotes and organise family tree to be prepared by firm of genealogists
- Consider genealogist’s report and provide copy to niece
- Correspond with all identified beneficiaries who agree niece should obtain Grant of Letters of Administration.
- Organise 3x valuations of the property
- Notify companies of deceased’s death and obtain valuations of bank accounts and investment account
- Notify house insurer and utility companies
- Prepare Estate Valuation and Inheritance Tax calculation
- Prepare full Inheritance Tax Account
- Organise payment of Inheritance Tax from bank account
- Correspond and telephone calls with beneficiaries and administrator
- Organise missing Beneficiary insurance policy through genealogists to protect administrator
- Prepare PA1A form and apply for Grant of Letters of Administration
- Obtain Grant with 4 additional sealed copies
- Prepare forms to close bank account and Premium Bonds account and sell investments
- Liaise with conveyancers acting in property sale
- Register Grant with council for council tax exemption
- Encash assets and organise payment of liabilities
- Preparation of Estate Accounts
- Submit claim for loss relief on sale of property to HMRC
- Organise interim distributions to beneficiaries
- Assess administration period income tax and notify HMRC
- Organise payment of income tax
- Circulate Estate Accounts to administrator and beneficiaries to approve
- Organise final distributions and winding up of estate
Legal fees, all fixed-fee basis:
Administration of estate service: £5,000 plus VAT of £1,000, totalling £6,000
Identification fee: 8x individuals (beneficiaries) at £30 plus VAT of £6 each, totalling £288
Full Inheritance Tax Account: £500 plus VAT of £100, totalling £600
Establishing intestacy beneficiaries’ fee: £500 plus VAT of £100, totalling £600
Electronic transfer fees: for distributions to beneficiaries x16 (2x distributions to each beneficiary) at £40 plus VAT of £8 each, totalling £768
Total payable to R J Padgett Limited: £6,880 plus VAT of £1,376, totalling £8,256
Disbursements and third-party costs:
Land Registry – Bankruptcy search x17 (for deceased and each distribution to residuary beneficiaries) £6 plus VAT of £1.20, totalling £122.40
Land Registry – Official Copy Entry and Title Plan. £14 plus VAT of £2.80, totalling £16.80
Trustee Act notice – London Gazette: £117.60 plus VAT of £23.52, totalling £141.12
Trustee Act notice – local paper – Estimated £100 plus VAT of £20, totalling £120
Estate Search: Missing Will search £349.00 plus VAT of £69.80, totalling £418.80
Estate Search: Financial profile £210 plus VAT of £42, totalling £252
Probate Registry fee (with 1 sealed copy of Grant): £526 no VAT
4x Additional sealed copy of the Grant of Probate: £16, no VAT, totalling £64
Conveyancing fee for sale of property – Estimated: £1,000 plus VAT of £200, totalling £1,200
Total disbursements and third-party costs: £2,434.60 plus VAT of £378.52, totalling £2,813.12
These fees are payable from the estate.
Additionally; Missing beneficiary insurance at cost TBC
10) Example Scenario F:
Administration of Estate service, complex estate with two residential properties, a business, and investment portfolio
A complex estate with two residential properties (one of which is let out by a letting agent), a business (£500,000) on which Business Property Relief can be claimed, three bank accounts and a large investment portfolio (£2 million), totalling £5 million. The estate is liable to Inheritance Tax of £1,670,000 and passes to 7 beneficiaries, 1 of whom lives overseas.
Work required:
- Meeting with the deceased’s executors to discuss the estate administration process, discuss the deceased’s marital status, answer any queries and to go through the deceased’s paperwork. Death already registered by the executors who provide a copy of the deceased’s death certificate and original Will.
- Organise Trustee Act notices
- Organise Estate Search – financial profile premium search
- Correspond with all beneficiaries
- Regular updates by email & telephone
- Organise 3 valuations of both properties
- Liaise with letting agent
- Check insurance for both properties and notify insurers
- Organise tax return to date of death
- Notify companies of deceased’s death and obtain valuations of bank accounts and investment account
- Liaise with company accountant and organise valuation of deceased’s share holding
- Notify house insurer and utility companies
- Prepare Estate Valuation and Inheritance Tax calculation
- Prepare full Inheritance Tax Account
- Organise payment of Inheritance Tax from investment portfolio
- Prepare Legal Statement and apply for Grant of Probate
- Obtain Grant with 6x additional sealed copies
- Prepare forms to close bank accounts and sell remaining investments
- Liaise with conveyancers acting in property sales
- Register Grant with council for council tax exemption
- Encash assets and organise payment of liabilities
- Organise administration period income tax returns
- Assess capital gains on sales of investments and properties
- Preparation of Estate Accounts
- Organise interim distributions to beneficiaries
- Circulate Estate Accounts to executors and beneficiaries to approve
- Organise final distributions and winding up of estate
Legal fees charged on the basis of time spent, hourly rate:
Rebecca’s hourly rate is £300 plus VAT of £60, totalling £360.
Rebecca spends 60 hours working on the Estate – totalling £18,000 plus VAT of £3,600, totalling £21,600.
The total legal fees are £18,000 plus VAT of £3,600, totalling £21,600.
Legal fees total:
Administration of estate service: 60x hours at £300+VAT/hr = £18,000 plus VAT of £3,600, totalling £21,600
Identification fee: 7x individuals (beneficiaries) at £30 plus VAT of £6 each, totalling £252
Electronic transfer fees: for distributions to beneficiaries x14 (2x distributions to each beneficiary), plus 1x to pay Inheritance Tax, 15 in total at £40 plus VAT of £8 each, totalling £720
Total payable to R J Padgett Limited: £18,810 plus VAT of £3,762, totalling £22,572
Disbursements and third-party costs:
Land Registry – Bankruptcy search x15 (1x for deceased and 2x distribution to 7x residuary beneficiaries) £6 plus VAT of £1.20 each, totalling £108
Overseas Bankruptcy search x2, £60 plus VAT of £12 each, totalling £144
Land Registry – Official Copy Entry and Title Plan. £14 plus VAT of £2.80, totalling £16.80
Trustee Act notice – London Gazette: £117.60 plus VAT of £23.52, totalling £141.12
Trustee Act notice – local paper – Estimated £100 plus VAT of £20, totalling £120
Estate Search: Financial profile £210 plus VAT of £42, totalling £252
Probate Registry fee (with 1 sealed copy of Grant): £526 no VAT.
6x Additional sealed copy of the Grant of Probate: £16, no VAT, totalling £96
Conveyancing fee for sale of property – Estimated: £3,000 plus VAT of £600, totalling £3,600
Total disbursements and third-party costs: £4273.60 plus VAT of £731.32, totalling £5,004.92
These fees are payable from the estate.
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