Transparency Pricing Information

(Probate and estate adminstration)

Probate pricing

At Leeds Day, we offer a range of probate services so that our clients can decide which option will best suit them. We can offer the following:

  • A full service acting on the executor’s instructions where we deal with all aspects of the estate administration on behalf of our clients.

  • We are often appointed as the executors and trustees of the estate and will take the responsibility of dealing with the full administration of the estate.

  • Assisting with other specific aspects of the estate administration if our clients wish us to.

  • A fixed fee ‘grant of probate only’ service where we obtain the grant of probate for our clients and prepare any necessary inheritance tax paperwork on the basis that they will then deal with the administration of the estate themselves.

Our Probate costs shall be such sum as may be fair and reasonable having regard to all the circumstances of the case and in particular to the following factors:

  • the complexity of the matter or the difficulty or novelty of the questions raised;

  • the skill, specialised knowledge and responsibility involved;

  • the time spent;

  • the number and importance of the documents prepared, or perused, without regard to length; and

  • the amount or value of any money or property involved.

 For administering an estate in full

Our charges include meeting with you and others as necessary, considering and preparing paperwork, correspondence and telephone calls.

For administering an estate in full, this would involve collecting information for the application for the grant of probate, preparing Inheritance Tax accounts and applying for the grant of probate, collecting and distributing the assets.

Costs of dealing with Probate are normally on average between 1.5% - 2.5% of the gross value of the estate + VAT.

The following charges apply where there:

  • is a valid Will;

  • are no disputes between beneficiaries on the division of assets (if disputes arise this is likely to lead to an increase in costs);

  • are no claims made against the estate;

  • are no foreign assets;

  • are no more than 10 bank or building society accounts;

  • are no other intangible assets; and

  • are fewer than 8 beneficiaries.

We estimate that our fees in these types of cases will be as follows (based on the value of the estate):

£100,000 - £200,000:  £2000 to £5,000 + VAT

£300,000:  £4,500 to £7,500 + VAT;

£400,000: £6,000 to £10,000 + VAT;

£500,000: £7,500 to £12,500 + VAT;

£1,000,000: £15,000 to £25,000 + VAT.

The exact cost will depend on the individual circumstances of the matter.  For example, if there is one beneficiary, no property and no inheritance tax liability, costs will be at the lower end of the range.  If there are multiple beneficiaries, a number of properties, multiple bank accounts and other investments, business interests and inheritance tax is payable, costs will be at the higher end.

The costs information provided above is for general use and we will provide more precise and personalised costs information when we receive an enquiry for us to act on a probate matter.

Disbursements

Disbursements are costs related to your matter that are payable to third parties, such as Probate Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

  • Probate application fee of £300 and £1.50 for each additional copy requested

  • Bankruptcy-only Land Charges Department searches (£2 per beneficiary)

  • Land Registry search if there is a property (£3 per search)

  • Roughly £300 for the placement of Statutory Notice fee placed in The London Gazette and a local newspaper.  This fee is dependent upon the quote provided by the paper most local to the deceased, and is changeable.  This can protect executors from liability for unexpected claims from unknown creditors.

  • Banking charges £40 + VAT for telegraphic transfer.

How long will this take?

On average, for a simple case we aim to complete the administration within 8 - 14 months. Typically, obtaining the grant of probate takes 6 - 12 months from the point we are instructed.  These time estimates are for guidance only and vary depending upon the work involved.

 

Fixed fee for obtaining a grant of probate only

We can help with this process by obtaining the grant of probate so that our clients can deal with the rest of the administration of the estate personally. Our clients will supply us with details of the assets and liabilities of the estate to enable us to apply for the grant of probate for them.  If the information supplied is incorrect or if circumstances change and further assets are found, additional charges may apply.

How much does this service cost?

The pricing details below relate to estates where there:

  • is a valid Will or a simple intestacy (where there is no Will); and

  • is no inheritance tax payable and the executors do not need to submit a full account to HM Revenue and Customs

A fixed fee of £1,500 plus VAT and disbursements (see above).  On average, cases that fall within this category are dealt with within 3 - 6 months.

If inheritance tax is payable, or if a full tax return is required, additional fees will apply and the case will take longer to complete.  We will give you an estimate based on the number of assets involved and the complexity of the case.

Factors that can increase the costs of the administration of an estate

  • If the terms of the Will are not clear or it is a complicated intestacy and beneficiaries must be traced;

  • If inheritance tax is payable and arrangements need to be made for the payment of the tax;

  • If there are disputes between beneficiaries;

  • If there are claims made against the estate by a third party;

  • If there are assets outside the UK;

  • If we are required to arrange the funeral, clearance of a property and/or the marketing of a property for sale.

As part of our fees, we will:

  • provide you with a dedicated and experienced probate solicitor or legal executive to work on your matter;

  • identify the legally appointed executors or administrators and beneficiaries;

  • accurately identify the type of grant application you will require;

  • obtain the relevant documents required to make the application;

  • complete the grant application and the relevant HM Revenue and Customs forms;

  • make the application to the Probate Registry on your behalf;

  • obtain the grant of probate and securely send copies to you;

  • collect and distribute all assets in the estate (if we are administering an estate in full).