Estate Administration – our fees

Estate Administration

Every probate case is different and can involve a lot of complex work to identify all the assets involved and pay inheritance tax where applicable, so it makes sense to seek professional legal advice from a firm with a wealth of experience in dealing with probate.

We provide an initial free consultation and if possible we will give you a fixed fee once we know the full size and complexity of the estate.

 Costs:

Our range of fees are £4800-£6000 (incl. VAT) and involve a consultative approach with our solicitor who will utilise their knowledge and provide professional legal advice that will both add value to your estate and save you money in the long-run.

Other costs

These are costs related to your matter payable to third parties.  We handle these on your behalf to ensure a smoother process. These include:

  • Probate court fee – £155
  • Per official copy of the Grant – £0.50 (you will need several copies depending on the size of the estate)
  • Bankruptcy searches – £2 per beneficiary
  • Statutory advertisement (this protects against unexpected claims) – approx. £180
  • Certainty search – approx. £250

Our fees include:

  • Ascertaining the assets and liabilities of the estate
  • Calculating any inheritance tax due
  • Obtaining the Nil Rate Band (and Transferable Nil Rate Band if appropriate) for Inheritance Tax purposes
  • Obtaining the Residence Nil Rate Band (and Transferable Residence Nil Rate Band if appropriate) for Inheritance Tax purposes
  • Completing the IHT205 or IHT 400 Account for HM Revenue & Customs
  • Dealing with the insurance of the property or properties within the estate
  • Obtaining a Grant of Representation
  • Collecting the assets
  • Dealing with the shareholdings in accordance with your instructions
  • Paying debts, taxes and administration expenses
  • Selling assets, if necessary, to realise cash for the purpose of the administration;
  • Transferring the assets to those entitled
  • Dealing with the income tax affairs of the deceased for the tax year to the date of death
  • Producing estates accounts
  • Accounting to the beneficiaries

Our fees do not include:

  • Any disputes or claims against the estate or regarding the validity of the Will
  • The preparation of a Deed of Variation
  • Dealing with the tax affairs (other than those for the tax year to the date of death) including any Inland Revenue investigation
  • Any investigation by the Department for Work and Pensions
  • Any conveyancing fees incurred in dealing with the sale of estate property
  • Dealing with the deceased’s insolvency
  • The need for the executors to commence litigation proceedings against a third party
  • Monies transferred telegraphically to bank accounts

The fees for our service can vary depending on a number of factors including:

  • How many beneficiaries there are
  • If there are assets overseas
  • If there is any property to be sold or transferred
  • If there are multiple bank accounts
  • If there are any disputes about the division of assets or claims against the estate
  • If we need to deal with past years tax affairs
  • If there are trusts, lifetime gifts, significant shareholdings, business and agricultural assets, or discounted gift trusts involved

 Timescales:

The time taken to fully administer the estate depends on the full circumstances of the case; this typically takes up to 18 months but if we anticipate it taking longer we will discuss this with you.

If you would like further information or wish to receive advice, contact us now for a free consultation, completely without obligation. Call our Wills, Probate & Trusts lawyers on 0800 088 6280 or email enquiries@rotherasharp.co.uk

Listed below are the profiles of our Wills, Probate & Trusts team where you can find out more about their experience and qualifications. The team member assigned to your case will vary depending on your location and the complexity of your case.

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