Administration of Estates
Where a valid Will exists the application to the Court is for a Grant of Probate.
Where there is no Will, the Rules of Intestacy apply and the application to the Court is for a Grant of Letters of Administration. Estate administration where the Rules of Intestacy apply may be complex, we offer a bespoke service provided by specialists.
- Fixed Fee. Application for the Grant of Probate.
We offer the following service where there is a valid Will, the main residence only, where there is no dispute between executors/beneficiaries, where there are less than 6 bank or building society accounts and shareholdings, where there is no Inheritance Tax to pay and the executors have collated the details of the estate at the date of death.
Our fixed fee is £1,500 plus VAT and the following external expenses:
Probate Court Fee – £155
Official Copies of the Grant – £1.50
- Full Administration Service
To include, investigating and collating all relevant information relating to the estate to facilitate the application for the Grant of Probate or Letters of Administration, realising the assets, discharging the liabilities, accounting to HM Revenue & Customs, preparation of detailed Estate Accounts and distributing funds to the beneficiaries.
The administration will be dealt with by an experienced private Client Solicitor on a time spent basis, current hourly rates are £250 plus VAT. Our hourly rates are reviewed annually.
Any work carried out by an assistant is charged at £150 plus VAT.
Expenses in addition to those referred to above may include:
Bankruptcy Searches £2 per beneficiary and Land Registry fess of £3 per property.
International Bankruptcy Searches, costs of which are determined by the jurisdiction in which the search is undertaken.
There may also be Statutory Notice Fees, Certainty Will search fees, Lost Assets Search fees and if a property is to be valued for Inheritance Tax purposes, Surveyor’s Valuation fee.
Time costs for the administration of a non complex estate are typically in the region of £3,000 to £6,000 plus VAT. Exact costs are determined by the particular circumstances of the case. We keep clients fully updated on costs throughout the course of the matter.
Length of Administration Period
A standard estate administration, where there are no complicating factors can be completed within 10 to 12 months. However, it is important to bear in mind that estate administration includes the involvement of a number of third party agencies (financial institutions, the Probate Court and HM Revenue & Customs) who each have their own operating timeframes.