We provide two services:
We offer fixed fees for both these services, providing you with certainty and peace of mind. Our fixed fees are based on the complexity of the matter.
We have the expertise to advise on and administer estates from the straightforward non-taxable estates through to taxable multi-million-pound estates.
Every estate is different, which is why we will always provide you with a tailored quote for your individual matter. To give you a general indication of the costs, we have set out below the likely costs in a number of different scenarios.
With this service we will help you by completing the application and applying for the Grant of Probate or Grant of Letters of Administration, as appropriate. We will also complete the Inheritance Tax Return if required. You will need to provide us with full details of the estate to enable us to do this and you will be responsible for the administration of the estate.
Our fees for this service generally range between £1,750 and £2,500 plus VAT at 20%, for estates where no Inheritance Tax is payable and between £2,500 and £5,000 plus VAT at 20%, for estates where Inheritance Tax is payable.
The exact cost will depend on the individual circumstances of the matter. In addition to the above costs, relevant disbursements will also be payable. Disbursements are costs related to your matter that are payable to third parties, such as Probate Registry fees.
As well as completing the application, applying for the Grant of Probate or Grant of Letters of Administration, as appropriate and completing the Inheritance Tax Return if required. We will also undertake the administration of the estate for you. This will include collecting in the assets, preparing the Estate Accounts and distributing the estate to the beneficiaries.
The exact cost will depend on the individual circumstances of the matter. We will always provide you with a tailored fixed fee quote for your individual matter. Usually, our fees will be paid from the estate.
We have set out below some examples to give you a general indication of the likely costs in a number of different scenarios. In the examples below we have provided values of estates by way of illustration. We always base our fixed fees on the complexity of the matter. Whilst complexity may increase with value this is not always the case.
In all the examples below the following assumptions apply:
The estate consists of one property and two bank or building society accounts. There is one beneficiary. There is no Inheritance Tax payable and the executors do not need to submit a full account to HMRC. Our fees for this estate would be £3,200 plus VAT at 20%.
The estate consists of one property and five bank or building society accounts. There are four beneficiaries. There is no Inheritance Tax payable and the executors do not need to submit a full account to HMRC. Our fees for this estate would be £7,000 plus VAT at 20%.
The estate consists of two properties, six bank or building society accounts and a few investments. There are six beneficiaries. Inheritance Tax is payable and a full Inheritance Tax account has to be submitted to HMRC. Our fees for this estate would be £15,000 plus VAT at 20%.
The estate consists of four properties, eight bank or building society accounts and several investments. There are eight beneficiaries. Inheritance Tax is payable and a full Inheritance Tax account has to be submitted to HMRC. Our fees for this estate would be £30,000 plus VAT at 20%.
In addition to our fees, disbursements will also be payable. 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.
Typical disbursements (including VAT at 20% where applicable) that may be incurred:
Please note the above list is not exhaustive.
As part of our fixed fee, we will:
If any additional information or circumstances arise that were not known at the beginning of the matter, which increase the complexity of the estate. We may need to revise the original quote. If this situation arises, we would always discuss this with you prior to providing you with a revised quote.
On average, standard estates are dealt with within 6-12 months. Typically, obtaining the Grant of Probate takes 2-4 months (provided no Inheritance Tax is payable). It will take longer where Inheritance Tax is payable and/or a full Inheritance Tax Account has to be submitted to HMRC. Once the Grant is obtained the administration of the estate usually takes a further 4-8 months. More complex estates may exceed these timescales.
The time it takes depends on a number of factors including the complexity of the estate and the speed of response of other organisations such as banks, building societies, the Probate Registry and HMRC. We will provide you with regular updates during your matter.
We will provide you with a dedicated and experienced solicitor (at least 10 years qualified) to work on your matter. With experience in delivering high quality work in all matters relating to Wills and Estate Administration, from the straightforward non-taxable estates through to taxable multi-million-pound estates. They have particular expertise in high value estates and Inheritance Tax matters.
If you have a question or would like more information, please do not hesitate to contact us.
Call us on 01623 857 207, email: info@asquithmanners.co.uk or complete our online Enquiry Form.
Asquith Manners Solicitors is a trading name of Asquith Manners Limited. Registered in England and Wales with Company Number 12336089
Registered office: Hexgreave Hall, Upper Hexgreave, Farnsfield, Newark, Nottinghamshire NG22 8LS. VAT number 416 9244 88
Authorised and regulated by the Solicitors Regulation Authority. SRA number 811507
Asquith Manners Limited. All Rights Reserved