Probate Fees Taxable Estate

The following information is for obtaining a Grant of Probate/Letters of Administration only; Executors/Administrators will then deal with the administration of the estate after we have obtained the Grant. If you are looking for our fees on a non-Taxable Estate click here.

Taxable estates means estates over £325,000 where there is inheritance tax to pay.

This quote is for estates where:

• There is a valid will
• You provide full details of assets in the estate at the time of death
• There are no claims made against the estate

Costs:

The average cost for this is from £2995 + VAT at 20% giving a total cost of £3594.

We can usually offer a fixed fee for this service once we have assessed the complexity of the application, but in circumstances where we are not able to offer this, we will provide you with an estimate of anticipated total costs which will be based on an hourly rate and we would not exceed the estimate without advising you in advance.

The exact cost will depend on the individual circumstances of the matter. For example if there are foreign assets, trusts, lifetime gifts, significant shareholdings, business and/or agricultural assets, or discounted gift trusts involved.

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 – £300 -VAT-exempt
• Per official copy of the Grant – £1.50 -VAT-exempt (you will need several copies depending on the size of the estate)

Stages of process:

• Initial meeting to explain the process involved and obtain details about the estate
• Drafting a Legal Statement in support of application for the Grant
• Preparing relevant HMRC forms
• Obtaining grant of probate

Our fees include:

• Providing you with a dedicated and experienced probate lawyer to work on your matter
• Accurately identifying the type of probate application you require
• Completing the Probate Application and relevant HMRC forms
• Calculating any inheritance tax due
• Obtaining the transferable and residence nil rate band for Inheritance Tax purposes
• Drafting a Legal Statement to support your application for a Grant
• Completing the IHT 400 Account and supporting forms for HM Revenue & Customs
• Making the application to the Probate Registry
• Obtaining the Grant of Probate and holograph copies for your use

Our fees do not include:

• Whilst we will prepare the Inheritance Tax papers on your behalf and identify whether Inheritance Tax is likely to be payable, detailed advice on Inheritance Tax and any advice relating to Capital Gains Tax or other applicable taxes fall outside the scope of our instructions. If you consider that you may need this kind of advice, please speak to us.
• Advice on the legal validity or meaning of the Will
• Disputes or claims against the estate
• Advice relating to any further steps required to administer the estate
• Advice relating to the Executors appointment
• Where the deceased was domiciled abroad or there are significant foreign assets
• Registration/notification of death
• Organising valuations of assets in estate
• Dealing with any property related matters e.g. insurance, utilities, council tax
• Advertising of statutory notices
• Any conveyancing which may be required to deal with property in the estate
• Inheritance tax, income tax or capital gains tax issues
• Payment of any money gifts in the will
• Payment of debts and liabilities in the estate
• Collecting in assets and distributing them to beneficiaries
• Preparation of estate accounts
• Any estate expenses such as probate court fees, oath fees
• Advice in connection with variation of the estate
• Conduct of the matter where a dispute between the parties arises

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

• If there is no will or the estate consists of any share holdings (stocks or bonds)
• Transfer of Inheritance Tax nil rate band
• Transfer of Residence nil rate band

Timescales:

It usually takes two to four months from the date of instructions to be ready to apply for a Grant of Representation.

Once the application is submitted it can take the Probate Registry 16 weeks to issue a Grant, and for complex applications this can be significantly longer.