The probate process involves transferring the assets of the deceased to their executors or administrators depending upon whether the deceased made a Will.
In both circumstances we offer advice and assistance to Executors and Administrators. We also advise on who can apply for letters of administration in the event the deceased left no will. If the deceased’s assets are greater than £20,000 an executor or administrator cannot deal with those assets until a grant of probate or letters of administration have been obtained.
We advise clients throughout the whole process to ensure the assets of the deceased are distributed in accordance with their wishes or the law.
Probate – Price and Service Information
Our fees in dealing with probate and estate administration are based on the time spent on the matter. These charges are subject to VAT and do not include disbursements relating to the work which are also payable. Our current standard hourly rates are as follows (exclusive of VAT):
Partners £395 to £550
Consultants £300 to £350
Associates £250 to £275
Trainee Solicitors £175
We anticipate that a standard, straightforward UK estates typically leads to an overall charge falling within the range of £5,000 to £10,000 (plus VAT and disbursements).
It may be necessary to revise an initial estimate as matters develop, in which case we will inform you.
A standard, straightforward estate is one where:
Disbursements: the typical disbursements payable on a standard straightforward estate are:
Potential additional costs:
On average, estates that fall within this range are dealt with within six to twelve months. Typically, it takes four to five months to obtain the Grant of Representation. Collecting assets then follows, further to which any legacies can be dealt with and the liabilities of the estate discharged, which can take between two to four months. Following this, the appropriate tax clearances need to be obtained and estate accounts prepared and approved before the balance can be distributed to the residual beneficiaries.