For applying for the grant, and the collection and distribution of the assets of the estate, we anticipate spending between 10 and 300 hours of work.
Work carried out by a Senior lawyer within this firm will be charged at an hourly rate of £375.00 plus VAT (£75) per hour (£450) plus Disbursements and paralegal work will be charged at an hourly rate of £150 plus VAT (£30) per hour (£180) plus Disbursements.
The exact cost will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property, costs will be at the lower end of the range. If there are multiple beneficiaries, a property, multiple bank accounts, investment portfolios, foreign assets, business assets, agricultural assets and a full Inheritance Tax return to submit to HMRC, then costs will be at the higher end.
We will handle the full process for you should you require it. This cost estimate is for estates where:
- There is a valid Will or the deceased died intestate.
- There is no more than one property.
- There are no multiple bank or building society accounts.
- There are intangible assets.
- There are 1-5 beneficiaries.
- There are no disputes between beneficiaries on the division of assets. If disputes arise, this is likely to lead to a significant increase in costs.
- There may be inheritance tax payable, and the executors may need to submit a full account to HMRC.
- There are no claims made against the estate.
- There is no litigation pending or about to commence whether against the estate or by the estate against others.
Please note that contentious probate will incur additional charges which are often likely to be significant if the case goes before a County Court or listed in Business and Property list at the High Court. In such a case, our charges will be subject to our hourly rates, (as amended from time to time) for every hour of work, which we are instructed/authorised to carry out on your behalf. Such charges will usually attract VAT and disbursements; such as court fees, counsel’s fees, expert fees and the applicable VAT at a prevailing rate unless you are not resident of the UK (in which Case you may be VAT exempt in respect of certain services). We will endeavour to give you a more accurate cost estimate upon learning about the issues which you are facing as it is extremely difficult to estimate the cost without the relevant fact being available to us.
Disbursements
Disbursements are costs related to your matter and are payable to third parties by you. These are often:
- If the value of the estate is below £5000 there are currently no Probate application fees – see https://www.gov.uk/applying-for-probate/fees
- Probate application fees of £273.00 (this may change from time to time).
£15 + VAT (£18) Swearing of the oath (per executor) plus £5 = VAT (£6) per exhibit. - Bankruptcy-only Land Charges Department searches (£2 + VAT per beneficiary).
- Trustee Act Notices circa £375 to £600 plus VAT (£450 – £720) (depending on the local paper used) posted in the London Gazette and a local newspaper – protects the executors against unexpected claims from unknown creditors.
- Court fees (if the probate becomes contentious). Please find the link to court fees https://www.gov.uk/court-fees-what-they-are
- Fees for expert reports – this attract VAT at the prevailing rate of 20%.
- Fees paid to a Barrister (or agent solicitors or solicitor-advocates) to represent you at a hearing (if the probate becomes contentious). Barrister’s fees for attending a hearing are estimated (not quote) at between £3000 – £5000 per day + VAT (£3,600- £6,000) for a one-day hearing excluding preparation time and conference. More complex cases attract higher fees. The fees charged depend on the experience of the advocates and the complexity of the case. Costs for more complex cases will be given on an individual basis once an appropriate advocate is identified to be instructed to assist with your case.
- If a property is to be sold, this will incur additional Conveyancing and agent’s costs etc.
VAT
All of our services attract VAT at the prevailing rate set by the government (currently set at 20%). If you are resident of a foreign jurisdiction and the dispute does not relate to a UK property you may be exempt from being charged UK VAT. You will need to take your own independent VAT advice of course.
However, probate registration fee and court fees do not attract VAT.
We handle the payment of the disbursements on your behalf to ensure a smooth process. You will either place the payable sums and VAT on account in our client account, or you will reimburse us for any disbursement which we pay on your behalf.
How long will this take?
On average, estates that fall within this range (straight forward) are dealt with within 12-18 months. Typically, obtaining the grant of probate takes 8 – 10 weeks. Collecting assets then follows, which can take up to 10 weeks (in fairly straight forward cases). Once this has been done, there is the distribution of the assets, which normally takes 6 – 12 weeks.
Other cases are governed by their complexity. We cannot predict how long it would take to resolve your matter.
Mr Omid Khub, who has at least eleven years of post-qualification experience, together with our team of paralegals, (and if so appropriate, including one or more of our consultant Solicitor(s) or a Barrister of various expertise and years of experience) would be handling your matter, if you so choose to instruct us, and would be able to elaborate further upon any enquiry that you may have. Your matter will always be conducted under Mr Omid Khub’s supervision unless through unforeseen circumstances this would not be possible, in which case we will notify you should this arise.