It is important to differentiate between legal fees, and those costs that an estate will incur in any event.
We offer a free initial meeting which is always the best place to start. We’ll take you through everything that is involved. We’ll also be able to find out more details on your particular estate to give a costs estimate which is specific to you.
If you would like our help with just the probate application where there is no inheritance tax payable, our fee is fixed at £750 + VAT (£900 inc VAT). If there is no inheritance tax payable, but unused residential nil rate bands available either on the estate or to be transferred over from a spouse’s estate, our fee is £850 + VAT (it’s also a fixed fee) (£1,020 inc VAT).
Where you would like us to complete the probate application and there is inheritance tax payable, a full return is needed or you are applying for the grant of probate on someone else’s behalf (eg as an attorney) we charge on an hourly basis. Roughly speaking our fees are generally £1,500 – £2,500 + VAT (£1,800 – £3,000 inc VAT) depending on what exactly is involved for your application.
Our hourly rates vary depending on the qualification and experience of the person looking after you. Our current hourly rates are:-
£135 + VAT – Katie
£275 + VAT – Louise
£350 + VAT – Neil
If you would like our help with everything from start to finish we can do this. Our fees will depend how many assets there are, how many beneficiaries, the size of the estate, whether there is inheritance tax payable along with if there are any other complicating factors (eg an invalid will, a claim against the estate).
There are two ways we charge. If the estate is straight forward (for example, but not limiting to, a will, no inheritance tax payable) we charge on an hourly basis. It is very hard to estimate how long an estate would take as some estates may have 1 bank account and others 20 different share holdings. Some estates may have 1 beneficiary and others 15. For an estate where there is a couple of assets (bank accounts or shares), a property, no inheritance tax payable and one or two beneficiaries our fees could be £4,000 – £5,000 + VAT (£4,800 – £6,000 inc VAT). If there are many beneficiaries and assets then this will take longer and could be £5,000 – £8,500 + VAT (£6,000 – £10,200 inc VAT).
Where the estate is large or complex, we might charge on a ‘time plus value’ basis. This is where we charge for the work we do (the ‘time’ element) plus a percentage of the estate (‘value’). The percentage will not exceed the guidance from our regulator of 1.5%.
As with any aspect of legal advice we provide a specific tailored costs estimate for you from the outset. If you have any questions as to what our fees could be for your estate please do contact us on 03300 020 863 or wills@Qlaw.co.uk.
Are there any other costs involved?
The court fee for the application is currently £155. If you require further copies of the grant of probate to send people they will be £1.50 each. There is no VAT on court fees.
Occasionally accountants will become involved for complex tax affairs where it is more cost effective to use an accountant. We will obtain a quote first before they go ahead. If you have an accountant we can of course use them.
There may also be some companies who pay for valuations eg estate agents or auctioneers. Always asked for a quote before they complete the work.