Probate Costs

Applying for the grant, collecting and distributing the assets

We put your unique interests at the heart of all we do and can guide you through every step of what can be a complicated and intimidating process.

Our fees are based upon the time we spend carrying out all the work this is required to administer the estate.  The time spent will include all the meetings we have with you and others, as well as time spent working on the estate, drafting documents, telephone calls, letters and travelling. VAT will be payable on our fees and some disbursements, currently 20%, and we will clearly confirm which disbursements carry VAT in our formal quotation or as we advise you to incur them.

We charge according to our hourly rate which will be provided to you at the outset of the matter.  This will be between £210.00 per hour plus VAT, (£252.00 per hour including VAT) and £300.00 per hour plus VAT, (£360.00 per hour including VAT).  This is dependent on the fee earner’s level of experience. We estimate that it will take in the region of 10 – 25 hours of work to administer the estate.  Our total costs are therefore estimated at £2,100 – £5, 250 plus VAT, totaling £2,520 – £6,300 including VAT and £3,000 – £7,500 plus VAT, totaling £3,600 – £9,000 including VAT.

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 and multiple bank accounts, costs will be at the higher end.

We will handle the full process for you.   This estimate is for estates where:

• There is a valid Will
• There is only one property
• There are no more than 5 bank or building society accounts
• There are no other types of assets such as stocks and shares or overseas 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 an increase in costs.
• There is no inheritance tax payable and the executors do not need to submit a full account to HMRC.
• There are no claims made against the estate

As well as our fees you must also pay for any expenses we incur on your behalf.  These expenses are called “disbursements” and sometimes attract VAT.

The following disbursements are commonly payable in addition to this fee:

• Probate application fee of £300
• Copies of grant at £1.50p each
• Bankruptcy-only Land Charges Department searches (£2 per beneficiary)
• Land registry search £3
• £92 + VAT (£110.40) Post in the London Gazette – Protects against unexpected claims from unknown creditors.
• £115.20 (estimated) Post in a Local Newspaper – This also helps to protect against unexpected claims. This will vary depending on where the advert is placed.
• Unclaimed asset search £195 + VAT (£234.00)

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry or court fees.   We handle the payment of the disbursements on your behalf to ensure a smoother process.

Potential additional costs

• If there is no will or the estate consists of any shareholdings (stocks and bonds) there is likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with.   We can give you a more accurate quote once we have more information.
• Dealing with the sale or transfer of any property in the estate is not included.
• Matters involving inheritance tax returns, specifically where payment of inheritance tax is required, will always take more time and therefore, costs will be higher. At the outset of your matter, we will provide you with a more precise estimate based on the circumstances and the complexity of the estate you are asking us to administer. For a straightforward estate, we will be able to advise you if an estate will be subject to tax, or if the estate is more complex, advise if you should obtain specialist tax advice, which we can help you obtain. There is also information on the UK Government guide to inheritance tax – https://www.gov.uk/inheritance-tax

How long will this take?

• On average, estates that fall within this range are dealt with within 6-9 months.   Typically obtaining the grant of probate takes 10-12 weeks, depending on how quickly information is provided by the asset holders. Collecting assets then follows, which can take between 10-12 weeks. Once this has been done, we can distribute the assets, which normally takes 10-12 weeks.

Why choose Tayntons probate solicitors?

Tayntons’ probate solicitors and lawyers offer practical, empathetic support for all aspects of the probate process to Executors and other interested parties in Gloucester and throughout Gloucestershire, including Cheltenham and the Forest of Dean and further afield.

Our team has over 10 years of experience in delivering high-quality work in all matters relating to Probate. There are two fee earners in the Probate team who may work on your matter Regardless of who works on your matter; they will be supervised by Joanne Thompson (Partner), Head of Probate.

Working alongside our probate team, we have a very reliable residential property team who can assist with all of the property issues that tend to arise during the probate process, such as selling property and transfer of title.

Tayntons has achieved Lexcel accreditation from the Law Society, recognising the strength of our practice management and client care. We are independently regulated by the Solicitors Regulation Authority (SRA) providing assurance that we continually meet the highest legal and professional standards.

Get in touch with our probate solicitors in Gloucester

Need help with any aspect of probate in Gloucester, Cheltenham, the Forest of Dean or anywhere in Gloucestershire? Please contact us today by calling 0800 158 4147, emailing us at info@tayntons.co.uk or requesting a call back.