Probate Costs

Probate costs

The costs detailed below apply to estates where there is:

• • A Will and a Grant of Probate is required; and
  • No Will and a Grant of Letters of Administration is required.

We have divided our charges for the administration process into two stages:

Stage 1: The work needed to obtain Grant of Probate or Letters of Administration;

Stage 2: The work required to administer the estate after a grant is obtained.

The amount and complexity of work required also depends on the nature of the estate and which HMRC tax form is required. A summary is as follows:

• • • • The simpler IHT205 form is used for smaller estates and estates not liable to inheritance tax;
      • The more detailed and complicated IHT400 form and appropriate accompanying schedules is used for larger estates and those liable to inheritance tax.

Stage One

The work that is involved in obtaining a Grant of Probate or Letters of Administration includes the following:

• • • • • • Our initial meeting to obtain details of the deceased and the assets and liabilities of the estate;
          • Advising you on the process and what specifically will be required in your particular case. If there is no Will at this stage we will advise you on who is entitled to apply for the grant and how the estate will be divided under the Intestacy Rules;
          • Drawing up a schedule of assets;
          • Drawing up a schedule of liabilities;
          • Writing to the various banks where the deceased had accounts;
          • Writing to other financial institutions where the deceased had investments;
          • Where appropriate contacting creditors of the estate such as credit card providers, care home, DWP and utility companies to ascertain any sums due from or to the deceased’s estate;
          • Arranging for any valuation of assets, e.g. home, other property, vehicles, shares etc.
          • Preparation of HMRC inheritance tax return forms;
          • Preparing a witness statement in support of the application including the statement of truth;
          • Where appropriate arranging to pay any Inheritance Tax due;
          • Obtaining the Grant of Probate or Letters of Administration.

IHT205 where you provide all information required to value the estate and complete the forms:

Likely fees – £735 to £1,715 plus VAT and disbursements

Timescale – we would aim to be in a position to apply for probate approximately 4 weeks after you have provided all the required information.

The Probate Registry ordinarily issues the grant within 4 weeks of the probate application.

IHT205 – where we obtain the asset and liability information and correspond with any third parties:

Likely fees: £1,715 to £3,430 plus VAT and disbursements

Timescale – we would aim to be in a position to apply for probate about 8 weeks after you have provided the information about the deceased’s estate to enable us to make enquiries. This is of course also dependant on the response time of third parties. The Probate Registry ordinarily issue the grant within 4 weeks.

IHT400 required but no inheritance tax payable and you are providing all information:

Likely fees: £2,205 to £3,675 plus VAT and disbursements

Timescale – We aim to submit the IHT400 form and accompanying schedules within 6 – 8 weeks. This may vary depending upon third party response times. HMRC usually process the application within 4 weeks to enable us to submit your application to the Probate Registry. The Probate Registry ordinarily issue the grant within 4 weeks.

IHT400 required, no inheritance tax payable but we are required to obtain estate information:

Likely fees: £3,675 to £5,390 plus VAT and disbursements

Timescales – we aim to submit the IHT400 form and accompanying schedules within 8-12 weeks. This may vary depending upon third party response times. HMRC usually process the application within 4 weeks to enable us to submit your application to the Probate Registry. The Probate Registry ordinarily issue the grant within 4 weeks.

IHT400 required, inheritance tax payable and you are providing all information:

Likely fees: £3,675 to £5,880.00 plus VAT and disbursements

Timescale – we aim to submit the IHT400 form and accompanying schedules within 8-12 weeks. This may vary depending upon third party response times. HMRC usually process the application within 4 weeks to enable us to submit your application to the Probate Registry. The Probate Registry ordinarily issue the grant within 4 weeks.

IHT400 required, inheritance tax payable but we are required to obtain estate information:

Likely fees: £4,750 to £6,860 plus VAT and disbursements

Likely timescales – We aim to submit the IHT400 form and accompanying schedules within 10-14 weeks. This may vary depending upon third party response times. HMRC usually process the application within 4 weeks to enable us to submit your application to the Probate Registry. The Probate Registry ordinarily issue the grant within 4 weeks.

Inheritance Tax / Other Tax

Please be advised that any inheritance tax (IHT) that may be payable on the estate or indeed any other tax such as capital gain tax (CGT) is not included in our estimate of fees and disbursements.

Inheritance tax can be complicated and there are many liabilities, exemptions and reliefs that can apply. We will assess any liability to inheritance tax liability once we have obtained all relevant information. You can find out more about inheritance tax here https://www.gov.uk/inheritance-tax

Please also be aware that inheritance tax is payable before probate is granted. If however the estate also includes a property then only one-tenth of the tax attributable to the property is payable prior to probate with the balance payable over the next 10 years with interest currently being charged at 3.25% per annum or on the sale of the property.