Probate is a sensitive area of service – whether it’s a loved relative who has died or perhaps someone not so close – whatever the status of the executor or potential administrator, one is dealing with the finances and personal possessions of the deceased.
We aim to act as sympathetically and empathically as we can, whilst trying to ensure that all work needed is dealt with in as timely and cost-efficient a manner possible.
As for the costs of obtaining a Grant and distributing an estate, well these tend to be grouped into two :
Although we have an hourly charging rate we try to give as good an indication of the possible overall costs as we can. Often until the actual administration is well under way, we don’t know if there will be specific problems to be met. It could be an asset that’s in another country or even an asset that can’t be found. It could be that there are problems with the Will or its structure, or it might be that beneficiaries can’t be located or feel that they have been overlooked. We do whatever is possible to sort any such problems out with the minimum of fuss.
The hourly rates for probate administration depend on the seniority of the lawyer or manager carrying out the work and range from £250 per hour to £450 per hour for a partner. Typically, the administration of an estate would be carried out by one of the consultants or lawyers in the department, under the supervision of a partner, to try to make sure the maximum amount of work is done at the lowest cost.
Allowing for all the uncertainties, the best guidance we can give is that our costs typically tend to fall in the range of 1-3% of the gross value of the estate. This is not to say that we charge on the basis of the value of the estate, but is simply an indication that the larger and more complex an estate is, the higher our fees are likely to be. We always inform clients of an impending bill and what it will be – so that there are never any surprises about costs and clients can discuss potential invoices before they are issued.
What takes all the time and effort?
This estimate for fees includes the key stages of the administration of an estate:
The cost and number of hours needed depends on the circumstances of each estate. The above range of costs is based on the following factors:
If there is a valid will, no inheritance tax to pay and the estate does not include any shareholdings, our charges are likely to be at the lower end of the range given above.
We’re not new to probate administration and some of our team have decades of experience in this area of law. We use the right people in the best manner at all times. Our contacts in this field are many, various and of the highest calibre – so valuers, brokers, agents and experts that we use have been partners of ours and are well trusted and tried.
Costs we cannot avoid relate to fees and disbursements that are always part and parcel of probate work. These are the expenses that we must pay out on your behalf. Examples of these are:
Probate administration requires something of a team effort between you and us – we need to work together to make sure everything is dealt with accurately, efficiently and clearly with the aim being that at the end of the matter you feel you have received a fair and professional service of the highest calibre.
Our main contact for the Probate team is David Archer and please feel free to contact them with any questions you might have.