Probate Costs
Sutton Coldfield
We provide an efficient Probate Service to clients in Sutton Coldfield, across the West Midlands and nationally.
Administration of the Estate
At Moseley Chapman & Skemp Solicitors, we provide an efficient Probate Service to clients in Sutton Coldfield, across the West Midlands and nationally.
Our Probate Legal Team
Our team consists of 3 legally qualified members (plus support staff) with many years of experience.
We specialise in high-value Estates and Inheritance Tax.
Probate Costs
An outline of the costs is given below. These can change but we aim to keep you updated on a regular basis and will notify you if the costs are going to change.
Hourly rate charges applied for Directors and Solicitors/Chartered Legal Executives with over 7 years experience is £250 plus VAT
Outline of Probate Costs
An outline of our costs is set out below, and is dependent on the following: –
Size of the estate
Complexity of the estate
Number of beneficiaries
Whether inheritance tax is payable
Whether there is a valid will or whether it is an intestacy
Any other factors such as the death of an executor, problems locating beneficiaries, disputes between executors, no original will located .
A more detailed cost estimate can be provided if any of these factors apply.
Key Stages
- Taking initial instructions and ascertaining the values of all assets and liabilities of the estate.
- Accounting to HMRC (if relevant) and preparing the application for the grant of representation if necessary
- Once the grant of representation has been obtained assets are collected in and liabilities are settled.
- Any tax issues arising will be addressed. The estate is then distributed in accordance with the will or intestacy rules if no will exists
Our Fees
Fees are charged at £260 per hour plus VAT for all Directors and senior fee earners.
| Costs | |
|---|---|
| Obtaining a Grant of Probate only in a straightforward Estate where a simple HMRC account is required. This will take between 3 and 6 months (the Executors will have valued the Estate and will collect in the assets) | From £750 plus (VAT to be added) |
| Obtaining a Grant of Probate and administering an Estate where there is no Inheritance Tax to pay and there is a valid Will. This will take between 4 and 12 months approximately. | £2,000 – £5,000 plus (VAT to be added) |
| Obtaining a Grant of Representation and administering an Estate where there is no Inheritance Tax to pay and there is no valid Will. | £2,000 – £7,000 plus (VAT to be added) |
| Obtaining a Grant of Probate and administering an Estate where there is Inheritance Tax to pay and a full Inheritance Tax Return is required. This can take between 9 months to 24 months approximately. | £4,000 – £20,000 plus (VAT to be added) |
VAT is charged @20% of the costs raised.
Administration Disbursements
These are payments to third parties. We will tell you about any additional disbursements if they arise and we will agree these with you in advance.
| Costs | |
|---|---|
| Bankruptcy Searches | £2.00 Per Person |
| Advertisement in Local and National newspaper for any creditors of the Estate that may not be known (cost dependent on publication) | Approximately £300 plus (VAT to be added) |
| Office copy from Land Registry to check property ownership | £3.00 |
| Current Probate Registry application fee | £300 (plus £1.50 per additional copy) |
| Will Search | £195 plus (VAT to be added) |
| Electronic Transfer Fee | £40.00 plus (VAT to be added) |
Additional Disbursements that can affect costs
Costs and Additional Disbursements that can affect Costs
| Costs | |
|---|---|
| Missing Beneficiary insurance (if Beneficiary cannot be traced) | TBA |
| File retrieval fee (once file is stored) | £25.00 |
| I.D Verification and money laundering fee | £10.00 + VAT Per Person |
| Registration of Transfer of Property dependant on property and beneficiaries | TBA |
| Tracing a Beneficiary | TBA |
| Genealogy Report | TBA |
Probate Services FAQs
What is probate?
Probate is the legal right to deal with property, money and possessions (called their ‘estate’) of a person who has died.
Probate is the process of proving that a will is valid (if one exists) and confirming who has the authority to administer the estate of the person who has died.
If the person who has died left a Will, it will name someone that they have appointed to administer their estate. This person is known as the executor of the Will. Before the executor named in the will can collect in, sell, transfer or distribute the estate they might have to apply for a grant of probate.
Do I need probate?
You do not always need probate. If the size of the estate is small, i.e. there is no property and less than £5,000 in the bank, probate might not be required.
If you are dealing with anything other than a very small or simple estate, it’s likely that you will need to apply for probate. This is especially likely to be the case if the person who has died was single, or if their spouse or civil partner died before them.
You will definitely need to apply for probate if you need to sell property on behalf of the estate or where the banks/organisations the person who died held accounts with inform you that they will need to see the grant of probate before releasing funds.
What are executors?
The person who has to carry out the steps in the probate process is the executor.
Usually, the deceased will have named this person in their will, and they can choose up to four people to share the responsibility.
Incidentally, this is why it’s always important to choose an executor (and to make a Will in the first place), because the next of kin won’t necessarily the best person to take on this responsibility.
Do I have to pay inheritance tax?
There is normally no Inheritance Tax to pay if the value of the estate is below the £325,000 threshold, if the person who has died leaves everything above the £325,000 threshold to their spouse, civil partner, a charity.
How long does probate take?
The probate process takes around a year on average, from the date of the person’s death to the estate being distributed.
It may take less time, but even simple estates usually take a minimum of six months to complete probate.
Do I need a solicitor?
You are free to apply for a grant of probate on your own or to engage a solicitor to handle the application for you.
For simple estates where you feel you can manage the winding-up process yourself, you might feel confident about applying without specialist help. However, in many other cases you may want extra support as the process involves a considerable amount of paperwork, so you will need to be comfortable dealing with legal, tax and other administrative work.
If you are responsible for administering a more complicated estate, it often makes sense to work with an experienced probate solicitor. This includes high value estates, estates including foreign property or assets, estates that involve trusts, or estates where there is uncertainty regarding the will.