In most cases we charge a fixed fee for our work. This means that you know in advance exactly how much you will be asked to pay. The fee that we offer will normally follow a discussion with you about your circumstances and the work that you wish us to do.
For most things (for example, preparing a divorce petition) we offer a fixed fee. In some more complex cases we will offer a fixed fee for each stage of work that we carry out for you.
For preparing a Will we offer a range of fixed fees which depend on the size of your estate. We think this is the simplest and fairest way of charging because it reflects the degree of complexity involved in dealing with things like inheritance tax planning.
We charge a fixed fee for preparing a lasting power of attorney and making an application to register it. Likewise, we charge a fixed fee for making an application to the Court of Protection.
The fee that we offer will be based on an assessment of what is included in the estate and the scope of the work that you wish us to carry out.
For example, for a relatively modest estate, if you wish us to obtain a grant of probate and then collect and distribute the assets in the estate for you our fees are likely to be in the range of £900 to £1,800 plus VAT. The actual fee we quote will depend on a number on a number of factors. For example, if there is one beneficiary, a single bank account and no property, our fees will be at the lower end of the range. If there are several beneficiaries, a property and a variety of financial assets, our fees will be at the higher end. The work we have to do on an estate is also sometimes affected by a previous death, for example, that of a former spouse or the co-owner of a property.
This indication also assumes that there is a valid and available Will, the assets are typical ones (such as property, bank accounts, ISAs and Premium Bonds) and all of them are located in England and Wales, there is no inheritance tax payable (and no need for the executors to submit a full account to HMRC), there is no dispute between any of the executors or beneficiaries, all of the beneficiaries can be readily traced and there are no claims against the estate from third parties.
In addition to our fees, there will be a number of other costs that will need to be paid out of the estate. These include the application fee payable to the Probate Registry, the cost of advertising for creditors of the estate, bankruptcy searches against beneficiaries and the fees charged by third parties for valuing, transferring or insuring assets. Where we are able to give you an indication of the size of these costs when you instruct us, we will do so.
Your case will be dealt with by a qualified solicitor who is experienced in probate matters. Within the fixed fee we will prepare the probate application and relevant HMRC forms ready for signature by the executors, submit the application for you and (when the grant of probate has been issued) use it to collect in the assets in the estate and distribute them to beneficiaries. Note that this indication of our fees does not include the sale or transfer of any property in the estate or any rearrangement of the way in which the estate is to be distributed under the Will.
For an estate of this type, obtaining a grant of probate will typically take between five and eight weeks and the administration of the estate a further three to six months, but much will depend (for example) on the speed at which the Probate Registry is able to deal with applications and the responsiveness of banks and other holders of assets.
We will be pleased to discuss our fees for dealing with larger and more complex estates and for those cases where you simply require advice and assistance.
VAT is applicable to all of our fees. In addition, in some cases you will need to pay other costs such as court or registration fees or the fees of third parties such as medical experts. We will always try to make you aware of such costs before they arise and work with you to keep them to a minimum.
If you would like to discuss fees or ask for an indicative quote, please do not hesitate to contact us.