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Estate Administration Pricing

At Twomlows we like to meet with our clients so that we can provide a personalised estimate after taking into account all relevant information.

However, our fees are charged on a time spent basis, subject to a minimum £750 plus VAT. The estimates below for obtaining the Grant of Representation and administering the estate are calculated on this basis. The estimates include completing and submitting paperwork in relation to Inheritance Tax, the application for the Grant of Representation, discharging any liabilities and the administration of the estate on your behalf.

The below prices do not include VAT or disbursements (unless specified). The prices also assume that there is no disagreement between the executors or the beneficiaries and no need for a deed of variation of the beneficiaries.

Simple Non-Taxable Estates

From: £750 but typically from £1540

This fee relates to a simple estate containing the following:

  • A property
  • 2 or 3 bank accounts
  • 1 or 2 shareholdings
  • One Legal Representative and one to three beneficiaries

Includes:

  • Providing you with a dedicated and experienced probate solicitor to work on your matter
  • Identifying the legally appointed executors or administrators and beneficiaries
  • Accurately identifying the type of Probate application you will require
  • Obtaining the relevant documents required to make the application
  • Completing the Probate Application and the relevant HMRC forms
  • Draft the statement of truth
  • Making the application to the Probate Court on your behalf
  • Obtaining the Grant of Probate
  • Collecting and distributing all assets in the estate.

Not Included:

There may be inheritance tax due on the matter and the cost of calculating this and accounting for it would be separate to the estimated cost. For additional information on Inheritance Tax please visit www.gov.uk/inheritance-tax

The example fee does not cover the following:

  • Property Sale (if applicable)
  • Estates with multiple properties
  • Estates with multiple Legal Representatives and beneficiaries
  • Preparing and filing tax returns for the administration period and to date of death
  • Taxable estates or where form IHT400 needs to be filed at HM Revenue and Customs
  • Foreign assets
  • Domicile status and complications
  • Administering and setting up trusts
  • Claims and enquiries made by the Department of Work and Pensions
  • If there is a claim against the estate under the Inheritance (Family and Dependants) Act 1975
  • Insolvent estates

Fees will vary depending on individual circumstances and will increase with the complexity of the matter and value of the estate

Breakdown of Costs:

Hourly Rate: £110 for a Trainee Solicitor or Probate Clerk to £220 for a Solicitor

Estimated Hours: 7

Legal Fees from: £1,540

VAT on Legal Fees from: £308

Disbursements – £600 (further information below)

Estimated Timescale:

Average 6-9 months.

Typically, obtaining the Grant of Representation takes 8-26 weeks. Collecting assets then follows, which can take 4-26 weeks. Once this has been done, we can distribute the assets, which normally takes 3-4 weeks. Selling a property in an estate may increase the timescales dependent on how long the property takes to sell.

There are times where additional assets or liabilities come to light and we therefore reserve the right to revise our fees should there be reason to do so. Any fee adjustments will be discussed with the client.

Disbursements:

Disbursements are costs related to third party services which we pay on your behalf. These are not included in the fee estimates and will be charged to you based on the cost they are charged to us.

Example Disbursements

  • Probate Registry fee of £155 plus £1.50 per sealed copy
  • Bankruptcy-only Land Charges Department searches (£2 per beneficiary)
  • Post in the London Gazette—protects against unexpected claims from unknown creditors if required about £100
  • Post in a Local Newspaper—this also protects against unexpected claims if required about £150
  • Valuation fees RE: property and household items
  • Valuation fees RE: shares or investments
  • Costs incurred when selling shares
  • Accountancy fees
  • Asset searches and will searches

Get a more accurate quote

Every case is different, to get a bespoke estimate contact us today and we can discuss the specifics of your case.

Call: 01291 422753

Meet the Team

Molly Twomlow

Supervisor, Director, Solicitor
Qualified: 1978

Molly qualified as a solicitor in 1978 initially specialising in Family and Personal Injury work. She founded Twomlows in 1984 opening the firm’s first office in Caldicot. She continues to specialise in Family work to which she brings over 35 years experience but also enjoys private client work in Wills, Probate and Lasting Powers of Attorney.

Richard Thomas

Assistant Solicitor
Qualified: 1988

Richard is a solicitor with over 30 years’ experience in private client work; having been awarded a Diploma in Trusts and Estates by STEP he is also a Registered Trusts and Estates Practitioner.

Eleanor Twomlow

Assistant Solicitor
Qualified: 2009

Eleanor is an assistant solicitor and in addition to her work in the Crime Department assists in the Probate Department.

Chris Prigg

Partner, Solicitor
Qualified: 1985

Chris is a director of the Company and specialises in Commercial and Business Advice and Wills and Probate. He qualified as a solicitor in 1985 and after spells working in Newport and London, he joined Twomlows in 1987, becoming a partner in 1988 and subsequently a director of the successor Compony.  Although the majority of Chris’ time is spent advising on commercial matters he continues to carry out significant work within the probate and wills department and assists in a supervisory capacity in relation to all property related matters.

 

Our PRocess

Probate

Stage 1

Valuing the Estate

At this stage we will go through the deceased’s papers and bank statements to establish their assets and liabilities. This can be quite straightforward, however in some cases there may be multiple investments, properties, and other personal belongings to consider.

At this stage we may need to contact banks, lenders, fund managers, pension providers, the local government, the DWP, and HMRC.

Stage 2

File Inheritance Tax Forms

Regardless of whether inheritance tax must be paid inheritance tax forms must be completed. One form is used for non-taxable estates, another for taxable estates.

The Legal Representative will complete the related forms as well as any additional schedules to establish the amount of tax payable.

Stage 3

Pay Inheritance Tax

If there is inheritance tax payable on the estate then it must be paid prior to obtaining the grant of probate. Funds can be transferred directly from one of the deceased’s accounts for this if there are sufficient funds.

Stage 4

File Probate Forms

Once we have assessed the size of the estate we will be able to complete the probate application form by applying to the Probate Registry.

The Legal Representatives will need to sign a statement of truth at this stage to confirm that the details of the application are correct

Stage 5

Pay Probate Fees

At this stage we will pay the applicable probate fees on your behalf. Currently these are fixed regardless of the size of the estate and are detailed above in the disbursements section.However, the government has announced changes to these fees which are likely to be implemented later in 2019. 

Stage 6

Administer the Estate

We will collect in the assets of the estate, discharge the liabilities and subsequently distribute the estate in accordance with a Will or the rules of intestacy.