Fees for Probate Services

We are committed to providing transparent and detailed information about the costs of our probate services, including the basis of our fees, disbursements, VAT, and the factors that can affect the overall cost. Below, we’ve outlined the key details to help you understand what to expect.

Our Fees

Our fees for probate services depend on the complexity of the estate and the type of work required. We offer several pricing structures, including fixed fees, percentage-based fees, or fees based on an hourly rate.

• Range of fees for probate services:
  • For straightforward estates: From £2,000 plus VAT (20%).
  • For more complex estates: From £4,000 plus VAT (20%).
• Hourly rates:
  Our hourly rates for probate services are calculated at £200 plus VAT (20%) per hour, based on the solicitor handling your matter.
• Percentage of estate value:
  Alternatively, our fees may be calculated as a percentage of the gross value of the estate:
  • For straightforward estates: 1.5% - 2.0% of the estate value plus VAT
  • For complex estates: 2.5% - 3.5% of the estate value plus VAT

Basis of Costs

The cost of probate depends on the complexity of the estate and the work required. Here are some examples of what makes a matter more complex (and therefore higher in cost):

• If the estate includes multiple properties.
• If the estate includes foreign assets or investments.
• If the deceased owned a business or agricultural assets.
• If there are disputes between beneficiaries.
• If inheritance tax is payable and extensive tax planning is required.

Fixed Fees: For certain straightforward matters, we can offer a fixed fee for probate services. This will be discussed and agreed upon at the outset.

Range of Costs: For more complex cases, we will provide a range of estimated costs based on the specific details of the estate and explain how those costs are calculated.

Disbursements

Disbursements are third-party costs that must be paid as part of the probate process. These are charged in addition to our legal fees.

Typical disbursements include:

• Probate application fee: £300
• Copies of the grant of probate: £1.50 per copy
• Bankruptcy searches: £2-£7 per beneficiary
• Land Registry fees: Varies depending on the transaction (if applicable)

We will confirm the exact disbursements at the outset and ensure these are clearly itemized in your estimate.

VAT Information

Our legal fees are subject to VAT at the prevailing rate of 20%. Some disbursements may also attract VAT. Below is a summary:

• VAT on legal fees: Charged at 20% (e.g., if our fee is £2,500, the total including VAT will be £3,000).
• VAT on disbursements:
  • Probate application fees: No VAT
  • Swearing the oath fees: No VAT
  • Land Registry fees: May attract VAT (we will confirm this for you).

Key Stages of the Probate Process

The probate process involves several key stages. Below is an outline of the typical steps and the timeframes involved:

1. Initial Consultation:
   • Gathering information about the estate, assets, and liabilities.
   • Estimated timescale: 1-2 weeks
2. Valuing the Estate and Preparing the Application:
   • Obtaining valuations for assets such as property, bank accounts, and investments.
   • Preparing and submitting the application for the grant of probate.
   • Estimated timescale: 4-8 weeks
3. Grant of Probate:
   • Once the application is submitted, it typically takes 16 weeks for the Probate Registry to issue the grant.
4. Collecting Assets and Settling Liabilities:
   • Collecting funds from banks, selling or transferring property, and settling debts (including inheritance tax).
   • Estimated timescale: 2-4 months
5. Distributing the Estate:
   • Once all assets are collected and liabilities settled, we will distribute the estate to the beneficiaries.
   • Estimated timescale: 1-2 months

Factors Affecting Costs and Timescales

The overall cost and timeline for probate depend on several factors:

• The complexity of the estate: Multiple properties, business assets, or disputes between beneficiaries can increase costs and time.
• Third-party delays: Delays in obtaining valuations, documents, or responses from banks and HMRC.
• Inheritance tax liability: Estates subject to inheritance tax often require additional work, including tax calculations and submissions to HMRC.

On average, the probate process takes between 6-12 months, but we will keep you informed throughout the process and provide regular updates.

It’s also important to note that any delay in submitting required documents or paying taxes can result in additional delays. We will work closely with you to ensure that all necessary information is submitted promptly to avoid unnecessary hold-ups.

Contact Us

If you have any questions about our fees, disbursements, or the probate process, please contact us at info@otssolicitors.co.uk or alternatively call 02039599123. We will be happy to provide more information and a tailored estimate based on your specific circumstances.