Our Probate & Trust Fees
A comprehensive guide to our probate and trust fees.
How much does it cost to apply for a Grant or Probate or Letter of Administration?
Our Probate Team can offer assistance when required in relation to the administration of an Estate of a deceased person . Our Probate Team have many years of experience in dealing with all aspects of Estate administration. Their profiles can be found by following this link: Wills, Probate and Trust.
We can assist clients either by fully administering the Estate on behalf of the Personal Representatives or alternatively can limit the work to be carried out by us to obtaining the Grant of Representation only.
Full Estate Administration
We will assist you throughout the entire process. This includes not only applying for the Grant of Probate (where there is a Will) or a Grant of Letters of Administration (where the deceased died without leaving a valid Will) but also collecting in the estate assets, paying the tax (where applicable), making payment of liabilities and legacies due, preparing the full estate accounts and (where applicable) tax returns, and finally distributing the residuary estate to the entitled beneficiaries.
The exact cost will depend on the individual circumstances of the matter. Our fees are based on the following scale:
| Estate Value | Fees from: | Fees to: |
|---|---|---|
| £0 - £200,000 | £3,000 | £5,000 |
| £200,001 - £325,000 | £5,000 | £8,175 |
| £325,001 - £500,000 | £8,175 | £12,500 |
| £500,001 - £750,000 | £12,500 | £18,750 |
| £750,001 - £1,000,000 | £18,750 | £25,000 |
| £1,000,000 + | @ 2% to 3.5% Price on application | All figures exclude VAT & Disbs |
Deed of Variation: £400-£800 + VAT
Deed of Renunciation: £250 + VAT
There will also be an identity check for each executor of £20 + VAT per person.
The additional disbursements (payments we make on your behalf) may include but are not limited to:
The Probate Application Fee – £300 plus £1.50 per office copy
(the fee charged by the Probate Registry)
Bankruptcy Only – Land Charges Search – £6 plus VAT
(per beneficiary)
Notices in the London Gazette (if required) – £300 – £400
and a local newspaper to protect against unexpected claims
Estatesearch Financial Profile Report - £165 - £195 plus VAT (if required)
We will handle these payments on your behalf to make the process smoother. These disbursements do not include any Inheritance Tax which will be payable by the Estate in addition.
For the work included as part of our fee, we shall:
Provide you with a dedicated and experienced probate solicitor or legal executive to work on your matter
Identify the legally appointed executors or administrators and beneficiaries where known
Accurately identify the type of grant application you will require
Obtain the relevant documents required to make the application
Complete the relevant application and HMRC forms
Draft the legal statement
Make the application to the Probate Court on your behalf
Obtain the Grant
Collect in all assets in the estate
Prepare Estate Accounts and make payment to beneficiaries
These charges assume that:
There is not more than one property
There are no more than ten bank or building society accounts
Any shareholdings are straightforward in nature and there are no more than five
There are no disputes between the beneficiaries
There are no claims against the estate
If there is additional work required as a result of the assumptions above not applying, then we will charge for the extra work at the hourly rate of £210 – £250 plus VAT. We will advise you of this following our initial meeting to discuss the estate.
This does not include any work involved in the Sale or Transfer or Assent of any property which is required. We shall provide a separate estimate for the work involved.
On occasion we will be asked to deal with a very complex and involved estate. If we feel that this is the case when we meet to discuss the estate, we shall advise you of our likely charges as soon as possible.
Grant Only Service
We can limit our work to the obtaining of the Grant of Probate or Grant of Letters of Administration for a straightforward estate where there is no Inheritance Tax due. We will do this using the information provided by you, and it will then be up to you to gather in the assets and distribute them in the proper way.
Our fees for obtaining the Grant only are based on the following scale:
| Service | Fee |
|---|---|
| Grant of Probate only (no IHT payable) | £1,000 + VAT + Disbursements |
| Value of estate: £325,000 - £650,000 | £1,500 + VAT + Disbursements |
| Value or estate: >£650,000 | £1,800 + VAT + Disbursements | Probate Registry Fee | £300 + £1.50 per office copy |
If it is necessary to submit a Return to HM Revenue and Customs for Inheritance Tax purposes then we will charge an additional £300 plus VAT for that work.
There will also be an identity check for each executor/administrator of £20 + VAT per person.
The additional disbursements (payments we make on your behalf) may include but are not limited to:
Bankruptcy Only – Land Charges Search – £6 plus VAT
(per beneficiary)
Notices in the London Gazette (if required) – £300 – £400
and a local newspaper to protect against unexpected claims
Estatesearch Financial Profile Report - £165 - £195 plus VAT (if required)
We will handle these payments on your behalf to make the process smoother.
For the work included as part of our fee we shall:
Provide you with a dedicated and experienced probate solicitor or legal executive to work on your matter
Accurately identify the type of grant application you will require
Complete the relevant application and HMRC forms
Draft the legal statement
Make the application to the Probate Court on your behalf
Obtain the Grant
Our charges assume that you provide values of all assets of the Estate as at the date of death and provide information regarding to any liabilities.
If there is additional work required as a result of the assumptions above not applying, then we will charge for the extra work at the hourly rate of £210 – £250 plus VAT.
We will advise you of this following our initial meeting to discuss the estate.
This does not include any work involved in the Sale or Transfer or Assent of any property, which is required. We shall provide a separate estimate for the work involved
Trusts
| Service | Fee |
|---|---|
| Registration of Trust on HMRC TRS |
£350 + VAT |
| Deed of Appointment/Retirement of Trustee |
£350 + VAT |
| Deed of Appointment of funds out of Trust/Deed of Surrender |
£350 + VAT |
| Conversion of Trust from Discretionary to Life Interest (Deceased) |
£1,000 + VAT (plus potential conveyancing costs/HMLR) |
| Deed of Variation Incorporating Trust |
£800 + VAT |
| Deed of Gift | £300 + VAT |
Other Charges
| Service | Fee |
|---|---|
| Outright gift of property - query is tax advice needed |
£300 + VAT |
| Gift of property with Declaration of Trust |
£800 + VAT |
| Retrieving file from Index |
£30 + VAT |
| Home visit fee |
£50 + VAT (45p + VAT per extra mile) |
| Home visit fee (one fee earner and two secretaries) | £100 + VAT (45 p + VAT per extra mile) |
Expert legal services for individuals and businesses across Suffolk
How can we help you?
At Gudgeons Prentice our friendly team of experts have the expertise to help you with any legal issues you may be facing. Get in touch today by phone, email or by completing our enquiry form and our team will be happy to help.