Here at Mark Reynolds Solicitors, we understand the process of dealing with the estate of a family member or friend may be a daunting experience.
We will always offer you support and assistance during the administration of an estate and the application for probate or letters of administration.
When an estate is straightforward we can help by “extracting” the Grant for you. This would typically involve you providing the information about the estate, typically the assets and liabilities at the date of death, so that we may prepare and submit the application for the Grant on your behalf.
Once the Grant has been obtained this will be handed to the executor/personal representative who can then proceed to collect in the assets, settle debts of the estate and distribute the remaining estate in accordance with the Will or intestacy rules.
For peace of mind if you would like us to extract the Grant, we offer a fixed fee of £500 plus VAT and disbursements in a simple estate, typically, this would be a simple estate with no inheritance tax liability or possible disputes.
There are situations when you may choose to instruct Mark Reynolds Solicitors to administer the estate on behalf of the executors or personal representatives, examples may include:
- Where the estate exceeds the current inheritance tax threshold, currently £325,000 (£650,000 for a married couple);
- The person died without a Will and there is a complex estate to administer.
- When doubts are raised about the validity of the deceased’s Will or where possible challenges may arise from dependents who have been excluded from the Will and may claim against the estate.
- The estate includes foreign property or foreign assets.
How Much Do Probate Services Cost?
Our fees for Probate are based upon an hourly charge of £215 plus VAT
We will always provide you with a quote for the expected number of hours we would expect an estate to take and the overall cost at the outset and before you instruct us to proceed and will ensure you are updated on the fees as the matter progresses.
We will also advise you of the disbursements that will be incurred, for example:
- Oath swear fees, typically, £10.00;
- Probate application fee £155.00;
- Sealed copy of the Grant £1.50 per copy
We believe this is the most cost effective way of providing this service to our clients.
Some probate firms and other solicitors may charge a percentage basis or a combination of an hourly rate and percentage which may result in significantly higher fees than an hourly rate alone, particularly given the continual rise in house prices which will be the most significant asset in most estates.