Our fees are based on work that we undertake for you. We do not charge a percentage of the value of the estate. Therefore, you will only pay for the time we spend on your matter. Our current hourly rates for probate matters are as follows:
|Partner||£300 - £350|
|Consultant Solicitor / Senior Consultant Solicitor||£175 - £325|
|Paralegal / Trainee Solicitor||£150 - £175|
Our rates are reviewed on an annual basis and we notify our clients of any changes. These rates are subject to VAT at the current rate of 20%.
The exact cost of a matter will depend on the specifics of the case. We discuss estimates in detail with each of our clients and provide regular updates on costs.
For guidance, we provide an illustration of the costs that may be involved and the types of estate below.
|Type of Estate||Likely Fees Based on Time Spent|
|Simple UK Estate||£5,000 - £10,000 + VAT (£1,000 - £2,000)|
|Complex Estate||£15,000 - £30,000 + VAT (£3,000 - £6,000)|
|Highly Complex Estate||£40,000 - £75,000 + VAT (£8,000 - £15,000)|
A simple estate would be where all assets are in the UK and:
A complex or highly complex estate may include a number of specific and cash legacies in the will, business assets, investments, insurance policies and trusts and/or assets abroad. Inheritance tax is likely to be payable and there may be other tax matters to consider which require accounting and reporting.
Sometimes matters can be protracted which can cause costs to rise. Disputes, difficult tax considerations, overseas complications, variations or alterations to the estate are not included in the above estimates and would incur additional costs.
If there are supplemental matters such as conveyancing (the sale of a property), estate planning for beneficiaries and disputes, we will usually be required to treat these as distinct and provide additional quotes.
In some instances where our instructions are limited to applying for the grant of probate, we may be able to offer a fixed fee. These are considered and discussed on a case-by-case basis.
Please note, we raise our bills on a monthly basis and payment is usually required within 30 days.
Disbursements are costs of third-party services and would be payable in addition to our fees. The most common disbursements in probate matters are:
How long a matter will take depends on several variables, including the completeness of information we receive and the speed at which parties respond to our enquiries.
However, based on our experience and on the presumption that matters follow their usual course, a simple estate can usually be administered within 6-12 months.
Complex and Highly Complex estates usually take longer so we endeavour to provide case by case time estimates in addition to costs estimates.
At present probate matters are handled by:
For further information please contact Sangeeta Rabadia.
Filed Under: Insight