Fixed Fee Probate Handled by Solicitors in Barnet
Our specialist solicitor and paralegal assistant are on hand to help you through this difficult time. Our fixed fee probate service helps to streamline the process whilst also providing certainty around costs.
If you wish to talk to a representative about fixed fee probate arrangements or any other legal advice, please get in touch.
What is Included in The Fixed Fee Probate Price?
The exact cost of probate will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property, costs will be at the lower end of the range. If there are multiple beneficiaries, a property and multiple bank accounts, costs will be at the higher end. If there is no will or the estate consists of any shareholdings (stocks and bonds) there are likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with.
Contact us with more information and we can give you a more accurate quote.
Please note: The fee that we agree is payable from the assets of the estate and is, therefore, not taken upfront from you.
Currently, our hourly rate is £260+VAT.
Our minimum fee is £1,050+VAT.
We work out our fee based on the number of hours we think it will take to do the following:
- Initial Assessment of the validity of the will
- Advising on and dealing with any issues identified
- Collecting information, relevant documents and valuations on the assets and liabilities held by the deceased at the date of death
- Completing the IHT form and calculating any inheritance tax due
- Arranging for the payment of any IHT and arranging for the executors to sign the forms
- Drafting an Oath and arranging for this to be sworn/affirmed by the executor
- Applying for a Grant
- Paying any liabilities
- Preparing Estate Accounts
- Distributing the estate
Other Incorporated Charges
In addition to our hourly rate, we can incorporate a charge which takes into account the total value of the estate. This charge is usually in the region of 0.1% of the total value of the estate.
Example matters and likely fee:
- There is a valid will
- There is no more than one property
- There are no more than 6 bank or building society accounts
- There are no shares held
- There are between 1 and 4 beneficiaries
- There are no disputes between beneficiaries on the division of assets. If disputes arise this is likely to lead to an increase in costs
- There is no inheritance tax payable and the executors do not need to submit a full account to HMRC
- There are no claims made against the estate
- The total value of the estate does not exceed £500,000
Although we include a lot of our services in the above costs, there are also some additional costs outside of the fixed fee services (Disbursements).
Disbursements are costs related to your matter that are payable to third parties. We handle the payment of the disbursements on your behalf to ensure a smoother process.
- Probate application fee of £157
- Swearing of the oath (£7 per executor)
- Bankruptcy searches (£2.90 per beneficiary)
- Post in The London Gazette and in a local newspaper – protects against unexpected claims from unknown creditors/beneficiaries. Between £300 and £500
- Land Registry fee to check ownership of any property (£3.90 per document)
Once a fee is agreed upon with our probate solicitor and you have been provided with a written fixed fee probate quote, this quote will not change unless any original information given was incorrect or there is an unexpected change in circumstances.
On average, straightforward estates are dealt with from start to finish within 3 – 8 months.
Frequently Asked Questions
What Is Fixed Fee Probate?
A fixed fee probate is an estate administration and the distribution of assets to the relevant beneficiaries. Its aim is to ensure that these distributions are completed as correctly and concisely as possible. This is within a set fee and it will be deducted from the relevant estate, along with any taxes and other expenses also due.
Do banks offer probate services?
Most banks do offer both probate and estate services however they are typically more expensive so it’s more economical to use a solicitor or specialist company to assist.
How long does it take for probate to be granted?
While the average time is typically 9 months, it can take anywhere from 6 months to one whole year in some cases. This is entirely dependent on the size of the estate, as larger cases typically become much more complex and therefore longer to see through to completion. The timing also depends on how long it takes the court to issue the grant of probate.