Probate Transactions
When someone has died, their executor appointed in their Will, or a family member if there is no Will, often need to go through the difficult process of obtaining the Grant of Probate or Grant of Letters of Administration, so that they can collect in the financial assets, sell any property, settle any debts, expenses and Inheritance Tax, and then share the remaining estate out between the beneficiaries. HLF Berry can help you with that process, either by just obtaining the Grant for you, or by taking over the administration of the estate if you prefer.
If you are able to provide us with date of death values and balances for all the estate assets and details of any debts and expenses yourself, and to deal direct with the financial institutions in collecting in the assets and paying the debts and expenses, and then distributing the remaining estate between the beneficiaries, we can obtain the grant for you for a fixed fee.
If you prefer us to obtain asset values, collect in the assets, pay the debts and expenses and distribute the estate, or if the detailed Inheritance Tax forms are required because Inheritance Tax may be payable, we charge on the basis of the amount of time spent working on your matter, but we always allow you to decide what steps in the transaction you wish to take for yourself, and which you prefer us to deal with. We also charge on a time basis if HLF Berry are the executors appointed in the Will. In circumstances where we deal with the whole administration, we also charge a separate fee based upon a percentage of the value of the estate. We handle the payment of the disbursements (costs related to your matter that are payable to third parties).
Fixed fees for just obtaining the Grant:
| Legal Fees | £850 |
| VAT on Legal Fees | £170 |
| Probate Court Fee | £273 (+ £1.50 for each copy Grant required) |
| Total Cost | £1293 |
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As part of our fixed fee we will:
- Provide you with a dedicated and experienced probate solicitor to work on your matter
- Identify the legally appointed executors or administrators and beneficiaries
- Accurately identify the type of Probate application you will require
- Obtain the relevant documents required to make the application
- Complete the basic Inheritance Tax form and draft the Probate Application (Oath)
- Make the application to the Probate Court on your behalf after you sign the forms
- Obtain and provide you with the Grant of Probate/Letters of Administration
Dealing with part or full administration of the estate (Non-fixed fees):
This is where the work is charged for on a time basis, at an hourly rate of £295.00 for a senior solicitor and £275 for a junior solicitor. Average estates take between 5 and 10 hours of work (£1,475.00 to £2,950.00 plus VAT) for a senior solicitor. The exact cost 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 share holdings (stocks and bonds) or there are many different bank and savings accounts, there is likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with. We can give you a more accurate quote once we have more information. If a full Inheritance Tax return has to be prepared, this often takes up to 5 hours additional work, with more time spent arranging to have funds released to pay the Inheritance Tax. Any disputes between beneficiaries, or any claims against the estate, will result in additional cost. Where the additional percentage of the estate value is charged, this is 0.5% of the value of any land and property in the estate and 1.0% of the value of the rest of the estate 1.5% if the our firm is the executor), both plus VAT.
Disbursements in addition to the fee:
- Probate application fee of £273.00 (plus £1.50 for each additional copy required)
- Bankruptcy-only Land Charges Department searches (£1.00 per beneficiary)
If you require protection against unexpected claims from unknown creditors, notices can be posted in the London Gazette and a local newspaper. The typical cost is £100.00 in the London Gazette and £450.00 in the Manchester Evening News.
As part of our fee we will:
- Provide you with a dedicated and experienced probate solicitor to work on your matter
- Identify the legally appointed executors or administrators and beneficiaries
- Accurately identify the type of Probate application you will require
- Obtain values or balances for the estate assets
- Obtain the relevant documents required to make the application
- Complete the basic or detailed Inheritance Tax return
- Arrange for payment of any Inheritance Tax due
- Draft the Probate Application (Oath) and prepare forms to collect in the assets
- Make the application to the Probate Court on your behalf after you sign the forms
- Obtain and provide you with the Grant of Probate/Letters of Administration
- Advertise for creditors (if required)
- Collect in the assets and pay any debts and legacies
- Prepare the final estate account for your approval and then distribute the estate
For impartial advice and guidance, please contact us at our Failsworth office on 0161 681 4005 or at our Chorlton office on 0161 860 7123 or email info@hlfberry.com
