Brevitts Solicitors

Providing legal services in south Birmingham for over 50 years.

Probate, Administration of Estates

What is a Probate?

A Grant of Probate is the legal authority for the Executors to deal with assets and administer the person’s Estate. Before you are able to apply for the Grant of Probate the Executors must also deal with the HMRC to determine what, if any, inheritance tax is payable.

What if Probate is not obtained?

If Grant of Probate is not obtained, the Executors will not be able to deal with the some of the person’s, for example, they would not be able to sell the Deceased’s assets.

How long will this take?

Where you instruct us to obtain a Grant only, we expect to be in a position to apply for the Grant within 4 weeks of you providing the information required to complete the relevant paperwork. The time that the Probate Registry will take to issue the Grant can vary but they aim to issue within 8 weeks. Where you also instruct us to administer the estate, it is usual for the administration to be completed within 6-9 months from the issue of the Grant except where a property is being sold. This can vary depending on any tax liabilities and the ease with which the assets and liabilities of the estate can be realised. It should be noted that this can take longer depending on the circumstances and how quickly we receive responses from third parties. However, Executors have 12 months in which to complete the matter.

Fees

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 assets, costs will be at the higher end. Our fees will be charged based on the time spent working on the matter. This is calculated at our hourly rates.

Probate

Cost Estimate VAT Total
Grant Only £950 – £3,500 20% £1,140 – £4,200

 

Grant Only in an excepted estate which is not subject to inheritance tax and with no complications assuming it would take between 6 hours of work and falls within the excepted estate procedure our fees might be £950 and £1,500 plus VAT.

Grant Only in a non-excepted estate which is not subject to inheritance tax but where a full tax return is required assuming it would take between 10 and 15 hours of work our fees might be between £2,500 and £3,500 plus VAT.

Grant Only in an estate that is subject to inheritance tax and more extensive disclosure requirements to HMRC it is likely that significantly more time will be spent and we would not envisage spending less than 20 hours on such a matter. Our fees would be a minimum of £4,000 to £5,000 plus VAT.

Cost Estimate VAT Total
Full Administration of the Estate £2,500 – £5,500 20% £3,000 – £6,600

 

For excepted estates passing wholly to spouse which are exempt from tax where, for example, the estate consists of a property, a few investments, a few bank accounts, some listed shareholdings and/or other ’uncomplicated’ assets, and a relatively small number of beneficiaries it is likely to take around 10 to 15 hours of work estimated between £2,500 and £3,500 plus VAT.

For non-excepted estates up to £1 million which are exempt from tax where, for example, the estate consists of a property, a few investments, a few bank accounts, some listed shareholdings and/or other ’uncomplicated’ assets, and a relatively small number of beneficiaries it is likely to take between 20 hours of work estimate between £3,500 to £4,000 plus VAT.

For a taxable estate valued up to £500,000 where, for example, the estate consists of a property, a few investments, a few bank accounts, some listed shareholdings and/or other ’uncomplicated’ assets, and a relatively small number of beneficiaries it is likely to take between 35 – 40 hours of work estimated between £4,500 – £5,000 plus VAT

For a taxable estate valued up from £500,000 to £1 million where, for example, the estate is more complex and it is likely to take between 40-50 hours of work estimated between £5,500 – £6,500 plus VAT.

Cost Estimate VAT Total
Complex Estate £6,000 – £15,000 20%

 

For a taxable estate valued from £1 million to £2 million our fees might estimate up to £10,000 plus VAT. For a taxable estate valued over £2 million our fees might estimate up to £15,000 plus VAT but this would very much depend on the type of assets in the estate and how the estate is to be distributed.

Disbursements :

  • Probate Registry fees – £273 (From 26 Jan 2022)
  • Statutory Adverts – £220 (optional)
  • Final asset B unclaimed asset search – £165 (optional)
  • Bankruptcy-only Land Charges Department searches £2 (per beneficiary)
  • Additional copies of the grant, if required – £1.50 per copy
  • Bank transfer fee – £36 + VAT (optional)
  • Certainty Will Search £126
  • Credit file report £24

Process Timeline

Step 1 - Initial Consultation

An initial consultation meeting will be arranged between the Executors and a member of the team to discuss the terms of the Will and the Estate. Following this meeting, an attendance note and full estimate of costs will be provided.

Step 2 - Collecting Asset Information

We will begin collecting information on the Assets, including writing to all providers.

Step 3 - Completion of Inheritance Tax Forms

We will prepare a breakdown of assets to establish the value of the estate, and whether there is any inheritance tax payable. The necessary inheritance tax forms will then be prepared, and will will arrange for the inheritance tax to be paid (if any).

Step 4 - Apply for the Grant of Probate

For most estates this is now an online application process, with the following documents required

  • Any will and codicils;
  • Fee payment;
  • Printed version of page
  • IHT 400 (if applicable);
  • A photocopy of the signed legal statement and declaration.
Step 5 - Collecting the Assets

Once the Grant of Probate is received, this gives the Executors the legal authority to then deal with the assets, including either transferring or selling the assets.

Step 6 - Preparation of Estate Accounts

We will arrange for payment of any outstanding debts, such as utilities, and pay any legacies. Full accounts will then be prepared for the estate, and any applicable tax dealt with.

Final Step - Final Distributions

Once the Estate accounts have been approved, we will make the final distributions from the estate and issue a final copy of the invoice.

5 Oak Tree Ln,
Selly Oak,
Birmingham
B29 6JE
Wecare@brevittssolicitors.co.uk
(0121) 472 4131

Brevitts Solicitors is trading name of Jane Brevitt Solicitor LLP and is a limited liability partnership authorised and regulated by the Solicitors Regulation Authority, SRA number 517354 and registered in England and Wales with registered number OC347420.
Its registered office is 5, Oak Tree Lane, Selly Oak, Birmingham B29 6JE. Members: Mrs J.A. Sutton (Jane Brevitt) Solicitor (Accredited Solicitor for the Elderly) and Mr. L.A. Sutton C.I.L.E.XE