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            Administration of Estate - Fees & Timescales

            We specialise in dealing with a broad range of estate administration and associated matters.

            We specialise in dealing with a broad range of estate administration and associated matters.

            Broadly, we can assist you in two main ways:

            1. Obtaining the Grant of Representation only
            2. Dealing with the whole administration of the estate 

            Option 1: Obtaining the Grant of Representation only

            Where you only require assistance with obtaining the Grant of Representation, then we can help you through this difficult process.

            A Grant of Representation may be required depending on the value and nature of the assets in the estate. The Grant is issued by the Probate Registry and gives the Personal Representatives the authority to deal with the estate (including accessing the assets of the estate, settling the liabilities of the estate and distributing the estate).

            If you are unsure whether a Grant of Representation is required, we are more than happy to discuss this with you.

            Fees

            Our fees are usually based upon the amount of time spent on the matter and charged in accordance with an hourly rate (ranging from £150 plus VAT to £520 plus VAT depending upon the level of fee earner required). Where possible, we will fix our fees to provide certainty as to the costs involved.

            Our fees to obtain a Grant of Representation only are:

            1. In the region of £1,000 plus VAT and disbursements for a simple, non-taxable estate
            2. In the region of £2,000 plus VAT and disbursements for a more complex estate

            Disbursements

            Disbursements may be incurred when obtaining a Grant of Representation. Disbursements are costs that are payable to third parties. We can handle the payment of the disbursements on your behalf to ensure a smoother process.

            Some of the disbursements include:

            • Probate court fee of £155
            • Each additional court-sealed office copy Grant required (i.e. one per asset) - £0.50
            • Swearing of the oath (per Personal Representative) - £5 plus £2 per exhibit

            This service:

            • Provides you with a dedicated and experienced solicitor to work on your matter
            • Identifies the legally appointed executors or administrators
            • Accurately identifies the type of Grant of Representation application you will require
            • Informs you of the information needed in order to prepare the application
            • Obtains the relevant documents required to make the application
            • Completes the Grant of Representation Application and the relevant HMRC forms
            • Drafts a legal oath (or other appropriate document) for you to swear
            • Makes the application to the Probate Registry on your behalf
            • Deals with any queries raised by the Probate Registry in relation to the application for a Grant of Representation
            • Extracts the Grant of Representation and securely sends it to you

            Timescales:

            For us to obtain the Grant of Representation it only takes in the region of 2-3 months once instructed by you.

            Option 2: Dealing with the whole administration of an estate

            Often, dealing with an estate can be very stressful, time consuming, and complex. We can help ease the burden by dealing with the whole process for you.

            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, multiple assets, and/or if the is estate is taxable, then this will be at the higher end. Dealing with complex assets and structures, taxation issues, disputes, and international assets will also increase fees and timescales.

            Fees

            Our fees are usually based upon the amount of time spent on the matter and are charged in accordance with an hourly rate (ranging from £150 plus VAT to £520 plus VAT depending upon the level of fee earner required). We will provide an estimate of our fees at the outset of the matter and provide regular updates.

            Our fees to deal with the whole administration of an estate start from:

            • £3,000 plus VAT and disbursements for a simple, non-taxable estate
            • £10,000 plus VAT and disbursements for a more complicated and/or taxable estate

            Disbursements

            Disbursement may in incurred when dealing with the whole administration of an estate. Disbursements are costs that are payable to third parties. We can handle the payment of the disbursements on your behalf to ensure a smoother process.

            Some of the disbursements include:

            • Probate court fee - £155
            • Each additional court-sealed office copy Grant required (i.e. one per asset) - £0.50.
            • Swearing of the oath (per Personal Representative) - £5 plus £2 per exhibit.
            • Bankruptcy- only Land Charges Department searches - £2 per beneficiary
            • Statutory Advertisements - £200 – £300 plus VAT, including an advert in The London Gazette and Local Newspaper – Protects against unexpected claims from unknown creditors.
            • Unclaimed Asset Search - £25 to search against any dormant accounts
            • Land Registry fees (if applicable) - £3 per office copy

            Potential additional costs

            • If there is no will or the estate consists of any share holdings (stocks and bonds), 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.
            • Inheritance Tax and any other taxes may also be applicable
            • Our fees do not include dealing with the sale/transfer of any property and any litigation fees to deal with any disputes.

            This service:

            1. Explains the terms of the Will or the process where there is no Will
            2. Notifies all of the relevant institutions about the death.
            3. Establishes the size and nature of the estate.
            4. Accurately identifies the type of Grant of Representation application you will require
            5. Obtains the relevant documents required to make the application
            6. Completes the Grant of Representation Application and the relevant HMRC forms
            7. Drafts a legal oath (or other appropriate document) for you to swear
            8. Makes the application to the Probate Registry on your behalf
            9. Deals with any queries raised by the Probate Registry or H M Revenue & Customs in relation to the application for a Grant of Representation.
            10. Arranges for any inheritance tax to be paid (where applicable)
            11. Registers the Grant of Representation with all of the relevant institutions.
            12. Collects in the assets of the estate.
            13. Discharges any liabilities.
            14. Finalises the tax affairs to the date of death and settles the tax position for the administration period.
            15. Prepares a set of estate accounts and arrange for them to be approved.
            16. Distributes the estate.

            How long will this take?

            Simple estates are often dealt with within 6 - 9 months and more complicated estates are often dealt with within 12 months. However, the individual circumstances may increase/decrease the timescales (for example, the time it takes to sell the property). 

            Typically, obtaining the Grant of Representation takes 3 – 6 months. Collecting assets then follows, which can take between 1 - 3 months. Once this has been done, we can prepare the estate accounts and distribute the assets, which normally takes 1-3 months.

            Jon Gould

            • National Head of Private Capital

            Louise Oldfield

            • Senior Associate

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