Applying for the grant, collecting and distributing the assets

Probate work is undertaken by Bloomfield Solicitors under a fixed fee arrangement or at hourly rates depending on the complexity of the case. There is an initial consultation with clients to discuss and give a fee quote. Our hourly rates start at £150 per hour for a grade D fee earner such as trainee solicitor, paralegal and other case workers to £250 per hour for a grade A fee earner such as the principal solicitor and other solicitors with over 8 years’ experience.

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.

ESTIMATE for work on a case with a simple estate

Our fixed fees start at £600.00 plus Vat for a Grade D fee earner (trainee solicitor, paralegal and other case workers).

We will handle the full process for you. This quote is for estates where:

• There is a valid will
• There is no more than one property
• There is no more than 2 bank or building society accounts
• There are no other intangible assets
• There are 2-3 beneficiaries
• There are no disputes between beneficiaries on 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.

A higher fixed fee will apply if there are other factors or complexities or if a more senior fee earner works on the case. We anticipate this will take between 10 and 12 hours work at £250 per hour. Total costs estimated at -£2500-3000 (+VAT). Though this can be discussed at the initial consultation once the work that needs to be done has been tabled.

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 Probate Application and the relevant HMRC forms
• Draft a legal oath for you to swear
• Make the application to the Probate Court on your behalf
• Obtain the Probate and securely send two copies to you
• Collect and distribute all assets in the estate.

DISBURSEMENTS

Disbursements are costs related to your matter that are payable to third parties, such as court fees. Disbursements are NOT included in this estimate and are additional to the fixed fee.

It includes the following:

• Probate application fee of £215.00(Personal application)
• Probate court fee of £155
• £7.00 to £10.00 Swearing of the oath (per executor)
• Bankruptcy-only Land Charges Department searches (£2 per beneficiary)
• £93.00 to £95.00 Post in The London Gazette – Protects against unexpected claims from unknown creditors.
• £450.00 – £500.00 Post in a Local Newspaper – This also helps to protect against unexpected claims.

The application fee is £215 if the value of the estate is £5,000 or over – there’s no fee if the estate is under £5,000.

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.
• If any additional copies of the grant are required, they will cost £0.50 (1 per asset usually).
• Dealing with the sale or transfer of any property in the estate is not included.

How long will this take?

On average, estates that fall within this range are dealt with within 2 months. Typically, obtaining the grant of probate takes 6-8 weeks. Collecting assets then follows, which can take between 6 weeks-2 months. Once this has been done, we can distribute the assets, which normally takes 2-6months.

Other probate work undertaken at BLOOMFIELD SOLICITORS

We can help in situations where there are:

• Disputes
• More than one property
• Outstanding creditors
• Other forms of assets
• Overseas assets

Please contact us to discuss any help you might need in relation to the above or any other probate related matters and to obtain a quote for the work that is needed.