The exact cost of the administration of an estate will ultimately depend on the value of the estate and the complexity of the matter. If there are a few assets but no property, with no inheritance tax to pay then we can offer a fixed fee of £1,495.00 plus VAT.
Alternatively you can opt to pay according to the time we spend on the matter.
For all other matters, we will charge our hourly rate of £250.00 plus VAT for a director dealing with the matter and £150.00 plus VAT per hour for their assistant.
You will be given an estimate at the outset of your matter once we have all relevant information to hand.
Disbursements
Costs related to your mater due to third parties are not included within our fees. These are likely to be:
-
- – Probate application fee of £155.00
– Trustee Act Notice (advert in the London Gazette and local paper) estimated £150.00
– Bankruptcy Searches of £2.00 for each beneficiary
– Swear fee of £7.00 for each executor
- – Probate application fee of £155.00
Dealing with the sale of any property is not included within our fees.
Many law firms also charge a value element on top of their fees, which may be as much as a further 1.5% of the value of the estate. Banks typically charge 8% of the value of the estate if they are executors. Therefore a standard estate of £300,000 could cost up to a further £4,500 to £24,000 in fees. JC solicitors never charge a value element. You pay for the work we do at the price we quote, with no hidden charges.
Timescales
The time it takes to complete the administration depends on a variety of factors such as:
- – If there is no valid Will
– If there are disagreements between the beneficiaries
– If a property is involved (it will need to be sold or transferred)
– If the estate is complex, involving numerous assets, foreign assets etc
– If there is inheritance tax to pay
Our aim is to provide you with a high level of service at competitive prices but overall to deal with you in a sympathetic and professional manner.
Arrange a free initial consultation
Please make a free initial, no obligation, consultation with Tania or Jacqui to discuss matters further on 01243 850860 or email tania@jcsolicitors.com or jacqui@jcsolicitors.com