Probate and Letters of Administration - Full Estate Administration Chandler Ray's Price Guide for Full Estate Administration
Full Estate Administration means you hand over every aspect of the estate administration to us, with the reassurance that it will be handled pro-actively and efficiently.
Being an executor is an important role, and you must be confident that the estate has been administered and finalised correctly to avoid any nasty surprises years later. You are legally entitled to obtain professional advice from solicitors and accountants to assist you in this task.
Timeframes
We generally find that dealing with the administration of an estate can take a minimum of 10 hours, and this includes all meetings, letters, emails, preparation of documents, phone calls and so on.
The following aspects could all give rise to additional complexity, leading to higher costs and delays:-
- No will.
- Issues with Executors (no contact, lack of capacity, unwillingness to act)
- Homemade will
- Numerous assets.
- Shares
- Foreign property
- Inheritance tax
- Numerous legacies
- Disputes arising prior to or during the administration of the estate
Our Rates and Fees
Our fees are not related to the estate's value in any way and are calculated on the amount of time it takes to complete your work. We have devised Tiers to give Executors and administrators an indication of the costs range their matter may fall into. This is discussed at our initial appointment and is based upon the information provided at the time. Any increase in costs to the next Tier, as a result of additional information or complexity, will be discussed during the administration. The fee indications here do not include any tax that might be payable - this is an expense of the estate, not part of our fees. Conveyancing, contested probate advice, company commercial advice and income tax returns are also not included.
- Tier 1 (Online grant applications, no HMRC involvement, straightforward estate with few assets and beneficiaries)£4,800 - £9,600 plus disbursements(£4,000 - £8,000 + VAT)
- Tier 2 (Online/paper grant applications, no tax, straightforward estate with few assets and beneficiaries)£7,200 - £12,000 plus disbursements(£6,000 - £10,000 + VAT)
- Tier 3 (Online/paper grant applications, IHT 400 but estates under £2m, Heald partners appointed as Executors)£8,400 - £18,000 plus disbursements(£7,000 - £15,000 + VAT)
- Tier 4 (May include any of the following:- High value (£2m +), complex estates, contested, large family tree, Heald partners as Executors, foreign assets, agricultural property, business property, numerous shareholdings, numerous legacies and residuary beneficiaries, non UK parties)£12,000 - £30,000 plus disbursements(£10,000 - £25,000 + VAT)
Disbursements
- Probate Application Fee£300(No VAT)
- Swearing of the Oath£18(No VAT)
- Bankruptcy Searches£7.20 per beneficiary(£6 + VAT)
- Notices in The London Gazette and Local Papers£240 (est)(£200 + VAT)
- Unclaimed asset searchesVariable
- Land registry copy documents£8.40 per property(£7 + VAT)