Probate - 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 progression and efficiently.
Being an executor is a role for life, so you must be confident that the estate has been administered and finalised correctly to avoid any nasty surprises years later.
Timeframes
We generally find that dealing with this type of estate can take a minimum of 10 hours, and this includes all meetings, letters, emails, preparation of documents, phone calls and so on. It is unusual for a standard estate to take more than 25 hours of our professional time.
A straightforward case is much easier and quicker to complete, and the time taken would be at the lower end of the scale. A straightforward case could be where there is no property to sell, all the money is in a few bank accounts, and there is only one beneficiary.
When a property is involved, more complicated investments or several beneficiaries are involved. Things will take longer to process, and our fees will be higher due to the increased hours required. (Note the cost to sell any property is not included in these figures).
What is involved?
- There is a valid will required.
- There is no more than one property and no more than five bank or building society accounts and all assets are in the UK.
- There are no other intangible assets (such as shares).
- There are no more than giver legatees and residuary beneficiaries.
- There are no disputes between beneficiaries on the division of assets and no claims made against the estate. If a dispute were to arise, this is more than likely to increase costs.
- There is no inheritance tax payable and the executors do not need to submit a complete account to HMRC.
Our Rates and Fees
The final cost will depend on the exact situation in your case. 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. 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.
Typically, a standard estate case costs between £2,650 (£3,180 inc VAT) and £7,000 (£8,400 inc VAT), plus any disbursements.
- Senior Lawyer Hourly Rate£360(£300 + VAT)
- Standard Lawyer Hourly Rate£318(£265 + VAT)
- Copies of Land Registry Records for Property Ownership & comments (each title)£15(£12.50 + VAT)
Disbursements
- Probate Application Fee£300(No VAT)
- Swearing of the Oath£7(No VAT)
- Bankruptcy Searches£2 per beneficiary(No VAT)
- Notices in The London Gazette and Local Papers£240 (est)(£200 + VAT)