Probate fees

We are able to tailor our service, so you can choose the precise level of involvement you need from us.

Dealing with an estate from start to end involves various stages which are detailed on a separate schedule.

How much does probate cost?  At Morris Owen we charge on a time spent basis. All work will be carried out by Leanne Wootton FCCA CTA and Rob Beale FCA CTA. Both have passed the probate and estate assessment enabling them to carry out the reserved legal activity of non-contentious probate.

Our probate costs for the work involved will be charged at the charge out rates applicable at the time the work is carried out, and will be explained in the initial meeting.

Probate fees for dealing with an estate will depend on the complexity of the estate and the level of involvement that is required from us.  Where possible an indication of the likely cost of probate will be provided in the initial meeting.

Typical disbursements would include the probate application fee, placing creditor’s notices in The London Gazette and local newspaper and indemnities for lost share certificates.  All of these costs will be dependent on the charges at the time of dealing with the estate.

Illustrative case studies

The case studies below show how we can tailor our services to meet each individual executor’s needs and the associated cost of the services provided. 

Services provided: Probate application, inheritance tax forms and tax for the period of administration 

We were provided with a list of assets, the executors having already written to various third parties to confirm values and ownership of assets.

Date of death: April 2020

Probate granted: November 2020

Estate value: £3.35 million containing 14 shareholdings, 21 bank accounts, 5 properties and several NS&I investments

Cost of dealing with the inheritance tax forms, obtaining probate and assisting the executor with the selling and transfer of the assets: £8,470 including VAT

Cost of dealing with the tax return for the period of administration: £1,094 including VAT

Services provided: Dealing with tax for the period of administration

In the following case studies the inheritance tax forms and probate application was completed by a solicitor and we were asked to deal with the tax for the period of administration.

The estate was valued at £860,000 and contained bank/ building society accounts and a share portfolio. The period of administration covered 5 tax years and required tax returns to be prepared for each tax year, as the estate did not meet the conditions to be dealt with informally. The cost of dealing with the tax returns covering the period of administration was £2,310 including VAT.

In an estate valued at £1.8 million containing several rental properties, investments and bank accounts, the cost of dealing with tax return to date of death and with 3 years tax returns covering the period of administration was £2,216 including VAT.  Again the estate did not meet the conditions for the period of administration to be dealt with informally.

Services provided: Probate application and Inheritance Tax Forms

We have also dealt with two estates recently where the services required by the executors were slightly different.

One estate was valued at £1 million and the executor completed the online probate application themselves, just requiring assistance with the completion and submission of the IHT forms. The cost of our services was £2,120 including VAT.

Another estate that we dealt with was valued at £800,000 and required assistance with the probate application as well as the completion and submission of the IHT forms. The cost of our of services for this client was £2,208 including VAT.

 

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