PROBATE FEES: RANGE OF COSTS FOR ESTATE ADMINISTRATION
At MI Banks Solicitors, we do our best to make the probate process as straightforward as possible, with no legal jargon. Visit us in Stretford or contact us now to learn more about wills and probate.
Applying for the grant, collecting and distributing the assets
The exact cost will depend on the individual circumstances. Factors include the number of assets and whether there is a property, multiple bank accounts as well as whether there are multiple beneficiaries.
We will handle the full process for you. The quote provided is for Estates where
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There is an original valid Will
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There is only one property
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There is only one bank or building society account
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There are no other intangible assets
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There is one beneficiary
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There is no Inheritance Tax payable and the Executors do not need to submit a full account to HMRC
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There are no claims made against the Estate
Legal Fees
We charge a minimum of 2.5 percent of the gross value of the estate.
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We offer conveyancing only in conjunction with probate where there is a property to be sold. Our fees in those circumstances are £900 plus VAT and Disbursements. The only disbursement that we anticipate is obtaining office copy entries of the title register at £3.00.
We can also prepare Assents of property in probate where the property is being transferred to a beneficiary. Our charge for this will be £300 plus VAT plus Land Registry fees and again official office copy entries at £3.00.
We can also prepare Transfers, for example between Husband and Wife, as long as the property is mortgage free. The only disbursements anticipated would be official office copy entries of £3.00 and Land Registry fees.
The current list of Land Registry Fees linked
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Our service includes

• establishing the value of and dealing with assets such as building society accounts, investment portfolios and shares
• establishing the value and dealing with liabilities
• preparing the Oath and associated documents for the application for the Grant
• where the Estate includes property, assisting you with obtaining a valuation for the property (in the event that you instruct us in relation to the sale of such property a separate conveyancing fee will be charged)
• on receipt of the Grant drawing in the Estate
• corresponding with the beneficiaries and paying legacies
• managing risk for the personal representatives by dealing with Trustee Act notices and Bankruptcy searches
• ensuring Inheritance Tax and any other taxes are paid
• preparing draft and final Estate accounts for your approval
DISBURSEMENTS
Disbursements are costs related to your matter that are payable to third parties such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
HOW LONG WILL THIS TAKE?
We would estimate this to take up to 12 months.
POTENTIAL ADDITIONAL COSTS:
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If there is no Will or the Estate consists of any share holdings (stocks and bonds) there are likely to be additional costs that could range significantly depending on the Estate and how it is to be dealt with. We can provide you with details of such fees once we have information.
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If any additional copies of the grant are required, they will cost £1.50p each (1 per asset usually).
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Dealing with the sale or transfer of any property in the Estate is not included.
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If there are disputes between beneficiaries on division of assets this will lead to an increase in costs.
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If there are missing beneficiaries or Executors.
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If there is a claim made against the Estate from a potential beneficiary or even the DWP.
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If the Estate is insolvent.
PROBATE: FIXED FEE FOR GRANT ONLY APPLICATION
We can also help you through this difficult process by obtaining the Grant of Probate only on your behalf for a fixed fee. We will not undertake the collecting and distributing of assets in this case.
The quote provided is to obtain the Grant of Probate based on the information you provide on non-taxable Estates only.
As part of our fixed fee we will:
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Provide you with a dedicated and experienced probate solicitor to work on your matter
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Accurately identify the type of Probate application you will require
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Prepare the relevant documents required to make the application
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Complete the Probate Application
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Make the application to the Probate Court on your behalf
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Obtain the Grant of Probate
How long will this take?
On average, Estates that fall within this range are dealt with within 2-3 months.
Fees for will drafting
Our fees for drafting wills start at £275 plus VAT. This will vary according to a person’s wishes and the size of their estate. Please contact us for an estimate.