Pricing and Service Information

BACKGROUND

Simon Acworth (Senior Partner) at Downie & Gadban has worked in the area of Wills and Estate administration (as well as Powers of Attorney, Court of Protection and residential Conveyancing) for over 40 years. During that time he has helped and continues to help thousands of families and individuals.

Simon Acworth carried out 5 years’ “Articles” with what was then the firm of Radcliffes & Co in Westminster, London (now RadcliffesLeBrasseur) and qualified as a Solicitor in November 1971.

Simon joined Downie & Gadban in 1975 and became an Equity Partner in 1977.

Simon Acworth attends Professional Development courses in Wills, Probate and Estate Administration each year.

RANGE OF COSTS

Applying for Grant, collecting and distributing assets

We anticipate this will take between 3 and 34 hours work at (currently) £295.00 per hour.  The total fees are estimated at £885.00 to £10,030.00 + VAT (currently) 20%.

The exact costs will depend on the individual circumstances of the matter, for example, if there is an Executor, one Beneficiary and no house or flat, fees will be at the lower end of the range. If there are many Beneficiaries, a house or flat and several Bank or Building Society Accounts, Shares and Policies, then the fees will be at the higher end.

We will handle the whole process for you.

These estimates are for Estates where:-

    1. There is a valid Will;
    2. There is no more than 1 property;
    3. There are no more than 10 Bank or Building Society Accounts;
    4. There are a minimal number of shares;
    5. There are one or two Policies;
    6. There are one to ten Beneficiaries;
    7. There are no disputes between Executors or between Beneficiaries on the division of the Estate.
    8. If there is a dispute, this is likely to lead to an increase in fees;
    9. There is no Inheritance Tax payable and the Executors do not have to submit a full account of the Estate to HMRC.
    10. There are no claims made against the Estate.
    11. In addition to the above fees, there will or may be expenses to meet, such as:-
      1. Swearing of Oath and Will (fee of £7.00);
      2. Probate Registry fee of (currently) £155.00 + 50p per “Office Copy”.
      3. Bankruptcy Land Charges Search fee (£1 per Beneficiary).
      4. Notices in The London Gazette and Local Newspaper (protects against unexpected claims by unknown Creditors (cost estimated at about £200);
      5. Note: Dealing with the sale or transfer of any house or flat or land in an Estate is not included in the above estimate.

How long will this take?

    1. If no full Inheritance Tax account needs to be sent to HMRC, then, on average, it may take 2 or 3 months to gather together everything needed for a Probate application.
    2. Currently, using the Winchester District Probate Registry, the average time for obtaining a Grant is 7 days from when the application is sent to them;
    3. After obtaining a Grant and depending on how many and what assets there are in the Estate, it may take a few weeks to collect the assets in and the distributions can be made to the Beneficiaries.
    4. If shares are involved, they can take a lot longer to sell or transfer;
    5. If a full Inheritance Tax account has to be submitted, but no tax to pay, it can take several weeks to obtain from HMRC a receipt to allow a Probate application to be made;
    6. If a full Inheritance Tax account has to be submitted, and Tax has to be paid and can be paid with the account, then it can take many weeks for HMRC to issue a receipt to enable a Probate application to be made.
    7. Note: If there is Inheritance Tax to pay, but it cannot all be paid at the outset, if the Estate has a property, then that Tax relating to the value of the property can be paid by instalments (a maximum of 10 annual payments) so that, until all those payments have been met, the Estate administration cannot be completed.

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