PROBATE - ESTIMATES OF COSTS
Solicitors based in Crownhill Plymouth
An estimate of time required to complete any probate administration is dictated by many factors relating to the size and complexity of an estate An average costs estimate would therefore be in the region of £2,000.00 - £3,500.00 plus VAT.>
If we are instructed to obtain a Grant of Probate or Letters of Administration :
If we are instructed to obtain a Grant of Probate or Letters of Administration (with or without Will annexed) and administer an estate, we will charge a value element in addition to our hourly charging rate based on 1% of the gross (pre-tax) value of the estate plus VAT. The value of any residential property contained in the estate will be reduced by 50% when calculating the gross value of the estate. Where directors of this firm are appointed as Executors the value element will be based on 1.5% of the gross (pre-tax) value of the estate plus VAT. The value element charge reflects the risk and responsibility to the firm for the conduct of the matter.
As a broad estimate we anticipate that if there is for example one beneficiary and no property this will take between 6 to 12 hours of work and probate administration normally takes between 6 to 12 months to complete at £150.00 - £250.00 plus VAT per hour.
Probate administration with for example one beneficiary, no property and few bank accounts will likely be at the lower end and by contrast if there are multiple beneficiaries, property, multiple bank accounts, share dealings then costs will likely be higher.