Full Administration of Estate

bike next to wall

Every estate is different and the exact cost will be dependent on the individual circumstances. We will have a discussion with you at the outset to establish the extent of the estate and will then be able to provide you with our estimate based on the information provided.

In addition, the Probate Registry fee on submitting the application is £300.  Further copies of the Grant can be requested at a cost of £1.50 each.

If it becomes apparent that there is additional work required in excess of our initial estimate we will always discuss this with you before proceeding further.

Simple estate administration:

If the estate is simple our fees are usually between £2,250 and £2,750 plus VAT at 20% (between £2,700 and £3,300 including VAT).

An example of a straightforward estate would be:

There is a valid Will.
There are no more than 2 Executors appointed under that Will.
There are no more than 3 active bank accounts.
There are no disputes between the beneficiaries regarding the distribution of the assets.
There is no Inheritance Tax to pay and no additional IHT allowances to be claimed to obtain the grant.
There is no property.
There are no more than 3 beneficiaries.
There are no claims against the estate.

In addition to the work that we would carry out to obtain a grant we will also:

Close the bank accounts and arrange for the sale and transfer of property, bonds, shares etc.
Pay any outstanding liabilities such as care fees, utility bills, pension overpayments and income tax.
Prepare estate accounts detailing the monies received and how this has been allocated.
Distribute the estate between the beneficiaries.

More complex estate administration:

If the estate is more complex, our fee to administer will usually be in the region of £4,500 to £5,500 plus VAT at 20% (£5,400 to £6,600 including VAT).

An example of the a more complex estate would be:

There is a valid Will.
There are no more than 2 properties.
There are no more than 5 investments (Bonds, shareholdings etc).
There are no foreign assets.
There are no more than 5 active bank or building society accounts.
There are no more than 10 beneficiaries entitled to receive a gift from the estate.
There are no disputes regarding the division of the estate.
There are no claims against the estate.

In addition to the work set out above for a simple estate administration we will:

Agree the amount if Inheritance Tax due with HMRC and arrange for this to be paid from the deceased’s accounts as this must be paid before the grant can be issued.
Arrange for the closure of bank/building society accounts and transfer of property, shares, bonds etc and also deal with the marketing (but not the conveyancing) for any properties that are to be sold.
Prepare and submit tax return for the administration period to HMRC showing the tax due on any income or interest received.

Again, if the estate administration is found to be more complex than initially envisaged we will talk to you about our fees before proceeding any further.

Additional fees that may arise on more complex matters can include:

  • Property valuations
  • Accountant’s fees
  • Missing beneficiary fees
  • Statutory Notice fees
  • Registrar’s fees for selling/transferring shares
  • Land Registry fees for copies of title documents for properties

What's not included

  • Advice about any claims made against the estate
  • The administration of any Trusts created under the Will
  • Deeds of Variation
  • Business or farming advice if applicable

Please be aware that the fees shown above may be higher if the matter is more complex than expected, or if you require additional advice about other issues relating to the administration.

In these cases we will charge you at the hourly rate of the person dealing with the matter (£290 plus VAT at 20% or £348 including VAT), but this will always be discussed with you before any charge is made, and you will be given an estimate of the costs involved.

How long will it take?

The more complex the estate, the longer the administration is likely to take.

On average it takes between 16 to 20 weeks for the Grant of Probate to be issued by the Probate Registry. 

The next step is to collect the assets on an estate, this can take approximately 4-8 weeks.  It can take longer if a property is being sold as part of the administration process.

It can then take a further 12-16 weeks to finalise the income tax and capital gains tax position of the estate at HM Revenue & Customs, subject to their current workloads.

Get in touch with us

Our purpose is to offer more choice, more certainty, and an effortless client experience. You are welcome to get in touch with us for a chat about how we can help you.

Get in touch with us

Our purpose is to offer more choice, more certainty, and an effortless client experience. You are welcome to get in touch with us for a chat about how we can help you.
Call us
Image
Based on the Cambridgeshire/Norfolk border, Vine Law is a modern law firm. We believe that the law is a tool that everyone should be able to access and use to protect themselves, their families, and their businesses.

More about us
Image
Image
Cath Collins is the accredited Lifetime Lawyer at Vine Law

Our Expertise

Useful Links

Get in touch

Wisbech Address
6 South Brink
Wisbech
Cambridgshire
PE13 1JA
Ely Address
32 St Mary’s Street
Ely
Cambridgshire
CB7 4ES