At Rawlins Davy Reeves we know that the loss of a loved one is traumatic. Our team will support you through this difficult time with empathy, professionalism and expertise. We can advise you regarding the contents of the Will, or how the Intestacy Rules may apply if there is no Will.
We offer a comprehensive administration of estates service from start to finish, or if you prefer to administer the estate yourself, we can help you obtain the Grant of Probate alone for a fixed fee.
Rawlins Davy Reeves boasts an experienced Private Client team who will provide a specific cost estimate for Estate Administration following an initial consultation.
We are delighted to provide the following general guide to help you anticipate the potential costs involved.
Whether appointed as professional executors under a Will or appointed by Executors to assist in the administration, we maintain our outstanding quality of legal service.
Our fees will vary depending on the size and complexity of the estate due to the impact on the work involved and expertise required. All fees are subject to VAT at the current rate of 20%.
Our Fees for Full Estate Administration
Our fees for Estate Administration cover all of the work in relation to the key stages of the process, including:
- Providing you with a dedicated and experienced Probate lawyer.
- Identifying the legally appointed Personal Representatives and liaising with Beneficiaries.
- Obtaining relevant documents to make the Probate application.
- Completing the Probate Application and the relevant HMRC forms.
- Making the application to the Probate Court on your behalf.
- Circulating the Grant and collecting in assets.
- Paying any outstanding bills and expenses.
- Preparing Estate Accounts and distributing to Beneficiaries.
Our fees for full Estate Administration will be between 1.5 to 3% of the gross value of the estate
Additional fees:
- Compliance check fees currently £15 plus VAT per person. These checks must be undertaken for the deceased, Personal Representatives, and Beneficiaries.
Timescales
Please note that every estate is different, and the below timescales are intended to be a guide only. We will be able to advise in more detail on an individual basis.
The exact cost and time it will take to administer will depend on the unique circumstances of each individual estate.
If there are multiple beneficiaries, multiple assets and liabilities, Inheritance Tax is payable, the costs estimate is going to be at the higher end.
In our experience, estates are generally dealt with in 9 – 12 months. Typically, it takes up to 16 weeks to obtain the Grant of Probate, collecting in assets between 6 and 8 weeks, and the distribution between 4 and 6 weeks. If there is a property to be sold, the distribution of the estate may take longer.
Our Fees for Obtaining a Grant of Probate Only
If you prefer to administer the estate yourself, we can help you obtain the Grant of Probate for a fixed fee between £1,500 to £3,000 depending on the necessary tax paperwork and estate complexity.
Additional fees:
- Compliance check fees currently £15 plus VAT per person. These checks must be undertaken for the Personal Representatives.
Timescales
Obtaining a Grant of Probate only should take between 2 and 5 months.
Obtaining a Grant of Letters of Administration can take up to 12 months if we have to make a paper application as opposed to an online application.
Disbursements
Disbursements are costs related to your matter that are payable to third parties, such as Court fees. You may need to pay these upfront if funds are not accessible in the estate. Disbursements not included in our fees:
- HM Courts & Tribunal Probate Application fees £300 plus £1.50 to £4.50 for each official copy Grant and foreign use Grant.
- Statutory notice fees £200 to £400 plus VAT. These are undertaken at the Personal Representative’s discretion but are strongly recommended and always obtained where Rawlins Davy Reeves are appointed as Executors.
- Estate Search Credit & Liability search fees £25 plus VAT
- Estate Search Financial Profile search fees £165 plus VAT
- Estate Search Financial Profile Premium search fees £195 plus VAT
- HM Land Registry Land Charges bankruptcy searches £6 plus VAT per name
- HM Land Registry Official Copy Entries £7 plus VAT per copy
To book an initial consultation, please contact us on the details below:
Poole: 01202 674425
Bournemouth: 01202 558844
enquiries@rawlinsdavyreeves.com
To meet our private client team please click below
