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The timescales for estate administration matters range typically from 6 to 18 months, dependant on factors such as the type and amount of assets and liabilities; whether a Grant of Representation is required; whether the estate is subject to inheritance tax and whether the estate includes a property. If the estate is particularly complicated, the matter may take longer to conclude. Examples of more complex matters would include estates involving claims for Agricultural Property Relief (‘APR’), Business Property Relief (‘BPR’) and Residence Nil Rate Band (‘RNRB’).
“Everything was explained well to me and my family at a very difficult time, with care and sympathy.”
The price for dealing with an estate administration matter for an uncontested estate with all of the assets in the UK typically range from £3,000 to £15,000 and are exclusive of VAT and dependant on a number of factors including:
- Whether a Grant of Representation is required, or whether matters can be dealt with under the Small Estates Procedure.
- The number of assets and liabilities of the estate.
- The value and nature of the assets within the estate.
- Whether or not there is a Will.
- The number and complexities of any debts/liabilities in the estate.
- If there is a Will then the instructions within the Will and if the Will contains a trust.
- The number and location of the beneficiaries.
- Whether claims for APR, BPR and/or RNRB apply.
- Whether you will need all aspects of the estate administration to be undertaken by Harrisons.
Once the Executors have provided details of the estate assets and liabilities, Harrisons can provide a bespoke costs estimate in the very early stages of the estate administration. We also regularly review the costs and keep you informed if the original costs estimate needs any revision, and if it does, why.
“Professional, kind, efficient and sympathetic too!”
Where you require ad hoc advice and assistance only, we would charge for the time we spend advising and assisting you. These charges are on an hourly rate, the details of which are set out below. Once we understand the advice required, we can provide a bespoke cost estimate.
The hourly rates that apply to the individuals conducting the work are:
- Trainee Paralegal £120 & vat per hour
- Paralegal / Trainee Solicitor / Apprentice Solicitor £140 & vat per hour
- Legal Executive £215 & vat per hour
- Senior Legal Executive with over 4 years experience £235 & vat per hour
- Solicitor with between 0-4 year post qualification experience £215 & vat
- Senior Solicitor with between 4-8 years post qualification experience £235 & vat
- Senior Solicitor with over 8 years post qualification experience £255 & vat
VAT is 20%
Harrisons also generally issue the first interim bill only once the Grant of Representation has been issued, and the assets can be realised to settle liabilities. Thereafter, we generally issue monthly bills so that you can keep a track on costs as they are incurred.
Our price does not include external costs associated with an estate administration matter, such as
- the probate court fees – £165 application fee plus £1.50 per copy of the Grant of Representation.
- publication of statutory notices £250 – £350 plus vat – estimated
- Copy title deeds – Office copy Entries and filed plan – £6.00 plus VAT and copy documents.
- Valuation fees.
The price for dealing with the estate administration matter does not include any conveyancing fees for the sale/assent of any property within the estate. These are charged for separately by the Property Department.
To receive your free, no obligation estimate please call us on 01938 552 545 (Welshpool) or complete our free online enquiry.
