EXAMPLE 1
A relatively simple estate which could include the following assets:

• Main residence (freehold or leasehold property)
• Bank accounts
• Unit trust and or individual savings accounts

Typical service provided

• Review and valuation of the estate assets and liabilities. Determining the estates Inheritance Tax position
• Preparation and submission of the application for the grant of representation
• Preparation of the estate accounts
• Upon receipt of the grant completing the estate administration

Estimated/typical fee £2000 + 20% VAT £400 = Total £2400. Additional costs include but not limited to, Probate application fee (£300 + £1.50 for each extra copy of the grant), freehold conveyancing fees (fee to be agreed before instructing the relevant expert).

EXAMPLE 2
A more complex estate which could include the following assets:

• Main residence (freehold or leasehold property)
• Business land and buildings
• Business (sole trader, partnership or private limited company)
• Pension/annuities
• Bank accounts
• Unit trusts and or a small number of shareholdings

Typical service provided

• Review and valuation of the estate assets and liabilities including obtaining property and business valuations
• Determining the estates Inheritance Tax (IHT) position and completion and submission of IHT forms as required
• Preparation and submission of the application for the grant of representation.
• Preparation of the estate accounts

Upon receipt of the grant completing the estate administration, including realising estate assets, making payments to settle estate liabilities and distributing the estate to residuary beneficiaries
Estimated/typical fee £5500 + 20% VAT £1100 = Total £6600. Additional costs include but not limited to, Probate application fee (£300+ £1.50 for each extra copy of the grant), freehold valuation and conveyancing fees (fee to be agreed before instructing the relevant expert).

EXAMPLE 3
A complex estate valued at say in excess of £2,500,000 which could include the following assets:

• Main residence (freehold or leasehold property)
• Bank accounts
• Government stocks such as Treasury Stock
• Premium Bonds
• Significant number of individual company share holdings
• Foreign investments for example bank accounts or share holdings

Typical service provided

• Compiling and valuation of the estate assets and liabilities including obtaining property and business valuations
• Determining the estates Inheritance Tax (IHT) position and completion and submission of IHT forms as required
• Preparation and submission of the application for the grant of representation.
• Completion of self Assessment Tax Returns as required
• Arranging conveyancing of freehold property and if required deed of variation
• Preparation of the estate accounts
• Upon receipt of the grant completing the estate administration, including realising estate assets, making payments to settle estate liabilities and distributing the estate to residuary beneficiaries

Estimated/typical fee £16,000 + 20% VAT £3200 = Total £19200. Additional costs include but not limited to, Probate application fee (£300 + £1.50 for each extra copy of the grant), freehold valuation, conveyancing fees, legal fees for deed of variation, share dealing service fees (fee to be agreed before instructing the relevant expert).