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 (£273 + £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 (£273 + £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 (£273 + £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).