The average cost of winding up an Estate is £4,000 – £6,000 + VAT and disbursements
There are circumstances in which the cost will be significantly lower than the average, for example if we are asked only to obtain the Grant of Probate with the Executor dealing with the winding up of the Estate. In this example, the average cost would be between £2,000 and £2,500 + VAT and disbursements. In extremely simple cases, the costs could be as low as £1,500 + VAT and disbursements.
There are circumstances in which the cost may well be higher than the average, for example if there is a complex Inheritance Tax situation which involves considerable work in preparing the Inheritance Tax Form or extensive correspondence with HMRC, or if there are family disputes or Trusts that involve a larger than average amount of work.
We will always give you a cost range estimate at the outset of the matter and will always speak with you throughout if circumstances arise in which we think our initial estimate will need to be revised.
The work that we do will be on an hourly rate basis. Our hourly rate for probate work is £300.00 + VAT. The hourly rate may be higher than this in cases of extreme urgency or extraordinary complexity. We would speak with you and agree this in advance in situations in which this may be necessary, but in the vast majority of cases, the hourly rate will be £300.00 + VAT.
Who Will Carry Out The Work For You
The members of our Firm that undertake Probate work are Genene Collins and Sital Patel who are both Directors of the Firm and are both Senior Solicitors with many years of experience in Private Client work including Probate.
Examples of disbursements that could be incurred for probate work, which you are liable to pay in addition to our fees are:
- Commissioner’s fees for swearing the Probate Oath: £5.00 for each Oath plus £2.00 for each exhibit, per person
- Probate Registry fees on obtaining the Grant of Probate: £155.00 application fee and £0.50 for each Office Copy
- Certainty Will Search: £90.00 + VAT
- Land Registry fees if changes are required to the Register
We will let you know what disbursements are likely to be incurred when you instruct us. If this changes at any time during the matter, we will let you know.
VAT is currently 20%.