Spencer & Fisch solicitors in Leeds, West Yorkshire

PROBATE COSTS

'Your personal legal service in Leeds'

+44113 232 1919

Probate costs

We can provide you with a different range of services depending on what you want us to do and what you are prepared to do yourself. If you are confident to deal with some matters yourself we can obtain a grant of probate or administration for you allowing you to deal with the administration of the estate yourself. Alternatively we can both obtain the grant and deal with the administration of the estate as well. This of course will be reflected in our fees.

If you want us to obtain a grant only we can normally deal with this for a fixed fee of £700.00 plus VAT of £140.00 plus disbursements*. This fee would include:

• An initial attendance on you
• Drafting the application form for the grant
• Completing an Inheritance Tax form IHT205 only from the information supplied by you
• Arranging for you to sign the application for the grant and the IHT205 and submitting these to the Court and obtaining the grant.

*Disbursements are monies that we would have to pay out on your behalf for items such as Court fees (estimated at £273 with VAT not being payable on this amount), statutory advertisements (estimated at £100 plus VAT of £20 if required), local newspaper adverts (up to £260 plus VAT of £52) and office copies (£1.50 each plus £0.30p VAT for each one)

This service does not include:

• Obtaining any details or values of the assets in the estate
• Registering the grant with any body
• Administering the estate
• Dealing with the transfer of any assets or property
• Completing any other tax form other than the IHT205.

If you would prefer us to provide a service including obtaining values of assets in the estate, for example Bank and Building Society accounts and shares, and then collecting and distributing the estate in addition to completing the IHT205 and obtaining the grant we can do this for a fixed fee of £2,500 plus VAT od £500.00 and disbursements on the following basis:

• The estate comprises up to ten separate assets or accounts and up to five different beneficiaries in the UK.
• In addition to completing an IHT205 and obtaining the grant to the estate we will write to bodies holding assets to obtain values, following receipt of the grant registering it with the relevant bodies and arrange for withdrawal of funds, prepare accounts for approval and distribute the funds to the beneficiaries.
This however will not include:
• Dealing with an Inland Revenue form IHT400 or any Schedules or forms in addition to a form IHT205;
• Transfers of any property;
• Completing any probate forms other than an application for a grant of probate or administration, if there is no Will;
Any disputes;

Court fees or any other necessary disbursements.

Cost estimates for more complex matters

For complex or additional work our fees are based on an hourly rate plus VAT (at a rate of 20%) which differs for each individual dealing with the matter on your behalf. In addition there will be a fee based on between ½% to 1% of the value of any property, freehold or leasehold, held in the estate together with VAT (at a rate of 20%) thereon.

We are happy to discuss any probate matter with you and provide a more detailed estimate for more complicated matters if, for example, the estate is above the Inheritance Tax threshold and a form IHT400 needs to be completed.

Timescale

Timescale for a probate matter depends on a number of factors including the number of assets and the number of beneficiaries, whether or not it is necessary to advertise for creditors or wait for expiry of the period for any claims against the estate of six months from the date of the grant. In general where the estate does not involve completing an Inland Revenue form IHT400 obtaining a grant would usually take in the region of two to three months. Collecting in the assets and paying the debts can take between two and three months and then distributing the assets two to four weeks.

Our People

John Leahy – Partner and Solicitor, with over forty years' experience in dealing with wills & probate

Philip Shedlow – Partner and Solicitor, with over forty years' experience in dealing with wills & probate

Helena Watkins – Wills and Probate Executive, with over twelve years' experience in private client work