Probate and Estate Administration Costs
Last updated on August 9th, 2022 at 09:48 am
Graysons has been carrying out probate and the administration of estates since 1925.
Laura Cowan heads the team and supervises all probate matters. Our private client advisors, Chris Shaw, Maria Amin and Ellie Bowater also carry out probate work.
Our fees are based on various factors, including the complexity of the matter, the level of assistance required to complete the work, the value of the estate and disbursements that have to be paid. Whilst it is difficult to give an accurate estimate of costs before we have detailed information about the estate to be administered, our experience shows that the following charts of costs will cover many situations.
Grants of Representation
| Work type | Description | Cost |
|---|---|---|
| Grant of Representation – non-taxable estate | Take instructions from executor, extract grant and hand to executor to deal with administration. Executor to gather and provide all relevant information for application. | £750 Plus VAT and disbursements. |
| PI Grant of Representation – non-taxable estate | Take instructions from executor, extract grant and hand to executor to deal with administration. Executor to gather and provide all relevant information for application. | £1000 Plus VAT and disbursements. |
| Grant, transfer of NRB and completion of IHT400 | Non-taxable estate | From £1,500 Plus VAT and disbursements. |
| Grant, transfer of NRB and completion of IHT400 | Taxable estate | From £2,500 Plus VAT and disbursements. |
| Additional Deeds | Deed of Variation | From £500 Plus VAT |
| Deed of Appointment | From £250 Plus VAT |
|
Estate Administration
| Work type | Description | Cost |
|---|---|---|
| Estate Administration | Where Graysons are not Executors | £2500 plus 1.5% of the gross value of the estate. |
| Where Graysons are Executors with lay beneficiaries | £3500 plus 1.5% of the gross value of the estate. Plus VAT and disbursements. |
|
| Where Graysons are Executors and beneficiaries are not involved in the administration process (Charities, Incapable, Unknown) | £2,500 plus 2%-4% of the gross value of the estate (up to a maximum of 4% of the estate). | |
| Contentious | In matters that have been contentious or where a claim is made against the estate then hourly rate will be charged for this element of the administration in addition to the costs above. | |
Trust Administration
| Work type | Description | Cost |
|---|---|---|
| Trust registration with HMRC | £500 plus VAT | |
| Additional deeds required | £250 plus VAT | |
| Transfer of Property Title | Transfer title into names of Trustees | £406.67 plus VAT and disbursements |
| Grant of Representation for property transfer only | £400 plus VAT | |
| Preparation of tax return | £500 plus VAT | |
| Ongoing Management of the trust | Hourly rates apply | |
Who will deal with Probate and Estate Administration?
Probate and Estate Administration is dealt with by Solicitors, Legal Executives and Private Client advisors of appropriate and equivalent experience, assisted by graduates, trainee solicitors and trainee legal executives subject to appropriate supervision. For more information please refer to our Meet the team
| Qualification |
Hourly Rate |
|---|---|
| Partner / Head of Department |
£275 |
| Senior Private Client Advisor |
£230 |
| Probate Paralegal / Trainee Solicitor |
£175 |
| Private Client Advisor |
£146 |
| Junior Paralegal |
£120 |
Hourly rates will be capped where a fixed fee has been offered
There is no inclusion within the costs above for any conveyancing related to, and required as a result of, the administration of the estate. These costs will be quoted for separately.
Where unforeseen circumstances, or matters that protract the completion of the matter, are encountered, we reserve the right to vary the above costs. We will advise you as quickly as possible when we become aware of any such events.
