Probate Price Transparency Statement

We strive to ensure that our costs in assisting clients with estate administration (and associated probate applications) are clear, predictable and proportionate. Whilst we will use our best endeavours to provide you with an accurate estimate as to likely fees (our own and third party costs) at the outset of your matter, we will revisit our costs (unless fixed) as your matter progresses.

We will work to agree a pricing basis with you suitable to the nature of the instructions provided including but not limited to:

• Fixed fees (this is likely where the remit of our instruction is defined and ascertained)
• Fees based on time spent (more likely where the nature of the estate is particularly complex or the administration required is unknown)
• A mixture of fixed fee and time spent elements (it may be that we are instructed to assist with the estate administration on a time spent basis with any post-death administration such as Deeds of Variation and Trust work being dealt with on a fixed cost basis.)
• The charges you will pay in consideration of our assistance will include our own costs (which will be subject to VAT at the applicable rate which is currently 20%) and such other fees and expenses payable to third parties as required to complete the administration, referred to as ‘disbursements’.

Bexley Beaumont’s Legal Fees

We have provided details of likely charges (including legal fees and disbursements) to be incurred where we are instructed in the case of:

• An estate where there is a valid Will (which is not contested)
• All beneficiaries are known and ascertained (not exceeding 10 in number)
• The assets and liabilities in the estate are within the UK and:
  1. Do not exceed 10 bank accounts
  2. Do not include more than one property
  3. Do not include unlisted shares
  4. A full inheritance tax return is not required and there is no tax payable
  5. There is no disagreement between the beneficiaries

We would be happy to assist with more complicated estates including international assets, Trusts, taxable estates, full inheritance tax returns and claims for reliefs and exemptions, but in such cases we will consider the nature of the estate to agree with you an individual estimate or quote on the facts.

Similarly, to the extent that your matter is more straightforward, perhaps an estate with only one property or it is a simplified estate where a surviving spouse survives (and as such a matter of transferring once probate has been granted) our costs will be reflective and agreed on the facts.

In the case of an intestacy, costs will vary case by case depending on the nature of the probate application required (and ancillary applications for appointments of second trustees), and again, in such a case we would ask you to make contact to discuss the estate in question in order for us to provide a fair and accurate estimate if not a quote.

To the extent a matter becomes more complicated than initially envisaged, or if additional assets or liabilities are discovered or if you require us to assist with matters not originally anticipated, we will discuss with you how this additional work will be charged, either by an agreed extension to the quoted hours required (where costs are calculated based on time spent) or by increasing the fixed costs originally quoted. We will raise the need to increase our costs agreed where required at our earliest convenience.

Disbursements payable to Third Parties as part of the estate administration

Timeline of Estate Administration

The fees quoted above relate to an estate for which we have been instructed to obtain probate and to take the estate through to distribution and conclusion. Whilst there may be variations based on the facts, we would ordinarily expect such a case to progress as follows:

• Attending with the executors to consider the Will, identify those entitled to take the grant and immediate requirements for the estate security. Taking instructions and advising more specifically in terms of timescale and costs.
• Writing to asset and liability holders to confirm values at the date of death as required for probate purposes (and estate accounts). Similarly in connection with state benefits and private pension income. If required, calculating the income tax position up to the date of death (although we will not submit a formal return as part of our instructions)
• Writing to beneficiaries.
• Once the estate assets and liabilities are ascertained, calculating the inheritance tax figures for the grant (gross and net) and preparing the Legal Statement to attend the original Will for the probate application. Depending on the date of death we may have to produce a short form inheritance tax return.
• Attending with the executors to advise them of the assets and liabilities at the date of death and once agreed obtaining their signature to the Legal Statement.
• Submitting the probate application online with the wet Legal Statement and original Will to follow to the probate registry.
• Once probate is granted writing out to all assets holders with closure forms, claim forms and sale instructions and a sealed copy grant for collection of proceeds into our client account
• Settling all outstanding liabilities and expenses.
• Preparing estate accounts for agreement by the executors.
• Carrying out checks via the s27 legal notices and bankruptcy searches.
• Discussing the risk of claims under the Inheritance Act 1975.
• Writing out to the beneficiaries to obtain their bank details. Putting forward the option for deeds of disclaimer or variation (please note, substantive instructions to assist with such post-death steps will be charged separately and outside of the estate).
• Dealing with interim distributions.
• Dealing with income tax in the administration period and ensuring all other obligations to HMRC have been satisfied.
• Producing final accounts.
• Attending to final distributions in accordance with the terms of the Will

Services Not Included

The example provided above upon which we have summarised likely costs and disbursements does not include and we will not assist with or advise upon the following unless specifically agreed:

• contentious elements either a probate claim proper or an Inheritance Act claim. We will signpost you to one of our partners for such assistance.
• Any other tax apart from inheritance tax and income tax and capital gains tax in the administration period. We will help you to identify a trusted accountant where required.
• Any ongoing administration of trusts within the Will or those related to the estate. We are able to assist with trust administration although a new retainer will be entered into with Bexley Beaumont and the Trustees (who may or may not be the same as the executors)
• Assets outside the jurisdiction

Timescales

On average, estates that fall within this quote range are dealt with within 3 – 9 months.

We would expect to apply for the grant of probate within 2 – 6 weeks

On average, probate is usually granted within 3 – 6 weeks

Collecting assets then follows, which can take between 3 – 4 weeks.

Once formalities have been complied with and the executors have been protected, we will work to deal with distributions as quickly as possible, which normally takes 2 – 4 weeks.

How we help

Bexley Beaumont are probate specialists, they are trusts and estates practitioners (STEP qualified) and are happy to help you with your estate to the extent required.

We offer a bespoke service and whilst we are happy to deal with the most complicated estates including those with multiple trusts, inheritance tax liabilities and claims for several inheritance tax reliefs we are similarly happy to assist those who simply require our assistance for a specified stage or part of the estate administration process such as:

• Obtaining the grant only (the executors providing all the valuations and once grant is issued dealing with the closure and collection of estate assets for distribution)
• Preparing the Inheritance Tax 400 and associated supplements (for the executors to deal with the rest of the probate application and estate administration)
• Preparing estate accounts
• Dealing with property transfers (assents)
• Trust registrations on conclusion of an estate

Your case will be dealt with by Bexley Beaumont’s private client partner (a STEP qualified solicitor) at all stages and you will liaise with them directly and consistently throughout. Your case will not be delegated to non-qualified administrators / paralegals or junior solicitors and as such you can ensure that your case will be dealt with accurately, time efficiently, cost efficiently and with a view to the estate concluding as quickly as possible.

Should you require assistance with an estate or any part of an estate, please do not hesitate to contact one of our Private Client Partners within the Private Client Team