The administration of an estate would be dealt with primarily by Jonathan Barry, with the assistance of Susan Barry, and a dedicated Probate assistant.
Our probate fees are charged on an hourly basis of £285.00 plus VAT.
The number of hours involved in dealing with an estate can vary considerably depending upon the number of assets and liabilities in the estate. However, following an initial consultation (without obligation), we are usually able to give an idea of the number of hours involved in the administration of the estate, which will depend upon:
If we are instructed to act on behalf of the Executors in connection with the administration of any Estate, then our fees would include obtaining all the relevant details of the assets and liabilities of the estate, preparing the probate papers for swearing by the Executors, applying for probate and arranging to settle any IHT Liability on behalf of the estate.
Once the Grant is to hand, we will thereafter collect in the assets of the Estate, prepare full Estate Accounts and attend to the distribution of the Estate in accordance with the terms of the Will.
Typically our charges would be as follows:
Please note that estates of this size do not always require probate but other action may be needed, for example registration of the death, making funeral arrangements, payment of final utilities or bills
However, please telephone as charges can vary depending on the number and type of assets held.
All professional costs are subject to VAT which is currently 20%.
In addition to our fees there may be disbursements to be paid, for example:
If we have been appointed as Executor by the Testator, we may also charge a value element, to reflect the additional responsibility placed upon the firm. This fee will have previously been agreed with the Testator at the time of appointment as Executor.
We will advise at the outset of the administration of any Estate the basis upon which the charges will be calculated.
Depending upon the number of assets held, and the sale of any real property which may be included in the Estate, the administration of an estate can take anywhere from 6 months, but the usual timescale (on the basis that there is no claim against the estate) is between 6 and 12 months.
If you would like to discuss any aspect of the administration of an estate, please contact us on 01323 766370 for more information or to book an appointment with Jonathan Barry to discuss matters.