HOW OUR FEES AND OTHER COSTS ARE DETERMINED

While we aim to give you a fixed fee quote where possible, there will be occasions that our fees will be based on the amount of time we spend on your matter.

Our work on wills and probate matters are currently charged on the following hourly rates:

We are obliged to charge Value Added Tax (VAT) on our professional fees, which is currently charged at 20%

In addition to our hourly rates, we may also need to pay costs (known as “disbursements”) on your behalf which relate to your matter and are payable to third parties. Possible disbursements are:

• Probate application fee

• If required, adverts in the London Gazette and possibly other newspapers

We can confirm the above and the cost when we discuss your matter with you. We will normally request monies on account to pay these disbursements once they have been identified.

WILLS - ESTIMATE OF COSTS

To make writing a will accessible to all, our charges for preparing standard wills are fixed. 

If your will is more complex, we will provide you an estimate of our costs once we have spoken with you and had the opportunity to fully understand your instructions, and any possible unforeseen issues.

LASTING POWERS OF ATTORNEY - Estimate of costs

COURT OF PROTECTION 

If your loved one has already lost capacity, we may be able to assist you in making an application to the Court of Protection for you to be appointed as their Deputy. Our fee for this is fixed by the court at £950 plus VAT / plus the court fee of £421 and other necessary costs which will depend on the matter, such as a medical report and insurance bond fee.

PROBATE - ESTIMATE OF COSTS 

This is often a challenging and distressing time and we can assist you by offering advice and support in the process of dealing with the affairs of your loved one. We can provide you with various options, including our Grant Only Service or, alternatively, you may wish us to deal with the Full Estate Administration. 

We will be happy to have a FREE INITIAL CHAT with you to advise you on your options.  

Below is the fixed fee structure we use when determining our pricing for probate matter:

The above fees exclude the probate fee of £300 plus £1.50 for each additional copy.

Grant Only Service

This includes the following:

• Assessment of the estate and advising you on the procedure to obtain probate, including any liability for inheritance tax

• Preparing form IHT400 (if required) to submit to HMRC

• Arranging payment of any inheritance tax and advising you of your options (if required)

• Obtaining the Grant of Probate or Letters of Administration (where there was no Will)

Full Estate Administration

This includes the following:

• Valuing the estate 

• Preparing form IHT400 (if required) to submit to HMRC

• Arranging payment of any inheritance tax and advising you of your options 

• Obtaining the Grant of Probate or Letters of Administration 

• Collecting in the estate assets 

• Payment of any estate debts 

• Preparing the estate account 

• Distributing the estate to the assigned beneficiaries 

Although our fees may vary, we will try, where possible, to offer you a fixed fee from the outset. Your options include the following:

OPTION 1 – ESTATES UP TO £500,000

Fixed fee: £4,950 (plus 20% VAT)

This quote is for estates where:

• There is a valid will 

• No inheritance tax is due 

• The executors are not required to submit to HMRC a full account (form IHT400)

• There is no more than one property

• There are no more than 5 assets (including bank accounts/building society accounts and investments)

• There are no foreign assets 

• There are no more than 5 beneficiaries 

• There are no disputes between beneficiaries on the division of assets 

• There are no claims made against the estate 

OPTION 2 – ESTATES UP TO £1,000,000

Fixed fee: £6950 (plus 20% VAT)

This quote is for estates where:

• There is a valid will 

• No inheritance tax is due 

• There are no other complicating factors, such as lifetime trusts and/or gifts which necessitate a full IHT400 declaration to HMRC 

• There is no more than one property 

• There are no more than 10 assets (including bank accounts/building society accounts and investments)

• There are no foreign assets 

• There are no more than 10 beneficiaries

• There are no disputes between beneficiaries on the division of assets 

• There are no claims made against the estate 

OPTION 3 – HOURLY BASIS 

This will depend on the fee earners carrying out the work on your matter. This is based on an hourly rate of £350 (plus 20% VAT)

Please note, these are estimated costs so the final cost may vary, but we will do our best to provide you with either a bespoke quotation or estimate from the outset, keeping you fully informed of the costs throughout. 

Services/items which will be charged separately and accordingly 

• Insuring assets or dealing with obtaining insurance 

• Transfer or dealing with the sale of property

• Dealing with personal possessions 

• Dealing with a tax return on behalf of the estate 

• Deed of variation 

• Dealing with a business interest

• Placing S.27 notices (to protect the Executor against unknown debts)

• Bankruptcy searches 

• Tracing unknown beneficiaries

• Missing Wills 

• Home visits unless you are within a 10 mile radius and are unable to attend our office (if required) due to a recognised medical condition 

• Probate fee of £300 (plus £1.50 for each additional copy)

• Any tax advice that may be required if the matter is complex

HOW LONG WILL YOUR MATTER TAKE TO CONCLUDE?

We always aim to provide you with clear timescales at the outset. These will be updated as your case progresses. Some general guidance on this is as follows:

• Wills – we will aim to complete these within 2 to 4 weeks from the date of your final instructions 

• Lasting Powers of Attorney – these currently take approximately 3 months to register with the Office of the Public Guardian

• Probate – for simple matters, we can normally obtain this within 6 to 8 weeks (depending upon the Probate Registry)

• Full estate administration – this normally takes between 6 to 12 months to conclude 

You will appreciate that every case is different and there are always factors outside of our control. We will ensure that you are regularly updated on the progress of your matter.

WHERE TO GO NOW

If you have any questions about any of our fees listed on this page, please do not hesitate to contact our team on 0113 457 3500 or info@needlepartners.com.