We recognise that value for money is a pre-requisite for all expenditure, and professional fees are no exception to this.
Our probate fees are calculated on a fixed fee basis, varying depending on the size and complexity of the estate and the members of our team that will be working with you.
We create clarity on costs at an early stage of our client relationship and arrange an initial meeting to establish some key details that will help to inform our rates:
- The type and value of assets that the deceased held;
- Whether there is a valid Will and the executors are willing to act;
- Family history, including details of any lifetime gifting;
- The level of assistance the executors will need in respect of the probate process i.e. notifying various financial institutions regarding the death;
- Whether there are any foreign assets or foreign matters to consider such as domicile/residency status; and
- The type of Inheritance Tax (IHT) forms required to be submitted and whether any IHT will be payable – IHT205 (simple cases) or IHT400 (full account for more complex cases).
Following our meeting with you, we will provide a detailed fee quote for applying for a grant of probate.
Should additional information become apparent, following this initial meeting, that has a bearing on the grant of probate and work involved, the fee quote will be updated accordingly. Our team will notify the executors as soon as possible should any fee adjustments be required.
Clare Goodswen, Partner
Emma Hunt, Senior Tax Manager
Tessa Morgan, Senior Tax Manager
The time required to apply for the grant of probate will vary, depending on individual circumstances.
To provide an indicative picture of the factors that determine a fee quote for probate work, we have published two example case studies.
Estate Administration Fees
In addition to applying for the grant of probate, our team is able to assist with the administration of the estate. We undertake varying levels of work to suit the individual of the client and the estate.
This work is subject to many variables and therefore our fees alter to suit each client.
- Sending the grant of probate to the appropriate financial institutions;
- Collecting the assets of the estate into our client monies bank account;
- Distributing the assets of the estate from our client monies bank account in accordance with the terms of the Will;
- Preparation of estate accounts;
- Preparation of estate tax returns/informal procedures; and
- Preparation of beneficiaries tax returns (if applicable).
The M+A Partners’ complaints procedure provides clients with the reassurance that any complaint will be handled and resolved in a professional and efficient manner. As a firm, we are committed to acting in the best interest of our clients and undertake any work to the highest standard.