Stan Kelly Probate Services Ltd offers a range of fixed fee and time-based services depending on the activities required.

Grant of Probate Only – Fixed Fees Instances

Generally, we charge a fixed fee for this service which depends on the complexity of the estate.

Our fees start from £960 (£800 plus Vat at 20%) for an estate which will not pay inheritance tax (IHT) and will not require tax allowances to be transferred from another estate (often referred to as a transferable nil rate band application). The normal range of fees for such work range from £960 to £1,800 inclusive of Vat.

If the estate will pay IHT our fees start from £1,200 but in order to provide a fixed fee or estimate of our fees we would require information about the estate so that we may understand the work required. The normal range of fees for such work range from £1,200 to £2,400 but may exceed this, for example if matters involve assets or gifts complexities made by the deceased which require in complex reportage to HMRC.

In cases where we are instructed to obtain the Grant of Probate or letter of administration only, our involvement ends once the Grant or letter is obtained. From thereon it will be the responsibility of the executors to wholly administer the estate.

Fixed fee services: where a full IHT return is not needed

• Obtaining a Grant of Probate (IHT205 form) – £800 plus VAT @ 20%
• Obtaining a Grant of Probate claiming a double nil rate band (IHT205 and IHT217) – £1,500  plus VAT @ 20%

Fixed fee services: where a full IHT return is needed

• Procuring a grant of Probate where a full IHT return is due, but no tax is payable (IHT400) – £1,000 to £2,000 + VAT @ 20%
• Procuring a grant of probate where a full IHT return is due, and tax is payable (IHT400) – £1,500 to £2,500 + VAT @ 20%

Fixed fee percentage rate services

We offer our Full Probate & Estate Administration Service on a fixed fee percentage rate, whereby the total cost is a percentage of the total gross value of the assets that we deal with.

Flat fixed fees range from 1.5% to 3.0%

This is usually the ideal basis of charging as it is easy, simplified and transparent for the executors and persons involved.

Full estate administration – Fixed fees Illustrations

Wherever possible, we can provide the option for this to be carried out on a fixed fee basis. Examples where a fixed fee may not be possible include:

1. Very complex assets, i.e. complex business assets for which the extent of our involvement cannot be assessed at the outset
2. Foreign assets
3. Complex taxation considerations
4. Probability of a contest to the Will or someone challenging the distribution of the estate. We may still be able to provide a fixed fee by excluding such events from the fixed fee and charging those at our hourly rate of £200 -£250 plus vat at 20%

We may still be able to provide a fixed fee by excluding such elements from the fixed fee and charging those at our hourly rates.

Simple Estate Example and Price Guide – Estate value £150-£250k

PRICE GUIDE: Full Estate Administration 1.0-2.5% – in the region of £1,500 to £6,250.

EXAMPLE 1:

• Estate Value: £150,000
• Valid Will
• 2 beneficiaries
• 2 bank accounts
• 1 property
• No trusts / no disputes or claims
• No IHT to pay
• 2 cash legacies
• HMRC short return (IHT205)

Total cost = £150,000 * 1.0% = £1,500 + VAT @ 20% = Total £1,800

Complex Estate Example – Estate Value £500k-£1m

Pricing indicators: Full estate administration – 1.5% – 2%

Property value £500,000 to £1000,000

£7,500 + Vat = £9,000 (£500,000 * 1.5%) to £20,000 + Vat = £24,000 (£1,000,000 * 2%)

Sometimes it is a challenge to ascertain whether or not these issues will be applicable at the beginning of the case and they may only become clear after a quotation has been agreed and a degree of work must have commenced on your behalf.

Once we are aware of any issues that will influence or impact the level of our fees and/or disbursements (see below) payable, we will inform you and give you an indication of the likely impact.

Matters in all Estate Administrations which may give rise to additional costs

• No Will (Intestacy) or proving a missing or damaged Will, Registering the death, or arranging the funeral
• Large number of individual shareholdings, or managed portfolios
• Arranging property insurance and managing the utility accounts until a property is sold
• Complex inheritance tax situations, including claims for agricultural or business assets
• Missing beneficiaries
• Disputes between executors and/or beneficiaries

Disbursements – 3rd party costs which may be incurred during the administration.

We will handle the payment of these disbursements on your behalf to ensure a smoother process (all figures inclusive of VAT if applicable)

• Probate court fees (£273) and additional copies (£1.50 per copy)
• Will, creditors and financial asset searches £114, £124.32 and £192 respectively
• Bankruptcy searches (£2.40 for UK, £100 estimated for foreign)
• Statutory notices (£250+vat where applicable)

In addition to the above, there may also be valuation fees, estate agents commission and conveyancing costs, and any taxes payable to HMRC in the estate.

Example of Fee estimation

The fees above are estimated based on the provision of information and scope of work. Should these requirements not be met we reserve the right to notify you of a revised figure or range and seek your agreement to the change.

We do expect to incur disbursements and other professional fees. Shown below are likely disbursements we incur on your behalf, and likely expenses in the course of carrying out our work for you. These will be added to our invoices where appropriate, unless agreed otherwise.

** min. 1% fee based on £300,000 property sale value.