What is the likely cost of estate administration work?
We offer a flexible pricing structure to suit our clients’ needs. For estates of up to £1m we offer two options: • the client can be billed at the hourly rate of the legal advisor handling the matter. Presently, hourly rates range from £150 to £300 (plus VAT) depending on the level of expertise required. • a fixed rate fee of 1.5% is charged against the value of the gross estate for inheritance tax purposes; that is, the total of all the assets, including the share of joint assets, before the deduction of liabilities and administrative costs (plus VAT and incidental expenses such as probate court fees). A minimum fee of £500 (plus VAT and expenses) applies. Again, for estates above £1m we are able to offer the same options detailed above except that the fixed rate percentage fee will be reduced to 1% in relation to any excess over £1m. If we receive instructions to obtain just a Grant of Probate, where the client wishes to administer the Estate himself, a fixed price of £500 (plus VAT
