Our services Probate
A discreet and compassionate service
Losing someone can be one of the most stressful and emotional times of your life. We offer a cost-effective bespoke service to suit each person’s requirements
At ATC Advisors we understand that losing someone can be one of the most stressful and emotional times of your life. It therefore seems unfair that you may have the additional responsibility of overseeing the legal and financial aspects of the estate.
Our Team are able to take some of the stress away by handling all the legal and compliance aspects of probate and estate administration process as well as giving you advice on:
- Wills;
- Executorships;
- Estate Planning;
- Trusts;
- Inheritance Tax Planning
Probate and estate administration is largely an accounting and taxation exercise so we are best placed to do this work. We endeavour to offer a competitive bespoke service to suit each person’s requirements.
At ATC Advisors we aim to complete the process as quickly and efficiently as possible whilst keeping costs and taxes to a minimum.
Contact us, we are always willing to talk through any of these matters with you.
Peter Stevenson
Partner
Probate Pricing
Thank you for taking the time to peruse our Probate information guide
The fees involved in a probate matter can vary and this will depend on the individual circumstances involved.
We offer a fixed fee where Personal Representatives ask us to obtain the Grant of Probate or Letters of Administration (collectively known as a Grant of Representation) for them in simple estates, so they can then deal with the administration of the estate themselves.
Grant of Representation only
| Matter | Fee (Exc VAT) |
|---|---|
| Fixed Fee for grant of representation only, where the short form of the IHT Return (IHT 205) | £750 |
| Fee for grant of representation only, where the long form of the IHT Return (IHT400) for estates below £1.0m | £900 - £1,300 |
| Fee for grant of representation only, where the long form of the IHT Return (IHT 400) for estates between £1.0m and £2.0m | £1,300 - £1,800 |
Grant of Representation and Estate Administration
We can, having obtained the Grant of Representation, administer the estate on your behalf. In consideration for the fee, we will:
- Tax returns during period of administration
- Collect in all assets in the Estate and settle the liabilities
- Distribute the Estate in accordance with the terms of the Will
- Prepare a detailed account of the Estate for the Executors and Residuary Beneficiaries
Probate fees will typically vary, depending on the number of executors and beneficiaries, the number and value of any property, the number of bank / investment accounts, number and value of any shareholdings etc
We can deal with the full process for you: set out below an indicative range of costs based on estimated time required.
| Matter | Fee (Ex VAT) |
|---|---|
| Estate value of up to £50,000 without a property and up to 4 accounts | £250 – £500 |
| Estate value between £50,000-£100,000 without a property and up to a combined total of 10 accounts and shareholdings | £500 – £800 |
| Estate value £100,000 - £325,000 to include a property and up to a combined total of 15 accounts and shareholdings | £1,250 – £1,750 |
| Estate value £325,000 - £650,000 to include a property and up to a combined total of 20 accounts and shareholdings | £2,000 – £3,000 |
| Estate value £650,000 - £1,000,000 to include a property and up to a combined total 30 accounts and shareholdings | £4,000 – £6,000 |
| Estate value over £2,000,000, dependant on composition, by agreement | POA |
(Values stated refer to the gross value of the Estate)
Otherwise, we offer an hourly rate charging rate, whereby you will be only be charged for the time spent on the matter.
ATC Advisors hourly rates
| Partners | £175 |
| Probate Manager | £90 |
| Assistant Probate Clerk | £60 |
| Trainees / Administration | £40 |
Disbursements
Disbursements are costs related to your case that are payable to third parties, such as Court fees. We settle the disbursements on your behalf to ensure a smoother process and in some cases to save the Estate money.
Anticipated Disbursements
| Item | Cost |
|---|---|
| Probate Fee | £273 |
| Office Copies for the Grant of Probate, each | £1.50 |
| Land Registry Search Fee | £3 |
| Valuation Fees | Vary |
| Advert in the Local Newspaper / London Gazette | Vary |
| Bank Transfer Charges | Vary |
(Accurate as at 1st May 2022)
Additional Costs
The cost of transferring / selling a property is not included in the above prices. However, we can obtain quotes from suitably qualified and experienced firms.
Other more extreme disbursements, for example, costs incurred with tracing a lost Will, tracing lost assets, replacing lost share certificates, indemnity insurance policy if beneficiaries cannot be traced, are all recharged at cost.
General
If, having considered this guide, there are any queries or further information required, please ask. We want to ensure, before undertaking the work, that you are aware of the extent of the work and the cost thereof.
Accounts & Tax Centre (Southwest) LLP, T/A ATC Advisors
Chartered Accountants
01566 772177
Updated 1st May 2022
Exclusions
Generally, the fees will be within the ranges set out above, however there may be unforeseen factors which could increase the time required and therefore the charges. Where there is likely to be any additional cost, we will inform you of this at the earliest opportunity with a clear written estimate of such.
In addition to the fees detailed above, additional fees may be charged if the Estate involves any of the following:
- Sorting through numerous old papers
- Missing title deeds or share certificates
- Beneficiaries having to be traced e.g., because their contact details are not known by the executors
- There are trusts in which the deceased had an interest which need to be considered
- Agricultural or business property
- Private company shares
- Foreign assets
- Specialist assets e.g., private collections
- The estate is subject to Inheritance Tax or there are complex tax issues
- The renunciation of an executor
- A Will where the terms are unclear
- Tax advice
- Deeds of variation or disclaimer
- Other unusual or complex situations
