Full Estate administration

Helping you every step of the way

Dunkley’s are able to obtain a Grant of Probate/Letters of Administration to the Estate and deal with the full administration and division of assets if required. This comprehensive service including obtaining the Grant of Probate and the administration of the Estate is based upon our hourly charges. The fees will vary according to the number of hours spent on the matter however they can range from £3,000.00 – £11,000.00 plus VAT at the prevailing rate (currently 20%) depending on complexity.

• Simple Matters – £3,000.00 – £5,999.00 plus VAT

A simple probate is likely to involve an Estate with one property, one bank account (or a number of bank accounts with the same financial institution) and one beneficiary, all of which are located in the UK. 

• Medium Complexity Matters – £6,000.00 – £7,999.00 plus VAT

Medium complexity matters are likely to involve one property, multiple bank accounts with different financial institutions, an investment portfolio, and multiple beneficiaries.

• Most Complex Matters – £8,000.00 – £11,000.00 plus VAT
  More complex estates are ones where there is more than one property, multiple bank accounts, more complex asset classes including intangible assets such as shares held electronically, business interests and/or foreign based assets and multiple beneficiaries. There may also be issues in relation to domicile and tax residency.

For transparency, our costs per hour are as follows:

 Disbursements

There are a number of disbursements that may need to be paid in addition to the above costs including:

• Probate fees – £155.00 plus £1.50 per copy of the Grant
• Statutory notices – £150.00 – £250.00
• Bankruptcy searches – £2.00 per search
• Land Registry Search on title – £3.00
• Copies of Wills and Death Certificates – £11.00 per copy

The Administrative Process

The administrative process typically follows three stages:

1. Grant of Probate / Letters of Administration:

• Locating the Will and ensuring it is the last Will and its validity
• Supplying copies of the Will to interested parties (and if no Will, assessing who is entitled)
• Advising Executors / Administrators as to the process
• Registering the death and preparing the Death Certificate Verification Forms
• Identifying the beneficiaries and liaising with them to explain their entitlement under the Will/Rules of Intestacy. This will include advice about the incidence of Inheritance Tax in the Estate
• Contacting all financial and other organisations to inform them of the death and gathering information about assets and liabilities within the Estate
• Liaising with Trustees where the Deceased was a beneficiary of a Trust during their lifetime
• Contacting utility companies, organising a postal redirection, and liaising with Estate agents regarding the value of the property at the date of death
• Preparing an Income Tax Return to the date of death
• Receiving responses from all organisations allowing us to prepare the Oath for swearing by the Executors or Administrators
• Completing the Inheritance Tax Return for HM Revenue and Customs and claiming all available reliefs
• Negotiation with HM Revenue and Customs when necessary
• Organising payment of Inheritance Tax (if any) prior to the Grant issuing
• Making the application for Grant of Probate or Letters of Administration through the Probate Registry
• Tracing of beneficiaries

2. Work required after receipt of the Grant of Probate /Letters of Administration:

• Registering the Grant in all appropriate areas
• Realising assets to repay any liabilities
• Sale of any land and property in the Estate
• Placing of advertisements for creditors
• Consider making partial distributions to the beneficiaries
• Searching the Unclaimed Assets Register
• Preparing and submitting a final Income Tax Return for the period of Estate administration
• Submitting a corrective account to HM Revenue and Customs if necessary

3. Work required to finalise an estate:

• Agreeing the final liability and obtaining a Certificate of Discharge from HM Revenue and Custom to include completing Income Tax and Capital Gains Tax Returns and issuing of certificates of deduction of tax to beneficiaries
• Preparing and circulating accounts
• Making final distributions and obtaining receipts
• Undertaking bankruptcy searches against beneficiaries
• Distributing assets in accordance with the Will and finalising the administration
• Constituting any Trusts that arise out of the Will and transferring matters to Dunkley’s Probate team (where relevant) to deal with any continuing Trust administration

Timescales for Estate Administration

The average matter will approximately take 12 to 24 months to complete. Below is a very simplistic table outlining the key timescales. For a more detailed Probate timeline, click here.

Please note, the time guidelines above are approximate, and each Estate varies depending on the assets, matters involved, and the information provided to us.