Services

Services

Price and Service Information

At My Personal Finance Director we pride ourselves on being trusted professional advisers. We always aim to ensure people have accurate and relevant information about us when they are considering using our probate services.

We are required to publish information on our website relating to pricing in relation to our probate services. We always meet with potential consumers to discuss your specific case to develop a tailored price estimate in a free, no obligation consultation. We invoice on a time taken basis and never take a % fee based on the value of the estate. As our fee indications are bespoke, we have set out three scenarios below to give you an indication of the range of our likely fees. 

The exact cost will of course depend on the individual circumstances of the matter.  For example, if there is one beneficiary and no property, costs will be at the lower end of the range. If there are multiple beneficiaries, a property and multiple bank accounts &/or investments, costs will be at the higher end.

Our Scenario pricing is based on estates where;

  • There is a valid Will
  • The Will is uncontested (not disputed by any beneficiary or third party to the Will)
  • All assets are within the UK (except scenario 3)
  • There is no more than one property (except Scenario 3)
  • There are no more than 4 bank/building society/investment accounts
  • There are no intangible assets
  • There are 1-4 beneficiaries
  • There are no disputes between beneficiaries on division of assets. If disputes arise this is likely to lead to an increase in costs. As a reminder we can only act on non-contentious Probate cases
  • There is no Inheritance Tax (IHT) payable and the executors do not need to submit a full account to HMRC (Scenario 1 only)
  • There are no claims against the Estate. As a reminder we can only act on non-contentious Probate cases
  • Where IHT is payable we will treat the work as a more complex estate (Scenarios 2 & 3)

We also offer to support consumers who wish to arrange all their probate services for themselves but wish to have our support on the end of the phone and to review forms as required. This will be billed on a per hour basis, the work principally undertaken by the Manager or Director.

Obtaining a grant of probate (easily identifiable low value assets).

We are dealing with a new client whose mother has recently died.

Her mother was a widow, so the last surviving parent.

There is a valid, non-contested will.

The daughter, our client, has been named as the sole executor in the will.

The total value of the estate is £200,000 and consists mainly of bank accounts.

There are no complicating factors.

We will need to help our client to obtain a grant of probate, but we have not been asked to administer the estate.

Total fees between £720 to £1,200 (including VAT)

Calculating Inheritance Tax and obtaining a grant of probate (high value assets, easily identifiable, simple will).

We are dealing with a new client whose mother has recently died.

Her mother was a widow, so the last surviving parent.

There is a valid, non-contested will.

The daughter, our client, has been named as the sole executor in the will.

There may be one or few beneficiaries.

Valuations have been reasonably easy to obtain and there were no complicating factors.

We will need to help our client to obtain a grant of probate and prepare the relevant Inheritance Tax forms (IHT400), but we have not been asked to administer the estate, but the consumer may need some assistance with the administration of the estate.

Total fees between £1,680 and £3,360 (including VAT)

Full administration of estate including obtaining a grant of probate (complex).

We are dealing with a new client whose father has recently died.

His father was a widower, so the last surviving parent.

The deceased also inherited the entire estate of their spouse.

There is a valid and non contested will.

The son, our client, has been named joint executor in the will with his sibling.

The total value of the previously inherited estate is £370,000 and the value of the estate in question is £350,000. The combined total takes the value of the estate over the IHT threshold.

The estate includes cash, residential property, a property abroad and a private pension scheme.

We will need to help our client to obtain a grant of probate and administer the estate.

Total fees between £4,800 and £9,600 (including VAT)

Disbursements
Disbursements will vary from case to case; listed below are the most common disbursements incurred in a probate matter.

Probate Application Fees are £273. There is a small additional charge for extra copies of the Grant of Probate.

Bankruptcy search – £5 per beneficiary 

Notification in The London Gazette and a local newspaper of the individuals death to protect against claims from unknown creditors – £300.

Potential additional costs
If there is no Will or the estate consists of more than a few properties and/or several private share holdings (stocks and bonds) (including investment funds), and/or a private pension scheme there is likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with.  We can give you a more accurate quote once we have more information.

Costs of dealing with the sale or transfer of any property in the estate is not included in the specimen quote range quotes nor costs of putting assets into trust for example where beneficiaries are under 18.

Additional services available include preparation of tax returns for the deceased, resolving any historical issues in the tax affairs of the deceased and any accounts preparation work and tax calculations/returns required to be completed for a business of the deceased. This work will be quoted separately and on a fixed price basis.

Hourly Rates
Director £200 (excluding VAT)

Manager £110 (excluding VAT)

Senior £75 (excluding VAT)

Administrator/Junior £50 (excluding VAT)

Most of the work is undertaken by Senior and Junior members of staff under the supervision of a Manager and the control of a Director. Consumer contact is usually by the Manager or Director.

Scope of services

 Scenario 1Scenario 2Scenario 3
Review all paperwork (including the death certificate and original will (if applicable)
Obtain values of the estate, assets and liabilities
Calculation of gross and net values of estate
Calculation of inheritance tax due
Arranging payment of IHT
Prepare Statement of Truth
Apply to Probate Registry for the Grant of Representation
Receive Grant of Probate
Place statutory notices in local newspaper & Gazette
Help pay all known debts and liabilities of estate
Help pay legacies
Finalise estate tax
Help distribute the residuary estate
Estate accounts preparation

Timescales

On average, cases involving estates administration are dealt with within 8 – 12 months. Typically, obtaining the grant of probate and handling tax returns takes 3 – 6 months.  Collecting in assets (including sorting out all tax matters) then follows, which can take between a further 3 – 6 months.  Once this has been done, assets can be distributed, which normally takes 4 weeks once the Estate Accounts have been approved by the Executors of the estate and all identifications and clear bankruptcy searches on the beneficiaries of the estate are obtained.

Accordion Content

Licensed by the Institute of Chartered Accountants in England and Wales to carry out the reserved legal activity of non-contentious probate in England and Wales. 

Details of our probate accreditation can be viewed at icaew.com/probate under reference number C00889034. 

The results of our diversity survey will be able to be viewed when required to be first published in 2023.

In the unlikely event that we cannot meet our liabilities to you, you may be able to seek a grant from ICAEW’s Compensation Scheme. Generally, applications for a grant must be made to ICAEW within 12 months of the time you become aware, or reasonably ought to have been aware of the loss. Further information about the scheme, and the circumstances in which grants may be made, is available on ICAEW’s website: www.icaew.com/probate

QBE UK Limited, Plantation Place, 30 Fenchurch Street, London, EC3M 3BD

Policy Number 00025786PIC

Level of indemnity is £1,000,000 per claim.

The territorial coverage is restricted to the UK and excludes any action for claims brought in the US or Canada.

We look to provide clients with a high level of service but should you feel that we have not delivered on this, please let us know by contacting the probate contact partner Jan Szczepanski. We will consider carefully any complaint that you may make about our probate services as soon as we receive it and will look to resolve the issue. We will acknowledge your complaint within five business days of its receipt and endeavour to deal with it within 8 weeks. Any complaint should be submitted to us in writing. 

If we do not deal with it within this timescale or you are unhappy with our response you may of course take the matter up with our professional body, ICAEW, and the Legal Ombudsman. Complaints to the Legal Ombudsman should be made within six years of the act or omission or within three years of you becoming aware of the issue, and in either case within six months of our written response to your complaint to us. 

The contact details for the Legal Ombudsman are: Letter: Legal Ombudsman, PO Box 6806, Wolverhampton, WV1 9WJ Email: enquiries@legalombudsman.org.uk Telephone: 0300 555 0333.