Most people who apply for Probate have never done so before, and as such it is hard to know whether a price quoted by a legal provider is fair and reasonable, and whether they can expect any other charges further down the road. Here we set out the basics of Probate fees.
Firstly, for a basic Grant of Probate or Letters of Administration application, there are three core elements:
- The fee for the work undertaken
- The Probate Court application fee
When obtaining quotes it is vital to ensure that you are comparing like for like, therefore it is best to ask for a fully inclusive fee.
If your chosen solicitor charges on an hourly rate, you also need to be aware that each phone call, email or other communication may also be charged at their hourly rate to read and respond to. For this reason we recommend people to get quotes for a ‘fixed fee’ service, so they know the price will not go up from the initial quote.
Variances for type of application
If there is no inheritance tax to pay, the likelihood is that you will only need the standard application. However, where there are certain complexities to the Estate, or if inheritance tax is due on the Estate, then more complex forms are required to be submitted and as such the fee will likely be higher. At Affinion we diagnose what type of Probate application you require and then provide a fixed fee quote for that service.
Any other variances
Because there can be complexities with certain Estates, other fees can be due. For example, if the title of a property needs to be transferred into the beneficiary’s name, or if an Executor wishes to renounce their role.
What is a good price to pay for Probate?
According to the Money Advice Service “Some probate specialists and solicitors charge an hourly rate while others charge a fee that is a percentage of the value of the estate. This fee is usually calculated as between 1% to 5% of the value of the estate, plus VAT” (Ref 1).
So, on an Estate value of £200,000, with a fee of 1%, that’s £2,000 for Probate. Or based on an hourly rate of £200+VAT, that’s £960 for 4 hours of work.
At Affinion Probate we provide fixed fees that include the Court application fee and VAT. Our fees are typically half of what you would pay at a high street solicitor.
Some of our customers wonder how we can do this for such a low fee. The answer is simple – we use a two step process. Firstly, one of our expert advisors ascertains your Probate need. They then liaise with you to collect all the relevant information and documents, before collating this in a format designed to make the solicitor’s work as efficient as possible. Once this is passed to the solicitor, step two begins. They check the information, prepare all the relevant documentation and submissions, and speak with the customer to talk them through and keep them abreast of the process and progress against it. In essence, having the solicitor only focused on the legal work, and not the preparation element, enables us to guarantee such a low fee.
When obtaining quotes for Probate, make sure you get a fixed fee quote that is inclusive the Court application fee and VAT. Shop around to ensure you know you’re getting the best price. At Affinion however we guarantee that we will not be beaten on price, so naturally, don’t forget to phone Affinion probate.