Vincent Oakley: Probate and Administration

Fees for a Straightforward Case (explained below):

In every case our fee consists of a Start Up fee of £1,500 plus VAT (this may be reduced in very simple cases) plus 2.5% of the gross value of the estate up to £1 million. VAT must be added to our fees at the prevailing rate (currently 20%)

The following payments to third parties 'disbursements' must normally be added:

Probate Court fee for grant and copies. Currently £160 (£155 for grant plus 50 pence for each official copy). However a new scale of Probate Court fees will be introduced by the government soon. The proposed goverment fees are:

Value of Gross Estate  
Under £50,000 £0
£50,000 - £300,000 £250
£300,000 - £500,000 £750
£500,000 - £1,000,000 £2,500
£1,000,000 - £1,600,000 £4,000
£1,600,000 - £2,000,000 £5,000
Over £2,000,000 £6,000

For each executor a fee of £5 + £2 for each document referred to (eg the Will)

Bankruptcy searches £1 for each beneficiary payable immediately prior to any interim or final distribution to that beneficiary

London Gazette Notice under the Trustee Act 1925 (we recommend that you budget for £100 plus VAT)

Newspaper Notice under the Trustee Act 1925 (we recommend that you budget for £100 plus VAT for each notice) typically one newspaper notice will be required.

Straightforward Case Notes:

The fees for a straightforward case are on the basis that the case is dealt with by the IHT205 and not the more complex IHT400 Inheritance Tax form.

Our fees above do not usually include the following. If any of the work below is necessary additional fees will be payable.

Dealing with deeds of variation or deeds associated with any trusts included in the Will or intestacy

Advising on interests the deceased may have had under any existing Trust

Any conveyancing costs for selling property included within the estate or investigating the title to any land in the estate.

Considering any third party claims that may be made against the estate.

Fees for valuation of any assets included within the estate. For example: estate agents fees for valuation of land or houses; valuations of personal and household goods; valuations of any jewellery; valuations or paintings, artwork or any other type of collection; valuation of literary works; valuation of shareholdings.

Any work relating to foreign property, agricultural or business property

Dealing with any stocks or shares

Dealing with more than three bank/building society accounts

The personal tax return (Income Tax, Capital Gains Tax etc.) of the deceased for the period from the end of the tax year to the date of death, and during the administration of the estate.

The sale of or transfer of title to any property contained within the estate to a beneficiary.

Dealing with any query raised by the Department of Work and Pensions in relation to any investigation of benefits paid during the deceased's lifetime or any claim for a refund.

Advising or assisting in connection with any claim made under the Inheritance (Provision for Family and Dependants) Act 1975 or any similar legislation.

Advising or assisting in connection with any claim for NHS Continuing Healthcare or local authority social care funding that the deceased may have been entitled to during lifetime.

 


Vincent Oakley, Solicitor
53 Newbridge Crescent
Newbridge, Wolverhampton
WV6 0LH

Telephone 01902 743333

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