Do you have a Lasting Power of Attorney in place? The Mental Capacity Act 2005 introduced Lasting Powers of Attorney which replaced Enduring Powers of Attorney. A Lasting Power of Attorney (LPA) is a legal document where a person appoints...
Our specialist private client services are tailored to your particular personal requirements. We pride ourselves on delivering exceptional client service at competitive prices and we also aim to be completely transparent with our costs and have set them out below:-
What do our fees cover?
The scope of our work will not include:-
Single Will - £300 plus VAT (total £360)
Mirror Wills - £450 plus VAT (total £540)
Factors affecting our fee quote:
Once we have taken your full instructions and drafted your will, then any additional instructions or amendments requested (unless minor) will incur further drafting time and therefore additional costs. We will advise you of any additional costs prior to undertaking the work and we will not proceed until you have authorised us to do so.
If having discussed your requirements with you, your will will more more complex that the standard wills above, we will give you a quote for a more complex will structure within the first meeting with you prior to undertaking the work and we will not proceed until you have authorised us to do so.
Additional fees and disbursements:-
- An additional charge of £100 plus VAT will be made if your Will or Codicil includes a life interest trust or discretionary trust.
- Home visit. The cost of a visit to your home is £25 plus VAT per visit.
- Registration of your Will on the online register of Wills www.certainty.co.uk is £20 including VAT per Will.
LASTING POWER OF ATTORNEY
What our fees cover:-
Our costs relate to the preparation and registration of Lasting Power of Attorney.
The scope of our work will not include:-
Single Lasting Power of Attorney - £550 plus VAT (total £660)
Two Lasting Power of Attorney - £800 plus VAT (total £960)
Four Lasting Power of Attorney - £1250 plus VAT (total £1500) This charge is based on mirror Lasting Power of Attorney.
APPLYING FOR GRANT OF PROBATE, COLLECTING AND DISTRIBUTING THE ASSETS
We anticipate this will take between 10 and 20 hours work at the hourly rate of the appropriate fee-earner. The total costs are estimated at £2500 to £5000. The exact cost will 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, costs will be at the higher end.
We will handle the full process for you. The estimate is for estates where:-
- There is a valid will.
- There is no more than one property and it sells within a reasonable period of time.
- The income tax affairs of the deceased are up to date.
- There are no foreign assets.
- There is no more than 2 bank or building society accounts.
- There are no intangible assets.
- There are no more than 4 beneficiaries (all of whom are identified and contactable).
- There are no disputes between beneficiaries on division of assets. If disputes arise, this is likely to lead to an increase in costs.
- There is no inheritance tax payable and the executors do not need to submit a full account to HMRC.
- There is no claim made against the estate.
Disbursements are the costs of third parties that we incur on your behalf. We handle the payment of the disbursements on our behalf to ensure a smoother process. These will be recharged to you. We set out an indication of the disbursement costs we anticipate:-
Probate application fee - £155 (No VAT)
Swearing of the Oath (per executor) (up to 1 codicil) - £5 to £9 (No VAT)
Bankruptcy only Land Charges Department Search (per search) - £1 (No VAT)
Statutory Notices – Protects against unexpected claims from unknown creditors in the region of £200 plus VAT
Potential additional costs
If there is no will or the estate consists of any share holdings (stocks and bonds) there is likely to be additional costs that could range significantly depending on the estate and how it is dealt with. We can give you a more accurate quote once we have more information.
If any additional copies of the grant are required, they will cost 50p each.
Dealing with the sale or transfer of any property in the estate is not included.
On average estates that fall within this range are dealt with within 12 months. Typically, obtaining a grant of probate takes 6 to15 weeks. Collecting assets then follows, which can take between 3 – 6 months. Once this has been done, we can distribute the assets, which normally takes 4 – 8 weeks.