Fixed Fee Probate Charges
Many solicitors charge an hourly rate for Probate services and many also charge a further percentage based on the value of the estate. Bank probate fees often exceed 4% of the estates value. Hourly rates leave executors unsure how much they will be paying at the end of the process. Even with banks charging on a percentage basis only can mean that estates with only one, valuable asset – such as the family property– can pay more than estates with lots of different assets which total less in value.
Estates vary in size and complexity. Whilst some executors are familiar with the process, many are carrying it out for the first time. This is often during a confusing and upsetting period where the last thing you are thinking about is challenging the costs of dealing with a loved ones estate.
Few solicitors provide a fixed fee quotation which means you don’t know the final cost of their work until the bill arrives. We think this is unfair so at the outset of a matter we take details of the estate so that we can provide a fixed fee written quote that is guaranteed not to increase unless the details of the estate change. What’s more, if the estate has only one major asset – such as a house – we will make an agreed reduction of our charges with you to take this into account. This means you have no hourly rates to worry about and you know what you will be paying right from the beginning of your case.
We can help you with every aspect of administering the estate to save you time, money and worry during a difficult period. Our service includes all necessary correspondence to banks and building societies as well as the probate registry and Revenue and Customs. At the end of the administration we provide full estate accounts showing exactly what assets made up the estate and who inherits them. Everything is done for you so there is nothing for you to worry about.
If you decide to instruct us our costs will be taken from the Estate.
Our fees are typically a quarter lower than other local solicitors and more than half the price of banks. Compare the figures for yourself.
VALUE OF ESTATE £75,000 £180,000 £450,000
Typical Bank fee £3,000 £7,200 £18,000
Typical Solicitors fee £1,500 £3,600 £9,000
OUR QUOTE £1,312 £3,150 £6,750
As you can see the financial benefits are significant. Not only can we save you money but we also pride ourselves on offering a friendly and professional approach and as you would expect, all work is carried out for you by specialist solicitors.