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Probate - pricing information
We charge for work in relation to obtaining a Grant of Probate and assisting in the administration of an estate on the basis of time spent. Many firms charge a fee related to the value of an estate in addition to a time cost. This is permitted by the Solicitors’ Regulation Authority but we at Goodman Derrick do not believe that it represents a fair way of charging because it does not reflect the amount of work involved.
Our hourly charging rates vary according to the level of experience of our lawyers. Within our team we have over 100 years’ cumulative experience of delivering a high quality service in all matters relating to Wills, Estate Planning and Estate administration. The team has particular expertise in high value estates and in inheritance tax matters. One member of our team will conduct most of the work on your matter, but we will involve other members where appropriate and in order that work is carried out at the right level. Whoever works on your matter, they will be supervised by one of our partners, either Ian Bradshaw or Clare Jeffries.
We pride ourselves on providing an efficient service with sensitivity to your particular circumstances. At a difficult time, we want to assist in making you feel supported. We will assist you to whatever extent you wish, you do not need to hand over the entire administration of an estate to us. Communication is key in making sure that no aspect is overlooked. We are happy to liaise with your other advisers, such as accountants and financial planners as appropriate.
Our hourly charging rates are as follows, excluding VAT:
Ian Bradshaw - £395
Diana Rawstron - £395
Stephanie Brobbey - £350
Lilly Whale - £240
We will generally render our first account when application for Grant of Probate is made. Thereafter if we are assisting in the administration of the estate, we will render an account at regular intervals, generally monthly, to be agreed with you. Work after receipt of the Grant of Probate generally includes settling debts, paying legacies, collecting and distributing assets, finalising inheritance tax and income tax matters and obtaining clearance from HMRC, along with preparation of Estate Accounts.
You will appreciate that it is very difficult to estimate a likely fee before we know anything about the nature and complexity of a particular estate. However, as a rough guideline, fees up to the point of obtaining a Grant of Probate are likely to be between £3,000 - £6,000 plus VAT for an exempt estate and £5,000 - £10,000 plus VAT where inheritance tax is relevant.
If you would like to consider instructing us in other matters such as the preparation of Wills, Lasting Powers of Attorney or inheritance tax planning, we will gladly discuss this with you and provide you with an estimate of our fees.