Fixed fee probate

Why fixed fee probate?

At Requiem Law we don’t believe that charging on an ongoing time-basis (using ‘estimates’) is very helpful for the recently bereaved, and we certainly don’t charge more just because the estate is worth more. Many of our competitors will typically include a ‘value-based’ element as part of the fees, calculated by reference to the value of the house and other assets (often 1%).

We understand that personal representatives (PRs) want certainty and that’s why we only offer fixed-fee probate. We’ll calculate our fees based on how complex the estate will be to administer, nothing else.

In practice, we will do this when we have met with you and we have all the facts to hand. We will provide a fixed-fee quote for just Stage 1 (this is up to and including obtaining the grant) or both Stages, depending on your needs.

For more information on Stages 1 and 2, see our probate page.

Most of our clients choose to instruct us to carry out both stages on their behalf, but it is up to you. You can even wait until the grant has been received (after Stage 1), to decide. If you choose that you want to complete the administration yourselves, that’s fine – all we ask is that you settle your account with us once the grant has been received.

So how much do we charge?

Where the circumstances are suitable, it may be appropriate to offer a ‘grant only’ service. This is where we obtain the grant (Stage 1) based on the information you have provided to us. We will not verify any of the information provided or make other enquiries.

Our fees for a ‘grant only’ service start from £750 plus VAT.

For a full service, every estate is different and so it is only possible to give an illustration of our pricing approach. The following are some of the factors that we use to establish the complexity of an estate:

The number of PRs and beneficiaries
The number and diversity of bank accounts and other financial assets
The ownership of the home or other land and buildings
Whether there is a valid Will
Were there any lifetime gifts within seven years?
Are there any trusts, business assets or foreign assets?
Is there tax to pay?
The number of legacies in the Will
Is there a charity benefitting?

Let’s look at some typical scenarios:

Example 1 – simple

One or two executors
A couple of bank accounts
Property passing to surviving spouse or civil partner
No IHT400 required
A small number of beneficiaries

A fixed-fee probate quote for this would be in the region of £1,800 to £3,500 plus VAT.

Example 2 – standard

Three or four executors
A few bank accounts and other financial assets
A couple of properties
IHT400 required
Several beneficiaries

A fixed-fee probate quote for this would be in the region of £3,500 to £6,500 plus VAT.

Example 3 – complex

Three or four executors
Multiple assets
Lifetime gifts
Property passing to trust
Inheritance tax to pay
Many beneficiaries, including charities

A fixed-fee probate quote for this would be in the region of £6,500 plus VAT upwards.

These examples are very generic and no two estates will ever be identical. However, we will endeavour to provide a fixed-fee probate quote in all estates. This quote will not change unless the facts change once the work has commenced.

All meetings will take place in the comfort of your own home – we typically serve the Thames Valley and surrounding areas (Henley, Twyford, Crowthorne, Finchampstead, Reading). However, if you would prefer to meet remotely (or you live a little further away from Wokingham) we are happy to do that too.

For a no obligation meeting, call Richard on 0118 40 50 307 or email him at richard@requiemlaw.co.uk. Alternatively, fill out our contact form and Richard will be in touch as soon as he can.