Hague & Dixon LLP will endeavour to charge a fee, which fairly reflects your transaction. This fee will be based upon our hourly rate and will reflect the individual circumstances of each particular case. Hague & Dixon LLP tailor the costs estimate to the individual demands of your transaction, placing you at the heart of all information supplied.
Hague & Dixon LLP charge an hourly rate for work done. These hourly rates form the basis of our charges on which we will calculate any estimate given at the outset.
Please note that VAT as at 6 December 2018 is charged at 20%.
Our current hourly rates are;
- £275 + VAT for Directors and Consultants
- £250 + VAT for Assistant Solicitors and Legal Executives
- £200 + VAT for other executive staff
To enable you to make an informed decision about who you would want to assist with your transaction, please visit our `meet the team` page for details as to the individual experience and qualifications of each member of our team.
Indicative Costs of Hague & Dixon LLP
We appreciate that before you make contact with Hague & Dixon LLP you may appreciate an idea about our indicative costs for the administration of an estate transaction in the UK, which is straightforward and without complexity. As a result, our indicative charges for the following work would be:
•Obtaining the Grant of Probate only (with the named executor rather than Hague & Dixon LLP dealing with the administration of the estate): 10 – 20 hours of time spent at the hourly rate outlined above for the individual dealing with your matter.
•Obtaining the Grant of Probate and dealing with the administration of the estate on your behalf: 15 – 30 hours of time spent at the hourly rate outlined above for the induvial dealing with your matter.
The above indicative costs are given for illustrative purposes only and are intended to provide you with a general indication of costs only. Please contact Hague & Dixon LLP to obtain a specific cost estimate for your individual instruction.
Costs: Called Disbursements
As well as fees payable to Hague & Dixon LLP for the legal advice involved in an administration of an estate, you will also need to budget for Disbursements.
Disbursements are expenses which we have to pay to others as part of your instruction. The actual disbursements payable will depend upon your individual transaction, but typical estimated disbursements may include:
- Probate application fee: £155.00
- Extra copies of the Probate document are: 50p each (we recommend getting several for the different organisation who will need to be contacted)
- Swearing of the oath fee: typically £7.00 per executor
- Statutory advertisements: £275 – £300 + VAT
- In addition you need to be aware that following an individual’s death, tax may be payable to HMRC. If any tax is payable this will be an additional cost to the information outlined above and
- would need to be met by the estate.
WHAT MAY EFFECT THE COSTS ESTIMATE GIVEN?
The exact costs will depend upon the individual circumstances of the matter.
However, to assist you in assessing whether your matter is likely to be more straightforward and therefore at the lower end of the range of costs given above, a straight forward estate would ordinarily involve;
- a valid will
- a single property
- a small number of bank or building society accounts
- no other assets of investments
- a small number of beneficiaries
- no disputes between the beneficiaries about the division of assets
- there is no inheritance tax payable and therefore no need to submit a full account to HMRC
- there are no claims made against the estate
A more complex estate, which would therefore fall to the higher end of the range of costs given above would ordinarily involve factors such as:
- the absence of valid will
- multiple properties in the estate
- more extensive investments, to include life policies
- a larger number of beneficiaries
- Beneficiaries who may be in dispute about the distribution of the estate
- a full inheritance tax account to HMRC
- foreign property
KEY STAGES IN THE ADMINISTRATION OF ESTATE PROCESS
- Identify the legally appointed executors or administrators and beneficiaries
- Identify the type of Probate application you will require
- Obtain the relevant documents required to make the application
- Complete the Probate application and relevant HMRC forms
- Draft a legal oath for you to swear
- Make the application to the Probate Registry on your behalf
- Obtain the Probate and provide you with a copy
- Collect and distribute all assets in the estate
IS THERE ANYTHING WHICH HAGUE & DIXON LLP DO NOT INCLUDE IN THE COST ESTIMATE GIVEN FOR THE ADMINISTRATION OF THE ESTATE?
Hague & Dixon LLP do not include within the average cost above, dealing with the sale or transfer of a property which was owned by the deceased. If there is a property forming part of the estate with which Hague & Dixon LLP would be happy to deal then a separate cost estimate would be given in line with the conveyancing costs information page.
Hague & Dixon LLP would assist with the preparation of the IHT (Inheritance Tax) return but would not give specific tax advice, such advice would need to be sourced from an appropriately qualified third party e.g. a Chartered Accountant.
HOW LONG WILL THE ADMINISTRATION OF THE ESTATE TAKE?
Hague & Dixon LLP appreciate that when a loved one dies, the smooth administration of an estate benefits all concerned and we seek to remove any unnecessary worry for you. We are therefore aware that efficiency at this time is essential.
By way of an estimated timescale for a straightforward estate, obtaining the grant of probate usually takes 2-4 months. It is then necessary to collect in all assets, which usually takes a month. The final step is to prepare the estate accounts and distribute the assets, which normally takes another month. A straight forward estate can therefore take between 3 – 7 months to conclude.
Please note that the timescales given do depend entirely on the complexity of the estate and the particular issues involved in your instruction.