Pricing – Probate
What Is Included In Our Pricing?
- Having received your signed Terms of Business and Deposit, MT UK can begin your matter.
- Determining Assets.
- Obtaining valuation for property and its contents.
- Determining who is entitled, in the situation of intestate, to be the Personal Representative of the Estate.
- Determining who are,in the situation of intestate, the beneficiaries of the intestate by reference to intestacy law.
- Informing all concerned with whom the deceased had assets.
- Save for a few exceptions, a petition for Grant of Probate is settled and filed with the appropriate Court.
- Notification is served to any individual who may be legally entitled to receive property under the intestacy rules.
- Notified individuals may file a formal objection to the Grant of Probate.
- Preparing the Oath and submitting the Probate Application then preparing a final estate account.
- The matter usually proceeds to a hearing and any further preparation for the hearing will be discussed accordingly.
- Distributing the assets.
Fixed fee; estimate based on the work involved.
MT UK hourly rates
Directors – £375.00 + VAT (20%)
Solicitors – £340.00 + VAT (20%)
Trainee Solicitors – £250.00 + VAT (20%)
Paralegals – £190.00 + VAT (20%)
On average probate work can spread from 10 hours – 25 hours of work.
The exact number of hours depend on the circumstances including complexity of the case. Costs are likely to be at the lower end range if the case is straightforward.
Costs can be, on average, between £3,500.00 (Plus VAT) to £9,000.00 (Plus VAT).
In certain circumstances, there can be plus value element being between 0.75% of property value and 1% of liquid value in line with the Law Society Guidelines.
The above quotes do not include:
- Any court fee; find updated list of court fees
- Swearing of Oath fees of £5.00 – £10.00 per executor
- Law Society Gazette Wills and Whereabouts advertisements charges of £300.00 – £500.00 (Plus VAT)
- London Gazette advertisement to protect against creditors £150.00 (Plus VAT)
MT UK will indicate at the earliest opportunity and before any such fees are incurred to yourself, if any of these are applicable.
- On average, estates are likely to be dealt between 3 months to 18 months from initial instructions.
- Obtaining Letter of Administration is likely to take 6 – 25 weeks from initial instructions.
- Collecting Assets can take between 6 to 15 weeks from obtaining the Grant of Probate.
- Distribution of the assets is likely to take 2 to 4 weeks from collecting assets.
It is worth noting that the anticipated number of hours and fees are an estimate based as analysed above. Of course, MT UK can provide you much more accurate estimate once more information about your specific case is in hand.
THE BITTERNESS OF POOR QUALITY REMAINS AFTER THE SWEETNESS OF LOW PRICE IS FORGOTTEN!