Private Client Costs

Lasting Powers of Attorney

Our Costs

We charge £300.00 plus VAT of £60.00 being a total of £360.00 to register an EPA, £325.00 plus VAT of £65.00 being a total of £390.00 to register an LPA and £1,500.00 plus VAT of £300.00 being a total of £1,800.00 to make a single Deputyship application. Court fees will be incurred in addition to our fees. At present the fee for registration of an EPA is £92, registration of an LPA £92, and application for Deputyship £385. These costs and fees are per application.

Probate

Our costs

Our costs may vary depending on the size and complexity of dealing with a particular Estate. Our minimum charge for a simple estate is £3,500 + VAT & disbursements, should an IHT form be required for the Estate the minimum charge will be £4,000 + VAT & disbursements. We will set our cost rate by agreement with the Personal Representative at the outset of the matter. The fixed fee we will quote you at the outset of the matter will take into account factors including nature of assets (land/bank accounts/shares etc); the amount of different assets; foreign assets; the requirement for Inheritance Tax Returns; number of beneficiaries etc (not an exhaustive list) as these are all matters that we undertake on your behalf. To assist you in budgeting and understanding our fees, our fixed fees for a full Probate Service (quoted on a case-by-case basis) will typically be:

Full Probate Service (notifying institutions, obtaining valuations, completion of Inheritance Tax forms and Probate Application, collecting assets, discharging liabilities and distributing the net estate)

Minimum Charge – £3,500 + VAT @ 20% (£4,200) plus disbursements (see below), with IHT form £4,000 + VAT @ 20% (£4,800) plus disbursements (see below)

Where the Firm is NOT the Executor – typically 1.5% of the gross value of the Estate + VAT @ 20% and disbursements (for example a £500,000 estate would be £7,500+VAT (£9,000) plus disbursements)

Where the Firm IS the Executor – typically 1.75% of the gross value of the Estate + VAT @ 20% and disbursements (for example a £500,000 estate would be £8,750 + VAT (£10,500) plus disbursements)

Probate only Service (when we limit our service to simply completing the Probate Application) £1,500+ VAT @ 20% (£1,800) plus disbursements If an IHT form is required for the Probate only Service we will charge an additional £400 + VAT @ 20% (£480) to the standard fee.

Disbursements

These are expenses that we pay on your behalf but do not form part of our fees. Disbursements, as they are not our fees, do not attract VAT. You will however find them deducted from monies we hold during the Probate process. Typical Probate Disbursements include Probate Court Fee: £300 (plus court sealed copies of the Grant of Representation @£1.50 per copy). Certainty Will Search (optional): £126 and £58.50 to check if there is a Will Trustee Act Notices in newspapers (optional): £250 (estimated) Bankruptcy Searches: £6per beneficiary Land Registry Fees – dependant on nature of transaction and value of Property

What is not included?

The above fee scales are guidance in relation to the administration of the estate. Where extra costs are likely to be incurred, we would always advise you before they can become payable. You would have the opportunity to discuss with your Lawyer first. Typical examples of Legal work that are not included in the above quotes are: Electronic Transfers of large sums of money (typically £25+VAT @20% plus the Bank Fee of £17 (no VAT) totalling £47 per transfer) Acting for you defending a Claim brought against the Estate – this is separate legal work to be provided by a Litigator Varying the Will – this would be charged as a separate fee (typically £450+VAT @20%= £540) Conveyancing Services for the Sale of any Property in the estate (see our Conveyancing page for fee scales).

Wills and Tax Planning

The cost of making a will with us

We believe that we can offer you a service which is value for money. We charge £350 + VAT @ 20% (£420) for a single Will and £600.00 +VAT @20% (£720) for mirror image Wills (for example, Husband and Wife, Partner or Civil Partner). If you require detailed Inheritance Tax advice, or trust drafting, we may charge you in addition for such advice. It is our practice to let you know the cost of our advice at our initial meeting and to confirm the same in writing.

Inheritance Tax

Please see provisions to reduce Inheritance Tax above for some basic details on how you may give consideration to Inheritance Tax when drafting your Will. Your Personal Representatives (Executors or next of kin) are responsible for finding out if Inheritance Tax is due as a result of a person’s death, and personally responsible to make sure that it is paid. Whether Inheritance Tax needs to be paid can depend on (amongst other factors):

• How much the property and belongings of the Deceased were worth when they died
• The value of any gifts that they gave before they died, when the gifts were made, and to whom they gave these gifts
• The value of certain trusts from which the Deceased benefited
• Which people benefit under the Will or under the rules of intestacy (the Beneficiaries)
• We would like to use our expertise and experience to help you deal with the above. In some cases, simple adjustments to how an Estate is administered can result in significant savings which can run into thousands of pounds.

Our Costs

Our costs may vary depending on the nature of the work undertaken. Basic Tax Planning and Advice would be included in the costs above for Will drafting. If your Tax Planning needs are more complex then further costs would be incurred, usually at an hourly rate. We would let you know our likely costs at our initial meeting and confirm the same in writing. There may also be additional fixed charges that we have to make if your instructions require us to undertake additional services. These additional fixed charges will be discussed with you before undertaking the work.  The table below details some of those additional fixed charges: