When to use a probate solicitor or specialist

Money Advice Service

Using a probate specialist or lawyer might seem like a good idea, but the cost of probate can be high. This article looks at how much accountants and solicitors charge for probate, when you should consider using a specialist and how to find one.

Should I use a probate specialist?

There are some situations when you might need an expert (see below), but it is common for a relative or friend to take on the job of executor to get probate themselves.

Many find that it’s easier than they expected and end up saving thousands of pounds.

Learn more about getting probate for yourself in Sorting out the estate when there is a will.

When do I need a probate specialist?

A probate specialist is someone whose speciality is dealing with probate.

They might be solicitors, or accountants and you can be sure they will charge a fee.

You might want to think about using a probate specialist if:

  • The value of the estate is over the Inheritance Tax threshold and the estate is still earning a regular income where there are complicated taxes due. The threshold for the 2016-17 tax year is £325,000.
  • The deceased died without a will, and it’s a complicated estate to administer.
  • There are doubts about the validity of the will.
  • The deceased had dependents who were deliberately left out of the will, but who might want to make a claim on the estate.
  • The estate has complex arrangements, such as assets held in a trust.
  • The estate is bankrupt (also known as insolvent).
  • There are doubts that the estate is bankrupt.
  • The estate includes foreign property or foreign assets.
  • The deceased resided outside the UK for tax purposes.

How much do probate services cost?

Some probate specialists and solicitors charge an hourly rate while others charge a fee that is a percentage of the value of the estate.

This fee is usually calculated as between 1% to 5% of the value of the estate, plus VAT.

The table below is an example of how much you could end up paying for their service.

This total doesn’t include court or application fees, so the final bill is probably higher.

Value of estate Fees VAT Total payable
£100,000 £1,000 (1% of estate value) £200 £1,200
£100,000 £5,000 (5% of estate value) £1,000 £6,000

Some probate specialists charge both an hourly rate and a percentage fee. But this doesn’t always mean they’re more expensive.

There are also a few probate specialist companies who charge a fixed fee for their services.

They base it on an estimate of the volume of work involved. These companies claim to be cheaper than a traditional solicitor or accountant.

Most banks also offer probate and estate administration services. However, these services are often more expensive than using a solicitor or a specialist company.

You can get more information on probate specialists’ fees on the Which? website.

Finding a probate solicitor or specialist

Remember to compare quotes when you shop around for a probate specialist. You could even use these competing quotes to negotiate for a cheaper fee with your preferred specialist.

If you decide to use a probate specialist, it’s can be easier to use the solicitor that drew up the will or stored it.

But you don’t have to use them – you’re well within your rights to shop around for another solicitor or specialist accountant.

Directories of probate specialists

Use the links below to find a probate accountant or a solicitor:

Things to watch out for

Below is a list of things to consider or watch out for when dealing with a probate specialist.

1. Rough estimate versus final bill

Many probate specialists are reluctant to give you a ‘binding’ estimate of their fees, giving you a ‘ballpark figure’ instead.

If they give a ballpark figure, you should expect revisions to this figure as the work progresses.

Consequently, you might want to prepare for a higher bill than initially estimated.

More firms now, before they accept the work, ask you to complete a detailed fact-finding questionnaire.

This allows them to get a more accurate picture of the work involved and quote a fee accordingly.

As a result, the final bill is less likely to differ from their quote by very much.

2. Third party costs (disbursement costs) and service extras

There are some fees – known as disbursement costs – that you will have to pay as part of getting probate.

For example, the probate application fee or getting certified copies of certain documents.

With some estates, it is sometimes necessary to sell off assets, such as property, when administering the estate.

As such, there are usually valuation and conveyancing fees which are additional to the quote you receive.

Remember to ask how much the disbursement fees are, and also for a clear rate for these additional services.

3. Payment in stages and VAT

As the work progresses, many probate specialists expect payment at certain stages.

Some of these payments are for their services up to that stage, while others are for disbursement fees.

Before you agree to hire them, make sure that they clearly explain when payment is due and for how much.

You’ll also need to factor in VAT, if it isn’t included in the quote. The 20% VAT charge might increase the bill by quite a bit.

4. Bank as a co-executor

If the deceased used a bank to draw up their will and appointed them as a co-executor.

They might suggest they act as a professional executor and carry out probate.

In fact, in the past some have tried to insist on this.

With this arrangement, the bank tends to charge a percentage of the value of the estate for their services.

In some estates, this could mean tens of thousands of pounds in service fees.

You could ask the bank to step down as executor, with the agreement of all beneficiaries.

But if the bank refuses to renounce its role, you might have to apply to the court to remove them.

This article is provided by the Money Advice Service.

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We hope you find Rest Less Money a useful resource and we would welcome your feedback at [email protected] on how to make it even better. For more information on any of the above you can read our full terms and conditions.

Some important information about Rest Less Money

We want you to understand the positives, but also the limitations of using our site. We operate in a journalistic manner and therefore all information, guidance or suggestions provided are intended to be general in nature, and you should not rely on any of the information on the site in connection with the making of any financial decision.

When we set out to build Rest Less Money, we wanted to be a trusted place where you could find helpful information about financial matters affecting the over 50s. As a free to use resource, we try hard to provide the best information we can, but we cannot guarantee that we won’t occasionally make mistakes. So please note that you use the information on our site at your own risk, and we can’t accept liability if things go wrong.

Key things to remember when using Rest Less Money:

We do not offer financial advice – As a journalistic site, it’s important to know that we do not provide financial advice. You should always do your own research before choosing any financial product so that you can be certain it is right for you and your specific circumstances. If you are in any doubt, please seek professional financial advice from a regulated financial advisor.

No Liability – please note that you use the information on Rest Less Money at your own risk and we can’t accept liability for how you choose to use the information given on our site. We will often provide links to content or products and services available on other third-party websites. These are provided purely for your convenience and we cannot be held responsible for any content, or any of the products and services offered on any website that we link to.

 

Accuracy of Information – We try to make sure that all the information provided on Rest Less Money is correct at the time of publishing as we want it to be the most helpful resource possible. Sadly, we are not perfect however, and so we can make no guarantees as to the completeness, accuracy, adequacy or suitability of the information available on the site.
Whilst we work hard to try and provide accurate information, deals and prices can change, so whilst they may be correct at the time of writing, providers may subsequently decide to alter them later – so always double check first.

A final note on the Rest Less Community Forums – always remember that anyone can post their opinion on the Rest Less Community Forums, so it can be very different from our own opinion and may not be factual or well researched. Always be wary of any content posted on the forums and be sure to do your own research and due diligence on anything suggested. 

We hope you find Rest Less Money a useful resource and we would welcome your feedback at [email protected] on how to make it even better. For more information on any of the above you can read our full terms and conditions.

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