If you are preparing to apply for probate, you will likely have a lot of questions. Undoubtedly, one of those questions will be “How much does a probate solicitor cost?”.
In this blog from the experts at Wayman & Long, we outline average costs, fee options and more.
Applying for probate can be a daunting and confusing task. The ongoing process can be lengthy and there may well be hiccups along the way. Plus, some steps must be taken before you apply for probate, including valuing the estate and calculating inheritance tax. The process will also differ depending on whether or not there is a will.
With a probate solicitor, you have complete peace of mind. An experienced probate solicitor will advise you on the best action for each step. They will help you fill out all legal documents and ensure no costly mistakes are made.
If several family members are involved in the process, a probate solicitor can offer expert advice and help to mediate so the situation doesn’t escalate. They can also provide advice on other services, such as property law and conveyancing.
Alternatively, you can apply for probate yourself online or by post. This may be a beneficial option if you have a smaller estate. However, the process can be unexpectedly complex, and one small mistake can be incredibly expensive to correct.
So, having an experienced probate solicitor on hand to help can make a huge difference. We wrote a whole blog on whether or not you need a solicitor when applying for probate – you can read it here.
Probate solicitor fees vary depending on various factors, including the solicitor’s preferred pricing structure, the value and complexity of the estate, and individual circumstances. Depending on these factors, you may end up paying a Percentage Rate, an Hourly Rate or a Fixed Fee.
Although it is possible to go through the probate process without a solicitor, there are still fees to cover. For example, the cost of applying for probate is £300 (if your estate is worth more than £5,000). If required, an asset search will cost between £155-185 plus VAT.
At Wayman & Long, trust is at the forefront of everything we do, which is why we strive to be transparent with our clients. That’s why we are always upfront about our pricing and fees. So, how much does a probate solicitor cost?
When it comes to probate fees, we offer several options depending on your estate and other factors. Although we can’t give you an exact price (until we know more about your needs and estate), we can offer an insight into our prices.
For a Full Comprehensive Probate Service carried out by an experienced probate solicitor, our average cost is 2-5% of gross estate. Alternatively, we may charge an hourly rate of £350 for smaller estates.
If you required a Probate Service and Professional Executor Service, our average cost would be 3-5% of gross estate. Alternatively, we may charge an hourly rate of £350 for smaller estates.
We are also able to offer a Grant Only Probate Service, which includes our solicitors obtaining the grant of probate whilst leaving the named executors to carry out all of the other estate administration tasks. This is a fixed fee of £2,000 plus VAT and the external probate application fee of £300.
Wayman & Long is a long-standing solicitor’s firm located in Suffolk. Our specialist team of skilled and experienced solicitors help clients across the UK with a multitude of legal matters.
We can guide you through the probate process with expertise, compassion and kindness.
To ensure consistency, you will have your own dedicated solicitor. Plus, we have built a first-class reputation based on being transparent and trustworthy.
We provide an initial consultation free of charge. Get in touch today by calling us on 01787 277375, email us at enquiries@waymanandlong.co.uk, or filling in our online contact form.
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