The cost of administering an estate can vary enormously.
One firm of lawyers' fees for probate can be three or more times the price of another's; surprisingly, unregulated firms often charge more, while banks have traditionally offered the most expensive services.
Choosing how much of the process to complete yourself can also make a big difference to the estate and what will be left to give the beneficiaries.
Our prices start from just £780. This includes VAT but not the probate registry’s fee. You can find out more about our probate services here.
Below we set out three alternative ways estates can be charged and why we believe our prices are the best.
In the past it was normal for probate to be paid for on a percentage fee basis. This is still very common and rates vary between 1% and 4% of the estate. Whilst this may not seem to be a high amount it should be looked at in terms of whether it is a fair figure.
A percentage fee will obviously increase with the value of the estate, regardless of how much work actually needs to be done.
To us at Probaters, we feel this is an unfair situation. Most Executors will not accurately know the value of the estate before deciding on whether to hire, and who to hire. This means they are unlikely to have a firm idea of how much they will be paying out in fees.
Some firms charge an hourly rate, as is normal with litigation or commercial cases. This method also leaves executors with guessing as to what the final fees will be. At a time when executors may be mourning the loss of a loved one, certainty and stability are valued.
A fixed fee allows executors to understand fully what they will be paying and what they can expect in return. That is why at Probaters we only work on a fixed fee basis when administering estates. Whether you choose to hire us to complete the entire process or for the grant only service from (£780) you will know what you are paying from the start.