{"id":1437,"date":"2023-07-04T19:29:19","date_gmt":"2023-07-04T19:29:19","guid":{"rendered":"https:\/\/llyscennen.co.uk\/?page_id=1437"},"modified":"2023-07-04T19:30:43","modified_gmt":"2023-07-04T19:30:43","slug":"administration-of-estate-fees","status":"publish","type":"page","link":"https:\/\/llyscennen.co.uk\/administration-of-estate-fees\/","title":{"rendered":"Administration of Estate Fees"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"1437\" class=\"elementor elementor-1437\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-be43eaf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"be43eaf\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wide\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4b753ac\" data-id=\"4b753ac\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c0a80e6 elementor-widget elementor-widget-heading\" data-id=\"c0a80e6\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.14.0 - 26-06-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">Administration of Estate Fees<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9df6203 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9df6203\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e1a2387\" data-id=\"e1a2387\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-9e9e6dc elementor-section-content-middle elementor-reverse-tablet elementor-reverse-mobile elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9e9e6dc\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wide\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-7ae9040\" data-id=\"7ae9040\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f878e43 elementor-widget elementor-widget-heading\" data-id=\"f878e43\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Example of Administration of Estate Fees<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-27a27d4 elementor-widget elementor-widget-text-editor\" data-id=\"27a27d4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.14.0 - 26-06-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Every estate is different with regards to its complexity and value and as such it is very difficult to provide a precise quotation as to costs. Estate costs can range from \u00a3500 plus VAT up to \u00a310,000 plus VAT depending on the value of the estate and the number of banks or building societies or shares involved.<\/p><p>A typical estate will normally consist of the following;<\/p><ul><li>There is a valid will<\/li><li>There is no more than one property<\/li><li>There are no more than four or five bank or building society accounts<\/li><li>There are no intangible assets such as patents or copyrights<\/li><li>There are no more than four or five beneficiaries<\/li><li>There are no disputes between the beneficiaries with regards to the division of assets. If a dispute arises then this is likely to lead to increased costs<\/li><li>There is no Inheritance Tax to pay and the executors do not need to submit a full account to HM Revenue &amp; Customs (only a short Tax Return is required to be filed with the Probate Registry)<\/li><li>There are no claims against the estate<\/li><\/ul><p>With an estate of this nature we would anticipate to undertake between 5 and 20 hours work at our hourly rate of \u00a3220 per hour plus VAT. In addition to our time spent charges we would agree a value element calculated by reference to the value of the estate of between a half to one percent of the value of the estate. Our fees will normally amount to between 1% and 2% of the value of the estate plus VAT and disbursements.<br \/>The exact costs will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property, costs will be at the lower end of the range compared to an estate with a property, a number of beneficiaries and multiple bank accounts.<br \/>In addition to our fees disbursements will be incurred in the administration of an estate. Disbursements are costs relating to your matter that are payable to third parties such as the Probate Registry fee. We handle the payment of the disbursements on your behalf to ensure a smoother process.<\/p><p>Typical disbursements include;<\/p><ol><li>The Probate application fee of \u00a3155 plus an extra 50p per copy Grant of Probate (it is usually worth obtaining at least three or four copies, more if the estate is complex)<\/li><li>Bankruptcy only Land Charges Department searches \u00a32 per person<\/li><li>Lost share certificate indemnity policies (dependant on the value of the shares)<\/li><li>The cost of a Trustee Act Notice in the London Gazette to protect against unexpected claims (the fee will be confirmed at the time)<\/li><li>The cost of a Trustee Act Notice in the local paper to protect against unexpected claims (the fee will be confirmed at the time)<\/li><\/ol><h3>Potential Additional Costs<\/h3><ul><li>If there is no will or the estate consists of any shareholdings (stocks and bonds) there is likely to be additional costs which could range significantly depending on the estate and how it is to be dealt with. We can give you a more accurate quote once we have more information.<\/li><li>Dealing with the sale and transfer of any property is not included<\/li><\/ul><h3>How long will this take<\/h3><p>On average, estates such as those described above, are dealt with within three to six months. The obtaining of a Grant typically takes four to ten weeks. The collecting of the assets then follows which can take between two and four weeks. Once this is done, we can distribute the assets, which normally takes one to two weeks. Estates can however take significantly longer if a full Tax Return needs to be filed, particularly if Inheritance Tax has to be paid.<br \/>This information is purely provided as a guide as to the costs of administering an estate. We confirm that because each estate is different, whilst we aim to be as accurate as possible we cannot of course be precise in our estimates and would ask that you contact our offices to arrange a meeting with us to discuss the issue in detail on a no obligation basis.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Administration of Estate Fees Example of Administration of Estate Fees Every estate is different with regards to its complexity and value and as such it is very difficult to provide a precise quotation as to costs. Estate costs can range from \u00a3500 plus VAT up to \u00a310,000 plus VAT depending on the value of the &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/llyscennen.co.uk\/administration-of-estate-fees\/\"> <span class=\"screen-reader-text\">Administration of Estate Fees<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"site-sidebar-layout":"no-sidebar","site-content-layout":"page-builder","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"_links":{"self":[{"href":"https:\/\/llyscennen.co.uk\/wp-json\/wp\/v2\/pages\/1437"}],"collection":[{"href":"https:\/\/llyscennen.co.uk\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/llyscennen.co.uk\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/llyscennen.co.uk\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/llyscennen.co.uk\/wp-json\/wp\/v2\/comments?post=1437"}],"version-history":[{"count":4,"href":"https:\/\/llyscennen.co.uk\/wp-json\/wp\/v2\/pages\/1437\/revisions"}],"predecessor-version":[{"id":1441,"href":"https:\/\/llyscennen.co.uk\/wp-json\/wp\/v2\/pages\/1437\/revisions\/1441"}],"wp:attachment":[{"href":"https:\/\/llyscennen.co.uk\/wp-json\/wp\/v2\/media?parent=1437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}