|Typical Bank fee||£2,600||£7,200||£16,200|
|Typical Solicitor’s fee||£1,300||£3,600||£8,100|
The Percentage Model
The percentage model charges probate fees based on the total value of the estate used by many high street solicitors use this model will total the value of the estate and then bill at a pre determined percentage.
For example probate fee’s for a typical £250,000 estate may be as much at 2.5%, meaning the benefices would lose £6250.00 from the estate value in fees. In addition there would be charges for standard disbursements such as the probate application and statutory advertisements.
The Hourly Rate Model
An hourly rate would be charged by the solicitor that would be detailed within the terms of business. Often a ballpark figure would be given in advance but there would be no guarantee that the work would be done in those allotted hours. Any unforeseen circumstances that arise in the administration of the estate would then directly affect the probate fees due to the increased hours.
Typically hourly fees will range from £150.00 to £300.00 depending on the solicitor and could even be higher for more specialist service.
The Best Guess Model
Even in the age of technology, solicitors are still tempted to give a best guess price often involving experience and an understanding of the estate value. The legal professional will provide you with an estimate that may increase as you go through the probate process. Rarely would it decrease.
The Final Duties Probate Fees Model
When you talk to a Final Duties professional about your probate fees, he or she will always try and give you the most accurate fee possible.
We do this using our estate fact find. Unlike some firms, we don’t charge based solely on the value of the estate but focus on the volume of work to do. For example, if we were dealing with an estate valued at £150,000 and another with a value of £300,000, both estates consisting of one property, one bank account and identical distribution and will planning then the fees would be the same.
Through the proper use of our fact find, we look to save you money from the very beginning.
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The Final Duties Solicitor
We work with a unique panel of solicitors all of whom are regulated by the SRA and unlike some probate firms they take on complete responsibility for ensuring your estate is administered correctly. Working with a diverse and specialist group of professionals means we can always place your case with the most appropriate partner best qualified to deal with your estate whilst ensuring they have the capacity to deliver great customer service.
Guaranteed Fixed Fee
Few solicitors will provide fixed probate fees so you won’t know the final cost until the bill arrives. We take comprehensive details of the estate at the outset so that we can provide a fixed fee written probate quotation that is guaranteed not to increase unless the details of the estate change.
Absolutely no Hidden Fees
Your fixed fee quotation will include a 24 point schedule that sets out exactly what service you will receive and a break down of all other charges and disbursements.
We only deal with fully qualified solicitors. This means that all client monies are held securely in their clients’ accounts and protected by the solicitors’ compensation fund. This gives you absolute financial security and peace of mind.
If you would like to know more or have any questions we can help with why not give us a call or read the low cost probate testimonials on our contact us page