|Typical Bank fee||£2,600||£7,200||£16,200|
|Typical Solicitor’s fee||£1,300||£3,600||£8,100|
How long does probate take
Obtaining a Grant of Probate can take as long as 4-6 weeks depending on the executor and the estate details.
You must remember that the 4 – 6 weeks is based on the application time from point of application made by a solicitor.
Probate can take longer and will depend on the following
The time it takes to collate all of the assets and write to all of the institutions concerned
The time it takes to collect all of the beneficiary details
The time it takes the executor to trace all of the assets and liabilities
Other Factors regarding How Long Probate Takes
If you are carrying out DIY probate you will need to attend a registry office to swear an oath. There is currently a 12 week waiting time in some offices for personal or DIY applications. This will significantly lengthen how long probate takes. In addition the district valuer may want to see more evidence that you have carried out your role in valuing the estate correctly. District valuers will often pay closer attention to personal applications as they are not covered by rules laid down by the SRA.
Paying Inheritance Tax
If you are carrying out a DIY application you will need to pay inheritance tax prior to receiving a grant of probate. This will add time to your application as you will not be able to give an undertaking in the same way a solicitor can. You will also need to carry out many more valuations and this will also ad to how long probate takes. You will normally need to have a probate valuation carried out on residential and business property as well as valuations for any significant items of value.
Dealing with Charities
Some charity’s will ask to see a statement of estate to ensure they are receiving the correct gift. How long probate takes could hinge on their speed to deal with this.