How much does probate cost?

The cost of probate depends on how you take care of the process. Sorting out an estate is complex and takes time, so dealing with it alone can be tough. For complete peace of mind, you could get help from legal experts. They can handle all the paperwork, value  the estate, settle debts, deal with tax, and hand out assets to beneficiaries.

If you don’t want a helping hand, it’s also possible to sort out probate yourself. This can seem like the cheapest option. But it could cost you time and effort in the long run. What’s more, if you make a mistake or encounter a problem, you may end up having to pay legal fees anyway.

The cost of sorting out probate yourself

Whether you get the help of a probate specialist or go it alone, probate costs money. Some probate fees and costs need to be paid along the way. And there may be VAT to pay on top.

Depending on the complexity of the estate you’re settling, your costs can include:

Probate application fee

Once you’ve valued the estate and worked out if Inheritance Tax is due, you need to apply for a grant of probate. This gives you the legal right to deal with someone's estate. You can apply online or by post, and there are more details on the gov.co.uk website.

The application fee in England and Wales is £300. However, you might not need to pay this if:

• The estate value is less than £5,000.
• You're on a low income.
• You claim benefits.

Searching for the will

An important part of probate is locating the deceased person’s last will and testament. This will show you how they intended their estate to be settled.

If you can’t locate the will easily, you may need to search the Government’s UK Probate Registry, the National Will Register or various private storage services. Another option is to get in touch with the person’s solicitor or law firm.

Getting help locating a will can cost anything from £1.50 (using the Government service) up to several hundred pounds (using private options).

Checking for bankrupt beneficiaries

Before you can distribute assets, you need to check if any of the beneficiaries are bankrupt. If they are, their inheritance may need to go to the creditors. As an executor, it’s your legal duty to ensure a bankrupt beneficiary does not wrongly receive assets.

Are you checking UK beneficiaries? There’s no cost to search the Government’s bankruptcy and insolvency register.

Are you checking overseas beneficiaries? If you need to make international searches, there may be costs involved depending on the country and process. There are private firms in the UK who can assist you. It’s a good idea to check their prices before you proceed.

Newspaper advertising costs

Another probate cost is the process of placing statutory adverts in newspapers. Also known as Trustee Act Notices, these adverts inform potential creditors and claimants of the deceased’s passing. This gives them a chance to make claims against the estate.

The cost of placing statutory adverts varies. But you can expect to pay:

• £100 to £200 for an advert in The London Gazette. This is the official UK publication for legal notices and offers wide visibility.
• £50 to £300 for publication in a local newspaper. This tends to be a paper based in the area where the deceased person lived.

Accountancy fees

When you’re dealing with probate, you may need the help of an accountant. They can help you value the estate, sort out tax, and follow all the legal requirements. Depending on how the accountant charges, you might need to pay:

• A fixed fee – this can be thousands of pounds if it’s a complex estate.
• An hourly rate – typically a few hundred pounds per hour.
• A percentage of the estate – this tends to be one to three percent.

If it’s a simple estate to settle, you may not need the help of an accountant. But any errors you make could prove costly.

Land Registry charges

You may need to pay Land Registry fees if you’re updating the property ownership records. This can occur in the following situations:

• Transferring property ownership to a beneficiary.
• Selling a property to new owners.
• Updating records for joint owners.

Depending on the property value and whether you get the help of a solicitor, Land Registry fees can range from tens of pounds to more than £1000. You might find it’s helpful to use the Land Registry fees calculator.

You may be able to use funds from the deceased person’s estate to cover some of the costs listed above. Just check with the service providers first.

Fixed-fee probate support with Saga Legal  

Sorting out an estate is a complex process, and it can cost you time, money and stress. Getting expert help can make all the difference. With the support of a trusted and regulated professional, you gain the peace of mind that everything will be sorted properly.

Saga Legal, in partnership with Co-op Legal Services,  have a team of friendly advisors ready to help, who can give you comprehensive probate support including: 

• Clear guidance through every step of the process.
• Dealing with all the paperwork for you. This includes the Grant of Probate or Letters of Administration, valuing the estate, settling debts, and tax admin.
• Distributing assets correctly to all beneficiaries.
• Avoiding costly and time-consuming errors.

One phone call could free yourself from a lot of legal, tax and administrative work.