And how much can you save me on probate solicitors fees?
Our Probate Broking Service will introduce you to a firm who have the skills to deal with your case, at fees based on the complexity of it. We can also source professional help ranging from a few minutes guidance to handing everything over lock stock and barrel. Why pay for services and expertise which are not needed? Maybe you don’t need to use a probate specialist at all.
How much would professional help with Probate cost?
The amount we can save you on Probate fees varies substantially: our best to date is a 94% saving! It is unusual for it to be that much, but there are normally substantial savings to be made. We do ask for any quotes you have had, not so we can quote a little less, but so we don’t waste time when you have had a really competitive quote – we’ll just say so! Probate solicitors fees do vary widely, and there are other professionals who can help.
The basic form is simple, but you are welcome to add additional details to help make our recommendations better.
We are told that some firms charge as much as 4% of the GROSS value of the estate, plus VAT which makes it almost 5% – one pound in twenty (plus third party costs) being lost to the beneficiaries.
Another thing to watch out for is the officially sanctioned ADDITIONAL fee of 1.5% + VAT = 1.8% of the GROSS value of the estate ON TOP OF the normal hourly rate the solicitor charges. We think that is just not cricket. It amounts to £18 on a £1000 asset or £5,400 one of £300,000 – plus all the time costs. Looking at London properties you “responsibility allowance” element could easily add £36,000 to the bill. The same will apply if the deceased had a mortgage or other debt of the same amounts, so a £500,000 property with a £400,000 mortgage would be dealt with at normal hourly rates – then another £16,200 added to the bill for the heavy responsibility!