It is extremely difficult to give you an exact idea of the likely cost of dealing with the administration of an estate as the total cost will depend on several variables.
As you can see, the extent of the estate and the deceased's circumstances as well as how their estate devolves has a significant impact on our costs. Those matters that are likely to affect our overall costs are:
- Whether the deceased left a Will or not;
- The terms of the devolution of the estate (either under a Will or the intestacy provisions);
- Whether inheritance tax is payable or not (and whether it is necessary to negotiate with HMRC and their agents over the level of inheritance tax due);
- The nature of the assets within the estate;
- The extent to which we are involved in specific tasks (for example, there are some tasks that executors and/or family can undertake to minimise the amount of time we need to spend);
- Whether a claim is made against the estate (for example, under the Inheritance (Provision for Family and Dependents) Act 1975); and
- The extent to which the information we require is readily available.
It should be noted that the above list is illustrative, and the extent of the variable will be dictated by the individual client circumstances.