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It is imperative to us as a business that we are as transparent as possible in respect of our fees.  As a regulated body we are also required by our regulator to do so.

This can be somewhat tricky with estate administration cases because there are so many variables.  Whilst we can be almost certain about some costs, such as probate application fees, land registry fees and statutory notice fees, the costs for our time spent on a case is much harder to predict.  The amount of time we expect to spend will depend on many factors such as:

• The terms of the Will or intestacy
• The type of Grant being applied for
• The number of executors or administrators
• The number of beneficiaries
• The number and type of legacies
• The number and types of assets in the estate
• The distribution of the assets
• The volume of correspondence with clients and third parties

It takes years of experience and regular market research to be able to estimate accurately what the likely cost for dealing with a particular estate will be.  Even then, one expert’s opinion might be wildly different from another’s.

To help combat this intricate issue, we have created our own bespoke calculator which helps us to estimate costs for our clients.  The calculator is crucial to giving us and our clients, much needed parameters.  Simply put, the calculator lists the tasks and actions that an estate administration case is likely to involve, from start to finish, and it allows the specialist to enter the amount of time they expect to spend on each task.

Based on the information gathered from the initial free meeting with our clients, we can estimate costs in a consistent way and with reasonable accuracy for all our clients.  Of course, the estimates we provide are based on the information we have at the time.  If, for example, more assets are uncovered at a later date, or, another beneficiary appears, then it will naturally affect the estimated costs.  However, it does work both ways, so if we overestimate our costs, we simply charge for the work done.  In the event that the original estimate does require upward revision, we inform clients so that they are aware.  The key to transparent fees is communication.

If you would like to speak to our specialist team regarding the above, get in touch.  Our experts are located in our Dalston, Dumfries, Penrith and Workington offices.