The charges to administer an estate will be discussed in detail with clients at the initial meeting, for which there will be no charge.  The charges will then be agreed before work on the estate administration is begun.

Wanstall Consulting offers four options when charging to administer an estate:

Option 1 – Administration of Estate – Time Spent Basis

  1. The time involved in administering an estate will be charged on a time spent basis – ie all time involved will be recorded.
  2. These activities include, but are not limited to: meetings; correspondence (emails or letters); telephone calls; drafting documents to assist with the application for the grant of representation; notes of meetings; reviewing papers and documents provided by clients and third parties which are relevant to the administration of an estate; collating relevant information to be able to administer the estate; all calls made or received.
  3. For time recording purposes, time is recorded on a unit basis. Each hour will be treated as 10 units, with each individual unit being 6 minutes.
  4. Reviewing any incoming correspondence (emails or letters) will be charged at half the normal rate.
  5. The current hourly rate is £225 an hour. There is currently no vat charged. The hourly rate will be reviewed each April.
  6. As a guideline, the overall cost for the administration of an estate will normally be between 1.5% and 3% of the overall gross value of the estate.
  7. If it is agreed to carry out an attorney application, the cost for the Power of Attorney will be £150.

Option 2 – Grant only application where there is no Inheritance Tax payable – Client provides all information

  1. Where the client wishes to administer the estate themselves and just wants assistance in the application for the grant of representation and will provide all the relevant details and information as outlined by me, there is a fixed fee of £800.
  2. If it is agreed to carry out an attorney application, the cost for the Power of Attorney will be £150.

Option 3 – Grant only application where there is no Inheritance Tax payable – Wanstall Consulting collates relevant information

  1. Where the client wishes to administer the estate themselves after the grant of representation has been issued, but wishes Wanstall Consulting to collate all the relevant information and details required with the application for the grant of representation, the charge will be:
    1. a fixed fee of £800 for the assistance with the application itself; and
    2. a time spent basis for the collation of the information required, including, for example, liaising with third parties such as banks.
    3. As mentioned above, the current hourly rate is £225 an hour.
    4. If it is agreed to carry out an attorney application, the cost for the Power of Attorney will be £150.

Option 4 – Grant only application where there is Inheritance Tax payable – Wanstall Consulting collates relevant information

  1. Where Inheritance Tax is payable and the client just wishes to have assistance with the application for a grant of representation, Wanstall Consulting will need to collate all the relevant information required.
  2. The charge for Option 4 will be on a time spent basis.
  3. As mentioned above, the current hourly rate is £225 an hour.
  4. If it is agreed to carry out an attorney application, the cost for the Power of Attorney will be £150.

Additional Charges

  1. There will be other costs and disbursements (other charges raised by third parties) which the client will need to cover in addition to our advisory fees.
  2. Clients will be asked to settle any such charges with the relevant third party direct.
  3. Wanstall Consulting will not hold any funds relating to the estate during, or after, the administration of the estate, apart from our own charges as listed above.
  4. These additional charges include, but are not limited to:
    1. Probate Court Fees  – currently £215
    2. Each copy grant of representation – £1.50
    3. Each copy death certificate – £11
    4. Valuation fee house/personal belongings – varied
    5. Section 25 Trustee Notices – varied

[1st January 2020]

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