Executry & Probate Fees
SCHEDULE OF CHARGES FOR FEES
At the commencement of the administration, the hourly rate will be £235.00 which will be divided into 10 units of 6 minutes. The unit rate will therefore amount to £23.50. Our fees will be bases on the amount of work required to ingather and distribute the estate plus a percentage of the value of the estate calculated as follows:
Where there is no Will, an additional fee of £250 plus VAT will be charged to cover the time involved in obtaining the Bond of Caution and drawing up the Court Writ.
Where IHT is payable a further fee of £500 plus VAT will be charged to cover the work involved in dealing with the Inland Revenue.
Commission
On capital transactions:
(a) Money forming part of the original estate uplifted from banks, building societies & Insurance companies:
(b) Stock, Shares and other securities realisable on the stock exchange:
(c) Where stocks and shares are held in a nominee company or under a managed portfolio arrangement the rate of commission should be 0.25%
(d) Other stocks, shares and securities not realisable on the stock exchange and interests in private partnerships:1% to 5%
(e) National savings: 1%
(f) Miscellaneous property: 1%
(g) Securities/Assets that are transferrable to beneficiaries: 1%
(h) Investing or reinvesting capital:
Additional factors
Where we charge an item of business according to the circumstances or by reference to units there shall be charged a sum as is fair and reasonable both to W.W. & J. McClure solicitors and to the client taking into consideration all of the following factors where relevant:
(a) The importance of the matter to the client
(b) The amount or value of any money or property involved
(c) The complexity of the matter of the difficulty or novelty of the question raised,
(d) The skill, labour, specialist knowledge or responsibility involved on the part of the Solicitor or assistant
(e)The time expended
(f) The length, number and importance of any document or other papers prepared or perused, and
(g) The place where and the circumstances in which the services or any part thereof are rendered, including the degree of expedition required.
Responsibility
A percentage of the amount or value of the money or property involved will be added to compensate for risk or indemnity element in carrying out the work. This will be calculated at 0.5% of the value up to £250,000 of the estate with lower percentages of higher amounts. The percentage rate should be fixed taking into account the above factors and also the amount of hourly rate applied to expended time.