Pricing Transparency - Penn Chambers - Wills & Probate

This page gives you the full details of the pricing methodology for Penn Chambers Solicitors Wills & Probate Team.

If you require any further information please do not hesitate to contact us.

Penn Chambers Limited

Wills and Probate Team

Charging Basis

We use three methods to charge for the work that we do:

1. For most will and LPA type matters we use a flat fee regime; and

2. Most probate type matters we use a percentage fee regime; and

3. More complex matters or matters that we cannot clearly identify the extent of the work that may need to be undertaken we charge on an hourly fee basis.

The figures below do NOT include VAT which will need to be factored into the fees where applicable. The current rate of VAT is 20%.

Time spent on your case will include meetings with you and others on your behalf; time spent travelling; considering and preparing papers or documents; considering correspondence (including emails, SMS and WhatsApp messages) and making and receiving telephone calls, SMS and WhatsApp messages from you or anyone else related to your case.

We will review our rates annually around April each year and notify you in writing if we increase our rates in April/May which will take effect by 01 June of each year.

Bills must be settled within 14 days.

Other Expenses

In addition to our fees, we charge a fee of £50 plus VAT to undertake a money laundering search. We only charge this fee ONCE per case. This may leave a footprint on your credit file. This is to enable us to pay for an electronic search of various Registers on your behalf to ascertain your identity, check whether you are on a Sanctions List or whether you are a Politically Exposed Person etc. The obligation to obtain this information is imposed upon us by law. Although there are various ways to obtain this information, some cheaper, some more expensive, we have found this to be the least intrusive and cost effective method of obtaining all the information from one source. This is the average cost incurred by us in undertaking the searches and that we pay to a third party for using their system.

If we are required to make urgent payments on your behalf such as a telegraphic transfer fee, more correctly described as a CHAP's payment then we will charge you £35.00 plus VAT for sending the CHAP's payment which covers some administration charges and some actual charges imposed by our bank.

Disbursements

In addition to our fees, it is likely that disbursements will be payable. Disbursements are costs related to your matter that are payable to third parties, such as Court fees. By way of example only:

1. The fee to issue an application - this cannot be determined at this stage as it is usually based on the cost of the claim.

2. Barristers fees - these cannot be determined at this stage as it is usually based on the number of days, for example, a court hearing may take, the volume of papers, the complexity and the seniority of counsel.

3. Fees for lodging an LPA with the Office for the Public Guardian is usually £82 per application.

FLAT FEE MATTERS:

Typically our flat fees regime will apply to straight forward Wills, LPA's, Change of Name Deeds and Severance of Joint Tenancies and some more straightforward probate matters:

a) Wills

1) Will - With No Tax Planning -

Straightforward wills are usually charged as a flat fee matter.

2) Will - With Some Tax Planning -

More complex Wills are charged typically on an hourly basis (see below for more information).

3) Will - With Advanced Tax And Financial Planning - Very complex Wills are charged typically on an hourly basis (see below for more information).

b) LPA's

1) LPA - With Limited or No Instructions or Preferences - Straightforward LPA's are usually charged as a flat fee matter.

2) LPA's - With Some Instructions and Preferences - More complex LPA's are charged typically on an hourly basis (see below for more information).

3) LPA - With Complex Instructions and Preferences - Very complex LPA's are charged typically on an hourly basis (see below for more information).

c) Change of Name Deed - Straightforward Change of Name Deeds are usually charged as a flat fee matter.

d) Severance of Joint Tenancy - Straightforward Severance of Joint Tenancies are usually charged as a flat fee matter.

Increasing Your Flat Fee

A flat fee means that we will agree to conduct our work for one fee on the basis that we assume your case can be prepared in a reasonable time with a reasonable amount of legal input. We assume that there will not be any undue delays caused by a change in your instructions or providing the documents or information that we have requested from you. If the scope (what you have asked us to do) of the work changes or the assumptions upon which our fee is based change (for example the work becomes far more complex than you or we envisaged), this flat fee will no longer apply.

In that case, we will discuss increasing the flat fee with you and refer you to the additional information below.

The assumptions that we make are that you will provide us with the information that we request from you or return documents in a swift and timely manner. If you fail to do so or your matter becomes more complex than initially envisaged, we reserve the right to either:

a) continue to work on your matter under the terms of the original flat fee; or

b) provide you with a new flat fee if we believe that your present limit has become unrealistic because additional and unforeseen work may have become necessary in your case and the flat fee should no longer apply; or

c) charge you for all the matter (with your agreement) or the future aspect of the matter on an hourly fee basis (see below)

We will, of course, discuss any increases in the flat fees or changes in charging methods with you before we carry out any further work on your behalf.

PERCENTAGE FEE MATTERS

Typically we will charge a percentage fee for more straightforward Probate matters.

Our fees for a straightforward Probate will typically be approximately 1% of the value of the whole estate. Complicated matters will tend to be approximately 2% of the value of the whole estate and most complex matters will be approximately 3% of the value of the whole estate. However, it should be noted that the more complex Probates are charged typically on an hourly basis (see below). On top of this we add VAT at the prevailing rate above mentioned.

Increasing Your Percentage Fee

Percentage fee means that we will agree to conduct our work for a flat fee as a percentage of the value of the whole estate and on the basis that we assume your case can be prepared in a reasonable time with a reasonable amount of legal input. We assume that there will not be any undue delays caused by a delay in you providing instructions or a change in your instructions or providing the documents or information that we have requested from you. If the scope (what you have asked us to do) of the work changes or the assumptions upon which our percentage fee is based change (for example the work becomes far more complex than you or we envisaged), this percentage fee will no longer apply.

In that case, we will discuss increasing the percentage fee with you and refer you to the additional information below.

a) continue to work on your matter under the terms of the original percentage fee; or

b) provide you with a new percentage fee if we believe that your present limit has become unrealistic because additional and unforeseen work may have become necessary in your case and the percentage fee should no longer apply; or

c) charge you for all the matter (with your agreement) or the future aspect of the matter on an hourly fee basis (see below)

We will, of course, discuss any increases in the percentage fees or changes in charging methods with you before we carry out any further work on your behalf.

HOURLY CHARGE MATTERS:

Typically non-complex Probate matters and non-complex LPA's will be charged on a flat fee basis (please see above) but some more complex or unusual Probate or LPA or Will matters will be charged on an hourly basis depending on various matters including the complexity of the matter.

In such cases, it is simply impossible to estimate the number of hours of work to undertake and how long it will take for your matter to complete as this completely depends on the circumstances in your case, whether your application(s) are contested, whether your case has any complicating features and how long it takes any third parties involved, such as the Courts when listing your case.

Before we start working on your case however, we will provide you with what we genuinely believe will be a realistic estimate of the fees that we are likely to incur and limit our costs to that figure before doing any further work if that limit appears to have been reached.

Increasing Your Fee Limit

We will provide you with a new limit if and when we believe that your present limit has become unrealistic because additional and unforeseen work may become necessary in your case.

We will, of course, discuss any increases in fees with you before we carry out any further work on your behalf.

Charging Methodology

We charge on an hourly basis on top of which we add VAT at the prevailing rate. An hour is divided up into "units" of 6 minutes. Each hour, therefore, has ten units. The charges relate to the lead Solicitor with conduct irrespective of the actual person who undertakes the work, as the lead Solicitor is the person with day to day responsibility for your case and will oversee the work of others who may undertake work on your file on their behalf.

Each letter, e-mail, fax or telephone call made or received, SMS or WhatsApp message etc is charged as one unit (that is 10% or 1/10th) of the hourly fee charged by the lead person. Long letters, emails, faxes and telephone calls made or received, SMS or WhatsApp message etc are timed and charged in units of six minutes. All other work is charged for the time taken in the preparation of the same. On top of this we add VAT at the prevailing rate above mentioned.

How We Assess Our Charge Out Level

Each case is assessed by the level of risk, NOT by the location of the Advisor. Risk is determined by several factors such as the complexity of the matter, the value of the claim and the vulnerability of the client. Depending on these factors and others, we then allocate the work to be undertaken by the appropriate level of advisor. That level of advisor will have a charge-out rate allocated to them.

For example, a very complex matter, with a high value claim will be allocated to a partner level advisor (A4 Level) and a simple case, with a limited claim being made, may be allocated to an assistant level advisor (A2 Level) and so on.

It is on that basis that for example, you may be allocated an advisor who may be located in say, our Sheffield Office, when we also have an advisor say in our London Office, even though you may be based in London. We believe that this ensures that you have best value for money in your particular case.

Charge Out Rates

The range of advisors we have in the Wills, Trusts and Probate Team could be as follows:

A4 Advisor - A Director level Solicitor/Senior Associate level advisor who charges at £500 per hour plus VAT

A3 Advisor - An Associate level Solicitor/Senior Solicitor level advisor/FILEX level advisor who charges at £400 per hour plus VAT

A2 Advisor - An Assistant level Solicitor level/Senior level CILEX level advisor who charges at £300 per hour plus VAT

Key Stages

Key Stages - Will:

a) take your instructions on the assets in the estate and discuss how you would like assets to be distributed in detail; then

b) confirm the executors, trustees and any child guardians;

c) consider long term general implications of those instructions;

d) consider the short, medium and long term tax implications of those instructions

e) prepare a draft will for consideration;

f) arrange for the same to be carefully executed to ensure it is fully valid

g) arrange for the safe storage of the will.

Key Stages - LPA's:

a) take your instructions on the scope of the LPA and discuss this with you in detail; then

b) notify people you want us to notify of the LPA to afford you greater protections if you wish; then

c) obtain signed documentation from your Certificate providers; then

d) obtain signed documentation from your Attorney's; then

e) register the same with the Office of the Public Guardian, then finally

f) send you the original LPA's

Key Stages - Probate:

a) take your instructions as to the nature and extent of the deceased's estate and consider if there are any parts of the estate that need further investigation; and

b) write to all concerned relating to the assets within the estate notifying them of the death of the deceased;

c) consider whether there may be any potential Inheritance (Provision for Family and Dependents) Act 1975 claims;

c) identify all the assets that fall within the estate;

d) prepare your Inheritance Act tax forms and notify you of the tax payable (if any); and

e) once the tax has been paid to then apply for Grant of Probate; and

f) then once the Grant of Probate has been granted, to then "call-in" all the assets of the deceased's estate,

g) discharge any debts that are properly payable and account for the same;

h) prepare an Estate Account Summary; and

i) once that is approved by the executor(s) then distribute the assets accordingly; then

j) finalise the accounts in the Final Estate Accounts, for final sign off by us and by the Executor(s).

Forecast Of Costs In A Typical Will Matter:

1) Will - With No Tax Planning

A straightforward Will with no tax planning advice with limited assets is likely to be charged on a fixed fee basis but that said, our fees for such a Will is likely to be in the region of £750. On top of this, you will need to add VAT at the prevailing rate above mentioned and other expenses (onboarding search fee) above mentioned of £50 plus VAT. It is unlikely that you will have any other disbursements.

2) Will - With Some Tax Planning

Our fees for a complicated Will, with trust provisions and some tax-saving strategies with complicating features, will be in the region of £2,000. On top of this, you will need to add VAT at the prevailing rate above mentioned and other expenses (onboarding search fee) above mentioned of £50 plus VAT. It is unlikely that you will have any other disbursements.

3) Will - With Significant Tax Planning

Our fees for a complicated Will, with trust provisions and significant tax-saving strategies with complicating features, will be in the region of £2,500. On top of this, you will need to add VAT at the prevailing rate above mentioned and other expenses (onboarding search fee) above mentioned of £50 plus VAT. It is likely that you will have a further disbursement of say £3,000 plus VAT for a tax specialist's advice in addition.

Forecast Of Costs In A Typical LPA Matter:

a) A straightforward LPA is likely to be charged on a fixed fee basis but that said, our fees for a straightforward LPA without detailed scoping advice with limited complicating issues or procedures will be in the region of £750. On top of this, you will need to add VAT at the prevailing rate above mentioned and other expenses (onboarding search fee) above mentioned of £50 plus VAT. The current cost of the registration fee payable to the Office of the Public Guardian is £82 per application. It is unlikely that you will have any other disbursements.

b) Our fees for a more complex LPA with detailed scoping advice with more complex financial issues will be in the region of £1,500. On top of this, you will need to add VAT at the prevailing rate above mentioned and other expenses (onboarding search fee) above mentioned of £50 plus VAT. The current cost of the registration fee payable to the Office of the Public Guardian is £82 per application. It is unlikely that you will have any other disbursements.

c) Our fees for a very complex LPA with substantial and detailed scoping advice with significant complex financial issues will be in the region of £3,000. On top of this, you will need to add VAT at the prevailing rate above mentioned and other expenses (onboarding search fee) above mentioned of £50 plus VAT. The current cost of the registration fee payable to the Office of the Public Guardian is £82 per application. It is unlikely that you will have any other disbursements.

Forecast Of Costs In A Typical Probate Matter:

a) A straightforward Probate matter is likely to be charged at a percentage fee basis but that said if it was charged at an hourly rate and had no additional complicating features with limited assets and limited beneficiaries will be in the region of £3,000. On top of this, you will need to add VAT at the prevailing rate above mentioned and other expenses (onboarding search fee) above mentioned of £50 plus VAT. It is unlikely that you will have any other disbursements but you may have an inheritance tax bill to pay, payable by the estate.

b) Our fees for probate with more complicating features with more significant assets and a number of beneficiaries will be in the region of £10,000. On top of this, you will need to add VAT at the prevailing rate above mentioned and other expenses (onboarding search fee) above mentioned of £50 plus VAT. It is unlikely that you will have any other disbursements but you may have an inheritance tax bill to pay, payable by the estate.

c) Our fees for probate with significant complicating features with substantial and significant assets and a number of beneficiaries will be in the region of £20,000. On top of this, you will need to add VAT at the prevailing rate above mentioned and other expenses (onboarding search fee) above mentioned of £50 plus VAT. It is unlikely that you will have any other disbursements but you may have an inheritance tax bill to pay, payable by the estate.

How Do We Keep This Information Up To Date?

Penn Group will occasionally make changes and corrections to the above. If we believe that the changes are material, we’ll let you know by doing one (or more) of the following:

(1) posting the changes on our website site, or

(2) sending an email to you (if you are an existing client) informing you about the changes; or

(3) writing a letter to you (if you are an existing client) informing you about the changes.

Penn Chambers

04.03.24

Version 2.9

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