Another thing to consider when you compare probate services is that solicitors charge for probate in different ways. This can make it difficult to calculate exactly how much you’ll have to pay, but you may be able to make an estimate based on the value of the estate.
Here are the three main ways solicitors charge for probate:
Fixed price
This is where your probate solicitor will quote you a fixed price upfront, including any additional costs for the probate registry fees or copies of probate. This is the safest option as it ensures there are no hidden costs to worry about later.
Percentage basis
This is where the probate solicitor charges a percentage (usually 2-4%) of the estate’s total value. Percentage-based pricing often sounds great on paper, but – for a simple estate worth £300,000 – you could easily end up paying between £6,000 and £12,000.
Hourly rate
Though this is gradually being phased out, some solicitors still charge their clients on an hourly rate, which can be anywhere from £150 to £300 an hour. This is often the riskiest choice, as it’s very difficult to know exactly how much you’ll need to pay upfront.
