We have prepared some guidance of how we charge our fees for Private Client services for the information of potential clients. However, it must be stressed that we would always prefer you to get in touch with us directly so that we can offer you a more bespoke estimate of costs once we have a better understanding about what work we will need to undertake for you.
The fee for basic Will for a single personal person starts at around £350 + VAT. If there are numerous legacies or Trust provisions for young or vulnerable beneficiaries required, this can rise to approximately £500 – £600 + VAT.
The fee for basic Wills for a couple starts at £500 + VAT (i.e. £250 + VAT per Will) where they are roughly in mirrored terms. Again, numerous legacies and Trust provisions can increase the fee to approximately £700 – £800 + VAT (for both Wills).
Inheritance Tax planning or general succession advice is charge separately on an hourly basis. A Partner’s rate is £240 + VAT and an Associate and Private Client Manager’s rate is £215 + VAT per hour.
Powers of Attorney
The fee for a Power of Attorney for a single person covering financial and/or welfare matters is £350 + VAT. Powers of Attorney are registered with the Office of the Public Guardian and they will charge an additional £81 to register each Power of Attorney.
The fee for Powers of Attorney covering financial and/or welfare matters for a couple in roughly mirrored terms is £500 + VAT (i.e. £250 + VAT per Power of Attorney). Again, the Office of the Public Guardian’s registration fee of £81 per Power of Attorney is an additional outlay to our fee.
It is exceptionally difficult to give an estimate of fees for winding up an estate when they can vary so vastly in size, complexity, location of assets and number of beneficiaries. A very rough estimate can be given once we have some background information but, ultimately, our Executry files are send to an independent Law Accountant to have our fee set. The Executors are free to choose which Law Accountant is used if they so wish. Having our fee set externally gives all parties piece of mind that a fair fee has been charged for the work which has been carried out in winding up an estate. The hourly rates used are the same as those detailed above for members of our Private Client team.
Our fee for setting up a Trust is usually around £1,500 + VAT. We can also deal with the on-going management of Trusts, complete annual Income Tax and Capital Gains Tax Returns, make distributions to beneficiaries, complete annual Trust Accounts, ensure compliance with relevant tax authorities and monitor investment portfolios managed externally. This work is completed by our Private Client Manager with a charge out rate of £215 + VAT per hour.