When acting as a professional deputy we charge for our time on an hourly rate basis at the hourly rates permitted by the Court.
Up to 75% of our fees will be billed throughout the year with the remainder being billed once our fees have been assessed by the Senior Court’s Cost office.
If our client’s assets at the end of the financial year are less than £16,000 in total then our fees are limited to 4.5% plus 20% VAT of their total wealth irrespective of the number of hours recorded.
For clients who exceed this limit, we may opt to charge a fixed fee for the work completed at the permitted rate.
We charge interest on fees which remain unpaid after 28 days at a fixed annual rate of 8%.
If our client passes away, we will contact those responsible for administering the estate with full handover information and to discuss our outstanding fees.
These will be a debt of the estate and if they can be agreed we will await payment from the estate, but if these cannot be agreed then we will send our file to the SCCO and seek payment from the estate once our final fees have been assessed.
Estate Administration Fees
The information here applies only to uncontested estates and with all the deceased’s assets in the UK.
We will always provide you with a quote before commencing work and the fees here are generic to give you a realistic idea of the likely charges and nothing more.
Our charges are based on an hourly rate fee for the work agreed with you and for these purposes, we charge an hourly rate of £480 per hour (inclusive of 20% VAT). We may also be prepared to offer a fixed fee quote.
We will not proceed with our work until you have agreed to our fees and the tasks we are instructed to complete.
Basic Fees
As generic examples these are average fees (inclusive of 20% VAT) that we could charge:
Simple case: £5,000 - £15,000
Medium complexity case: £15,000 - £25,000
High complexity case: £20,000 - £30,000
Potential charges
Factors that could make a case more complex:
A large number of assets or debts
A larger number of beneficiaries or where there are difficulties in locating and/or communicating with beneficiaries
Unusual arrangements arising under the terms of the Will
To agree and settle inheritance tax with HM Revenue and Customs (HMRC)
Third-party payments
There may also be payments that need to be made to third parties, examples of which are:
Probate Registry or Court fees
Inheritance Tax
Valuation fees
Our costs outlined above do not include the following services:
The sale or transfer of the deceased’s property, any Deed of Variation, any personal tax advice to beneficiaries, advice on the deceased’s lifetime tax affairs and advice on Trusts under the Will. These matters will be the subject of a separate fee which we will discuss with you if required.
It is difficult to give an accurate estimate of the time it will take to complete the work for you but on average straightforward estates could be dealt with within 18 months.
Michael Culver, our Managing Director, is responsible for the overall supervision of the Firm.
Service Level Guarantee
At Culver Law, we strive to offer the very best client service and as such if you instruct us to act for you we provide you with a Service Level Guarantee. This means that, if you have any reason to be dissatisfied with the service we have provided, you have the right to reduce our invoiced fees by up to 25%.1
To invoke this fee reduction, the only requirements are that you:
Confirm the amount of the reduction you require (up to a maximum of 25%).
Explain why you feel the level of service we have provided in the relevant period has fallen short of your expectations.2
Recommend how our service could have been improved (so as to have avoided the fee reduction).3
Provide us with the answers to (1) to (3) above, by email, within 14 days of the date of the invoice in question.4
This guarantee in no way impacts on your ability to follow our complaints procedure should this be deemed necessary.
1We cannot apply the discount to any disbursements (third party payments) or expenses. 2Please note that your reason must be related to the service provided and it cannot be related to the cost charged, or the outcome. 3Please note that without a suggestion as to how the service can be improved in future we cannot apply the discount. 4Time will run from the moment the invoice is sent to you. Any replies received outside of this time will not qualify for the discount offered.