PRICING

VAT

It is important to note that our fees are subject to Value Added Tax (VAT) which is charged at 20 percent. In addition, any disbursements incurred may be subject to VAT which is charged at 20 percent.

CONTACT US

Telephone number

01267 600321

and e-mail on

info@morganelis.co.uk

LASTING POWERS OF ATTORNEY (LPA)

FOR 1 LPA (Either Financial or Health)

£250.00 Plus VAT (£250.00 +£50.00(VAT) = £300.00 Total

FOR 2 LPA’s (Both Financial and Health)

£450.00 Plus VAT (£450.00 +£90.00(VAT) = £540.00 Total

For Couples

1 LPA Each (Either Financial or Health)

£500.00 Plus VAT (£500.00 + £100.00 (VAT) = £600.00 Total

2 LPA’s Each (Both Financial and Health)

£850.00 Plus VAT (£850.00 + £170.00 (VAT) = £1,020.00 Total

The above fees to not include the Registration Fee charged by the Office of the Public Guardian which are £82.00 for each LPA registered.

WILLS

Single Simple Will - £175.00 plus VAT (£175.00 +£35.00 (VAT) = £210.00 Total

This will entail meeting with you to take your full instructions of what you would like to say in your Will and provide the required advice upon your instructions. Draft your Will in accordance with your instructions and send your draft Will for your approval. Once approved a further meeting with you to sign your Will or if you prefer to send the Will to you with full signing instructions.

Mirror Simple Will - £250.00 plus VAT (£250.00 + £50.00 (VAT) =£300.00 Total

This will entail meeting with you and your spouse/partner to take your full instructions of what you would like to say in your Wills and provide the required advice upon your instructions. Draft your Wills in accordance with your instructions and send your draft Wills for your approval. Once approved a further meeting with you to sign your Wills or if you prefer to send the Wills to you with full signing instructions.

Life Interest Wills - £400.00 plus VAT (£400.00 + £80.00 (VAT) =£480.00 Total

This will entail meeting with you to take your full instructions to include discussing your assets (your estate) and providing the required advice upon your instructions. Drafting your Wills, drafting a life interest trust of property together with an advice letter detailing your full instructions and the advice provided at your initial meeting. Once the Wills and life interest trust is approved a further meeting would arrange for you to sign or if you prefer sending them out to you with full signing instructions.

PROBATE

Here at Morgan Elis, we have the knowledge and experience in dealing with a wide range of estates. We will guide you through the process from start to finish to minimise the stress at this difficult and emotional time. Our process is that when we are instructed to help deal the estate of their loved one, our duty is to assist and guide the Personal Representative in the correct procedure to administer the estate to avoid disputes.

The Key milestones in the Probate process involve the following:

An initial Meeting

We shall meet with the Personal Representative to discuss the contents of the Will and ensure that the Personal Representative clearly understands the terms and contents of the Will that has been made.

Collecting Information about the Estate

We shall collect all the information relating to the estate so that we have the full picture of the assets and liabilities the deceased had. This will include valuations of any property, land and any other assets together with obtaining all details for liabilities such as credit cards, loans etc. We will also require full details of the funeral costs, and any debts owed to any family members or friends. We envisage collecting this information should take around 1-2 months in a standard estate.

Once we have obtained all the assets and liabilities regarding the deceased estate, we will then be in a position to prepare the application for the Grant of Probate. The Personal Representative would be kept fully up to date with the progress and will be consulted on the necessary paperwork to check in that no assets or liabilities have been omitted from the estate, particularly if the relevant inheritance tax forms will be relevant to the matter and would need to be informed of any gifts made during the deceased lifetime. We will then be in a position to calculate the amount of Inheritance Tax (if any) that will be payable at this stage and the methods of how best to settle any such tax, if applicable.

Paying Liabilities and Collecting in the Assets

After the Personal Representative has approved the Estate Account (to include Inheritance tax account if applicable) and the probate application, then the application can be submitted to the Probate Registry. The average time on getting a Probate application approved is up to 16 weeks but can be longer due to backlogs of applications. Once the Grant of Probate has been processed and received the Personal Representatives will then have the authority to collect in all the assets, which may include life policies, bank balances and the sale or transfer of any property etc. Additionally, at this stage the estate accounts are prepared for the approval by the Personal Representative and beneficiaries. These accounts will set out the details of the assets and liabilities, to include any expenses such as legal and other professional costs incurred by the estate.

The Conclusion: Distributing the Estate

Once the estate accounts have been approved, we will then ensure that the estate will be distributed to the beneficiaries.

OUR FEES

What follows a typical example of our pricing structure in the Probate Department for work on an uncontested probate matter for Collecting information about the Estate, applying for the Grant, Collecting in and Distributing the assets where there is a valid Will and no Inheritance Tax Payable and…

There is one property
There are no more than 6 bank or building society accounts
There are no other intangible assets
There are up to 6 beneficiaries
There are no dispute between the beneficiaries on division of assets. If disputes do arise this is likely to lead to an increase in costs
There is no inheritance tax payable, and the executors do not need to submit a full account to the HMRC
There are no claims made against the estate

We anticipate that this will take between 9 and 16 hours of work and total costs are estimated at £2,500.00 - £5,000 plus VAT (£3,000 -£6,000 inclusive of Vat).

A further example of our pricing structure in the Probate Department for work on an uncontested probate matter like in the typical example as illustrated above, but where Inheritance Tax will become payable, we anticipate that this will take between 9 and 20 hours of work and total costs estimated at £2,500 -£7,000 plus VAT (£3,000 - £8,400 inclusive of VAT).

The typical structure examples of the work will remain the same where there is no valid Will save for ascertaining the administrators and beneficiaries and costs will depend on the work tailored this this specific work, which can be assessed upon initial instruction.

The exact cost will depend on the unique circumstances of the matter. By way of example, if there is one beneficiary and no property costs would be at the lower end of the scale and if there is a property and numerous bank accounts with multiple beneficiaries, then it will be at the higher end of the scale.

Typical Disbursements in a Probate matter

Probate Application fee of £300.00 plus £1.50 for each additional office copy of the Grant

Bankruptcy - only Land Charges Department searches (£2.00 per beneficiary)

Other disbursements include circa £350.00 to cover Statutory Notices with the London Gazette to protect against unexpected claims

Disbursements are costs related to your matter that are payable by third parties such as court fees and we handle the payment of the disbursements on your behalf to ensure a smoother process.

Potential additional costs

If the estate consists of any share holdings (stock and bonds) there is likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with. We can give you more of an accurate quote once we have more information. The costs and disbursements of dealing with the sale or transfer of any property in the estate is not included.

How long will this take?

On average, estates that fall within this range are dealt with within 8-12 months. Typically, obtaining the grant of probate takes up to 16 weeks following submission of the application to the Probate Registry. Collecting assets then follows, which can take between 8-12 weeks. The statutory notice period is 2 months. Once the assets have been collected and the statutory notice period has expired, we can then distribute the assets normally in 3-4 weeks if there is no potential inheritance claim.

We are also able to offer a fixed fee to apply for the Grant of Probate or Letters of Administration only without collecting in the assets and administering the estate. The Executor will then administer the estate.

To apply for Grant of Probate/Letters of Administration only (no inheritance tax payable completing IHT205)

£750.00 plus VAT (£750.00 + £150.00) = £950.00

To apply for the Grant of Probate /Letters of Administration only (inheritance tax payable completing IHT400)

£1,000.00 plus VAT (£1,000.00 +£200) =£1,200.00

The typical disbursements for a Probate matter as illustrated above are not included in the fixed fee and will be in addition to our fees for this work.

The fee earners at Morgan Elis have varying levels of experience and knowledge which can be applied to suit the needs of your unique matter. Each fee earner will charge at a difference hourly rate and the range of these rates vary from £134.00 plus VAT (£160.80) up to £272.00 plus VAT (£326.40) depending on the level of experience of the fee earner involved. The fee earner working on your case will charge at their hourly rate and record their time for undertaking the required work on your individual matter. Morgan Elis will base our charges on the time spent on your matter. For the utmost transparency, Morgan Elis divide an hour into ten blocks of six minutes to record the time spent on your individual matter. All our invoices are transparent, and you will see within the invoice sent to you our time recorded and the items of the work conducted.

For maximum transparency, we divide an hour into ten blocks of six minutes to record the time spent on your case. This breakdown is what you will see in our time records and on all the invoices we send you where the matter is quoted based on a time estimate rather than a fixed fee.

Residential Conveyancing

How long will my house purchase take?

Purchasing a home can be an exciting time and the first question you may ask yourself is, when can I move in? The length of the transaction can depend on a number of factors. Here at Morgan Elis, we will provide you with advice and full support at each and every stage. The average transaction takes between 8 -12 weeks. The speed of your transaction does depend on the parties involved in the property chain. Here at Morgan Elis we pride ourselves in providing an efficient service to ensure that all property transactions complete as swiftly as possible.

The key stages of the process

The precise stages involved in the purchase of your residential property will vary according to the individual circumstances. However, below is a guideline of the key stages in a conveyancing transaction:

Take your instructions and provide you with initial advice with our quote for fees and disbursements
Open your file and send out our initial papers for your completion and return
Check finances are in place to fund your purchase and contact lender’s solicitors if needed
Received and advise on contract documents
Carry out searches
Obtain further planning documentation if required
Make necessary enquiries of seller’s solicitor
Give you advice on all documents and information received
Go through conditions of mortgage with you
Send final contract to you for your signature
Agree completion date (Date from which you own the property)
Exchange contracts and notify you that this has happened
Arrange for all monies needed to be received from the lender and you
Complete purchase
Deal with payment of Stamp Duty /Land Tax
Deal with application to the Land Registry for registration as you as the new owner
Once registration has been completed a copy will be sent out to you confirming with our closing letter
Your file will then be closed.

Remortgaging your home?

Here at Morgan Elis, we can deal with the re-mortgage of your home and provide you with advice and support from start to finish.

The Key stages of the re-mortgage process

Below is a guideline of the key stages but not a precise as this will be dependent and tailored to your transaction:

Take your instructions and provide with initial advice with our quote for fees and disbursements
Open your file and send out our initial papers for your completion and return
Obtain a copy of the Title Deeds of your property and check new lenders requirements
Arrange for the new mortgage deed to be signed by you
Request a redemption figure from your existing lender
Arrange the drawdown of funds from your new mortgage
Complete the re-mortgage
Deal with application to the Land Registry for registration of the new mortgage
Once registration has been completed a copy will be sent out to you confirming with our closing letter
Your file will then be closed.

CONVEYANCING

Prices for Purchase of Property

Property Price Legal Fee VAT TOTAL

Up to £100,000.00 £750.00 £150.00 £900.00

£100,0001.00 - £200,000.00 £900.00 £180.00 £1,080.00

£200,001.00 - £300,000.00 £950.00 £190.00 £1,140.00

£300,001.00 - £400,000.00 £1,000.00 £200.00 £1,200.00

£400,001.00 - £500,000.00 £1,100.00 £220.00 £1,320.00

£500,001.00 - £750,000.00 £1,200.00 £240.00 £1,440.00

£750,001.00 - £1,000,000.00 £1,550.00 £310.00 £1,860.00

Over £1,000,001.00 £1,750.00 £350.00 £2,100.00

Bank Transfer Fee £25.00 £5.00 £30.00

Leasehold Title Supplement £100.00 £20.00 £120.00

Commercial Property Supplement £100.00 £20.00 £120.00

Electronic File Storage £5.00 £0.00 £5.00

Purchase of Property Disbursements

Searches Cost VAT TOTAL

Local Authority Search £66.75 £13.35 £80.10

Commercial £129.00 £25.80 £154.80

Water & Drainage Search £42.29 £8.46 £50.75

Environmental Search £64.50 £12.90 £77.40

Coal Mining Search – if required £50.25 £10.05 £60.13

Land Registry Priority Search £4.20 £0.00 £4.20

Bankruptcy Search £3.20 per name

ID Search £16.00 per name

AP1 Completion Fee (Purchase, Remortgage, Transfer) £6.00 - £6.00

Stamp Duty Land Tax Return (England) £6.00 - £6.00

Land Registry Fees – electronic app Cost VAT TOTAL

0 - £80,000.00 £20.00 - £20.00

£80,001.00 - £100,000.00 £40.00 - £40.00

£100,001.00 - £200,000.00 £100.00 - £100.00

£200,001.00 - £500,000.00 £150.00 - £150.00

£500,001.00 - £1,000,000.00 £295.00 - £295.00

£1,000,001.00 and above £500.00 - £500.00

Prices for Sale of Property

Property Price Legal Fees VAT TOTAL