Executor and Funeral Costs
Discussion
I am presently involved in the will and funeral costs of an elderly female relative, the same who was single, retired school teacher, home owner, with a couple of savings accounts.
The will has yet to be read, with the executor being a local solicitor, who has initially quoted his fees of £300 per hour, estimating approximately 35 to 40 hours work, plus 1% fee of the selling price of the home/property, to cover costs for dealing with the sale of the same.
Together with funeral costs, the same amounts to approximately £16k being deducted from the deceased person's estate, which for the little work involves, seems to this person who started work on £5 per week, that the above charges are extortionate.
What are your thoughts, advice etc.
The will has yet to be read, with the executor being a local solicitor, who has initially quoted his fees of £300 per hour, estimating approximately 35 to 40 hours work, plus 1% fee of the selling price of the home/property, to cover costs for dealing with the sale of the same.
Together with funeral costs, the same amounts to approximately £16k being deducted from the deceased person's estate, which for the little work involves, seems to this person who started work on £5 per week, that the above charges are extortionate.
What are your thoughts, advice etc.
plasticpig said:
Find another solicitor. Unless your Mother was extremely wealthy and the inheritance involves an estate with entailed land or some other form of complex trust structure then £300 an hour is exorbitant.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ this 100% MIL was quoted something silly by her solicitor after FIL had passed on. BIL rang up to query it and was told that's the price, to which he replied get real and rang ound until he found a more realistic figure.
If the estate is straightforward then it is easy to do yourself, but if the solicitor is named in the will as executor you're stuffed, it's gravy all the way for him.
Any other executors named? They could pressure him to renounce, but he has to do so before acting in any capacity as executor.
Any other executors named? They could pressure him to renounce, but he has to do so before acting in any capacity as executor.
pteron said:
If the estate is straightforward then it is easy to do yourself, but if the solicitor is named in the will as executor you're stuffed, it's gravy all the way for him.
Any other executors named? They could pressure him to renounce, but he has to do so before acting in any capacity as executor.
Not necessarily. You can ask an executor to renounce themselves. They sign a renunciation document. and that frees someone else to take over as executor. I would point out to the solicitor that other Solicitors will do fixed price from around £1500 if there is a single property and no IHT involved and then ask him to justify his fees. Any other executors named? They could pressure him to renounce, but he has to do so before acting in any capacity as executor.
plasticpig said:
Not necessarily. You can ask an executor to renounce themselves. They sign a renunciation document. and that frees someone else to take over as executor. I would point out to the solicitor that other Solicitors will do fixed price from around £1500 if there is a single property and no IHT involved and then ask him to justify his fees.
Just going through this myself.
I and the solicitor are named as executor. I’ve done the iht online (nothing to pay). I started the probate online and then realised we are both named rather than just me.
Estate is simple, although there is a property to sell and funds to split between me and my brother.
Solicitors claims they need to do the whole thing - but I fail to to see what value they are adding.
They quoted £1800 fixed price - if that includes selling the house then I’m fine with it - but if that’s just to so iht (done) and probate - then I think it’s a rip off.
plasticpig said:
pteron said:
If the estate is straightforward then it is easy to do yourself, but if the solicitor is named in the will as executor you're stuffed, it's gravy all the way for him.
Any other executors named? They could pressure him to renounce, but he has to do so before acting in any capacity as executor.
Not necessarily. You can ask an executor to renounce themselves. They sign a renunciation document. and that frees someone else to take over as executor. I would point out to the solicitor that other Solicitors will do fixed price from around £1500 if there is a single property and no IHT involved and then ask him to justify his fees. Any other executors named? They could pressure him to renounce, but he has to do so before acting in any capacity as executor.
If he's the only executor named, it will get complicated - an 'interested party' must step up and do the job.
eliot said:
Just going through this myself.
I and the solicitor are named as executor. I’ve done the iht online (nothing to pay). I started the probate online and then realised we are both named rather than just me.
Estate is simple, although there is a property to sell and funds to split between me and my brother.
Solicitors claims they need to do the whole thing - but I fail to to see what value they are adding.
They quoted £1800 fixed price - if that includes selling the house then I’m fine with it - but if that’s just to so iht (done) and probate - then I think it’s a rip off.
IANAL and could be wrong but I think you can't have a professional (i.e. solicitor) and a private individual both apply for joint Probate - one of you will have to renounce or reserve power I believe. You have as much right to apply for probate as he does.I and the solicitor are named as executor. I’ve done the iht online (nothing to pay). I started the probate online and then realised we are both named rather than just me.
Estate is simple, although there is a property to sell and funds to split between me and my brother.
Solicitors claims they need to do the whole thing - but I fail to to see what value they are adding.
They quoted £1800 fixed price - if that includes selling the house then I’m fine with it - but if that’s just to so iht (done) and probate - then I think it’s a rip off.
Edited by alfie2244 on Friday 30th November 19:40
eliot said:
Just going through this myself.
I and the solicitor are named as executor. I’ve done the iht online (nothing to pay). I started the probate online and then realised we are both named rather than just me.
Estate is simple, although there is a property to sell and funds to split between me and my brother.
Solicitors claims they need to do the whole thing - but I fail to to see what value they are adding.
They quoted £1800 fixed price - if that includes selling the house then I’m fine with it - but if that’s just to so iht (done) and probate - then I think it’s a rip off.
So am I. I thought of doing it myself but there are a couple of family trusts involved so it was slightly more complicated than I was willing to take on.I and the solicitor are named as executor. I’ve done the iht online (nothing to pay). I started the probate online and then realised we are both named rather than just me.
Estate is simple, although there is a property to sell and funds to split between me and my brother.
Solicitors claims they need to do the whole thing - but I fail to to see what value they are adding.
They quoted £1800 fixed price - if that includes selling the house then I’m fine with it - but if that’s just to so iht (done) and probate - then I think it’s a rip off.
alfie2244 said:
IANAL and could be wrong but I think you can't have a professional (i.e. solicitor) and a private individual both apply for joint Probate - one of you will have to renounce or reserve power I believe. You have as much right to apply for probate as he does.
Right now the solicitor isn’tt returning my calls - despite calling and leaving messages three days on the trot after. Ive waited a week now for them to retrieve the will from their safe - how long is reasonable?Edited by alfie2244 on Friday 30th November 19:40
it’s causing me quite a bit of stress and making even more determined to avoid using them. Feels like i’m being held to ransom by them - as I can’t apply until i get the original will and ask them to renounce or reserve power. This is a new firm that has absorbed the original local solicitor in town who drew up the original will for my mum.
eliot said:
alfie2244 said:
IANAL and could be wrong but I think you can't have a professional (i.e. solicitor) and a private individual both apply for joint Probate - one of you will have to renounce or reserve power I believe. You have as much right to apply for probate as he does.
Right now the solicitor isn’tt returning my calls - despite calling and leaving messages three days on the trot after. Ive waited a week now for them to retrieve the will from their safe - how long is reasonable?Edited by alfie2244 on Friday 30th November 19:40
it’s causing me quite a bit of stress and making even more determined to avoid using them. Feels like i’m being held to ransom by them - as I can’t apply until i get the original will and ask them to renounce or reserve power. This is a new firm that has absorbed the original local solicitor in town who drew up the original will for my mum.
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