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    • sevenonine
    • By sevenonine 2nd Nov 17, 12:16 PM
    • 118 Posts
    • 7 Thanks
    sevenonine
    There haven't been any opinions on this website since 18 October 17 so I wonder if anyone will comment/advise on my special problem.

    I'm single, no dependants, few friends willing to take on the work involved in executing my will. The only choice in this respect is a young man I've chosen in previous wills I've written, based on a legal product from a legal company. The young man, who lives nearby, does ring me from time to time to check on my health (I'm 82) but I don't necessarily trust him not to make off with some of my household goods.

    An AGE UK representative who visited me told me the numerous tasks an executor would be faced with and asked me how much I would be prepared to pay. I said £5,000 but he indicated that was not enough...£10,000? No came the reply. As other posters above have indicated, there is no limit to what the institutions, eg banks and charities are prepared to pay themselves.

    Are there any other institutions, such as a Government ombudsman who may help?
    • Mojisola
    • By Mojisola 2nd Nov 17, 12:44 PM
    • 28,831 Posts
    • 73,634 Thanks
    Mojisola
    I'm single, no dependants, few friends willing to take on the work involved in executing my will.
    Originally posted by sevenonine
    Who are your beneficiaries?

    If you name a couple of them as executors, they can chose whether to do the work themselves or to employ a solicitor.
    • sevenonine
    • By sevenonine 4th Nov 17, 1:10 PM
    • 118 Posts
    • 7 Thanks
    sevenonine
    appointing executor(s)
    Who are your beneficiaries? If you name a couple of them as executors, they can chose whether to do the work themselves or to employ a solicitor.
    Originally posted by Mojisola
    Thank you for your response. Unfortunately, one of the executors is the young man I mentioned, for the same reasons. I would rather have someone from an agency/institution (not a bank or legal firm) who will appoint their own person and quote a fee (not a percentage). Also is it necessary for the executor to know, in advance, the total value of my estate? That will give them carte blanche to quote the fee.
    • Mojisola
    • By Mojisola 4th Nov 17, 1:39 PM
    • 28,831 Posts
    • 73,634 Thanks
    Mojisola
    The young man, who lives nearby, does ring me from time to time to check on my health (I'm 82) but I don't necessarily trust him not to make off with some of my household goods.
    Originally posted by sevenonine
    Unfortunately, one of the executors is the young man I mentioned, for the same reasons.
    Originally posted by sevenonine
    You have to be able to trust your executors!

    I'm surprised at the comments of the AgeUK rep. I know of two fairly recent estates that were dealt with by solicitors and neither came anywhere near to £5000 - both included a property, bank accounts, insurances and managing the DWP.

    Have you considered leaving set amounts/percentages to your beneficiaries and making a charity the residual beneficiary and also the executor? The charity would be careful that the executor's expenses were kept to a minimum because every pound spent on the work would mean a pound less for the charity.
    • skatyp
    • By skatyp 8th Nov 17, 3:11 PM
    • 1 Posts
    • 0 Thanks
    skatyp
    Updating Will
    I have spent some time looking through this thread but wondered if anyone could comment on my situation. I am single with no dependants or obvious beneficiaries, although I have extended family and friends who are included in my Will. My main beneficiary is my cousin, who is also the Executor of my LPAs. I have been wanting to update my Will and researched several avenues including an apparent year round free service run by a solicitor, with whom I had a full appointment and invitation to ask any more questions and have never had a bill yet. My financial advisor has been suspicious of this because it seems too good to be true. He did mention in passing that I could use a solicitor as an executor (with no pressure) which seemed like a good idea to release my cousin and friend from the work when the day comes. Now I am reading that this may not be a good idea and have the following reply from a local solicitor I have used for other things such as LPAs and lease renewal recently:

    "We purely charge based on the time spent , there is no extra charge for taking on the responsibility of executor nor do we charge a percentage of the estate ( unlike the banks and non- solicitor will writing firms).

    Following Law Society (SRA) recommendations several years ago most firms of solicitors switched to a pure time basis- if they do charge a fixed fee or percentage then this has to be reflected in a lower hourly rate."

    Does this seem credible? Their charge for updating the Will would be £400 plus VAT, which seems higher than some mentioned here.
    Last edited by skatyp; 08-11-2017 at 3:13 PM. Reason: spelling mistake of Their
    • dugidee
    • By dugidee 7th Dec 17, 6:54 PM
    • 4 Posts
    • 0 Thanks
    dugidee
    Solicitor's identity verification requirement for writing a will
    We, the wife and myself, are attempting to have mirror wills written, quite straightforward and below the IHT threshold,, and are hoping to have them produced professionally by a local solicitor.
    We have, however, come up against a quite unexpected obstacle, in that the solicitor we approached is insisting on photocopying our passports and driving licences, citing this as a requirement of money laundering regulations, and as being directed by the Law Society. Whilst we are quite happy to produce these for verification of identity, we are concerned about the personal security implications of them being photocopied. I guess this is probably down to having previously had our credit card cloned, and watching programmes on the box reflecting the current high level of identity fraud! Looks like our only option will be a DIY effort?
    Any advice would be very welcome.
    • Browntoa
    • By Browntoa 7th Dec 17, 6:57 PM
    • 32,444 Posts
    • 38,080 Thanks
    Browntoa
    It's a solicitor , they are used to dealing with sensitive documents
    I'm the Board Guide of the Referrers ,Telephones, Pensions , Shop Don't drop ,over 50's and Discount Code boards which means I volunteer to help get your forum questions answered and keep the forum runnning smoothly .However, please remember, board guides don't read every post. If you spot an inappropriate or illegal post please report it to forumteam@moneysavingexpert.com Any views are mine and not the official line of MoneySavingExpert.
    • Yorkshireman99
    • By Yorkshireman99 7th Dec 17, 8:18 PM
    • 3,691 Posts
    • 3,011 Thanks
    Yorkshireman99
    We, the wife and myself, are attempting to have mirror wills written, quite straightforward and below the IHT threshold,, and are hoping to have them produced professionally by a local solicitor.
    We have, however, come up against a quite unexpected obstacle, in that the solicitor we approached is insisting on photocopying our passports and driving licences, citing this as a requirement of money laundering regulations, and as being directed by the Law Society. Whilst we are quite happy to produce these for verification of identity, we are concerned about the personal security implications of them being photocopied. I guess this is probably down to having previously had our credit card cloned, and watching programmes on the box reflecting the current high level of identity fraud! Looks like our only option will be a DIY effort?
    Any advice would be very welcome.
    Originally posted by dugidee
    The solicitor is obliged to ensure they know the identity of their clients. It is quite normal and your concerns are groundless.
    • dugidee
    • By dugidee 7th Dec 17, 10:17 PM
    • 4 Posts
    • 0 Thanks
    dugidee
    Thanks for your response, but I did state that we sre quite happy for the solicitor to view our passports, in order to verify identity, just not to photocopy them. Not all solicitors are honest, nor their staff.
    • Yorkshireman99
    • By Yorkshireman99 7th Dec 17, 11:27 PM
    • 3,691 Posts
    • 3,011 Thanks
    Yorkshireman99
    Thanks for your response, but I did state that we sre quite happy for the solicitor to view our passports, in order to verify identity, just not to photocopy them. Not all solicitors are honest, nor their staff.
    Originally posted by dugidee
    I repeat yoiur fears are groundless. A photocopy of either of the documents will be of no real use to anyone unscrupulous. You are likely to cause far more problem from trying ot do DIY a will than by letting the solicitor do the copies.
    Last edited by Yorkshireman99; 07-12-2017 at 11:36 PM.
    • Keep pedalling
    • By Keep pedalling 8th Dec 17, 12:21 AM
    • 4,524 Posts
    • 4,958 Thanks
    Keep pedalling
    I repeat yoiur fears are groundless. A photocopy of either of the documents will be of no real use to anyone unscrupulous. You are likely to cause far more problem from trying ot do DIY a will than by letting the solicitor do the copies.
    Originally posted by Yorkshireman99
    You are trusting someone to draw up one of the most important documents you will ever produce, yet don’t trust them with a copy of your passport! It not enough for them to check that you are who you say, they need documented proof that they have done so.

    Making a DIY will is many magnitudes more risky than letting a solicitor take a copy of your will, and it would be a foolish move to let paranoia dictate You do such a thing.
    • Savvy_Sue
    • By Savvy_Sue 8th Dec 17, 1:29 AM
    • 38,057 Posts
    • 34,555 Thanks
    Savvy_Sue
    Agree with the above: I have never understood the reluctance to allow a photocopy of passport etc to be made. I have to check Right to Work at work, AND retain proof that I have done so. Easiest way is to take a copy of the photo page in the passport. If you need to produce your passport, a photocopy won't do - so how can the photocopy be misused?
    Still knitting!
    Completed: 1 adult cardigan, 3 baby jumpers, 3 shawls, 1 sweat band, 3 pairs baby bootees,
    1 Wise Man Knitivity figure + 1 sheep, 2 pairs socks, 2 hats and 1 balaclava for seamen ...
    Current projects: another balaclava, must find a mohair cardigan pattern ...
    • dugidee
    • By dugidee 2nd Jan 18, 6:30 PM
    • 4 Posts
    • 0 Thanks
    dugidee
    Thanks to responders..... but on to the next conundrum!
    Thanks to those who have given advice......am going to go with the flow, and agree to the copying. Thought it would now be straightforward, but apparently not!
    Have had a preliminary chat with two local solicitors, but have been given differing advice!
    One recommends, quite strongly, firstly changing ownership of our house to tenants in common, in order to avoid possible future care home costs. Putting this to the second solicitor we approached, we were told that this would constitute 'deliberate deprivation of assets', and was not recommended! Why is life never simple?
    • DCFC79
    • By DCFC79 9th Feb 18, 3:42 PM
    • 30,926 Posts
    • 19,560 Thanks
    DCFC79
    Ive been asked to do a will for a relative, its very simple what it needs to say, anyone have any tips ?
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • Savvy_Sue
    • By Savvy_Sue 10th Feb 18, 12:27 AM
    • 38,057 Posts
    • 34,555 Thanks
    Savvy_Sue
    By 'do a will', do you mean write it for them? If that's the case, the only advice must be to advise them to visit a solicitor and pay for the job to be done properly.
    Still knitting!
    Completed: 1 adult cardigan, 3 baby jumpers, 3 shawls, 1 sweat band, 3 pairs baby bootees,
    1 Wise Man Knitivity figure + 1 sheep, 2 pairs socks, 2 hats and 1 balaclava for seamen ...
    Current projects: another balaclava, must find a mohair cardigan pattern ...
    • DCFC79
    • By DCFC79 12th Feb 18, 10:08 AM
    • 30,926 Posts
    • 19,560 Thanks
    DCFC79
    By 'do a will', do you mean write it for them? If that's the case, the only advice must be to advise them to visit a solicitor and pay for the job to be done properly.
    Originally posted by Savvy_Sue
    Thanks Sue

    Yes I aas asked to use a template but I cant for the life of me find 1, well I found a template but it went on for pages and seemed OTT. Its a simple will I need eg on death of person Y any money goes to person X and if that person dies before the other sibling then it all goes to the sibling.

    Do you know what woukd be a fair price to pay to do something like that ?
    Last edited by DCFC79; 12-02-2018 at 10:18 AM.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • Optimist
    • By Optimist 12th Feb 18, 10:54 AM
    • 4,417 Posts
    • 5,481 Thanks
    Optimist
    Thanks Sue

    Yes I aas asked to use a template but I cant for the life of me find 1, well I found a template but it went on for pages and seemed OTT. Its a simple will I need eg on death of person Y any money goes to person X and if that person dies before the other sibling then it all goes to the sibling.

    Do you know what woukd be a fair price to pay to do something like that ?
    Originally posted by DCFC79
    WH Smith do a basic DIY will kit, but on your head be it and the usual advice is to see a solicitor as they are the experts.

    You would need to ask your local solicitors for the price they would charge as it will vary. For what you require expect it to be between £100 to £200 excluding VAT.
    "The whole problem with the world is that fools and fanatics are always so certain of themselves, but wiser people so full of doubts."

    Bertrand Russell. British author, mathematician, & philosopher (1872 - 1970)
    • Savvy_Sue
    • By Savvy_Sue 12th Feb 18, 9:56 PM
    • 38,057 Posts
    • 34,555 Thanks
    Savvy_Sue
    WH Smith do a basic DIY will kit, but on your head be it and the usual advice is to see a solicitor as they are the experts.

    You would need to ask your local solicitors for the price they would charge as it will vary. For what you require expect it to be between £100 to £200 excluding VAT.
    Originally posted by Optimist
    But for that you ALSO get the peace of mind which comes from knowing that person won't leave an invalid will behind which maybe you will have to sort out ...
    Still knitting!
    Completed: 1 adult cardigan, 3 baby jumpers, 3 shawls, 1 sweat band, 3 pairs baby bootees,
    1 Wise Man Knitivity figure + 1 sheep, 2 pairs socks, 2 hats and 1 balaclava for seamen ...
    Current projects: another balaclava, must find a mohair cardigan pattern ...
    • Lost old lady
    • By Lost old lady 13th Feb 18, 1:37 PM
    • 3 Posts
    • 0 Thanks
    Lost old lady
    Lost old lady
    My husband is only relative and executor to his late uncles will. The estate (mainly a house) is to be sold and divided amongst the beneficiaries, (in declared percentages) three of whom are charities. When we collected the original will, the solicitor advised we contact the relevant charities when we have an offer on the house to let them know. We were shocked to find out that these three can (and have been known to) reply that it is not enough!!!
    As executor and only relative does my husband have any control?
    • Keep pedalling
    • By Keep pedalling 13th Feb 18, 2:34 PM
    • 4,524 Posts
    • 4,958 Thanks
    Keep pedalling
    As executor your husband has a duty to maximise the amount the beneficiaries receive and that should be the case for all beneficiaries whether they are charities or not. Charities also have s duty to maximise revenues so they are going to particularly concerned that the property is sold for a fair price. If for instance the house was valued at £250k for probate and was sold by the executor for £200k they would be right to question it and they have the right to pursue an executor for any losses.

    He should get a professional valuation on the house, one done by a RICS surveyor not an estate agent. If offers are received at that value or over then it should not be a problem, but if it fails to sell easily no offers below that value should be accepted without the prior permission of the beneficiaries unless you want to get sued by them.
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