Using a solicitor as a executor.

The_Economist

Can anyone give me any pros and cons please for using a solicitor as a executor of a will.

mountainofdebt

I would imagine the major disadvantage would be the cost.

As for advantages, you otherwise will be asking someone, who maybe hasn't the time to commit to dealing with the necessary paperwork. Also it keeps the emotion out of dealing with the estate - especially if there is likely to be a family disagreement..

Hopefully as well you'd be employing someone who knew what they were doing.

datostar

Average cost of using a solicitor to obtain probate = £800. Executor doing it himself/herself £100 (Probate Fee).
Investigate solicitor costs very thoroughly before designating one as executor. Alternatively, if you must use one, designate someone else (can be a beneficiary) as joint executor to keep an eye on them and take on some of the routine work.
Another alternative - lay executor(s) take matters up to Grant of Probate then engage solicitor for one-off complications if necessary.
If a very large estate, business or trusts involved or foreign assets then you may well need a solicitor.

Madmel

When my great uncle died, my father was named executor along with a solicitor. The solicitor did bog all, sat on files for months and charged something in the region of £3000 for a couple of letters.

My parents were so incensed that they changed their wills and advised grandparents and other great aunts & uncles not to name a solicitor. They armed themselves with the Which guide to probate (sorry, I can't remember the exact name but it is published by Which and is very objective) and then as the older generation passed away, they administered the various estates themselves.

One tip I remember was to get 6 registered copies of the death certificate and number them lightly on the back. We had a chart which showed which organisation had which copy at any time then as they came back, they could be ticked off and sent off to the next one.

My own mum's financial affairs were quite complex, but my dad, sister and I did all the work ourselves and some 13 years on, nobody has complained!

Savvy_Sue

Having just got probate for my dad's will, I'd say that for an uncomplicated estate it's not worth paying a solicitor IF you have someone with half a brain to act as executor, BUT it does take a bit of time.

I'm joint executor with my brother, we live a way away from each other and from where Dad lived, and it's taken a while to get things to this stage. Brother has gone through the filing system gathering information, we shared out the job of taking death certificates into the various banks, he did the first draft of the probate and IHT forms, after the appointment at the Probate office I've sent the grant off to the various banks and now I'm sending out the cheques as the money comes in! (I like that bit of the job!)

All of those things have to happen, and if you've appointed a solicitor and they have to trawl through the filing system (assuming the deceased left a 'system') then it is going to get pricey, but they might ask family to do that anyway.

When my mum dies, it's going to take a lot more work, because there will be a house to clear and sell, and we might have to pay some IHT.

We have had a couple of meetings with an accountant specialising in Estate work which have been useful: if I felt the need to appoint a professional I think I'd rather use him than a solicitor!

So datostar's suggestion is worth bearing in mind: do the easy part, and then consider using a professional if there are complications.

But you have to have someone fairly organised as executor, and someone willing to act. None of my siblings wanted the job when my parents made their wills! And I was only willing if I had my brother's help, because he's done this before, with a more complicated will!

Baggysdad

Might be worth tuning in to Panorama on BBC1 next Monday evening before appointing a solicitor/bank/accountant/willwriter as an executor.

Anyone who has already appointed such a person should definitely tune in.

Dajumika

Hi, I have never made a will but please, please, please follow this advice. DO NOT APPOINT A SOLICITOR AS EITHER SOLE OR JOINT EXECUTOR. MY mother did this and I've spent the last 6 months in dispute. I am not an executor so apparently the solicitor has the right to withhold all cost information from me. And yes you guessed it, the costs are high! If you appoint someone close to you as executor they can shop around for the best priced solicitor when you die, avoiding hefty percentage fees. Two further bits of advice: Look up Final Duties (company) and watch Panorama BBC1 tonight.

Mojisola

The_Economist wrote: »

Can anyone give me any pros and cons please for using a solicitor as a executor of a will.

Some of the cons -
https://forums.moneysavingexpert.com/discussion/2650515