Late mothers estate

crescent678

A sheriff in a scottish court signed an application to be appointed of my late mothers estate,{28th sept}the next step will be to prepare an inventory of estate with a view to completing an application for confirmation and return of estate information,

thereafter it will be necessary to lodge an application for caution. Caution is effectively insurance,

this is a summary of a letter i received today and i wanted to know if anyone knows how much i the insurance deducts for thereself and how long the whole process takes before i get what is mine, the lawyer is charging £150 per hour and now the insurance company will want fees.

Many thanks to all that can help me.

s12s

The Bond of Caution cost depends on the value of the estate. It is paid by the solicitor usually and will be covered by the estate proceeds. If there are no funds in the estate and its a property that is being transferred rather than sold then usual to ask for costs to be covered upfront. Otherwise its absorbed by the firm until funds are realised.

Bond costs a minimum of £150 but thats for below £20k. Its costly so another reason for doing a Will.