How Much Would a Solicitor Charge if appointed as Executor of Will?

WiseOldBird_2

Hi - I know this is like asking how long is a piece of string, but some indication would be helpful. I have an elderly friend who was persuaded by her solicitor to appoint himself as one of her executors. I have told her this could prove expensive, and he could well end up with a lot of money that she would far rather went to her children. The other executor is her daughter. (He charged her about double the going rate to make her will - so I don't have a lot of confidence in him).

My friend just has a very simple will, main asset is her home, value about £140,000 and other monies in bonds, isa's, etc. come to about £20,000. All to be split between her four children. Anyone got any idea how much a solicitor (at today's rates) would charge to administer as executor? The reason none of the other children were named as executors was because they live abroad and it would be difficult for them to act.

Also - any idea of how much a solicitor would charge upon her death, to deal with probate, etc. would be useful, so she can make an informed decision.

Many thanks for ANY help anyone can give.

dzug1

Well let's say £150 to £200 an hour for work done.

Some would want to charge say 5% of the value of the estate either instead or maybe even as well.

It might still be worth it if the daughter is incapable of doing the job herself (it's quite easy really but some people get too upset to want to be bothered and some to put it bluntly are just too thick) or the others don't trust her.

Newly_retired

One solicitor I know charged a friend £800 just to make mirror wills. I persuaded the friend to do the Probate of his deceased wife's will himself rather than be fleeced by this solicitor.F ortunately the solicitor was not an executor.
My father had appointed a relative and a solicitor friend as joint executors. The solicitor friend was willing to renounce his role to save money for the estate - very generous.
So the answer to your question is anyone's guess. I would avoid a solicitor as executor if at all possible.

Savvy_Sue

dzug1 wrote: »

It might still be worth it if the daughter is incapable of doing the job herself (it's quite easy really but some people get too upset to want to be bothered and some to put it bluntly are just too thick) or the others don't trust her.

The thing to remember if a non-professional IS appointed as executor is that they can instruct a solicitor if they wish to. But you can shop round before you do ...

MrandMrsB

You could ask the Law Society for their "recommended rates".

dzug1

Savvy_Sue wrote: »

The thing to remember if a non-professional IS appointed as executor is that they can instruct a solicitor if they wish to. But you can shop round before you do ...

Quite right - but it can lead to accusations of it's her solicitor, we don't trust him

marvin

This is a quote given to do a very similar will

For (named solicitor removed) to act in his professional capacity as Executor and based on the information you have provided today his charges would be £1000 plus VAT and disbursements. The disbursements would be Court Fee £40, Settling Fee £10, Swear Fees £28.00, Royal Mail redirection £37.40 and if required Section 27 notice fee of £130 approx. This quotation does not include acting in the conveyance of the sale of the property. This would mean that we would contact DWP, banks, building society, utilities and local authorities etc and re route all correspondence to our address so that we deal with all incoming mail from here on in.

However due to complications in the will this has now grown to over £6000 and still going make sure the advice given on setting up the will is good and all should be fine.

WiseOldBird_2

Thanks for all the replies. I've also found on another website that some solicitors can charge a percentage of the estate - the average being 2%. That can add up to quite a lot when the sale of a house is involved. I think we're in a better position to decide now. Thanks again.

TonyMMM

About 3 years ago, I approached a solicitor for some probate work and was quoted the normal hourly charge for the work done (which they estimated for a very straighforward estate would total about £1200), PLUS 2% of the value of the estate.

Needless to say, I didn't take them up on the offer and acted as executor myself......

margaretclare

Is the solicitor being appointed joint executor with the daughter? Or is the solicitor only there as 'back-up' executor in case the daughter pre-deceases her mother and there is no other relative whom the mother wants to appoint?

dazguy

Last year I provided my lawyer with details of my estate and who were the beneficiaries. He said there was no fee for this service. There are still some very fair law practices in existence.
Scottish Law.