extortionate solicitors fees?

edited 30 November -1 at 1:00AM in Deaths, Funerals & Probate
27 replies 3.2K views
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  • loubel wrote: »
    In honesty, £5K of fees for solicitor executors is about what I'd expect for a small estate. Because they've provided an itemised account of time spent, their hourly rate is pretty reasonable and their total fee matches their original estimate, I suspect you will struggle to argue their fees.

    They have added a value charge on top of that though which might be arguable. Although they are accepted as a legitimate charge by solicitor executors they must still be reasonable taking into account their hourly rate and overall fee. As a % the value element is quite high (approx 3.5% by my calculation). Was it disclosed in their original letter discussing fees?

    hi thanks for the reply it wasn't 5k it was almost £7500. £2500 over their estimate. The value added charge was in their original letter.
  • loubelloubel Forumite
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    it wasn't 5k it was almost £7500. £2500 over their estimate. The value added charge was in their original letter.

    Are you sure? The invoice you have posted shows an interim bill of £4,200 plus vat and costs and a final invoice of £800 plus vat, costs and their value fee. I cannot see the additional £2,500 you mention. The total administrative expenses is shown as just under £7,500, but that's not just the solicitor fees - solicitor's fees are nearly always quoted excluding vat and costs.

    Is your complaint still with the ombudsman?
  • madbadrobmadbadrob Forumite
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    Like Loubel I dont see anything wrong with those accounts. It seems their prices are inline with other solicitors out there. This is why I would never use a solicitor for administrating an estate unless they were doing it on a fixed fee basis.

    Rob
  • Kayalana99Kayalana99 Forumite
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    Sounds like you can't do anything about these fee's then!

    On the other side of the coin though maybe you would have a really good case on the fact they auctioned of the items without your consent.

    Either on the fact they have emotional vaule...or the fact that they were worth more selling them yourself then what you got for them.
    People don't know what they want until you show them.
  • loubel wrote: »
    Are you sure? The invoice you have posted shows an interim bill of £4,200 plus vat and costs and a final invoice of £800 plus vat, costs and their value fee. I cannot see the additional £2,500 you mention. The total administrative expenses is shown as just under £7,500, but that's not just the solicitor fees - solicitor's fees are nearly always quoted excluding vat and costs.

    Is your complaint still with the ombudsman?

    I see your point, I still feel as if I have been robbed. I was left 19k, and I only get to keep less than 5k.
    Perhaps I should just let it go, its making me ill just thinking about it all the time. My complaint is still with the ombudsmen, but I dont think I'm going to pursue it.
    Thank you all for your help.:)
  • loubel wrote: »
    They have added a value charge on top of that though which might be arguable. Although they are accepted as a legitimate charge by solicitor executors they must still be reasonable taking into account their hourly rate and overall fee. As a % the value element is quite high (approx 3.5% by my calculation). Was it disclosed in their original letter discussing fees?
    Sorry, I overlooked that part of your post.
    In their original letter it mentioned that they would charge 1% of the gross (pre-tax) value of the estate.
  • loubelloubel Forumite
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    Sorry, I overlooked that part of your post.
    In their original letter it mentioned that they would charge 1% of the gross (pre-tax) value of the estate.

    Ok well, unless my maths is wrong, they have charged more than that so you could probably argue that that bit should be reduced.

    But do try not to dwell on it too much if you can. See what the ombudsman comes back with and then try to put it behind you.
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