Probate fees- Socitors v probate brokers

EllenTerry

Hello all, I am new to the forums in regard to posting, although have got much useful information from them in the past!. I am the executor of my late father's will (and beneficiary). I did my late mother's probate which was fairly straight-forward but the second is fairly complex and not being confident with the minutiae, wanted to appoint a solicitor to act in the probate process to avoid pitfalls with HMRC etc. The solicitors and banks charge extremely high fees for this, around 4% of the estate and wondered if anyone could recommend a solicitor that does a fixed price, up-front fee for probate rather than x per-cent plus letters and phone calls + this and that...? I did find a probate brokers that seem okay and possibly the only ones operating, from an article in one of the 'better' newspapers. They shop around for the best solicitor for you but unsure and don't want to mention any names on here for fear of breaking forum rules or being seen to tout for business! Anyone's input or experience would be of great interest. Thanks all.

madbadrob

If you search these threads you will find a thread on the probate broker you wont mention if it is who I am thinking of. I have recently had to locate a solicitor to obtain and deal with obtaining letters of admin and dealing with the estate and whilst the costs were quite high they didnt charge a percentage of the estate. I would ring around all your local solicitors and ask them if they will do a fixed fee or a fee with no percentage.

With regards to probate firms who outsource their work you need to read the small print because whilst they say they will get a solicitor to do the job for say 600 pounds they then add a fee for referal onto that figure as well. They also want the money up front whereas a solicitor will take the money from the estate after finishing all the work.

Rob

getmore4less

Why not do it yourself and only pay for the bits you are not sure of?

Even if it has some complication I am sure people can guide you.

I think John P is the most experienced when it comes to some of the more complex stuff and he seems to have got through some extramly complex issues on his own.

what bit so you think you are going to have problems with?
why not pass them by people here.

HMRC are usualy ok with lay people and allthough cannot give advice can guide on the info required.

If the complex bit is self contained, that could be farmed out.

EllenTerry

Hello and thanks for the replies. I did have a scour through the forums but could not find anything regarding this probate broker (F.D's) and, apart from some satisfied customer reviews on their website, nothing adverse on the net. That is a good idea, to ring round the local solicitors for fixed fee quote and yes, these guys do to take an upfront fee of 10% or so of the fixed fee prior to proceeding. I did my Mum's return of estate (IHT 205/206) relatively easily and that was finalized over a year back. The problem I have with late father's is his gross estate is 15k over the 325,000 excepted estate limit and HMRC said would have to fill out IHT 400. Mum had some unused nil rate band to transfer over but did use some up on legacies. Also there are substantial care fees to list as debts. Not trying to put on the poor old me angle, but after nursing mum with cancer and dad with Alzheimers, then battling PCT/Social services, dealing with 2 bereavements in 2 years and handling one estate re probate/HMRC etc, plus I am moving, it has all left me rather drained and not confident or time rich to tackle things.

Savvy_Sue

Would it help to talk to an accountant / financial adviser who specialises in this kind of thing? It might put your mind at rest that it's just a matter of doing the sums ...

madbadrob

I understand your suffering. I would only advise that you go with what you are comfortable with. Myself I would use a solicitor I know and trust in your position not a probate firm even if it costs slightly more.

Rob

getmore4less

I can understand the need to just let someone else take on some of the load.

The IHT 400 + bits can be quite simple a lot of the forms are just things you have to do anyway to do a IHT205. as you did not have the 100% transferable band it would have needed IHT400 anyway.

If there is no IHT to pay with the transfer it may turn out not too bad as you can take your time with the other bits.


Anyone you can draft in to help? another beneficiary that would end up paying?

not saying do it just take a bit of time to think