Benefits or drawbacks to two people having probate

Diamond_Orchid

Initially my cousin was going to be sorting all our Uncle's finances out, he was happy to do so, and enlisted the services of our Uncle's solicitor.

Our uncle died without a will; there are three beneficiaries, myself, and my two cousins (who are brother and sister).

My cousin is, for reasons known entirely to himself, being increasingly awkward about the arrangements and probate is only just being applied for after 3 months.

I have offered to be another 'grant holder' for letters of administration, which I believe is probate. The view being to speed the process up, and also so I can actually know what is going on as the solicitor is not telling me a lot and just acting under my cousin's instruction.

I understand we would pay twice for probate - if we used the solicitor would we pay this at the end, out of the estate? And the amendments he is going to make to forms? Or I could apply directly to HMRC but would need to pay £215?

Has anyone else done this, and has it sped up or slowed down the process?

The solicitor hasn't yet sent any information out to me as distribution of assets, or confirmed my uncle's estate minus the house. All he has confirmed is that it isn't liable for IHT.

BJV

First sorry for your loss. 2nd sorry I am not a specialist but I do know that money can make nice people do not very nice things. I am sure that lots of experts will be on soon offering advice so good luck

TonyMMM

Letters of administration is the equivalent to probate in cases where there is no will.

As many estates are pretty simple to deal with a solicitor is really not required or can just be employed to assist with specific aspects of the process, but your cousin will know what the solicitor has been employed to do, and what charges have been agreed to.

Any fees would normally be paid from the estate before any distribution is made. Those fees will include the charges payable for the actual application plus the charges for the solicitor's time, and many also charge a % of the estate value.

If your cousin is the one applying for administration, and employing the solicitor, then why would the solicitor be updating you with information ? In effect you are just a beneficiary who will receive your share of the estate, under the laws of intestacy, once the process is complete.

Having more than one person involved in administering an estate is more likely to slow things down than speed things up in most cases.

getmore4less

You can ONLY have one grant. and there will only be one payment to the court(not HMRC).

With intestate those at the same level should apply together or indicate what they want to do eg. power reserved.

(although it is not clear how thorough the court is at checking this when the application is made).

If you want to be on the grant then takes steps to make that happen.

That way you will have to sign everything.

Savvy_Sue

Diamond_Orchid wrote: »

and probate is only just being applied for after 3 months.

That's really not such a long period. It takes time to gather all the information, and presumably you have no idea how many bank accounts or other financial holdings your uncle had.

Diamond_Orchid

Thanks, so it's best to just let him do it then?

How will I know how much the estate is worth and his fees, if I am not being told everything? Surely I have a right to know how big a dent his fees are going to make in the inheritance?

I seem to remember, for my Aunt, receiving a breakdown of the value of estate, plus all deductions I.e. Funeral, bills etc. Will I get this in this case? Is it a standard thing?

Also, when my cousin gets letters of admin, does that give him power to take money out of our uncles account?

Diamond_Orchid

Apparently it's a Grant of Administration, according to my cousin, but I think he has it wrong.

How will I know I will get exactly how much I should? I don't particularly trust my cousin, with his recent behaviour

ferger

Just to give you a perspective on the time it takes: My Dad died in late December. Estate included a property, some investments, some bank accounts. I could not have turned everything around any quicker - and I did not receive the grant until the end of April. It would have taken much longer if any of the parties I had to liaise with had been less efficient

Mojisola

Diamond_Orchid wrote: »

How will I know how much the estate is worth and his fees, if I am not being told everything?

You should get a set of the accounts when you receive your inheritance.

Surely I have a right to know how big a dent his fees are going to make in the inheritance?

No. If you aren't the executor/administrator, you don't have any rights to say how the estate is sorted out or how much is spent while doing so.

getmore4less

Lack of trust!

get yourself on the grant as a co-executor.

In any event if a residual benificiary you can request an "inventory and account" for the estate
if not forthcoming it may need to go to court

Diamond_Orchid

Mojisola wrote: »

No. If you aren't the executor/administrator, you don't have any rights to say how the estate is sorted out or how much is spent while doing so.

I got one with my aunts, which was a similar situation but our uncle sorted it. Same law firm.

Do you have to sign letters of administration in front of a solicitor?