Clever Solicitor's costs!

thorsoak

Jarndyce -v- Jarndyce comes to mind!

Sammie_

Mattygroves2 wrote: »

if they aren't working for you then you are a bit stuffed. All you can really do is curse the deceased for making them executors and trustees in the first instance.

Best bet is to get the Trustees replaced by lay people and then at least you've got rid of the cost of them operating as Trustees.

They won't be operating as executors and trustees at the same time - they should split the cost as some will be chargeable to the estate and some to the trust which was presumably created by the will.

Yes, bless him, my elderly Dad (perfectly sane in mind) did go to the solicitor to do his will and obviously took his advice on the Trustees and executors.. Yes this same solicitor did the will. Dad always was ready to take 'good' advice!


I have no idea what the Trustees/executors are charging, they nor the solicitor will say!

What was the DOV and why was it done what tax will it save.

How much extra has that cost.

That is a lot of work for what sounds like a simple estate.

DOV was to change house to children 100% to house to spouse 40% children 60%.


House in his name, spouse sold hers and invested it, Dad bought house outright himself knowing it was the family home. Mum died, this was Dad's second wife.


It cost us children a lot having to employ barristers for advice. That wasn't taken from the estate though and I guess the Solicitor has charged for drafting the Deed. Now another Deed is required because the Trustees both want to retire!


The capital in the estate was around £13.5K.. Not much left now.

Sammie_

thorsoak wrote: »

Jarndyce -v- Jarndyce comes to mind!

Yes, it is almost there now. I suppose he will have to stop charging in a minute because there will be no capital left.. Then I wonder what he will do!

getmore4less

Sammie_ wrote: »

DOV was to change house to children 100% to house to spouse 40% children 60%.
.

What tax was saved?
Unless there is a tax benefit gifts often work just as well and cost very little when there is part property involved, nothing if just assets.

What's in the trust if you each own part of the house and there is nothing much else left?

konark

I thought you couldn't do a DOV to children's legacies, unless children were adults, if you see what I mean. Why did you 'children' agree wife could have a fat slice?

Executors, trustees, beneficiaries, there's only one person a solicitor's working for- first person, singular!

securityguy

"I thought you couldn't do a DOV to children's legacies, unless children were adults,"

You can if their situation is unambiguously improved.

Keep_pedalling

securityguy wrote: »

"I thought you couldn't do a DOV to children's legacies, unless children were adults,"

You can if their situation is unambiguously improved.

In this case the children are giving up some of their inheritance, although I think we are also dealing with the grown up children of the deceased rather than minors.

Keep_pedalling

This sounds like one of those cases where everyone would have been better off if there was no will at all. Everything goes to the spouse and legal expenses are non existent.

We not only need wills, we need up to date ones that are not over complicated trying to avoid tax issues that no longer exist.