Immoral actions by Llyods bank asking 27000 GBP

jabba42

My father died recently and my mother has been dealing with transferring accounts etc for probate.

llyods suggested they could do "everything on my mother's behalf" transferring the estate for 27000 pounds, representing 2.something % of the estate value.

Lucky my mum still has her marbles and told them to FO. They called back today that they could now do it for the bargain price of 16000 pounds.

Now I know that people can charge what they want and these prices are published but I find this highly immoral when someone is going through the pain of death and could be vulnerable or not have much business acumen if their other half dealt with business matters. She is doing herself for next to nothing.

Another banker mental disgust point has been etched on my memory today.

Yorkshireman99

As you say immoral. Good for your mum telling them where to go.

HappyMJ

That's business. Your mother was right to politely decline the offer.

jonesMUFCforever

How complicated is the estate?

A solicitor might be slightly cheaper but IMO will not be quicker.

TonyMMM

2% of the estate value wouldn't be unusual for a solicitor to charge ( plus an hour rate on top)..... so may well be a similar amount in total.

jabba42

Anyone with half a brain would get the work done by the hour or a fixed price on a larger estate. It is admistrative work, basically some isas and a few bank accounts to be moved.

Surprised so many here think this offer was normal.Did I post on the vested interest solicitors thread by accident? Solicitors come close to the banksters on my mental disgust scale also.

74jax

jabba42 wrote: »

Anyone with half a brain would get the work done by the hour or a fixed price on a larger estate. It is admistrative work, basically some isas and a few bank accounts to be moved.

Surprised so many here think this offer was normal.Did I post on the vested interest solicitors thread by accident? Solicitors come close to the banksters on my mental disgust scale also.

Someone going though the situation, may have less than half a brain. My mum was married for 55yrs. With dad for 60yrs. We are not nearly three months from when he died and she's still in shock.

nwc389

Actually the call will probably not have been from lloyds themselves but from a company that specialises in estate management that is either part of the lloyds group or with a reciprocal arrangement with lloyds . The company will be like chorus law / the probate service which have a long running thread dedicated to the misery they have put people through .
Jabba42 the size of the estate will have triggered a referral to these sharks, a few bank accounts are simple to administer and you don't need this kind of sales referral at such a sensitive time.

Goldiegirl

jabba42 wrote: »

Lucky my mum still has her marbles and told them to FO.

.

A polite no thank you normally suffices in these situations.

They offered a service, which wasn't required - it can be declined politely,,it's not necessary to be rude about it.

jabba42

Goldiegirl wrote: »

A polite no thank you normally suffices in these situations.

They offered a service, which wasn't required - it can be declined politely,,it's not necessary to be rude about it.

Metaphorical fo. Sure she would have politely declined.

TonyMMM

jabba42 wrote: »

Anyone with half a brain would get the work done by the hour or a fixed price on a larger estate. It is admistrative work, basically some isas and a few bank accounts to be moved.

Surprised so many here think this offer was normal.Did I post on the vested interest solicitors thread by accident? Solicitors come close to the banksters on my mental disgust scale also.

Not suggesting for a moment it is right or justifiable, but it is not an unusual % for professional probate services to charge, and is always subject to negotiation ....

It just confirms that if possible you should to do it yourself. Probate isn't that difficult in most cases, and you can always employ a solicitor to deal just with any specific parts of the process if required.