Wind up estate Solicitor or me?

Peco141

Following my late mother’s passing should I as executor attempt to contact Bank to close down and cancel direct debits and Pension companies to wind up the estate to keep lawyers fees to a minimum?

If so would any potential savings and bonds be released to me to then equally share with siblings in accordance with the Will or would the solicitor receive the monies to ensure equal distribution to siblings is adhered to?

Reason I ask is I went to the solicitor today who seemed keen to do as much as possible to ease the pressure on me, however I have since been advised that the more they do the more I will be charged.

Or am I easier just letting the solicitor deal with it all as they will need to contact sibling to inform them what they are receiving?

I stupidly didn’t even ask what the legal fees would come to.

Yorkshireman99

Peco141 wrote: »

Following my late mother’s passing should I as executor attempt to contact Bank to close down and cancel direct debits and Pension companies to wind up the estate to keep lawyers fees to a minimum?

If so would any potential savings and bonds be released to me to then equally share with siblings in accordance with the Will or would the solicitor receive the monies to ensure equal distribution to siblings is adhered to?

Reason I ask is I went to the solicitor today who seemed keen to do as much as possible to ease the pressure on me, however I have since been advised that the more they do the more I will be charged.

Or am I easier just letting the solicitor deal with it all as they will need to contact sibling to inform them what they are receiving?

I stupidly didn’t even ask what the legal fees would come to.

You should be able to DIY it and save yourself a pile of money. What is the rough value of the estate?

Peco141

£100k house which will need to be sold.
Roughly £10k in savings which will need to be used to pay for funeral.

It gets slightly complicated in that one siblings has only been left legal entitlement to movable asset and another a smaller percentage of the house.

I could be easier letting the solicitor deal with it all but don’t really want a lengthy legal fee bill if I could do some of it myself.

Peco141

I think I will contact the lawyer tomorrow to ask for a breakdown of costs.

Just curious if I do contact the bank myself for example would the money be released to me to divide up or the solicitor?

Yorkshireman99

Peco141 wrote: »

I think I will contact the lawyer tomorrow to ask for a breakdown of costs.

Just curious if I do contact the bank myself for example would the money be released to me to divide up or the solicitor?

Are you in Scotland?

Peco141

Yes Yorkshireman.

Yorkshireman99

Peco141 wrote: »

Yes Yorkshireman.

In which case I am not able to help as I know little about the system in Scotland. Somebody else my be able to help.

Keep_pedalling

Peco141 wrote: »

I think I will contact the lawyer tomorrow to ask for a breakdown of costs.

Just curious if I do contact the bank myself for example would the money be released to me to divide up or the solicitor?

You should inform the bank ASAP, his accounts will then be frozen so nothing more gets paid out. Funeral costs can be paid directly by the bank to the FD, but I hope they cost no where near £10k.

Scottish inheritance law is a bit more complex than English law, so engaging a solicitor might be wise, but don't hand the whole thing over to them, just use them to assist and keep control yourself.

Peco141

Is there a way for me to find out if the mortgage was paid off without involving a solicitor?

Linton

The executor should inform the bank as soon as possible after the death. The bank will freeze the account stopping all payments. Depending on the amount in the account and the policy of the particular bank, the money may be released immediately to the executor or the bank will insist on probate. On request, the bank will release money for the funeral and possibly other costs.

Other people who should be informed as soon as possible include pension companies, utilities, DWP etc. There are lists on the net. Have you registered the death? In England you will be told about a scheme whereby all government and council authorities are informed by filling in one form. I guess this also operates in Scotland.

These tasks wouldn’t normally be undertaken by a solicitor hired to close the estate.

Keep_pedalling

Peco141 wrote: »

Is there a way for me to find out if the mortgage was paid off without involving a solicitor?

Check to title deeds. If there is an outstanding mortgage it will show there.

https://www.ros.gov.uk/services/copy-deeds