Barclays to sort probate?

J0hnJ0hn

Hello there

I have a question i hope someone can advise me on.
My mother sadly passed away very recently and on her will she has put my older brother and aunt as executors to her will.

My aunt died about 4 years ago so that just leaves my brother to sort the will.

Yesterday he told me that he asked barclays bank to do the probate as he just hasnt the time to do it all in his own.

Barclays have said the fee will come to £5000 including VAT. No percentage on assets. My mothers estate is valued at £600000 mainly her home.
There is no TAX to pay because of the Nil-rate of my father(deceased) being transferred over and the house is coming to myself and brother.

My problem is that i have heard and read that using the banks charge a fortune and i am worried there is hidden costs that they have not explained. He did say that there will be 3rd party fees like court costs, oath reading, copies of death certificate etc.

Does anyone have any experience of using barclays or have any advice? My brother has 2 weeks in which he can cancel.

Thank you.

sleepymans

Well.....are you, for example, willing to take on all the work and responsibility?
I think your brother could transfer the responsibility to you??? (not sure, you'd need to check?)

Margot123

If no one has the time to do the administration, then the fee divided by the total number of beneficiaries may not be too much considering the estate is of relatively high value.

You must be prepared to wait for a professional to complete administration as they tend to drag their heels. I've known some not even start until a year has passed from Grant of Probate, to ensure any outstanding debts have been paid.

Voyager2002

The fee is reasonable so long as they do the job properly. I suggest you look for some on-line reviews to assess how likely that is...

You might consider engaging a solicitor, perhaps the same solicitor who drew up the Will (who will therefore be familiar with all the circumstances and might be keen to maintain a relationship with the family). The cost-saving is likely to be small change, but improved service (that is, avoiding expensive mistakes and very long delays) could be far more important to you.

Yorkshireman99

Tell him to cancel and either you will do the donkey work or get a quote from a solicitor. Barclays will add their own fees as well as the solicitor they get to act. Even if you need a bit of help you can do it for under £1K

J0hnJ0hn

I have said i would fill out all the forms and do the leg work for him but he has said its easier for both of us if he leaves it to someone who knows what they are doing.

I agree that the fee of £5000 is not high but worried these 3rd party fees will soon mount up.

Ive tried looking for reviews in this matter and only seem to find old negative stories from 2009 about how they charged £30000 in fees which included a fix rate plus %.

TonyMMM

He is the sole executor, so it is his decision.

But you can do it far cheaper and quicker yourselves (it isn't very difficult).

If he does insist on employing a professional, then cheaper options than Barclays would be available.....

The "3rd party costs" are the same whoever does it (probate fee, oath swearing etc), and presumably you have enough copies of the death certificate from when you registered.

J0hnJ0hn

I know it is his decision at the end of the day.
We are still waiting for the death certificate so we can register the death so will make sure we get lots of copies.

I just dont want there to be a hefty bill at the end of it as he thinks it will not cost more then £6000 after 3rd party fees.

TonyMMM

If the death hasn't even been registered yet I would tell your brother to slow down ......dealing with the estate can wait for, there is no need to be rushing into expensive decisions.

J0hnJ0hn

Ive told my brother this but he justs wants to get everything done. I really dont mind doing all the leg work or at least go to a solicitors instead.

I dont want him making any mistakes because he is rushing into things, thats why i have asked for advice. If barclays are good to use then he can just leave it with them to deal with otherwise i could ask him to find someone else.

Yorkshireman99

Barclays will pass it out to a solicitor so their fees will add to the cost. Whoever does it make sure the fees are based on time spent not a percentage of the estate value.