A waiting game

ProStuart

I posted something a few days ago about the probate process when the solicitors are the executors and how long that could take.


A follow up question for the gang here....


It's been 5 weeks now since I handed all documentation onto the solicitors. Next week I will be doing the final house clearance / deep clean so it's effectively ready to be sold.


Where do I go from here? Just sit and wait? It feels so alien to me that in order to find anything out its going to be charged to the estate & I know that's the last thing my mum would have wanted.


Thanks


Stu

getmore4less

Have you discussed the sale with the executors?

They could let you deal with the process like choose EA fees and marketing strategy, and deal with them on a day to day.

Or they could take over.

The later will cost more.

The timings of active marketing need to tie in with the grant being available, you can start early but risk finding an impatient buyer and not being ready.

TonyMMM

The previous answers told you a solicitor will take at least 6 months, even for a simple estate, and it could easily be more like 12.

There is little else you can do but wait, and respond to any questions the executor may ask.

Sadly, you may end up doing a lot of leg work for them anyway and that may not be reflected in the solicitors bill. Have you checked what charging structure they use .... some work just on an hourly rate, which will be high, but some also take a % of the estate value on top ?

ProStuart

I've not discussed the sale as I know every phone call/letter is throwaway money. All I know in the original meeting with them they said they would be selling it as they are the executors.


They've said they will be using an hourly rate.


So disappointing in todays age that this is allowed to go on. If any other type of company said "sorry this is going to take a long time because we have lots of other clients", they wouldn't be in business very long. The company would either have to take on less clients, expand their staff to support more clients or fall apart.

ProStuart

Oh sorry - let me clarify about their charging structure.... on the initial meeting with them they said it would be charged hourly and may cost anywhere between 3 and 5k - this is based on an estate that I imagine will be around the £300k mark maximum.

TonyMMM

ProStuart wrote: »

So disappointing in todays age that this is allowed to go on. If any other type of company said "sorry this is going to take a long time because we have lots of other clients", they wouldn't be in business very long. The company would either have to take on less clients, expand their staff to support more clients or fall apart.

That's not the reason it takes time - it is because as professional executors they will insist on taking the full time necessary to protect themselves from any claims from unknown creditors who may come forward.

If you were dealing with the estate yourself, you could choose to take that risk ..... they won't.

£3k-£5k for a £300k estate isn't a high quote (their hourly rate will probably be £150+) some firms would charge a lot more than that.

Yorkshireman99

ProStuart wrote: »

I've not discussed the sale as I know every phone call/letter is throwaway money. All I know in the original meeting with them they said they would be selling it as they are the executors.


They've said they will be using an hourly rate.


So disappointing in todays age that this is allowed to go on. If any other type of company said "sorry this is going to take a long time because we have lots of other clients", they wouldn't be in business very long. The company would either have to take on less clients, expand their staff to support more clients or fall apart.

Two things to remember. Solicitors are bound by very strict rules that oblige them to take a long time. First they have to wait six months to ensure no claim is made by a dependent relative. Secondly they then have to publish statutory notices so that any unknown debts can be notified to them. Creditors have two months to submit details after thenotices are published. If they don.t do these things they are guilty of professional negligence. There are no short cuts to these waits.

AnotherJoe

ProStuart wrote: »

I posted something a few days ago about the probate process when the solicitors are the executors and how long that could take.

A follow up question for the gang here....

It's been 5 weeks now since I handed all documentation onto the solicitors. Next week I will be doing the final house clearance / deep clean so it's effectively ready to be sold.

Where do I go from here? Just sit and wait? It feels so alien to me that in order to find anything out its going to be charged to the estate & I know that's the last thing my mum would have wanted.

Thanks

Stu

For any other Mums or Dads reading, dont appoint solicitors as executors unless you have no choice.

Stu, you said that the executors (solicitors) said they will sell it. So, i dont think you can even start the ball rolling there, AFAICS you'll have no authority to sell it or correspond with estate agents for example. Basically all you can do is keep it tidy, relatively warm and dont expect anything to happen this side of September.

Flugelhorn

We were very determined to keep solicitors out of our wills as executors - only ones we came across (at that time) were hopeless anyway.

Have left the DCs a letter with the will explaining that they can get a solicitor to help if they want but advised which ones NOT to use and also now, I am glad to say, one who does seem reliable. Felt giving the option to use a solicitor might have been handy if they had still been v young (DS was named as executor and his sister's guardian from his 18th birthday) Have also listed bank accounts, insurance policies, pension numbers and contact details, premium bonds etc + name and contact details of helpful and eminently sensible relative who offered to help them if they ever needed it.