Executor Expenses

Owain_Moneysaver

Yorkshireman99 wrote: »

The executor is allowed to pay a qualified professional for help. Difficult to see how youcan have saved them £70K in fees.

Compared to paying a solicitor to carry out the work, presumably. It sounds like the OP has been acting as a clerk to the executor rather than taking on the execution of the estate in a professional capacity.

konark

I'm sure the OP has done an excellent job but surely the executor has some responsibility for the quality of the work of those they hire, particularly if they are not professionals in the field..e.g Hiring an unqualified builder to make property repairs could wipe thousands off the value of the estate, as could hiring a 'man & van' house clearer who values and clears a houseful of precious antiques for just £100.

Yorkshireman99

Owain_Moneysaver wrote: »

Compared to paying a solicitor to carry out the work, presumably. It sounds like the OP has been acting as a clerk to the executor rather than taking on the execution of the estate in a professional capacity.

£70k to do probate? That would be a huge amount for a solicitor to charge. There is more to this story than we have been told. Quite why an executor should hire an unqualified person to do the work escapes me.

GDB2222

Yorkshireman99 wrote: »

£70k to do probate? That would be a huge amount for a solicitor to charge. There is more to this story than we have been told. Quite why an executor should hire an unqualified person to do the work escapes me.

£70k in saved fees is entirely possible on what the OP describes as a substantial estate - that could run into millions, lots of millions.

An experienced book keeper could be exactly the sort of person you would need for much of the work, rather than a chartered accountant.

Yorkshireman99

GDB2222 wrote: »

£70k in saved fees is entirely possible on what the OP describes as a substantial estate - that could run into millions, lots of millions.

An experienced book keeper could be exactly the sort of person you would need for much of the work, rather than a chartered accountant.

I take your point but who in their right mind would employ an unqualified person to deal with an estate of that size?

GDB2222

Yorkshireman99 wrote: »

I take your point but who in their right mind would employ an unqualified person to deal with an estate of that size?

You don't need a string of qualifications to pay the gardener or the window cleaner. It sounds like the OP has done more than that, but not necessarily more than you would expect a competent book keeper to do. Reconciling accounts, for example, is exactly what you'd expect a book keeper to do extremely well.

Yorkshireman99

GDB2222 wrote: »

You don't need a string of qualifications to pay the gardener or the window cleaner. It sounds like the OP has done more than that, but not necessarily more than you would expect a competent book keeper to do. Reconciling accounts, for example, is exactly what you'd expect a book keeper to do extremely well.

Including negotiating with HMR&C? That would require some professional knowledge of IHT law. Not something for an unqualified person. The whole scheme sounds very dubious to me.

GDB2222

Yorkshireman99 wrote: »

Including negotiating with HMR&C? That would require some professional knowledge of IHT law. Not something for an unqualified person. The whole scheme sounds very dubious to me.

But did he say he did that? Not clear.

Yorkshireman99

GDB2222 wrote: »

But did he say he did that? Not clear.

Yes! re read the OP's original post.

Brynsam

Yorkshireman99 wrote: »

Yes! re read the OP's original post.

No - reread the OP's original post. The reference is to 'dealing with HMRC' - not the same thing at all.

Also wholly irrelevant to the question being asked, which has now been answered correctly, several times, so why bother with all this side chat and speculation? Let the executor answer to the beneficiary.