Would you take a fee/larger for time taken to do probate?

Marcon

yellowzest said:

I am being advised by friends that I should take a fee/larger cut for my time and energy to do this from the estate. Is this something you would or have done?

Which just goes to show what rubbish advice friends can give. Meaning well while not having a clue about the relevant bit of law never helped anyone.

yellowzest

Thanks for the link @xylophone
Thinking maybe I should take some indemnity insurance out too (I think I’m doing it all right but mistakes can unwittingly happen)

Mickey666

Deleted_User said:

You're not able to charge for your time . . . .

Yes, I've heard that as well.  Is it a legal thing?  But even so, how can it work in practice if two people agree something between them and one ends up paying the other as agreed, how can the law intervene?

xylophone

Yes, I've heard that as well.  Is it a legal thing?  But even so, how can it work in practice if two people agree something between them and one ends up paying the other as agreed, how can the law intervene?

See link in previous - clearly, if the beneficiaries or even a beneficiary thinks that the executor should receive a present for doing all the work, there is nothing preventing them /him dipping into their/his own pocket (s)/portion of inheritance to provide same.

Marcon

Mickey666 said:

Deleted_User said:

You're not able to charge for your time . . . .

Yes, I've heard that as well.  Is it a legal thing?  But even so, how can it work in practice if two people agree something between them and one ends up paying the other as agreed, how can the law intervene?

Yes, it is indeed 'a legal thing'. People are at liberty to agree whatever they want between them, but any payment has to come out of the payer's share of the estate unless all those negatively impacted by the agreement sign a Deed of Variation. That's why it is so important for anyone making a will to specify that their executors can charge for their time and effort, if that's what the testator wants. The position is different with professional executors, although again this needs to be set out in the will that they can charge.

TW1234

If one person is doing the probate for no reward, the other beneficiaries should recognise this by providing a gratuity from their own pockets if they have any decency.

MoneySeeker1

TW1234 said:

If one person is doing the probate for no reward, the other beneficiaries should recognise this by providing a gratuity from their own pockets if they have any decency.

That is making the assumption that it's a fair Will (ie exactly in accordance with standard societal expectations and the laws of intestacy). 

A noticeable proportion of Wills are unfair Wills one way or another and we have no way of knowing whether the particular Will concerned is one of the fair ones or one of the unfair ones.

As said - OP can "ask" (not "tell") the other beneficiaries whether they will agree to them using this as an income stream for themselves or no. If it's one of the unfair Wills - it's highly unlikely they'd agree. It's not necessarily they'd agree even if it's a fair one.

"Asking" would involve telling the other beneficiaries the costs (and providing the proof!!) of what a solicitor would charge or accepting their choice of solicitor (not OP's choice) and then the other beneficiaries have full possession of the facts and can make an informed decision as to whether they will agree or no.

Mickey666

Marcon said:

Mickey666 said:

Deleted_User said:

You're not able to charge for your time . . . .

Yes, I've heard that as well.  Is it a legal thing?  But even so, how can it work in practice if two people agree something between them and one ends up paying the other as agreed, how can the law intervene?

Yes, it is indeed 'a legal thing'. People are at liberty to agree whatever they want between them, but any payment has to come out of the payer's share of the estate unless all those negatively impacted by the agreement sign a Deed of Variation. That's why it is so important for anyone making a will to specify that their executors can charge for their time and effort, if that's what the testator wants. The position is different with professional executors, although again this needs to be set out in the will that they can charge.

Ah, so an amateur can charge for their time but it can't be paid out of the proceeds of the estate unless all the beneficiaries agree via a DoD.  That makes more sense.  I couldn't understand how any law could prevent an essentially private agreement.

Mojisola

An executor can claim legitimate expenses - make sure a record of these is kept, with evidence where possible.

thepurplepixie

TW1234 said:

If one person is doing the probate for no reward, the other beneficiaries should recognise this by providing a gratuity from their own pockets if they have any decency.

I agree and the same with the work with a LPA.  I have one for an elderly relative, other family members will be there with their hands out when the time comes.  Some haven't visited her for years, the idea that they would travel for meetings with Social Workers, doctors, OTs is just laughable but I can imagine the screams of "It's not fair." if I suggested I received something for my time.  Fortunately I'm retired but if I was working it would have been hugely difficult.