Fixed Price Probate Specialist

valueman1

Can anyone recommend a fixed price probate specialist? Ideally someone you have used personally? I’ve no idea if they would need to be solicitors or accountants? 

Marcon

valueman1 said:

Can anyone recommend a fixed price probate specialist? Ideally someone you have used personally? I’ve no idea if they would need to be solicitors or accountants? 

Fixed fees are normally based on a %age of the estate so may not be the best way to go, especially if the estate is high value.

What exactly do you need them to do? The fact you don't know if you need an accountant or a lawyer makes it a bit difficult to see what you are expecting, since probate is normally very much the province of lawyers. A STEP-qualified solicitor, or one who specialises in contentious probate, would normally be the recommendation, but I'm not sure that's what you are driving at here?

valueman1

The estate value is high so I was trying to avoid a % based fee.  Cordis Probate have a complex probate fixed fee of £1,080 for example. Co-op need more information before they quote so I suspect it will be linked to value of estates but I don’t know.

naedanger

valueman1 said:

The estate value is high so I was trying to avoid a % based fee.  Cordis Probate have a complex probate fixed fee of £1,080 for example. Co-op need more information before they quote so I suspect it will be linked to value of estates but I don’t know.

Are you clear what services you are wishing the specialist to undertake? From looking at Cordis Probate's website it seems their fee is only covering the probate application and not, for example data gathering. So you may still be doing most of the work.

Marcon

naedanger said:

valueman1 said:

The estate value is high so I was trying to avoid a % based fee.  Cordis Probate have a complex probate fixed fee of £1,080 for example. Co-op need more information before they quote so I suspect it will be linked to value of estates but I don’t know.

Are you clear what services you are wishing the specialist to undertake? 

Absolutely. Make sure you agree in writing exactly who is doing what at the outset and which services fall outside the fixed fee. 

This is probably helpful reading: https://www.which.co.uk/money/wills-and-probate/probate/probate-solicitors-a4p4b0d2yu4g

Flugelhorn

much of the probate application work is data gathering and if you decide to employ someone to do the application they will  still expect you to do loads of the work ie running around finding everything that is needed. They will also take a lot longer than if you do it yourself. If it is very complex then certainly make sure you know what you want them to do - this mainly falls into 2 parts 
1) applying for the probate and collecting the data
2) all of (1) + administering the estate ie acting as executor

crikaus

I remember fairwill doing fixed price probate application or a fixed full estate administration, and thought the charges were reasonable. 

A quick look on their website, probate from 595, and full estate administration from 1500, as always depending on complexity 

valueman1

@naedanger I would do the data gathering myself and appreciate there will be a lot of work.

Sea_Shell

You say the value of the estate is high, but is it complicated?

Have you downloaded and read through the IHT forms?

Is it the process you want to pass to someone, or the time, or both?

valueman1

@crikaus @Flugelhorn @Marcon is it possible for a layman to administer the estate, the main issue will be the sale of the former flat, from which half proceeds to go to my step siblings. I assume I will need their approval of the estate agent and put their names on the contract and before I can accept an offer? Then there are the costs of the flat pending sale, £2,500 per quarter service charge, utilities etc. Probably easiest if I pay and get them to repay me from proceeds of sale?

JGB1955

It is perfectly possible for a layman to administer the estate.

If you are sole executor you have full responsibility for administering the estate.  Only the executor(s) named on the Grant of Probate would be involved in the sale of the flat.  Although you may choose to involve beneficiaries in the process, it's not necessary.  You will need to obtain a valuation of the property before applying for probate.  Then you will need to gather in any cash sitting in bank accounts - that will need to be placed in an executors account (or, an account opened solely for that purpose) and can pay any ongoing expenses as they arise.  It's not over-complicated, just time consuming.