Time and costs to obtain probate

BigYinUK

Hi all.

My missus is an executor to her father's estate along with a solictor.  She has just heard from him and apparently they are appointing another solicitor from the firm to do the work, which is probably OK, BUT they are saying that its going to take up to a year to obtain probate.

I have been an executor for both my father and mothers estates and although my father's was quite complicated and took over a year, my mum's probate IIRC was obtained fairly quickly.

Given that my missus's dad's finances are fairly simple, we're questioning why they are saying its going to take all this time?   They also want 3 percent+VAT to do the work, which seems on the high side.

His estate consists of 2 bank accounts, a Bond/ISA, and the proceeds from a property which was sold BEFORE he died but 1/2 the property was in a trust to the grand children.   Total value estate approx about £350k   His wife died before he did but didn't use any IHT allowance.

Can anyone comment as to whether what they are saying sounds reasonable or not?   £12.6k for doing the work seems high to me.


Regards

Savvy_Sue

She could ask the solicitor to renounce? As I understand it, they should not refuse to do so on an uncomplicated estate.

jcuurthht

we're questioning why they are saying its going to take all this time

It could take up to a year, but a simple estate could be approved in a few weeks. It costs £273 to apply.

You should do it yourself, the process is very straight forward and can be done online. If her father died after 1 Jan 2022, you likely won't even need to complete the inheritance tax forms.

https://www.gov.uk/applying-for-probate

Thrugelmir

Solicitors to protect themselves will place an advert in the London Gazette. Many people that DIY overlook the personal liability that executorship carries in their haste to liquidate and distribute the estate. Might not happen often but with the sums involved solicitors will be naturally cautious and aware of the impct on their professional indemnity insurance costs. 

Employing professionals is expensive thatr's the nature of the world. Hourly charge out rates exceeding 3 figures. Offices etc cost money to run. 

DancingBadger

£12.6k for doing the work seems high to me.

Yikes!   I obtained probate myself last year for an estate of a similar size, which was fairly straightforward.  It cost of the probate fee - £244, from memory, including extra copies of the certificate, but I think it's been increased this year.  If you're organised and ready to do a fair bit of reading, DIY probate can be very cost-effective.

Keep_pedalling

Savvy_Sue said:

She could ask the solicitor to renounce? As I understand it, they should not refuse to do so on an uncomplicated estate.

I would second that. They should agree to do that although they might make a charge to complete the pater work for renounciation.