Estae Executorship

[bricro]

I want to find out what high street banks charge for being executors/trustees
of an estate.

[Richard1966]

There is unlikely to be a fixed fee as it will depend on the amount of work involved. In fact you will probably find banks won't deal with this at all and will refer you to a solicitor. In which case you will be looking at £150- £200 per hour

[Barmaid]

In my experience it IS a fixed fee - but normally calculated on a percentage basis of the net value of the estate.

[ubasses]

Banks do have Executorship Departments which are traditionally cheaper than solicitors. The fee will be a percentage of the Estate, this can be adjusted up or down if it is particularly easy or complicated, but you will be given a good estimate at the outset. All I can say is HSBC did my Mother in Laws Will they were excellent even getting us tax rebates for the last few years.

[Peter Pedant]

I would say
do it yourself
it is not that difficult
with a lot of accurate advice available on the internet

[bednobs]

not all that easy to do it yourself when you are dead

[DocHH]

I have been the Executor for 8 Estates, 7 which had wills and one which was intestate. In each case the procedure was straightforward and needed nothing more than the Executor being organised. The people at the Probate Office were very sympathetic and gave excellent guidance. I have also been co-Executor for another Estate, valued at £150,000,00, where the other co-Executor preferred to use a Solicitor to do the paper-work. OK, there was a fee of a few hundred pounds incurred in doing the legal stuff in respect of selling a flat, but the total fees were over £6,000.00. Do it yourself, so simple!

[johnk]

Banks are very expensive for this sort of thing and charge a high percentage than anyone else and do little for it, go somewhere else.

[bricro]

Thank-you everyone. I like the DIY answers the best!!!!!!!!!!!!
I do appreciate what you say........... food for thought.

All the best, Bricro

[themas]

In ascendiing order of cost:

1. Executor is family member or trusted friend & does it him/herself - if satisfied competent to do it correctly;

2. As 1, but instruct a solicitor (get competitive quotes) for whatever parts of the work the executor does not feel competent to deal with;

3. Appoint solicitor as executor - can cause problems apart from the cost, as solicitor is then in the driving seat & beneficiaries can become frustrated at the time taken & cost & lack of information about what is happening;

4. Appoint bank as executor - this is the last resort if there really is no alternative!