Solicitor Charges

[northj]

I have recently visited a solicitor with the view to them handling the estate of my late father. When outlining their costs, it mentions that they also take a share of the estate value (1% I think). Is this normal practice?

[Sludge]

Yes. 1 - 1.5% p.a. is normal.

[Miss Zippy]

Do you mean they 'also' take a 1% share of the estate in addition to the hourly rate you'd be paying them? Or is 1% of the value of the estate the only payment (with  disbursements on top)?  If the latter, it seems reasonable.  If the former, then I would 'phone/visit at least two other solicitors' firms to obtain an estimate of fees for comparison. They are offering you a service so don't be afraid to shop around for the best quote.

[dondons]

have you thought of doing it yourself?? I did all the sorting out of my mother's estate. Admittedly it was straight forward even after her will was declared invalid (after a problem with the witnessing of the will decades before ) and having to go for Letters of Administration . There is lots of help and advice available ( just like doing your own conveyancing when buying a house). It will save a packet  -Banks and Solicitors make a LOT of money doing this and they usually give it to a youngster/trainee to do. As long as it's not too complicated.- ie loads of shares/ properties  /family who get ratty  etc I'd have a go - and only pay the solicitors to do  the  really difficult bits. They don't have to do it all! they charge by the hour and a percentage of the amount left so if you can't face doing  all of it yourself ,the secret is to do the legwork yourself and NEGOTIATE over the rest.