It makes sense to use a probate solicitor if your loved one died without a will, there are doubts about the will’s validity and many other situations. Because different probate solicitors have various fees, it’s in your best interest to shop around to find the best ones that meet your needs. While you may use a solicitor that drew your will or kept it, you can also look around to find another solicitor. This article explains what you should look for before hiring a probate solicitor.
Rough estimate for their services
Most probate specialists may not give you an exact estimate of their fees that is binding, rather they give you a general estimate. Unfortunately, such general estimates tend to be adjusted as the work progresses. As a result, you may have to pay the specialists higher fees than initially planned.
The good news is KingsGuard probate solicitors have to determine everything involved before they accept the task. This means they give you a detailed questionnaire so that you can provide all the information you want to be done. This is the only way they can give you a clear picture of the work involved and charge you accordingly. When this due process is done, probate solicitors can offer you a final bill that has minor differences from their quote.
You need to pay some fees called disbursement costs as part of having probate. This includes application fees for probate and certifying documents. In some estate cases, it’s usually important to sell off your assets like property while administering your estate.
Therefore, probate solicitors might come up with conveyancing and valuation fees which are extra fees to the quote they gave you. Because of this, you should always ask for a total amount of disbursement fees and how much you can pay for such additional services.
While working, many probate specialists might ask for specific payments at various stages. Some of the payments you make relate to their services up to that point, but others concern disbursement fees.
Hence, before you hire a probate solicitor, ensure that they explain to you all their due dates and how much you will be supposed to pay. Besides, if VAT is not included in the quote, make sure you factor it in because it can make a huge difference to the final bill.
Banks as co-executors
When dealing with a deceased estate where a bank drew up the will and was also appointed as co-executor, things can be quite different. In most cases, banks may ask to work as a professional executor and do the probate process.
Therefore, the banks usually tend to charge you a certain percentage of the value of the property for offering their services. With some estates, this can translate to tons of money which you can pay for service fees. The best way is to ask the bank not to act as an executor. However, if the bank doesn’t want to step down, you may have to ask the court to remove it.