Complex Grant of Probate

[sunny505]

I am looking for some advice on fees charged by a solicitor for dealing with an estate. Basically my parents died with less than thirty days between them. There is no actual money (liquidity) in the estate but there are two properties involved. It is too complex and there are difficult issues involved that prevent us from doing the grant of probate ourselves. The solicitor is charging roughly 1.25 per cent which is coming out at approximately 15,000 plus VAT. There may also be an extra fee for a tax consultant. But like most people in Ireland at the moment, none of us (3 in the family) would have 5,000 plus to spare and it will be difficult to meet this cost. Selling, as you might imagine, is not really an option either in the current market conditions. Is it normally a percentage or is a flat fee ever applied in cases like this? Any information or thoughts appreciated.

 

[malzeit]

I am sorry for your loss.

I know where you are coming from. I'm 18 months in as an executor and sole beneficiary (?). The estate is mainly a house and some cash and some shares now worth s.f.a. Solicitor is charging 2% of the net estate.

The fees will be paid out of the sale proceeds of the family home. The value of the estate is decreasing by the month. House 6 months on market, now near accepting offer 50% down from original valuation on schedule of assets.

It's an expensive business! Can you raise any income from the properties by renting etc.? I can't unfortunately. Running second house is not cheap either.

I have also been covering the costs of financing a executor's bridging loan. You probably won't have to go this route. The loan was essential. Under EU law, a family company loan had to be cleared when funds on lien where frozen. Other costs have included income tax returns and the related accountancy fees. Cash in bank will clear this loan otherwise bank would have wanted a mortgage.

My advice is: (1) Keep to % base on price. (2) Tax advice is valuable and needed in the current climate when dealing with Revenue. You can get your own tax adviser and price them accordingly and as required. (3) I also feel executor expenses can be kept to a minimum when it's a family member handling the purse strings.

Take it all one day at a time and share your burden with those who you trust.

Hope this helps!

 

[murphaph]

Mate of mine was quoted €6k for probate. Told the solicitor it was too much. Solicitor said "I can do it for €4k. Mate told solicitor it was still too expensive. Solicitor settled on €2k. For a simple estate the probate office are a mine of information and very approachable. I wouldn't agree to any %age fees in this economy-offer the solicitor a flat fee of say 5k and be prepared to walk to the next one. Solicitors need to compete too-lots of them out there and the cash cow of conveyancing has all but dried up. Under no circumstamces accept 15k. No way.