Hello,
Recently an aunt died, leaving her estate between 3 nieces/nephews. The solicitor was the executor.
The total estate is valued at 505,000. (480000 house, 25000 in bank accs) less funeral exps = 500,000 approx
One nephew was left the house, the other two are to share the cash assests. As there is 25000 in cash, the two would expect 12500 each.
But the solicitor has filed with Probate that they will only get 7500 each.
i.e. his fee is 10000 and he is taking it from their share. and the nephew who got the house is therefore not being charged anything
Is this correct proceedure? Should the person getting the house not get a fee
And is a 10000 fee for a 500000 estate (2%) a reasoonable fee? For probate it seems excessive.
Thanks