Off topic - intenstacy and inheritance rules ( if anyone might know)

[chris French]

In message , sweetheart writes

Fees for that will be a few thousand (mostly estate agents, assuming you use one - about 1 - 1.5% of the selling price. Conveyance will be fixed price deal for a few hundred.)

Depending on the condition of the house, you could spend something on it I guess to make it more saleable. But probably easier to price it to sell quicker and forgo bit of money.

This has no legal standing, so is up to you and your conscience. But I would imagine you would like to carry out her wishes.

You are being way to negative about this. Costs, even if you engaged a solicitor to deal with it all on a % basis are surely going to come in at under 10%, it seems that there will probably be no IHT to pay . That just leaves what you need to pay for the charitable contributions.

But it's something you can probably deal with yourself, a relative did this and it seemed ok, though a fair bit of paperwork

[Tabby]

As the executor, with no-one else standing to inherit, you can do as you choose with the entire estate. You need sell or give nothing.

NT

[Tabby]

What do you think you need a solicitor for? The process isnt hard, you just need someone to explain it, and uk.legal.moderated and uk.d-i-y can do that.

If you do get one I'd shop around, =A3200 an hour is steep.

NT

[Tabby]

I dont see a need for a solicitor unless things get complex. From what the OP's said so far it sounds like a simple estate. If in responsoe to the national death announcement someone comes forward claiming the estate, or a good chunk of it, that will change promptly.

Yes, upto a point. The lowest value stuff, ie general house contents, is only worth what one can get for it, and that's normally close to nothing from a house clearance company. Its market value that counts, ie what you could sell it for, not what it cost.

Let a charity have it, freecycle what's left if youre not in a big rush.

the 'winding up' aspect is optional, its your property if you're executor and sole inheritor, and you can simply move in.

NT

[RJS]

Almost finished dealing with my Aunt's estate. It was valued at just under the IHT threshold, involved only cash and investments so no inconvenient house to deal with. I persuaded my brother to reserve his right as additional executor on the basis that he lives in Australia. Officer at probate office was laughable and clearly didn't understand how to take an oath. Wasn't interested in the evidence that I had prepared in support of my application - they can decline to grant probate to the applicant if they think that you will not administer the estate properly. I appointed the probate department of my wife's firm to handle the tax returns and paid IIRC about =A31,000 for all of their work. It's a fairly frustrating and drawn out task for which scrupulous record keeping is absolutely essential.

I said that I have almost finished dealing with the estate because there is a bill of =A313.97 due to 1363 - now absorbed by TalkTalk - which TalkTalk can't get their heads around, despite hem sending me a bill for the =A313.97!!!! Don't ever try dealing with TalkTalk billing unless you have a spare lifetime to waste.

Incidentally, I was absolutely adamant that my parents should appoint professional executors to handle their estates as they have a complicated set of trusts to manage the estate of whoever dies first. They originally wanted my brother and me to be executors but having dealt with the very simple estate of my aunt I knew that I could not trust him to act properly over my parents estate and I did not want to act on my own as this would expose me to claims by him that I was not acting fairly. Brothers!! The cost of a solicitor acting in a large estate is minimal by comparison with the whole and, don't forget, someone whom you might (hopefully) have been very fond of had to die for you to receive your inheritance. I know which I would rather have out of my Aunt or my inheritance from her (and it was not insignificant).

Richard

[Tabby]

vk9$j24$ [e-mail]...

This and tnp's previous post are just confused. Its a simple process, and from what you've said you'll get to keep 100% with no costs to pay.

If you do decide to let a solicitor handle it, you should be able to get one to do so for about =A31,000. If they want daft money, or they want to be the executor, run away!

NT

[The Natural Philosopher]

messagenews:ia0vk9$j24$ [e-mail]...

It is if there is a will.

If not I would certainly get advice at least..just an hours chat.

And from the tone of the posts, she may not want to DIY it.

Agreed.

[Tabby]

It is without one too, as long as there arent complications with inheritance or executorship, and it sounds clear there arent.

Yes,

The OP does need to get letters of administration, failing to do so isnt a realistic option in this case.

Solicitors are business people, if youre not happy with what they want to do or for how much, call another one and tell them what you want. They work for you, and compete for your custom.

NT

[jgharston]

...

[Roger Mills]

It certainly sounds that way - unless you had any other brothers and/or sisters who are dead but had children who are still alive - i.e. your (and your late sister's) nieces and nephews

In the unlikely event that any IHT is due, gifts to registered charity are paid gross, and deducted from the estate *before* the tax bill is calculated. So charitable giving can actually *reduce* the amount of tax due.

[newshound]

You will have to get it valued, though. Note that you need a "Valuation for Probate" (basically what you might get from selling it, and this is going to be significantly lower than an Insurance Valuation, i.e. what it would cost to replace).

Assuming you will have some furniture, etc. to sell, look for a reputable local auctioneer and be straight with them. Provided you are going to put a significant part of the estate through them, they will probably give you a free "Valuation for probate" for everything. No-one likes paying unnecessary tax and a good auctioneer will know what they, and you, can get away with with the taxman.

[Andy Champ]

Sweetheart,

I've read through this and have a few things for you.

First, my condolences on your loss.

Second, you don't have to sell anything. Not even the house. If you're correct and you are the sole inheritor you could even move in to it, and sell your existing house to pay any tax bill. (Though it does sound as though there will be no tax bill)

Third, I suggest you ask Age Concern or a similar organisation for recommendations on local probate specialists. Don't forget they don't have to be solicitors - although they usually are.

Andy

[newshound]

When I did this in 2004, the solicitor (named as co-executor in the will) was charging £165. Although he was a relative youngster, he was a director of a reasonable sized and reputable firm, and he was excellent. Once he had satisfied himself that I could handle the utility bills, the house sale, etc. he suggested ways to minimise his input. It cost a few thousand pounds on a £300k estate but there were some trust funds to set up for under-age beneficiaries so it wasn't completely straightforward. He also recommended auction houses, clearance companies, etc. I would recommend having an initial consultation either with your or your relative's solicitor, if there is one. You can cover a lot of ground in a half-hour appointment. Do your research first. I've used the two Which? books in the past, but these days there will be much more info available on the web. If you look confident and competent, a good solicitor won't try to stitch you up. If you are worried about the administrative or financial work involved, do you have a friend or relative (maybe someone professional or who runs their own business) who could go to the solicitor with you?

[tim....]

What do you think you need a solicitor for? The process isnt hard, you just need someone to explain it, and uk.legal.moderated and uk.d-i-y can do that.

If you do get one I'd shop around, £200 an hour is steep.

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You wont get a "by the hour" quote for an estate. It will be percentage of value (possibly tiered)

[stuart noble]

Doesn't necessarily take longer to do the probate on a large estate, so why should the cost be related to the value? Unless you prefer to do your oath swearing in a solicitor's office, there's nothing to be gained. And if you're not capable of writing to the gas board yourself, you deserve to be stitched up.

[sweetheart]

I have already contacted both the gas and electricity people and the phone.

Thanks to everyone for their input.

One last question ( unless I get stuck), if I have to get a solicitor would it be better to get one where I live ( in Cornwall) or one who is local to my sister ( she lived in Worcester)? Will I need to see this solicitor a lot? I cannot make too many journeys at 4 hours a time . I still have to work and I still have to do other things. But on the other hand, the house and everything is up there, not here ( I brought the papers back with me).

There is very little furniture by the way. She didn't go for it and what there is dates to her wedding, so its old but not antique, so not worth a lot I would say. Nearly everything she has was in her building society accounts.

I don't know what the house will fetch but again, its not an expensive house. She lived there from when she married until she died ( 30 odd years) and its a 1930's mid terrace. So I am guessing at 100K for that - tops.

As I said before though, I can do without the money in many ways. I would rather have her alive.

All advice welcomed. Thanks.

[Tabby]

I did.

NT

[Tabby]

I'd pick one I could get to, cant see much sense dealing with one 100s of miles away.

I hope not

NT

[The Natural Philosopher]

one where you live.

a local (to worcester) estate agent will value that.

wishes count for nothing really in the matters.

[Clive George]

If it's a mid-terrace, its quite likely that there will have been similar ones sold over the years, so take a look at eg upmystreet to see what they've gone for.