A person making a Will appoints executors to administer the estate after their death. Professional executors including solicitors, banks and will writing firms are entitled to charge for the work they perform in administering the estate. Many are accused of promoting the practice of being appointed as executor in order to charge heavy fees when the client dies.
The Law Society has recently issued a guidance note for solicitors detailing information which must be given to clients who are making a Will and considering the appointment of a solicitor as executor. The guidance provides that certain factors need to be considered and information given to a client before the solicitor agrees to act as executor.
Specifically, the decision to appoint the solicitor as executor must be in the client’s best interest. The client should be advised that lay executors can be appointed who will always have the opportunity to engage a professional to help administer the estate if thought necessary. The solicitor should consider whether the size or make up of the estate actually warrants a professional executor. A small or straight forward estate may be capable of being handled by a lay person.
Oak Tree Probate Solutions welcome this guidance and the Law Society’s approach. We aim to provide a service to our clients that is fair, transparent and value for money. We often assist and support lay executors and trustees in taking out Grants and in administering some or all of the estate as their requirements dictate. We are happy to provide a fixed fee arrangement for the work involved in applying for a Grant or in dealing with any other aspect of the Estate.
We have acted as professional executors and trustees for thousands of clients and remain ready willing and able to perform that service when requested of us.
Please contact us for a no obligation discussion on 0800 136 302.