How much will I have to pay a professional?
The usual way solicitors charge is by an hourly rate and a percentage of the estate. Similarly Banks tend to charge a percentage of the estate, which is typically high.
We feel that this is unfair, and if you want help we will offer you a low fixed cost quote, so you know how much you will pay from the outset. This is paid out of your loved one`s estate at the end of the process, so you will not have to find these fees personally. Expect to pay anything between 1.5% and 2.5% for a good comprehensive service. It`s unwise to pay too much, but it`s worse to pay too little. When you pay too much, you lose a little money that is all. When you pay too little, you sometimes lose everything, because the thing you bought was incapable of doing the thing it was bought to do. The common law of business balance prohibits paying a little and getting a lot it can`t be done. If you deal with the lowest bidder, it is well to add something for the risk you run, and if you do that you will have enough to pay for something better.
Typical fee comparison – see the savings you could make
|Banks||4% of the estate|
|Trust Corporations||3% of the estate|
|Solicitors (named as Executors)||2-3% of the estate|
|Solicitors (not named as Executors)||2 % of the estate|
You could easily save up to 2% of the estate asking us for a quote
Trust Corporations are not required to be regulated or insured, so check they are. Solicitors may sometimes charge more if they are named executors in the will.