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The Common Room / Re: Two part question re:wills
« on: Thursday 07 March 24 09:41 GMT (UK) »
I believe that (In E/W) beneficiaries who are left a specific bequest, or a set sum of money, are not automatically entitled to a copy of the estate accounts, but a "residuary beneficiary" who is to receive a share of the estate is entitled to see such an account so that they are able to confirm they have received the correct amount.
When I asked a solicitor about dealing with my father's estate they wanted to charge their hourly rate ( about £150ph I think it was at the time - probably much more now) AND 2% of the estate value. I declined their offer and dealt with the estate myself which is a surprisingly simple thing to do.
In that, and another case since, in which I have acted as an executor I have provided each beneficiary with a simple spreadsheet showing the estate assets/expenses and distribution calculation.
Ask the solicitor to provide a copy of the estate accounts.
When I asked a solicitor about dealing with my father's estate they wanted to charge their hourly rate ( about £150ph I think it was at the time - probably much more now) AND 2% of the estate value. I declined their offer and dealt with the estate myself which is a surprisingly simple thing to do.
In that, and another case since, in which I have acted as an executor I have provided each beneficiary with a simple spreadsheet showing the estate assets/expenses and distribution calculation.
Ask the solicitor to provide a copy of the estate accounts.