Cost of Solicitor as second Executor of Estate

[sherib]

For reasons of both cost and likely long delays (based on past experiences), I do not wish to appoint the Solicitor drawing up my Will as principal Executor.

My question is - if I appoint said Solicitor as a second Executor (first being a close relative who is an Accountant), will the legal firm still charge 3% of the estate?? Obviously the cost of drawing up a Will is minimal - the bite comes with the % taken from the estate and I want to minimize that. Reading through old threads and posts to AAM did not reassure. I would be grateful for any comments.

Originally Posted by Brendan 16-06-2006

It is much better to have a well organised beneficiary as the executor. I am sure that some solicitors have handled their execution duties efficiently, but there have been many cases where they seemed to lose interest and take ages. There was a case on Prime Time where a solcitor was reprimanded by the Law Society for taking years to pass on the funds.

You may need a solicitor for advice when acting as executor, but if they are slow to deal with it, then you can go elsewhere. I assume that you can't change an executor very easily

Brendan

With no disrespect to the Solicitors who contribute to AAM.

 

[mf1]

You don't need to appoint a solicitor as an executor. So don't.

Your executor can in your death decide whether to extract the Grant themselves or employ a solicitor to do it.

mf