Benefits to dying intestate?

[Setanta12]

Is there a saving to be had on legal fees where the last-remaining-spouse doesn't have a will, and one of the children agrees to look after the paperwork of the simple estate (house/rental property/car/two mortgages)?

What would happen in the situation where one child didn't agree - eg wanted the family home sold or not sold as the case may be, in opposition to plans of other children ?

 

[emeralds]

I cannot see any benefits whatsoever to dying intestate. It can take a long time for affairs to be sorted and there may be more paid in inheritance tax than will be gained by no legal fees...

 

[Brendan Burgess]

They could incur a lot of legal fees in arguing over the will and who the executor should be.

The only legal costs required is the drawing up of the will in the first place.

The testator can appoint one of their children as the executor and avoid the legal fees charged by a professional executor.

 

[mf1]

"Is there a saving to be had on legal fees where the last-remaining-spouse doesn't have a will, and one of the children agrees to look after the paperwork of the simple estate (house/rental property/car/two mortgages)?"

That's the question. Here's the answer.

No.

"The testator can appoint one of their children as the executor and avoid the legal fees charged by a professional executor."

1. The testator can appoint anyone they like - offspring, neighbour, whoever.
Don't peddle the notion that a child is necessarily the right person. Especially in what are likely to be contentious estates.

2. In my experience, as a practising solicitor of more than 30 years, the number of times, I have seen, or heard of, in a business capacity, a professional executor is minimal.

There is a notion peddled frequently that solicitors constantly take on the role of executor, against the express wishes of their clients (none of whom have a titter of wit) and are led blindly by the cunning, underhand, advisor. Remind me again- why do they go to this person if they are so rubbish?

In my experience, that does not happen. But then what would I know?

mf

 

[Gerry Canning]

"Is there a saving to be had on legal fees where the last-remaining-spouse doesn't have a will, and one of the children agrees to look after the paperwork of the simple estate (house/rental property/car/two mortgages)?"

That's the question. Here's the answer.

No.

"The testator can appoint one of their children as the executor and avoid the legal fees charged by a professional executor."

1. The testator can appoint anyone they like - offspring, neighbour, whoever.
Don't peddle the notion that a child is necessarily the right person. Especially in what are likely to be contentious estates.

2. In my experience, as a practising solicitor of more than 30 years, the number of times, I have seen, or heard of, in a business capacity, a professional executor is minimal.

There is a notion peddled frequently that solicitors constantly take on the role of executor, against the express wishes of their clients (none of whom have a titter of wit) and are led blindly by the cunning, underhand, advisor. Remind me again- why do they go to this person if they are so rubbish?

In my experience, that does not happen. But then what would I know?

mf

Mf;
Thanks for making me chortle.(none of whom have atitter of wit)

Indeed It might be the family member who is the real{cunning,underhand }one.

Solicitors are always good blame fodder .

As you say {what would I know?}
Methinks, a quantum value over what most of us know.