Probate costs.

NUTLEY BOY

What should it cost including stamp duties for a solicitor to get a grant of probate?
The estate is worth Euro 700,000 gross. All the assets/liabilities are known and the deceased left a will.

coylemj

There is a set formula which I can't remember but if I was you I'd consider doing it myself i.e. the executor can apply for personal probate, it's all documented on the Probate Office website. Requires a bit of legwork and no harm to be good with MS Word (to write to banks and credit unions) and Excel (to track the money).

If the executor doesn't have the time or there are complications of any kind then by all means use a solicitor but I'd shop around and negotiate the fee. Solicitors start from the premise that most people aren't aware that they don't absolutely need to use a solicitor so they quote the standard % as the fee. Don't fall for this BS, point out (assuming it is the case) that the estate is not very complicated and just involves a bit of clerical and no great legal skills and you want a flat fee less than the standard fee. Make sure to establish if the quoted price includes or doesn't include VAT.

Frankie5Angels

I was in the unfortunate position of having to put together a personal application recently. Aside from the running around getting all required information i.e. bank statements etc, I thought it was a pretty straightforward process (though I should add the caveat that there were no complications - there was a will, everything was clear etc).

If I were you I'd consider doing it myself. The following link should help:

www.revenue.ie/en/tax/cat/leaflets/ca25-2010-edition.pdf

Note that fees for a personal application are double what a solicitor would pay, but it's worth it when you consider what you pay solicitors - a recent NCA survey suggested an average of circa 2.7k.

coylemj

Frankie5Angels wrote: »

a recent NCA survey suggested an average of circa 2.7k.

Yet another complete waste of money survey by the NCA. Talking about an 'average' for probate is like talking about an average for a funeral or holiday - completely meaningless.

2.7K would be at the low end of the scale for a solicitor doing probate. I don't know where they got that number from, probably the Law Society and I bet it doesn't include VAT.

Carawaystick

coylemj wrote: »

Make sure to establish if the quoted price includes or doesn't include VAT.

Why wouldn't the PRICES AND CHARGES (TAX-INCLUSIVE STATEMENTS) ORDER 1973 apply to the price quoted by the solicitor?

sorry for the caps ( cut'n'paste)

Pat Mustard

That SI appears to be still in force.

If a solicitor gives a quote, it is likely to specify that VAT will be on top. For example, €14,000 + VAT.

In any case, there is supposed to be a written fee estimate, setting out the basis of charges or an estimate of charges, etc.