Probate sum different than dispersed amount

femur61

Recently my brothers and I received an inheritance from our last living parent. The estate was divided equally. I received a copy of the probate letter with a gross figure and a net figure. I was the only one of the family to receive a copy.

When the money was finally dispersed the solicitor gave all of us a simple breakdown of expenses deducted and what money he had found. But the money in his computation is about €20,000 short of the net figure and about €35,000 short of the gross of the figures in the High Court Probate letter. I had assumed the net figure on the probate letter would be the value of the estate less the expenses. So when they were deducted again and also the final sum on the computation is less than the figure on that he put in for probate.

I hope I have explained it sort of clearly. We have not said anything to him as we are still waiting to get more money.

My initial thought and my other siblings is he has taken it.

JBG2011

There's probably a reasonable explanation but in truth there shouldn't be confusion as the solicitor should set out a full statement of account, including his bill. He must present this to the executor.

It's not clear from your post but was any tax payable? You probably had a large gift exemption so it would have to have been a largish estate for CAT to be charged.

I have a sneaking suspicion the sum could be his fees. Probate can be expensive but solicitors are obliged to give clients a written estimate of their fees before they commence work. Did you agree fees with the solicitor? €20-35k seems to me to be completely excessive for probate unless there were extraordinary complications but it has not been unheard of.

There is also the possibility that there is a genuine error or misunderstanding so be careful not to go in with all guns blazing. However, the executor is entitled to clarity, and you should get the solicitor to explain the sums to you.

femur61

JBG2011 wrote: »

There's probably a reasonable explanation but in truth there shouldn't be confusion as the solicitor should set out a full statement of account, including his bill. He must present this to the executor.

It's not clear from your post but was any tax payable? You probably had a large gift exemption so it would have to have been a largish estate for CAT to be charged.

I have a sneaking suspicion the sum could be his fees. Probate can be expensive but solicitors are obliged to give clients a written estimate of their fees before they commence work. Did you agree fees with the solicitor? €20-35k seems to me to be completely excessive for probate unless there were extraordinary complications but it has not been unheard of.

There is also the possibility that there is a genuine error or misunderstanding so be careful not to go in with all guns blazing. However, the executor is entitled to clarity, and you should get the solicitor to explain the sums to you.

His fee and all expenses incurring at my fathers death are in a spreadsheet he gave us showing what we were getting. We all had to pay a small CAT which we paid ourselves after we received our inheritance.

When we add all the payments to what we received there is a shortfall.

We are being careful about this in case there is a very reasonable explanation. That is why I am asking here to see if anyone could shed any light on it (probably didn't do a great job explaining it). My brother is an accountant and it is the first thing he thought of. I will show it to my solicitor to see if he can shed any light on it and hopefully there isn't an omerta like oath between in the solicitor profession!

Thanks

P. Breathnach

Was there a property? If there was a house to be sold, the price realised might have been less than the valuation for probate, and there might also have been costs involved in selling it which were not separately shown.

femur61

P. Breathnach wrote: »

Was there a property? If there was a house to be sold, the price realised might have been less than the valuation for probate, and there might also have been costs involved in selling it which were not separately shown.

We did sell but he issued another bill for that. Also, the solicitor was the executor.