Solicitors and family wills - a lesson

Am currently working my way through a load of old papers that are in mum’s correpondence folders. Amongst them are a number of copies of old wills, together with letters and accounts from the respective administrators of those wills (mainly solicitors).
Grandad mathews and great aunt mathews, being a couple of them. One in particular (Miss T. Mathews) makes interesting reading.
Total assets =£489.87, left in equal shares amongst 5 beneficiaries. The final account received fom the solicitors shows the following - 
Solicitors costs for administration of the will - £270.75
Balance, divided by number of beneficiaries = £123.75
Sum for each beneficiary = £24.75
So, the solicitor received £270.75  from the will and the beneficiaries received £24.75  each.
Hmmm ! There is a clear lesson here. If the will is a simple one (and I guess that most are), appoint a couple of the beneficiaries as administrators and keep well away from the professionals.

This entry was posted on 08/01/2008 at 07:34 pm and is filed under daily stuff, Having a moan. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.