Lawyer Fees for Estate Settlement Birmingham
“I would like to send my thanks for your help and support following the sudden death of one of my siblings your Law firm helped to guide me through the legal formalities, which you did.”
“Just a quick thank you for being so helpful and accommodating for my parents in Birmingham.”
“My Mother told me she is now greatly relieved that her affairs are at last in order. Thank you for your help.”
“Our whole family would like to take this opportunity to thank you for all your help steering us through the process of finalising mum’s estate. Finding a local law firm in Birmingham who have been diligent and patient has been an absolute pleasure”.
Dealing with the affairs of a person after that person has died can be a complicated task. If you have been assigned this particular task, then you are most likely either an executor or an administrator. At this point, it would be in your best interests to find a UK Executry Lawyer to help you out with the various tasks that you have the legal responsibility to accomplish. With that said, you might be thinking about what kind of lawyer fees for estate settlement you are expected to pay? Fortunately, when it comes to estate settlement, you may not actually have to pay anything as long as you play your cards right. Therefore, read on and learn more about lawyer fees for estate settlement and how the estate of the deceased itself will actually be responsible for these fees.
What Is An Estate?
Of course, before we talk about lawyer fees for estate settlement, it is good to be on the same boat and learn all about the legal jargon used in UK Executry Law. So first of all, the estate of the deceased simply refers to all the properties and assets that the dead person leaves behind. Law dictates that these must be properly disposed of and therefore, a particular individual or individuals must be named in order to dispose of the properties.
The estate includes liquid assets as well as shares, personal possessions, cars, and jewelry. It may also include properties abroad as well as properties with encumbrances.
The Executor Or Administrator
In the settlement of the estate of the deceased, we cannot move on with the actual lawyer fees for estate settlement without tackling the issue of executors or administrators. Functionally, both types of legal representatives actually perform the same role. They serve to represent the deceased and are appointed for the specific purpose of settling the estate of the deceased. The main difference between them is that an executor is appointed through a will. Furthermore, multiple executors may be appointed and with each given specific tasks as to the disposition of specific properties. Meanwhile, an administrator is appointed by the courts in order to settle the estate when there are no executors named in the will of the deceased or if the person died intestate or without a will.
What is Probate?
Probate is the legal document that provides you with the legal authority to deal with the properties of the deceased if you are an executor. If you are an administrator, you will need a similar document called a “letters of administration.”
These documents are required in cases wherein real property is involved. They are not always necessary. For example, if the estate is made up only of personal possessions including money, furniture, cars and jewelry and the amount of money is small (to be decided on a case-to-case basis). This is true even if the money is held in a bank, by an insurance company, or in a pension fund.
What About The lawyer fees for Estate Settlement?
As an administrator or executor, you are actually allowed to contract out a solicitor using part of the estate of the deceased in order to facilitate the estate settlement. You are not required to pay out of your own personal money.
Specialist Executry Lawyers, we can help with Living Trust, Will Writing, Wills and Probate, Power of Attorney, Guardianship Orders, Tax Inheritance or Estate Planning
We cover the whole of Birmingham including; Birmingham, Birmingham City Centre, Wolverhampton, West Bromwich, Solihull, Sutton Coldfield, Walsall, Coventry, Kidderminster, Stourbridge, Dudley, Redditch, Tamworth, Cannock, Telford, Nuneaton, Worcester, Leicester