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Solicitors and estate administration

Hi

Not sure if anyone can help, but I thought I'd ask. Is it 'usual' for solicitors to hold on to monies received when handling estate administration until, for example, the fiscal year processing suits them?

I ask because the final part of the dealings (selling the house) was completed two months ago and as far as I am aware, all monies are in. However, when trying to approach the solicitor, he is not replying to emails or returning phone calls. It has been several weeks since his last communication. I am just wondering whether he is waiting for tax year end so he can "balance his books" to suit his requirements. Is this likely.

Perhaps I'm just being paranoid and he's really busy?!

S
Reply to
Steve
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As far as I know all such monies are "client monies" and held in trust, so they don't form part of their assets.

This looks like it may be relevant:

Reply to
David Woolley

Brilliant, thanks for the reply David, and for the link - it looks useful. I think I'm just being a little hasty!

Reply to
Steve

If you are talking about executors, rather than the particular type of organisation performing that role, they may need to hold some money in reserve until HMRC have come up with the final tax figures and all bills have been settled, but I would expect them to pay out parts of the legacy that were not in doubt earlier.

As well as uncertainties in the amounts owed, the fees may have a time and materials component, so their own fees may not be fixed until all the work has been done.

They probably wouldn't want to pay out in dribs and drabs because it will cost them more to do that.

Reply to
David Woolley

Yes, I left part of the picture out - the solicitor made an interim payment already. The death was 18 months ago, and most of the tax etc, I believe, has been dealt with (estate is well below the IT threshold.) There was only the house, and associated bills left which are now settled. But, as you say, there may be other ancillary elements I haven't considered. I was just worried about the lack of communication, but perhaps there's nothing to tell me just yet. Thanks again for your feedback - much appreciated.

Reply to
Steve

It sounds more like he has skipped the country with your wonga.

Reply to
The Revd

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