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Recieved an interesting....LATEST NEWS....

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ProfilePosted byOptionsPost Date

MrDaff

MrDaff Report 3 Dec 2012 19:51

Just don't give this company any information about your bank accounts etc until you ring them and further verify authenticity. It's that time of year, I'm afraid...... GL !

Amokavid

Amokavid Report 3 Dec 2012 20:00

Sorry Mr Daff, not sure what you are saying,we don't have to give any bank details, the deceased relatives Solicitors have sent us a cheque.
It is all kosha,the solicitors contacted us,re hubbys relative,& we have just had to wait for it all to be finalised,3 years down the line it has been,previous letters listed all the beneficiaries,many of whom we know personally,there is nothing odd about the claim.

Joan.

LollyWithSprinklez

LollyWithSprinklez Report 3 Dec 2012 20:04

Have been watching this thread with interest.. More than shocked at the fees taking up over half the legacy & that interest rate is pathetic but glad it's finally sorted

Did they reveal the names of the other beneficiaries and has it helped at all with your family tree? Think that would be a better bonus than the money

Thanks for the update it has been very interesting and eyeopening :-D

BrianW

BrianW Report 3 Dec 2012 20:17

Those research fees @ 36.5% and solicitors fees @ 23% of the value of the estate are taking the p*ss.
I wouldn't expect the research to exceed 25% and the solicitors to be more than £4,000/£5,000 unless there were unusual complications.
The solicitors should have agreed a percentage or fee with the researchers in advance.
I wonder what the Law Society would have to say about the charges?

Amokavid

Amokavid Report 3 Dec 2012 20:18

Hi Lolly.

Indeed yes, those 2 very large fees were a big shock for us as well.
No other / new names shown in todays letter which has left us wondering who the extra ones are,hubby is wondering whether to contact the solicitors & ask for an explanation re the beneficery numbers changing,the previous letter seemed to advise that no others could be found!

Did some more of the deceased persons family,all of which is in Scotland,it was nice to locate her & see where she & her parents fitted within hubbys family.

Joan.

Amokavid

Amokavid Report 3 Dec 2012 20:24

Hello Brian
I have no idea what the rate might / should be,but it is / does appear to be a shocking amount doesn't it, this is in Scotland so have no idea as to who "regulates" this kind of thing!

Joan.

BrianW

BrianW Report 3 Dec 2012 20:27

The Law Society of Scotland
26 Drumsheugh Gardens
Edinburgh
EH3 7YR

T:+44(0) 131 226 7411

Amokavid

Amokavid Report 3 Dec 2012 20:54

Thanks for that Brian,I have taken a note of the address details.

Hubbys not sure he wants to "question" things,but it does make me wonder if we perhaps should??

Joan.

LollyWithSprinklez

LollyWithSprinklez Report 3 Dec 2012 21:06

Hi again Joan

I would if only for the sake of the the deceased rellie whose legacy to kin has ended up in the hands of solicitors and researchers (well at least a huge part of it)

Sleep on it - I can understand your husbands reluctance but there may have been an error in the figures you could broach it from that angle to begin with to get a response to act on

 Sue In Yorkshire.

Sue In Yorkshire. Report 3 Dec 2012 22:11

That amount for the researchers seems OTT to me,thought they were only supposed to charge around 10% to 15% and the cost od the certs.


And the solicitors Fees are definitely out of this world.my god don't wonder you got £99.

Don't spend it all at once.


Amokavid

Amokavid Report 3 Dec 2012 22:52

Hi Sue, thanks for your reply.

In June of 2011 we had a letter from the research firm informing us that THEY had completed the research & all paperwork had been passed on to the deceased persons Solicitors dealing with the estate,so it did not take them 3 years to locate all those who were eligible for a share in the estate,their work was done within 18mths of being asked to o the research!

Joan.

Purple **^*Sparkly*^** Diamond

Purple **^*Sparkly*^** Diamond Report 4 Dec 2012 05:58

I would certainly challenge those charges etc Joan, no wonder those companies on tv progs work so hard chasing up the people, they must rake in a fortune. I am sure your husband's relative wouldn't have been happy with the amounts taken from the total and hope things can be clarified.

I suppose £99 is better than a kick up the rear but after so long, it's worth even less than it was when you first heard the news.


Lizxx

Karen in the desert

Karen in the desert Report 5 Dec 2012 23:30

Hi Joan,
I was pleased to see that you/OH have finally received the inheritance!! That took a while to sort out didn't it. I can only think that some further (complicated) information must have cropped up, since the number of beneficiaries increased significantly.
But what a shock to see the deductions!!
As you have had the cheque, and presumably paid it into your a/c by now, I would ask for an explanation/breakdown of those extortionate costs. What have you got to lose?

I don't know what solicitors charge for estates/administrations/probate matters, except to say that for conveyancing mine is currently charging me £155 per hour, if that's anything to go by!! As for Frazer & Frazer (featured on Heir Hunters) I believe their commission is 25% or 30% of the value of the estate.
Anyone ever seen a solicitor driving round in a beaten-up old Ford Fiesta? Exactly my point.
Think I'm going to look into taking up a new line of work ;-) ;-)

Karen