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fees involved in administering the estate |
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What fees may be involved in administering the estate?- Solicitors and banks will charge a fee to administer the estate based on the:
- total value of the estate.
- time spent on the estate.
- Banks tend to charge higher fees than solicitors.
- The fee is payable out of the estate and not by the executors personally.
NB: In the event that the executors feel that the size of fee charged by solicitors or banks is too high, it is possible for executors to apply to the local Sheriff Court for it to be independently assessed (taxed) by an official of the Court (known as the auditor).
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