We were chatting about this the other day. A clear example of the SRA failing to understand the variables that arise when dealing with an estate, which, as we know, is far more than Probate. I agree with you that this will be yet another boost for the unregulated sector.
I fail to see how this makes the process/fees more transparent given the detailed quotes we already provide in our engagement letters. And again when Probate is granted. My view is it can only become clear what’s involved once you have met/detailed correspondence with the client(s). Even then, many other things crop up. Countless times I’ve had initial calls from Exors telling me how straightforward it all is, but the truth being somewhat different after you’ve sat down with them.
People can shop around now by, and this will seem old fashioned, actually going to see someone, you know, face -to- face (imagine that?). They can ask questions, be adequately advised on matters they hadn’t considered, get to decide if they can work with you and, bizarrely perhaps, actually like you and feel comfortable that you’ll be dealing with such important matters on their behalf.
We offer both fixed fee and hourly rates, and as yet we are undecided how we’ll meet this ridiculous regulatory requirement. I imagine many published quotes/fee will be full of caveats, or will address only the minimum requirements, so be of no real use anyway.
Parker Rhodes Hickmotts