Settling Protracted Probate - Interest on Funds

[Dimebars]

I posted on another thread recently about the protracted length of time the lawyers dealing with a deceased relative's estate were taking to finalise things.

The estate has now been settled and distributed as per the instructions left in the will, and an accompanying statement of account has been issued. This has taken around 18 months to do so.

The statement of account makes no reference to or includes no calculation of interest associated with the 18 months that the lawyer in question has had the funds sitting in their client accounts.

My question is, should I expect that to be included and distributed as well? Or should it just be "sucked up" and seen as a bonus for the lawyer over and above the fee they've already charged?

[The Leaper]

In my experience (I have been an executor maybe 6-7 times), 18 months from DOD to finalisation is not a noticeably long time. Depends on complications, number of different assets etc of course.

I am an executor for an estate right now. We are 17 months from DOD. There's a house to sell, about a dozen shareholdings to realise, and also maybe another dozen financial assets eg PBs, ISAs etc. all well underway. There were a number of debts to settle too. Probate took about 6 months to obtain. This is not an overly complicated estate but there was a lot of stuff to do from the start. The lawyer we've appointed is regarding the house sale only, and they have been OK timewise. We hope to finalise maybe January 2026.

R.

[Simpo Two]

Dimebars said:

My question is, should I expect that to be included and distributed as well? Or should it just be "sucked up" and seen as a bonus for the lawyer over and above the fee they've already charged?

Or you could innocently ask what the interest rate on their client account is, and, given that it was gained on money that wasn't theirs they can hand it over.

If it really has earned no interest for 18 months I would call that negligent.

[Dimebars]

The Leaper said:

In my experience (I have been an executor maybe 6-7 times), 18 months from DOD to finalisation is not a noticeably long time. Depends on complications, number of different assets etc of course.

I am an executor for an estate right now. We are 17 months from DOD. There's a house to sell, about a dozen shareholdings to realise, and also maybe another dozen financial assets eg PBs, ISAs etc. all well underway. There were a number of debts to settle too. Probate took about 6 months to obtain. This is not an overly complicated estate but there was a lot of stuff to do from the start. The lawyer we've appointed is regarding the house sale only, and they have been OK timewise. We hope to finalise maybe January 2026.

R.

Thanks, I'm aware that the timescales involved can be taken as "normal"

My question was more around the interest on funds

[alscar]

I have paid out around 90% of my Aunts estate as am still waiting for an incoming inheritance to her to be fully settled after 7 years - don’t ask.
I used a solicitor due to certain complications and any money that they held post me doing the heavy lifting attracted a pretty basic rate of interest which apparently isn’t abnormal.
On the incoming inheritance the house was sold 4 years ago and those funds also attracted again a pretty basic rate and certainly lower than I could have achieved on my own money funds.
But definitely some interest as opposed to none !

[Dimebars]

Simpo Two said:

Or you could innocently ask what the interest rate on their client account is, and, given that it was gained on money that wasn't theirs they can hand it over.

If it really has earned no interest for 18 months I would call that negligent.

This is my thinking. It's not their money to benefit from.

Whilst I appreciate that the full amount didn't land in their account on the same day, they've benefitted from it for at least a year at a conservative 3% guesstimate. So the 1% fee they've taken has been bolstered by another £10-15k in interest that technically isn't theirs.

It's not a huge sum, but it's large enough to consider

I guess my main question stands - would you routinely expect the interest accrued to be distributed no matter how small or large

Edited by Dimebars on Wednesday 26th November 12:35

[alscar]

said:

When I worked out the interest I actually received as Executor it was nearer the 1%.
But it’s not the Solicitors money it’s the deceased’ s and the role of the Executor includes as you know maximising the proceeds to the beneficiaries.
I would guess that mention of paying interest should actually be in their t and c.
I would absolutely be asking where the interest is.

[Dimebars]

Thanks

It's worth an enquiry then. Just wanted to check I wasn't heading down a dead end before engaging with them.