Probate researchers commission

[puternut]

Just seen TV program 'Heir Hunters' and I'm puzzled as to how much they charge for their services.

Seems they get a commision from each beneficiary they find but does anybody know how much? I assume its a percentage of the estate but the figures quoted in the programme don't seem to add up unless they get a massive cut

[Barmaid]

Probate researchers bill in two ways.

Firstly, if they are instructed by the personal representative of the estate to find a lost branch of the family (say on a partial or full intestacy) they charge on an hourly rate.

The second type of arrangement they enter into is with an entitled beneficiary. The contract is normally on the basis that they will provide information of the estate to the beneficiary on the basis they will receive a % of the beneficiary's inheritance. Fees can range from between 5% (particularly if there are two heir hunters involved, the beneficiary can negotiate downwards) but I have seen fees as high as 33%.

[rogerr]

I administered a will a few years back--I was contacted by my Dad's cousin's solicitor.
Out of a �50.000 eastate the solicitor and genealogist took �17.000 (�12,000 went to the genealogist!)

[pauln90]

In the first series it mentioned that the main firm featured Frazer & Frazer charged 30% commission.

[puternut]

Would appear to have been at the higher end then - they said that in 30 years they have dealt with �100 million pounds worth of intestate research.

This averages to about �3m a year.

The company employs what seems like 20 or so in the office (includes 3 Fraser brothers as managers [see pauln90]) , plus a number of 'roving' agents so their overheads will not be peanuts.

Thanks for your answers

[Mr Veritas]

Here:~
http://www.fraserandfraser.com/uk/solicitors/c osts.html
is Fraser & Fraser's costs page from their website.

Most of their work is taken from the Treasury Solicitor's Bona Vacantia lists.That is will of people who die intestate.
F&F take a percentage from the dependants of the whole estate,this is why they are in a race with other Probate firms to get to the dependants and sign them up.

They are asked by Executor's of wills to find surviving (but lost) dependants,but I get the feeling that this doesn't bring in so much money as the former cases.

[puternut]

Thanks Mr V

But the page does not give any inormation as to their charges - simply the opportunity for an online quote as far as I can see

[FandF]

Fees are never talked about on Heir Hunters because it is in our contract, with the producers. The main reason for this is because we don't want to set a precedents, every case is different and thus the fees are very different. I have seen fees of between 1% and 40% however they represent different cases entirely. A low fee i.e. one that is between 1 and 5% is only offered by very few firms they are the ones hoping to put in charges in at later dates for other things and usually when they are behind another firm in contacting an heir. Fees between 5% and 10% are again trying to undercut another firms fees because the firm is second of third to an heir, or if the estate is very big or the heir very close the the dec and thus the research is very easy. Standard fees are between 10% to 1/3 on English cases depending on a few factors, and up to 40% on US cases this is because the fee pays for more than just the genealogist in the states, because there legal system is a lot more complicated attorneys have to be instructed and the fee covers there cost as well. VAT is also payable (at the date the contract was signed, not when it is paid out).