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Thank you for your question. I am a solicitor in Scotland. Administering a trust would normally be charged on an hourly rate if there is work which may be uncertain in terms of quantity and a typical hourly rate would very between about £180 per hour to £280 per hour plus VAT depending on the firm and the skill and experience of the solicitor involved. Alternatively a fixed fee might be charged for routine work that is ascertainable such as trustee meetings and preparing minutes and reports. What are you being charged at the moment and what is the work that is being done?
Thanks. Frankly I wouldn’t do it for less than £750 where you have the responsibility of being a trustee and examine the investment and advise on it. There will be more than an hour’s work in the background as they will have to review the file. So your decision is whether you want them at all or would you be happy just to deal with the financial adviser without legal input? Many people do but if you want them I can’t say that their charge is unreasonable. Many firms, including my own, will charge more. I hope that helps. Please leave a positive rating so that I am credited for my time.
You can ask them to resign as trustees and appoint others or not as the case may be. A Deed of Resignation, Assumption and Conveyance would be the relevant document to use.