Ronald Raygun: The Denouement: Scene II

I can't think what you're on about, if it's my criticism of your solicitors, then your observation that:

completely exonerates me.

What age?

Ha! I must be younger than you think, because I'm in the fortunate position of not even knowing the meaning of the word. I can only guess that it's an ailment related to not getting enough Pepsi.

No, I'm not ready for varifocals yet, and if they're going to give me dispepsica, I'm not sure I'll ever be.

Nice to see them all pulling together. It's what Mary would have wanted. Hope it lasts.

Here's another tip for her:

The solicitors may urge you to go for their standard executry package which will probably involve a percentage-based fee. When Ronald senior died nearly 5 years ago the deal I was offered was 2% of moveable estate [minimum £650] + VAT + outlays. His moveable estate was about the same as Mary's, but there was no half house to complicate matters because it passed by survivorship to mum (had there been, it would no doubt have involved an additional fee, possibly at a lower rate). When I meekly suggested to the solicitors that 2% was a bit steep (but I used a more diplomatic turn of phrase), I was glad of their reply, which whilst being legal prose at its finest, was nonetheless very helpful indeed:

"I note your concern in respect of the fee and would advise the following: our standard executry package would involve a good deal of work on our part and the fee generally does reflect the amount of work done in the winding up of a deceased's estate. I note however that you would be quite willing to deal with any correspondence in obtaining the relevant information for the preparation of the Inventory, and any other correspondence that does not strictly require to be done by a solicitor."

"If that is to be the case, the standard fee for our executry package would not be appropriate. I would propose therefore to charge on the basis of time spent on our part in the winding up of the estate. My standard hourly rate is £135, but most of the administration will be carried out by my assistant, and his hourly rate is £50."

"While it is difficult to proffer an exact figure for the whole work carried out on our part, this method will undoubtedly be cheaper than our standard fee as the work carried out will be considerably less than would otherwise have been the case."

Good, eh? And the final bill was only £395+VAT and that included petitioning the court to have me appointed executor (there was no will) and drawing up a Deed of Variation. That's around a fifth of what the standard deal would have cost! Outlays were just over £300 but the lion's share of that was for a Bond of Caution, which was necessary because there was no will. This may be different in England, but is irrelevant to Al anyway as Mary did leave a will.

Interesting, nice to have some figures to work from. This has been forseen for a long time and the inventory is in Excel and merely needs updating as shares are realised, funds returned, etc.

Solicitors have plebs to do their donkey work and their procedures are practiced, phaffing around trying to explain to me how to write a letter is going to take longer than printing off the standard letter.

Meanwhile the tax meter is running...

Yes but even the plebs cost £50 an hour. You are only semi-employed and have nothing better to do and so can do it for nothing, and the postie isn't going to deliver lawyer's letters any faster than yours.

Trying to explain how to write a letter? Just write it. "Dear Bank, Mary died on the umpteenth of mumble. As executor of her estate I am required to compile an inventory of her assets. I'd be grateful if you would supply me with certificates of balance in respect of her accounts (list them here) held at your branch, as at close of business on the date of death". Easy peasy.

I reckon if you do the donkey work yourself, it will be both cheaper and quicker.

Will you have to write again and ask for the interest for the current and previous tax years?

I don't think so. The C of B as at date of death ought to include all interest due up to that date. Interest accruing thereafter isn't the estate's problem, it's the heirs'.

The executors may have to do a tax return for the previous tax year as well as the current tax year.