Mander Hadley Solicitors in Coventry

Coventry

Kenilworth

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All our work is fully case managed and supervised.

We will always advise you of the correct level of service appropriate to your circumstances.

Our charging structure is described here.

This involves the preparation of the probate Oath and tax papers from information provided, supervising execution and submission to Court and delivery of the Grant once issued. We offer fixed fees as follows.

Our professional fees

  • Estates requiring completion of a Revenue Statement (IHT205) with no Inheritance Tax to pay – a fixed fee of £1000 plus vat of £200, total £1,200.
  • Estates requiring completion of an Inland Revenue Account (IHT400) with no Inheritance Tax to pay – a fixed fee of £1500 plus VAT of £300, total £1800.
  • Estates requiring completion of an Inland Revenue Account (IHT400) and involving the payment of Inheritance Tax – a fixed fee of £1750 plus VAT of £350, total £2100.
  • Researching and valuing assets and liabilities.
  • Conducting a Will search on a suspected intestacy or where a Will is missing or where a Will might not be the last Will
  • Liaising with creditors including household utility companies and property insurers
  • Preparing the probate application including the appropriate Inland Revenue Return for Inheritance Tac and supervising their
  • Submitting the Probate application to Court and on receipt realising or transferring investments and assets in the deceased’s name
  • Paying the funeral bill, other personal and household bills
  • Placing statutory notices (where appropriate)
  • Paying legacies
  • Preparing income tax returns for the final tax period to the date of death and for the estate administration periods (to include a return to HMRC for any chargeable capital gains) or liaising with accountants appointed to do so
  • Settling Income Tax and Inheritance Tax liabilities. Obtaining tax clearance.
  • Preparing estate accounts for approval and distributing the estate accordingly with tax certificates provided to the beneficiaries as appropriate

Our range of professional fees

Value of
gross estate
Range of
professional fees
VATTotalOur typical fee
including VAT
Up to £100,000£1000 to £2,500£200 to £500£1,200 to £3,000£2,040
£100,001 to £250,000£1,700 to £4,500£340 to £900£2,040 to £5,400£3,564
£250,001 to £500,000£2,400 to £5,800£480 to £1,160£2,880 to £6,960£5,196
£500,001 to £1,000,000£4,500 to £14,000£900 to £2,800£5,400 to £16,800.£11,976
£1,000,000 to £2,000,000£10,000 to £18,000£2,000 to £3,600£12,000 to £21,600£18,630
£2,000,000 to £5,000,000£14,000 to £30,000£2,800 to £6,000£16,800 to £36,000£25,032

A fee of £42 (inclusive of VAT) will be charged for arranging a UK electronic money transfer, and £48 (inclusive of VAT) for arranging an international electronic money transfer.

There may be instances when our fees will be less than the guide shown here, but we will not exceed these fees unless we undertake additional work not included within the agreed service and we will then advise you specifically in advance about the additional fees likely to be incurred.

We always provide estimates for our fees which are tailored to the individual circumstances of the estate and these estimates are revised and updated throughout the process.

Work excluded from the above prices would include the following:

  • Genealogical research and associated work for an intestate estate or a missing beneficiary
  • Obtaining probate of a damaged original Will or of a copy or draft of a lost original Will
  • Representing the estate in any HMRC tax investigation or DWP benefit investigation
  • Deeds of Variation / Family Arrangement
  • Issuing Caveats, Warnings, Appearances or Citations or any dispute resolution work if the Will or intestacy is contested or if there is a contested administration between executors
  • Dealing with any property or assets located outside England and Wales
  • Operating or selling a business as a going concern
  • Agreeing the value of property or shares with the Inland Revenue for Inheritance Tax or Capital Gains Tax purposes, including any tax relievable assets such as agricultural or business assets
  • The management (including the sale or transfer) of property portfolios or share portfolios comprising more than 2 properties or in the case of a share portfolio more than 30 individual share holdings
  • The administration of insolvent or bankrupt estates
  • Representing and acting for the estate in regard to any trust associated with the deceased’s estate
  • Any conveyancing work for land or property in the estate or legal assents

An hourly rate of £260 plus VAT for solicitors or from £170 plus VAT for other practitioners plus a percentage of the gross cash estate & investments and a percentage of the value of any residential property. These percentages are on a decreasing sliding scale as follows:

Gross Value of EstatePercentages
Up to £1m1% of cash investments & savings plus 0.5% of residential property
From £1m to £2m0.5% of cash investments & savings plus 0.25% of residential property
Over £2m0.25% of cash investments & savings plus 0.125% of residential property

In a word, fairness. Every estate is different. The range of fees reflect the variables which inevitably occur between one estate and another.

Estates will vary between the number and complexity of assets and investments, the number of beneficiaries and whether or not tax is payable. These factors will combine to determine how many hours work must be invested to bring the estate to a successful outcome.

The percentage element based on value reflects the responsibility which is inherent in the probate and administration process. The greater the value in the estate, the more likely it is to have a complex asset structure, in terms of the number and nature of the investments and assets held, and perhaps involving the payment of tax, and this reflects in the responsibility which must be carried and discharged.

The fee range described here allows a tailored service so that we can ensure that your best interests are looked after at all times.

Some solicitor firms or legal service providers will advertise an hourly rate only. These offers might initially appear attractive. However, it will be a case of being clear about how many hours and how reasonably they are calculated; there could be an unexpected and unwelcome surprise here for the unwary.

All our work is case managed, which is efficient and represents a major saving in the cost of time, and we always provide either a written quotation or estimate of fees at the outset of each and every matter.

Other solicitor firms or legal service providers might offer you fixed or capped fees. However, if you do agree a fixed or capped fee, then when the upper limit or cap is reached, you may find that the service level will peter out. This can leave you high and dry, which we will never do. Our fee structure is flexible enough to ensure this execution.

A solicitor with more than 10 years’ experience.

DescriptionLikely Cost
Probate Court fees£300 plus £1.50 per copy
Bankruptcy searches£2.40 (including VAT) for each beneficiary
A Certainty Will Search£136.80 to £600 (including VAT)
Statutory Notices£180 to £420 (including VAT)

FOR GRANT ONLY MATTERS the probate application will be ready to approve and sign within 2 weeks of receiving the relevant information from you.

The probate will usually be issued by the Court 6 to 16 weeks after application

FOR OUR FULL PROBATE AND ESTATE ADMINISTRATION SERVICE the initial research and valuation of the estate may take between 4 and 6 weeks.

The application in Court will take between 6 and 16 weeks before the probate is issued. If tax is payable this timescale is likely to extend to 11 to 20 weeks.

After probate the timescale to completion of the estate will depend on how quickly property sells, and how quickly tax can be settled, but the cash estate & investments will be closed or transferred over a period of 3 to 5 weeks.

Where Inheritance Tax is payable then agreeing property values with the District Valuer or share values with the Revenue’s Share Valuation Division may take between one and six months depending on complexity.