discretionary will costs

GeoH_2

I have been advised to make a new discretionary will to assist in not paying IHT.
What should be the normal charge for a will of this type.
Obviously it will involve 2 wills (i would think straight forward)

Husband leaves to wife and 2 children

Wife leaves to husband and 2 children

I have been quoted 5% of fund / investments total.

ta

George

pchelpman

Don't do anything with Trusts at the moment.

The latest Budget speech (March 2006) drove a coach and horses through current tax planning thinking using Trusts.

Until the Finance Bill becomes law, and the final wording of the new rules is known, any tax planning with Trusts now would be very speculative and highly risky.

Robert_Sterling

If a person dies and leaves a will then the benficiaries can vary the will provided that anyone who is affected by the variation agrees to it.
Theoretically you can do this during the two years following the death.
Howver I think you have to get started within the first six months.

This is not professional advice.

Tiggs_2

£500 - £800

and dont get to hung up on the new trust rules. go chat to a decent adviser who will know the score (i have done plenty of trust business since april 6th, to say all trust work is on hold is a little kneejerky)

elliebean_2

Ditto what Tiggs says. We're still writing Discretionary Trust Wills. The potential effects of the Budget on trusts is limited to some specific types of trusts and particular circumstances. In my experience charges vary depending on who you go to and what part of the country you're in, but can be anywhere from £500 to about £1,000.

GeoH_2

Thanks all

I got it a bit wrong with costs.

It actually is £550 for both wills

George