Wills: should we involve solicitor?

hedgehopper_2

My OH and I own a property as tenants-in-common and need to draw up wills pretty much asap to ensure passing on of ownership. We've been quoted £200 for our solicitor to do it, and are wavering over whether to pay this or write our own, which some of my more legally savvy friends have done.

Since I do know a couple of lawyers I'm tempted to just ask for their help, but I am quite anxious to get this sorted really quickly as we are both currently placed to lose our life's savings if the worst happens. And I know how these sort of arrangements with mates can take longer to come about than simply paying someone.

But is this straightforward enough we could simply do it with a kit on our own? For now I am literally only concerned about the house and possibly our pensions so I'm wondering if it really is as simple as us both writing that down in the correct format.

many thanks
HH

Jowo_2

If you can wait until Nov, perhaps not a good idea as you are in an understandable hurry to protect yourself, there is Will Aid

http://www.willaid.org.uk/

other than that, I think a self-written will could be very risky and £200 for better peace of mind is not a false economcy. I know that when I presented some of my intended content to my solicitor, they explained why it wasn't possible and had to be re-phrased.

perhaps you can find a cheaper local solicitor?

poppysarah

Are you married or planning on getting married?


Write down what you plan the outcome being on either of your deaths, and both...

hedgehopper_2

I think I'd prefer to pay to get it done, just for speed and peace of mind. Does £200 seem a lot then?

We aren't married but I'd say it's not out of the question that we might get married at some point in the future. As I understand it, the things we need to do here would all be taken care of if we were, so I don't think it will matter that certain things in the will become void on marriage.

localhero

Hi Hedgehopper,

I would not recommend DIY as your will really needs to be tailored by a specialist to your particular circumstances.

£200 is about right for a solicitor - but the important question is do they specialise in wills? A solicitor who has demonstrated expertise in the subject will be a member of `STEP`.

Before doing anything I would recommend you visit the Institute of Professional Willwriters' website at www.ipw.org.uk. There is a link to members in your area who you can contact. Prices will vary so perhaps contact several to compare prices.

All members abide by a Code of Practice which is endorsed by the Office of fair Trading.

Richard_Webster

Hi Hedgehopper,

I would not recommend DIY as your will really needs to be tailored by a specialist to your particular circumstances.

£200 is about right for a solicitor - but the important question is do they specialise in wills? A solicitor who has demonstrated expertise in the subject will be a member of `STEP`.

Before doing anything I would recommend you visit the Institute of Professional Willwriters' website at https://www.ipw.org.uk. There is a link to members in your area who you can contact. Prices will vary so perhaps contact several to compare prices.

All members abide by a Code of Practice which is endorsed by the Office of fair Trading.

Although I suppose I am bound to be a little biased in that I am a solicitor, LocalHero makes a fair point when he emphasises that will writing is not regulated by law and there are some scams out there - not only with badly written wills but with pressure to use some associated company as executors at great future expense. So if you decide not to use a solicitor to do it but want to use a will writer, it makes sense to use someone who is prepared to submit to the present voluntary regulation of a body like the ipw.

G_M

How old are you?

A number of charities provide free wills - they pay the solicitor's fee but in return expect you to leave them something in your will. If you are donating to charity in your will anyway, either to minimise inheritance tax or just to support a charity, it's a good way to get a free will. EG

Alzheimer's Society (Birmingham, over 55)

Cancer Research UK (Over 55)

Institute of Cancer Research (Over 50)

Roy Castle Foundation (Liverpool, Over 55)

Stroke Association

RNLI (Fife, over 55)

neverdespairgirl

hedgehopper wrote: »

My OH and I own a property as tenants-in-common and need to draw up wills pretty much asap to ensure passing on of ownership. We've been quoted £200 for our solicitor to do it, and are wavering over whether to pay this or write our own, which some of my more legally savvy friends have done.

I'm fairly legally-savvy (I'm a barrister, so is OH, so is my Dad) and we paid to get our wills done properly.

The upfront cost is nothign to the potential nightmare if things go wrong.

"Home-made wills are the toast of the Chancery Bar!"

sooz

Do it properly. Your children/heirs will curse you if you get it wrong, all for the sake of 'saving' £200.

rosyw

Another vote here for doing it "properly".
Hy OH and I did ours many years ago, and I'm so glad that we did. He passed away 18 months ago and although we had lived together for 34 years we never married, everything would have been even more difficult than it was if he hadn't made a will leaving me his "half" of the house. I can't imagine how I would have coped if the will hadn't been done properly and there had been any problems with the house. Losing your partner, whether married or not is so hard, but the possibility of also losing your home would be horrendous.

Ian_W

Another vote for the "get it done properly" wing of MSE. However, whoever does it properly, be it a solicitor or a member of the IPW, don't appoint them as executor.

Not a dig at either - but you're leaving your next of kin as hostage to fortune over their eventual charges. Those charges may turn out to be fair and reasonable but if the executors need legal help they can get it on agreed terms when it's needed.

Finally, never appoint your Bank as executor. I saw one Banks charges (Barclays I think) and they charge a flat rate on estates up to £200K of £5,000+vat. A local solicitor has just distributed a relatives estate of that sort of magnitude and the charges including vat and disbursements are just over £1K.