solicitors charge for will?

Mojisola

bobthedambuilder wrote: »

They charge by the hour for providing advice and dealing with probate etc. The executors can appoint then to do this. Acting as executor is just another service.

But the executors don't have to use them and so they could end up not earning anything from the will. That's why I don't understand why they would write the will for free.

marywooyeah

Mojisola wrote: »

But the executors don't have to use them and so they could end up not earning anything from the will. That's why I don't understand why they would write the will for free.

some solicitors do them for free to make up a bit of pro bono time - it looks good for them and the firm to be doing a bit of free work.

bobthedambuilder

Mojisola wrote: »

But the executors don't have to use them and so they could end up not earning anything from the will. That's why I don't understand why they would write the will for free.

True. But banks don't have to give you money for opening a current account with them, but some do. It's a form of promotion. People will be more likely to use a lawyer who's already given them a freebie than one who hasn't. And to a lawyer a simple will is straight off the secretary's word processor - just change the names.

Savvy_Sue

It's worth phoning around a few solicitors to ask what they would charge for what should be a simple will: however, it's worth saying that a solicitor will (or should!) check whether it is as simple as you think it is.

It's already been mentioned that you need to think about trusts for the under 18s, and also what happens if any of his children die before he does. It's also worth considering whether it's likely that any more grandchildren will appear before he dies. Normally the beneficiaries would be named, but sometimes a clause will be put in to make provision for any later additions to the family. For example a sum can be put in trust for all the grandchildren, present and future, to be shared out when the current eldest reaches a certain age.

All of the above makes it more complicated than what you initially envisaged.

WhiteHorse

dzug1 wrote: »

It varies wildly - some will charge nothing or next to nothing if they are made executors (on the grounds they can charge the earth later) - others will charge a reasonable amount. Maybe £200-300?

For a simple will, £70-£90 would be reasonable. They should charge nothing for storing it.

Avoid making solicitors executors, because then you really will get pasted.

dzug1

Mojisola wrote: »

But the executors don't have to use them and so they could end up not earning anything from the will. That's why I don't understand why they would write the will for free.

The executors DO have to use them if they are included as executors as well - and you can be sure the will will be written that way if it's a cheap one.

Mojisola

Old_Git wrote: »

I know relatives that where charged nothing to make a will .
The solicitor was not the executor ,but they make there money from the probate when the person dies .

dzug1 wrote: »

The executors DO have to use them if they are included as executors as well - and you can be sure the will will be written that way if it's a cheap one.

In this case the solicitor wasn't an executor. That's why I was curious about a will being written for free.

inneed

Thanks again everyone. We all agree that the house will be sold. As an idea of it's value, the one directly in front of it sold for £70k recently. I hadn't thought about trusts for the great-grandchildren, but I agree that their parents would be best. I acted as executor for my mother, but it was very simple as most things were in joint names anyway. I did have to apply for probate for her isas, but found the office very helpful. Has anyone used Which wills? Any thoughts there? I will keep an eye up at different solicitors, but Dad is keen to get it written asap.

Buckingham19

I have found this an interesting thread. If you have parents over 60 then you need to look at not only how the estate will be distributed (their wishes, not yours) but also how to protect the estate before and after their death.
1. What happens if one or both go into care. The total estate over £23,000 could go to pay the costs. You need a discussion with a professional.
2. What happens if one or both cannot look after their own affairs. Unless you have Lasting Powers of Attorney in place you will lose control of the estate to the Court of Protection.
3. What happens if they both happen.
4. If none of this happens and you manage to reach probate then look at the costs involved. Firstly a poorly drawn up Will can give high probate costs. Cheap online and home made Wills mean you have all the responsibility and believe me there are some traps. Secondly look at what each company charges for probate and see if you can do some yourself. My advice try a Trust Corporation such as Kings Court or SWW Trust Corporation.

Or on the other hand you could save yourself £10 and cost the family all its inheritance.

Buckingham 19

inneed

Thanks Buckingham 19, I think lasting power of attorney will be something to look in to in the near future. I imagine most people will be back at work tomorrow, so I'm hoping to get a couple of quotes for drawing up the will. Dad is currently in hospital, so it would entail a visit from them.