Discretionary trusts wills

debj_3

I know other threads have dealt with inheritance tax but I want to ask if anyone has experience of setting up a discretionary trust will without seeing a solicitor. There is a website called https://www.tenminutewill.co.uk that seems to allow you to set this up yourself for around £40 each. I know that you can write your own wills but I just want to make sure that anything more complicated is safe to do this way?

Any advice appreciated, thanks.

wee-pat

Debj

I have just used tenmiute will to make a discretionary will trust for my wife and I, we also did E.P.A. at the same time. The cost for this with bound and printed documents and all the instructions for getting it signed to make it legal was £162 .Quite reasonable has I had been quoted by a couple of solicitors a will package for £900. So if you don't have a complicated will download ten-minute will and read their instructions. Some solicitors will quote a smaller price but want you to have them as an executor and will cost about 3% of the estate when the will is executed.
If you can read and use a computer you can d.i.y. and save some money.

debj_3

thank you - that is very good to know. But,what is EPA? and what are the 'instructions for getting it signed to make it legal'?

I think we will definitely go ahead. I have just asked solicitor who has our current will to send it back and then I will go back to the 10 min will website.

wee-pat

E.P.A. is a enduring power of attorney and is explained on the tenminute will site.the instructions for getting wills signed is included with all instructions when you make the will,
If you go on to their web site and download the instructions it is all explained,
they even allow you to see a sample of what your will looks like before you pay.