cost of a will
in Over 50s MoneySaving
18 replies 2.6K views
we have a will ,written about 30 years ago. It is fairly simple .the wife and I leave everything to each other and after death to our two sons. We now wish to have a new will.the difference being that the executors will be our sons and not the HSBC bank. Can anyone give me an idea of cost ?.we live in central southern England should there be a regional cost issue
This discussion has been closed.
Latest MSE News and Guides
Did you know there's an MSE app?
It's free & available on iOS & AndroidMSE App
Regifting: good idea or not?
Add your two cents to the discussionMSE Forum
Energy Price Guarantee calculator
How much you'll likely pay from AprilMSE Tools
It's always worth reading the Which? books - wills and probate.
If one of your sons dies before you and has a partner and/or children, how do you want his share to be divided up?
Obviously you think you'll make a new will at THAT point, but you might not get round to it ...
We've been sent a couple of 'pre-discussion' forms by solicitors when we've enquired about the cost of new wills, and these are useful for helping you work out the answers. DH and I are still thinking about it ...
A simple will should not cost more than £200. I am paying £125, but the solicitor has done other work for me and may be giving me a discount.
Drawing up your own will is foolhardy in the extreme. You may save £200 - but it may cost your estate thousands when you die to sort out the errors in your will. Just one incorrect word can cause chaos. I read of a case where someone put "or" in their will instead of "and", this, legally, threw the whole will into dispute. What was strange (if that is the right word) was that the phrase in question was nearly always accepted, in speech, as being OK - BUT not in a will.
I can't remember the exact details, but it was rather like asking someone if they could drive a Fiesta or a Corsa, where what was meant was could they drive a Fiesta AND a Corsa (because you might be lending them one or the other).
We went to a local solicitor that was appointed by my husbands union and everything was very straight forward.
We only have one son, but, as I am an only child I had to think of the worst option. if my son and husband predeceased me and my son had no children of his own, To whom did I want my estate to be passed to. If I had not named anyone, a distant cousin(s) who I never see from one years end to another could receive it all. So I named my nieces and nephews who I see more often. My husband is one of five so he had no trouble naming them. He also tried to suggest who I left my monies to, but, the solicitor jokingly said it was not his decision to make. But, dont put it off, get it done and make a will.
Definitely worth using a solicitor.
The paragraph reads:
I appoint as my Trustee and Executor my husband ** residing with me whom failing my son ** and ** solicitor of **.
This seems to make the solicitor joint executor. Would my son be able to carry out the work on his own, or could the solicitor insist on doing the work?
Otherwise pleased with the work on the will and would definitely recommend getting it done through solicitor.
"residing with me" - Your husband may be dead or shacked up with a 20 year old when you peg out;)
"Whom failing my son **" is even odder, there's no such thing as a 'reserve' executor.
"solicitor of " This is the solicitor attempting to appoint themselves as an executor, which presumably you haven't done.
AFAIR the exector bit in a will is written as "I appoint as my executor(s) Fred, Gladys and Ernest" (etc).Which means they all act together in concert in settling an estate, unless they're dead or resign their executorship.