Need will writing advice...

tanith

Thankyou for all your helpful comments , I will look for a local solicitor and maybe ask them to send my friend an estimate of charges and she can then decide.. I am trying to keep out of the actual process and if I can think of someone I may suggest she uses someone else as executor as I really don't want to get in the middle of a slanging match with her children... thanks everyone for your kind help...

Jake'sGran

ceewash wrote: »

What is a reasonable price to pay for a will?

If you shop around during the Will Aid period in October some solicitors might ask for £50-75 but I think our's was very good for the reasons mentioned.
They seem to have different ways of handling the charity aspect too. One said it would go to a charity of their choice but another said it would be our choice. I have heard of people paying £200 - £350 for simple wills which I think is over the top. I typed out all the information they required before our appointment and I think this might have reduced the price.

tankard_2

The Wills Register Ltd, Folkstone are supposed to be good. They charge just £50 for two mirror wills.

http://www.willsregister.co.uk/contact/contact.php

What do you know about them?
Any good or bad points, please - coz I'm about to use the Wills Register myself...

Willman_Rodders

Hi Tankard,

As a professional will writer we used to offer online will applications. These were quickly withdrawn because we realised we shifted responsibility from ourselves (to find out what the client wanted) to the client. This therefore meant the client had to do significant research.

A professional will writer (be they a solicitor or will writer) will quickly identify what is relavant to you and explain your options accordingly - allowing you to make an informed decision about aspects that are relevant to you.

I do not know of the Wills Register myself but using the links you have provided there are a couple of points I'd draw your attention to ...

1. Their supporting documentation talks briefly about inheritance tax. It refers to the Nil Rate Band as £250,000; it was at that level several years ago and is presently £300,000. (It went £250k, £263k, £275k, £285k, £300k)Since it was at £250,000 we have seen the Finance Act 2006 introduce sweeping changes to the taxation of trusts. Has the company amended its clauses accordingly? Is their other documentation equally out of date?

2. The supporting notes have a number of spelling mistakes within them; in my experience if a company cannot get its literature correct they often show a similar standard in the production of their documents.

3. The application form was relatively basic. You might not need provision for your business, or trusts, or for a disabled child or ... but if you are not asked you will not know these provisions exist.

4. The application refers to and suggests you appoint professional executors. These professional executors can be very expensive. In many cases companies (and solicitors for that matter) offer loss leading wills (at say £50 for mirror wills) to tempt the client into purchasing the executor/probate services - these services often carry fees of several £1000's when in fact a family member can sort the estate out.

Your will is an important document. You can save money now but in the longer term your estate can pay.

As I stated earlier I do not know about the Wills Register and can therefore only comment from their available literature and their website and my experience in general.

I personally would recommend you seek out someone who offers a face-to-face service; the costs may be slightly higher but so to will your peace of mind.

andyd

Cancer Research UK have operated a Free Will service for several years now which allows anyone over 55 to have a will prepared by a solicitor free of charge or wills for a couple as long as one of them is over 55.

There's no obligation to leave anything to Can Res in your will although most people do in my experience.

I'm a solicitor in Manchester and my firm have been involved in this scheme for several years and there are no catches or hidden charges although Can Res will only pay the solicitor the cost of a "standard" will (max of £100 +VAT for one will or £150 +VAT for a mirror will) and not the much increased charge for an Inheritance Tax saving will. The maximum fee paid will however usually cover the vast majority of wills that would be required.

HERE is the link to the Can Res website and I imagine they'll be able to provide details of a solicitor in your area who takes part in the scheme.

Biggles

I enquired of our solicitor and the suggested cost was £150+VAT for simple mirror wills and £450-600+VAT for ones incorporating a Discretionary Trust to avoid IHT.

I am presently considering www.tenminutewill.co.uk, which charges £79.95 for the latter and seems very professional for an online service (unless anyone knows different!).

tankard_2

Biggles wrote: »

I enquired of our solicitor and the suggested cost was £150+VAT for simple mirror wills and £450-600+VAT for ones incorporating a Discretionary Trust to avoid IHT.

That's the sort of price I've been quoted, which is crazy when all we are doing is leaving our worldly goods to each other (the surviving spouse). Surely this IHT milarky doesn't kick in until there is only one of you left.

Biggles

tankard wrote: »

Surely this IHT milarky doesn't kick in until there is only one of you left.

No, that's where the Discretionary Trusts come in. Time to do some more reading, Tankard. Have a look at the website I mentioned, it does give a good explanation of why you need to do it before the first death.

Willman_Rodders

Biggles,

Out of all the sites I have looked at the '10-minute Will' appears to be one of the most professional. A couple of observations though ...

1. The printing and binding of your will is extra (to the fees you quoted.) Many people using internet sites download their completed will for printing on their own printer and then staple their document together. This is not a secure fastening, and could allow the will to be easily tampered with. Any suggestion of such will result in the Probate Office rejecting the will.

I (personally) would strongly suggest that you take up their printing service, if you do decide to use them - but then their costs for standard wills become comparable with a face-to-face discussion with a solicitor/will writer (who will save you the time of reading up on your options and should just discuss those relvant to you) and you are doing all the typing and input of information.

2. The site explains about the benefits of the discretionary trusts; it does not highlight (or at least it did not the last time I studied it in depth) the risks of including these trusts in your will. And there are risks you should be aware of.

localhero

Solicitors quite often have a vague fee structure and don't usually wish to visit the client. There is also no guarantee that the solicitor will be very good.

Care is also needed when considering a willwriter as there are also a lot of cowboys around. I would avoid on-line willwriters at all costs as there should always be a face to face consultation.

The institute of Professional willwriters is the professional body that has a list of members in your area. All members have passed an entrance exam in Wills, are up to date with the law, are insured and regulated. They will also have a fixed fee and offer home visits.

Visit www.ipw.org.uk or call 08456 442042 for a list of members.