Cost of Wills

10 Posts

My partner and me are making wills. We are having a disagreement over how much it should cost. I have had a quote for £225 + VAT per will. They feel it should cost between £100 and £150 plus VAT. My quote is from a solicitor recommended by my financial advisor theirs is based on what their parent paid for a fairly simple will in the last few years. I basically want a good job done correctly the first time which will prevent any unpleasantness in the event of death and want to get on with this without prevaricating as it is a task we have put off for too long; they want to shop around to save money.
Our wills will not be mirror wills.
My partner's will go: me entire except 1 asset to their sibling > entire estate to their sibling > if sibling predeceases me entire estate to me except 1 asset to charity > entire estate to charity
Mine will go: entire estate to partner > entire estate to my sibling > estate divided equally among young relatives to be kept in trust for either a) university education b) they reach the age of 30 > entire estate to charity
It is likely we will want to update our wills more than once during our lifetime e.g. if we decide to marry, sell the asset, other relatives predecease or reflecting the character and financial fortunes of the young relatives.
Can anyone advise how much we should expect to pay for the above? Thank you in advance.
Our wills will not be mirror wills.
My partner's will go: me entire except 1 asset to their sibling > entire estate to their sibling > if sibling predeceases me entire estate to me except 1 asset to charity > entire estate to charity
Mine will go: entire estate to partner > entire estate to my sibling > estate divided equally among young relatives to be kept in trust for either a) university education b) they reach the age of 30 > entire estate to charity
It is likely we will want to update our wills more than once during our lifetime e.g. if we decide to marry, sell the asset, other relatives predecease or reflecting the character and financial fortunes of the young relatives.
Can anyone advise how much we should expect to pay for the above? Thank you in advance.
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£225 is quite reasonable.
I think this is one of those areas where trying to save money is a false economy. Where the solicitor earns their keep is by asking lots of 'what if' questions and outlining scenarios where your plans don't cover them. It's that initial meeting and first draft that cost the money.
Take a piece of paper with you already printed with all the names and addresses of the parties concerned - and check all spelling and you'll need full middle names too. Don't forget executors and alternatives for those.
Go with your gut to some degree - how so they sound when you ring and enquire. My sister's just done hers and when she rang a firm recommended by several work colleagues, the receptionist - when asked if she'd any appointments in 2 weeks time when my sister was taking some leave - responded by actually guffawing and saying "you're optimistic, we've no appointments for months". Needless to say, she went elsewhere - pretty much the same response, but put rather more politely. So also be aware that solicitors are snowed under at the moment and you may need to wait.