DIY Will and Power of Attorney

Albermarle

badmemory said:

A good solicitor will ask you so many what if questions when doing a will that they are well worth it.  Paying treble that for a POA however when all they can do is read the questions off the page, unless your circumstances are very complicated, seems a lot of money for very little help.

In normal circumstances you are right that paying a solicitor to do a POA is a waste of money.
However if there is a question mark over the Donors mental abilities, and that their agreeing to make you a PoA maybe comes under question at a later date, it would probably be better to get a professional in to sign as the Certificate Provider.
This has to happen in Scotland AFAIK.

missile

Emmia said:

missile said:

Many charities offer free will writing service

Usually in expectation of a bequest...

It is not a requirement.
Many of us choose to gift money to charity whilst we are alive.
When I die, I am happy to gift the cost of a will to charity.

Emmia

missile said:

Emmia said:

missile said:

Many charities offer free will writing service

Usually in expectation of a bequest...

It is not a requirement.
Many of us choose to gift money to charity whilst we are alive.
When I die, I am happy to gift the cost of a will to charity.

I'd think they'll be after more than the £250 it cost to draft mine!

Personally I'd prefer to pay upfront, and gift to charity, without feeling bound to do so because they gave me a "freebie" - but it's a choice.

mrsorganised

I too am completing a will at the moment. I shopped around , asked how much they charged. So I opted for the one that charged £100 less. I know there’s no pockets in shrouds lol

louby40

I'm just in the process of changing my will. It's costing me £350 but I feel it's money well spent. She went through my finances and advised me that once you get to £500k you're beginning to be liable for inheritance tax. I didn't know that. 

She asked me lots of questions and gave me advice on many things. My will is pretty straightforward too but I wouldn't feel comfortable having a DIY one.

She talk about POA and it would cost  £750+Vat for mine, if my partner and I did it together it would a bargain at £1,000!!! I don't think so. You can definitely do POA yourself online. What an absolute rip off. 

Albermarle

louby40 said:

I'm just in the process of changing my will. It's costing me £350 but I feel it's money well spent. She went through my finances and advised me that once you get to £500k you're beginning to be liable for inheritance tax. I didn't know that. 

She asked me lots of questions and gave me advice on many things. My will is pretty straightforward too but I wouldn't feel comfortable having a DIY one.

She talk about POA and it would cost  £750+Vat for mine, if my partner and I did it together it would a bargain at £1,000!!! I don't think so. You can definitely do POA yourself online. What an absolute rip off. 

Inheritance tax: latest thresholds for 2023/24 - MoneySavingExpert