Simple Will

eastcorkram

Will be 66 this year. Have no will, so figure I should write one.  It'd be a pretty simple affair. I don't have any specific items to leave. No property. So it's basically cash in bank accounts. The vast majority of my money is in a SIPP, which as yet, has not been touched. I have filled in the beneficiaries form for that, so I presume I don't even mention that in a will? So just leaves a few bank accounts with various banks. 

I've read on here that it's best done with a solicitor, rather than a will writing company. That looks like it's going to cost around £450. Is this about right, given how simple the will would be? 

Flugelhorn

you could look at the charities who offer will writing in exchange for a donation - complexity tends to depend on who and how many beneficiaries there are and how they are related and what happens if they all predecease you 

Emmia

eastcorkram said:

Will be 66 this year. Have no will, so figure I should write one.  It'd be a pretty simple affair. I don't have any specific items to leave. No property. So it's basically cash in bank accounts. The vast majority of my money is in a SIPP, which as yet, has not been touched. I have filled in the beneficiaries form for that, so I presume I don't even mention that in a will? So just leaves a few bank accounts with various banks. 

I've read on here that it's best done with a solicitor, rather than a will writing company. That looks like it's going to cost around £450. Is this about right, given how simple the will would be? 

It shouldn't cost anything like that. I spent £250 on mine a couple of years ago. 

Morally at least, don't use the charity service if you can afford not to, and don't intend to leave them anything in your will.

Teapot55

Making a ‘lasting power of attorney’ is also a good idea. 

It’s not saying you’re ever going to become incapable of managing your own affairs (bank account, bills etc) but nowadays organisations won’t deal with a well-meaning friend, neighbour or family member unless the person has already officially nominated them to manage their affairs should the worst happen. You can also do a ‘lasting power of attorney’ for health matters, for example someone talking to a doctor on your behalf. The doctors won’t give any information out otherwise unless the person asking already has your permission. 

You don’t need a solicitor usually to do a ‘lasting power of attorney’. It’s a bit of a ‘faff’ and takes some time to get your head round it and to do the paperwork, but it’s well worth doing for peace of mind. Also saves a huge amount of trouble down the line if you did lose ‘capacity’ in the future. 

It’s quite likely that a solicitor will ask you have you done lasting power of attorney for finances and health if you do go and see them about making a will. 

boingy

There is a halfway house between free wills and full-on solicitor wills. Co-op Legal Services will do a simple will for about £150 and store it for free. Some on here like them and some don't but it is another option, especially for a straightforward will.

Emmia

boingy said:

There is a halfway house between free wills and full-on solicitor wills. Co-op Legal Services will do a simple will for about £150 and store it for free. Some on here like them and some don't but it is another option, especially for a straightforward will.

They're will writers, and it won't be drafted by a qualified solicitor. 

boingy

Emmia said:

boingy said:

There is a halfway house between free wills and full-on solicitor wills. Co-op Legal Services will do a simple will for about £150 and store it for free. Some on here like them and some don't but it is another option, especially for a straightforward will.

They're will writers, and it won't be drafted by a qualified solicitor. 

Unlike most other will writers, they are authorised and regulated by SRA - the Solicitors Regulation Authority.
They are also likely to still be around when the will is needed, unlike many will writers and, indeed, some solicitors.

Like I said, it's another option for the OP to consider.

Another option is to look for companies that support Free Wills Month, which is usually March and October.

RAS

Another option for storage of wills is the HMCTS service. It does cost £22 unless you are eligible for help, but it's not likely to be going anywhere, get taken over or go out of business. You should probably share the the lodgement certificate with your executors.

YorksLass

Another vote for Co-op Legal Services.  DH and I did simple mirror Wills with them last year, over the phone, at a joint cost of £245 with free storage.  

eastcorkram

YorksLass said:

Another vote for Co-op Legal Services.  DH and I did simple mirror Wills with them last year, over the phone, at a joint cost of £245 with free storage.  

How does that work over the phone , with regards to things being witnessed and signed? 

p00hsticks

eastcorkram said:

So just leaves a few bank accounts with various banks. 

Proabably not a popular view here, but another possible option given the OP's likely estate and depending on who they want to leave it to is not to bother with a will at all and jut leave it to the intestacy laws of whichever country they live in.

 In my view, a PoA should take priority over a will when considering what to put in place, as not having the former could severely affect you whilst still living.