Making a Will

Emmia

https://forums.moneysavingexpert.com/discussion/comment/82175763#Comment_82175763

The solicitor we used stores them for free. Storage fees are usually associated with will writers, who should be avoided with a long bargepole.

The other storage option is using the storage offered by HM Courts and Tribunals Service

https://www.gov.uk/government/publications/store-a-will-with-the-probate-service/how-to-store-a-will-with-the-probate-service

Emmia

https://forums.moneysavingexpert.com/discussion/comment/82175689#Comment_82175689

I paid £250 for mine (London) a couple of years ago. It's a straightforward will with a solicitor - everything to husb, then if he died first divided between nieces and nephews.

If you think that's expensive, please think about the cost in relation to the value of your assets - the will is only needed after you pass, at which point you'll be unable to answer questions, resolve disagreements etc.

FlorayG

https://forums.moneysavingexpert.com/discussion/comment/82175689#Comment_82175689

If it's simple, you can get it for free. Just make sure the charity you go through lists actual solicitors and not just "will writers"

Ms_Chocaholic

Also look at changing your property ownership to Tenants in Common and the pros/cons of this - it's worthwhile looking as if one of you needs to go into a care home down the line it can protect part of your inheritance. If you google it to understand it more but make sure you discuss this with your solicitor.

In terms of LPOA - if you've got the nounce to post on here then you can easily do this yourself and save yourself a fortune. Have a look online on the Gov website, you can start it on there, delete it and start again as many times as you want. A solicitor will charge over £800 for this but many many people do this themselves. Just one hint - get everyone to sign it with the SAME DATE to avoid the application being rejected.

Keep_pedalling

https://forums.moneysavingexpert.com/discussion/comment/82175886#Comment_82175886

Doing that changes simple mirror wills to more complex ones that create a trust on the first death. Worth considering but likely to push the cost of a pair of wills into four figure territory plus the cost of changing the land registry.

NedS

https://forums.moneysavingexpert.com/discussion/comment/82175925#Comment_82175925

Agreed. For reference, we recently paid around £1100 for mirror wills including an IPDI trust for the property, using a local STEP-qualified solicitor.

We made the change from Joint Tenants to Tenants in Common with the Land Registry ourselves.

For the OP to consider, leaving your share of the property in an IPDI trust to your children would protect against the scenario where you otherwise die first leaving everything you your partner who later (re)marries and dies with everything going to their future partner and nothing to your children. Given the value of your property, it's £1k well spent.

Ms_Chocaholic

https://forums.moneysavingexpert.com/discussion/comment/82175925#Comment_82175925

Yes it does but it's best to consider all options