Making a will is a crucial step in ensuring your assets are distributed according to your wishes after your death. However, many people hesitate, wondering about the cost involved. At Blackstone Solicitors, serving clients across England and Wales, we believe that understanding the cost of making a will is essential for informed decision-making. This article will break down the various factors that influence the price and provide a general overview of what you can expect to pay.
Please click here to find out more about our Private Client services
Free Initial Telephone Discussion
For a free initial discussion with a member of our New Enquiries Team, get in touch with us today. We are experienced in dealing with all the legal aspects of Wills and Probate and once instructed, we will review your situation and discuss the options open to you in a clear and approachable manner. Early expert legal assistance can help ensure you are on the best possible footing from the start and also avoid the stress of dealing with these issues on your own. Simply call us on 0345 901 0445 or click here to make a free enquiry and a member of the team will get back to you.
Factors Influencing the Cost of a Will
The cost of making a will can vary significantly depending on several factors. These include:
- Complexity of Your Estate:
– A simple will, covering basic asset distribution, will typically cost less than a complex will involving trusts, multiple properties, or overseas assets.
– If your estate includes business interests, significant investments, or complex family structures, the cost will likely be higher due to the increased legal expertise required.
- Type of Will:
– A basic single will is generally the least expensive option.
– Mirror wills, designed for couples with similar wishes, may offer a slightly reduced rate compared to two individual wills.
– Wills involving trusts, such as discretionary trusts or life interest trusts, will incur higher costs due to the added complexity of setting up and managing these structures.
- Solicitor’s Fees:
– Solicitors’ fees can vary based on their experience, location, and the complexity of your case.
– Some solicitors charge a fixed fee for standard will writing services, while others may charge an hourly rate for more complex matters.
– The reputation and expertise of the law firm will also influence their fees.
- Additional Services:
– If you require additional services, such as inheritance tax planning, estate planning, or advice on mental capacity, these will incur extra costs.
– Home visits or out-of-hours appointments may also add to the overall expense.
- Storage:
– Some solicitors offer will storage services, which may involve an annual fee.
– Alternatively, you can choose to store your will at home or with a professional will storage company.
General Cost Estimates
While exact costs can vary, here’s a general overview of what you might expect to pay:
- Simple Single Will:
– For a straightforward will, you might expect to pay between £150 and £400 plus VAT. This covers basic asset distribution and the appointment of executors.
- Mirror Wills:
– Mirror wills for couples typically cost between £250 and £750 plus VAT. This represents a saving compared to two individual simple wills.
- Complex Wills:
– Wills involving trusts, complex estate planning, or inheritance tax advice can range from £500 to £1,500 or more plus VAT. The cost will depend on the complexity of the case.
- DIY Wills:
– DIY will kits or online will writing services may seem like a cost-effective option, but they can lead to errors and disputes. The potential costs of these errors far outweigh the initial savings.
Why Professional Legal Advice is Worth the Investment
While DIY wills or online services may appear cheaper, they often lack the crucial legal expertise needed to ensure your will is valid and reflects your wishes. Investing in professional legal advice offers several benefits:
- Legal Validity:
– A solicitor will ensure your will is legally sound and meets all the necessary requirements, minimising the risk of challenges or disputes.
- Expert Advice:
– Solicitors can provide expert advice on complex issues, such as inheritance tax planning, trusts, and estate planning.
- Personalised Service:
– A solicitor will take the time to understand your individual circumstances and tailor your will to your specific needs.
- Peace of Mind:
– Knowing your will has been drafted by a professional provides peace of mind that your wishes will be carried out as intended.
- Avoiding Costly Mistakes:
– Errors in DIY wills can lead to costly legal disputes and unintended consequences.
Blackstone Solicitors: Transparent and Competitive Pricing
At Blackstone Solicitors, we understand the importance of transparent and competitive pricing. We offer clear and upfront cost estimates, ensuring you know exactly what to expect. We provide a range of will writing services to suit your individual needs and budget, including:
- Simple Wills:
– For straightforward asset distribution.
- Complex Wills:
– Involving trusts, inheritance tax planning, and complex estate structures.
- Mirror Wills:
– For couples with similar wishes.
- Will Reviews:
– To ensure your existing will is up-to-date and legally valid.
We believe that everyone should have access to professional will writing services, regardless of their budget. Contact Blackstone Solicitors today to discuss your will writing needs and obtain a personalised cost estimate. We are committed to providing expert legal advice and ensuring your peace of mind.
We have a proven track-record of advising upon all aspects of private client work. We will guide you through the process and ensure all checks are carried out swiftly and efficiently and we firmly believe that with the right solicitors by your side, the entire process will seem more manageable and far less daunting.to incorporate, what kind of ownership
How to Contact Our Private Client Solicitors
It is important for you to be well informed about the issues and possible implications of writing a Will. However, expert legal support is crucial in terms of ensuring a positive outcome to your case.
To speak to us today, simply call us on 0345 901 0445, or click here to make a free enquiry. We are well known across the country and can assist wherever you are based. We also have offices based in Cheshire and London.
Disclaimer: This article provides general information only and does not constitute legal advice on any individual circumstances.
Comments are closed.
