Drawing up a Will is one of the most important things you can ever do. It gives you peace of mind knowing that your loved ones will share in your estate after your death in the way you would want them to.
When we draw up a Will for a client, this might be either a straightforward Will or a more complex Will. In addition, discounts are available when a couple prepares mirror Wills. This is where the wishes of one party are reflected in the Will of the other party. However, we would advise against mirror Wills where either of the parties has children from earlier relationships. We are happy to meet with you and discuss options in such circumstances.
The costs for creating a straightforward Will are as follows:
| Cost of drawing up a straightforward Will | |
| Legal fee | £250.00 |
| Compliance fee | £30 |
| VAT | £56 |
| Estimated Total | £336 |
| Cost of drawing up a straightforward Mirror Wills | |
| Legal fee | £400.00 |
| Compliance fee | £50 |
| VAT | £90 |
| Estimated Total | £540 |
More complex Wills tend to be those involving additional clauses, such as guardianship for young children. Alternatively, they may be Wills where more detailed advice is sought and consideration given in relation to legacies or limiting inheritance of or disinheriting beneficiaries.
The costs for creating a complex Will are as follows:
| Cost of drawing up a complex Will | |
| Legal fee | £350.00 |
| Compliance fee | £30 |
| VAT | £76 |
| Estimated Total | £456 |
| Cost of drawing up complex Wills (couples and partners) | |
| Legal fee | £550.00 |
| Compliance fee | £50 |
| VAT | £120 |
| Estimated Total | £720 |
What’s involved in making a Will?
This fee for the preparation of your Will includes the following work:
- taking your instructions,
- providing advice as appropriate to your requirements
- providing advice on legal rights
- preparing a draft Will for you to review,
- making changes following review,
- complete execution of the Will,
- storage of original will in our secure storage facility and
- providing you with two copies of your will.
Does this cost include everything?
Our fixed price mentioned above does not include:
- work associated with lifetime trusts such as drafting trust deeds,
- advice and work associated with bankrupt or otherwise vulnerable beneficiaries,
- advice on inheritance tax,
- preparing the transfer of heritable property (buildings and land) into a trust.
Our fee for your Will only covers the services we’ve listed above. Your Will is personal to you. We are happy to carry out additional work to meet your requirements and will discuss this with you as well as the potential increased costs should such a situation arise.
If you would like further information or wish to discuss drawing up a Will, please get in touch.