THE COST OF MAKING A WILL
What’s involved in the drawing up of a Will?
In essence, drawing up a Will involves answering the following 5 key questions:
1/What do I own?
2/How much is it worth?
3/What do I owe to others?
4/Who do I want to inherit my assets?
5/Who can I trust to administer and supervise the process?
Instructing a Solicitor with Will drafting
One you have answered the 5 key questions, all that’s left is the drafting, signing, safekeeping and updating of your will, the latter becoming necessary if and when you face significant changes in your personal circumstances. It’s with these four steps that a Solicitor is likely to really make a difference. Whilst you will find dozens of will templates online - many of them free - there is no guarantee that they will provide the level of legal protection required to safeguard your and your beneficiaries’ interests. The cost of a simple single Will from a Solicitor is likely to be in the low hundreds, an amount which, whilst not insignificant for some, will represent a very small proportion of the value of most people’s estates.
If you are ready to answer your 5 questions and make a will, Contact our expert succession team in Dundee, Brechin or Cupar. You can also email email@example.com. Enquiries are re-directed to the relevant local specialists in your area.
How much does a will cost?
We like to be transparent with our prices. A simple Will produced by the Chamber Practice costs £300. If you and your partner intend to have mirror Wills, it makes sense to have them both done at the same as the combined cost is £450 which represents a significant discount. In a future blog, we will explain Powers of Attorney which many of our clients instruct us with, when they come to us for a Will.
There are circumstances where more complex Wills will be required, particularly when significant tax planning advice and trust arrangements are required. We would be able to provide with a quotation on request, at the start of a transaction.
Our team of specialist solicitors and paralegals are experts in Wills, Powers of Attorneys and Executry services, with a strong focus on client care. Click here to contact our offices in Dundee, Brechin and Cupar.