If you are under the age of 50 and in good health and if you have a small estate, a simple will be the correct choice for you.
A Living Will is for recording your wishes regarding any future medical care or treatments during your lifetime. A simple will or any other will should be made for inheritance matters.
In England and Wales, Married and unmarried couples use Mirror Wills (separate but identical legal documents) to write similar wishes in their respective wills.
A Trust is a legal structure which can be included as part of your Will and can offer increased asset protection for your loved ones. These types of Wills are called Trust Wills. We would always recommend that you consider the benefits of setting up a Trust as part of your Will. They are most commonly seen in the following circumstances:
If you wish to protect your estate against possible care fees in the future, if you have a spouse or partner but children from a previous relationship or if you wish to leave some of your estate to a vulnerable or disabled person etc., then trust wills would be the correct choice for you. This is best for offering increased inheritance protection.
Complex Will is will which is tailored to the needs of persons where several complexities may arise, for example, of divorced persons with children from a previous marriage. Is designed for those who have been divorced and have children from a previous marriage which when it comes to making the Will it may present complexities.
A codicil is a document similar to will which allows to amend an existing will and that needs to be signed and witnessed in the same way as a will.
You should use codicils to make small changes like when someone named in your will dies, you have children or grandchildren, you might want to change who gets what, you get married, you get divorced etc.
You shouldn’t alter the original will document. If you want to make big changes, it is better to write anew will which will revoke the previous will.
A new Will
Writing new will is as same as writing will for the first time, however, your new needs to clearly say that it revokes any older wills or codicils.
Wills involve trusts and overseas property and also include tax planning advice.
Life interest trust Wills
This is a Trust which allows the assets within the Trust to be either invested or retained for the benefit of the surviving spouse.
Please note our fixed fees and quotes do not include VAT, as VAT is not applicable to our business.
All of our Will & Codicil fixed fee services include:
– Considering information provided by the client such as details of property, accounts, shares, chattels etc.
– Drafting of the Will/Codicil
-Checking over the draft alongside the client to explain aspects and to see if any changes need to be made or if any additional information needs to be added
– Signing of the Will by our specialist solicitor
Our Will & Codicil services do not include:
– Storage of the Will/Codicil.
Please refer to our fixed fee price list for Wills & Probate for further information.
Cost to make a Will:
The fees for making a will can range from £500 for a Standard/simple will to more than £3000 for a pair of complex Wills.
Codicil: £200 (single codicil); £300 (pair of codicils)
Cost to make a Lasting Power of Attorney:
Our fixed fee packages include the registration of the Lasting Power of Attorney. Our packages are:
– A single Property and Affairs Lasting Power of Attorney document – £582 (including £82 Court fees)
– A pair of similar Property and Affairs Lasting Power of Attorney document – £864 (including £164 Court fees)
– A pair of Health and Welfare Lasting Powers of Attorney document – £582 (including £82 Court fees)
– A pair of similar Health and Welfare Lasting Powers of Attorney document – £864 (including £164 Court fees)
– A pair of similar Property and Affairs Lasting Power of Attorney document PLUS a similar Health and Welfare Lasting Powers of Attorney document – £1328 (including £328 Court fees)
Cost to register an Enduring Power of Attorney:
The fee for registering an Enduring Power of Attorney, following loss of capacity, is £582 (including £82 Court fees). Registration takes approximately three months.
Cost to apply for probate:
Grant only service (available only where no inheritance tax is due): £2000 to £3000
Full estate administration service: £3000 to £5000 (for straightforward estate), whilst fees for complex estates can exceed £15,000.
Fees for setting up a trust:
A bare trust holding cash: £1000
A lifetime discretionary trust or life interest trust to hold cash or investments: £1000
Fees for declaration:
Simple declaration: £500
Pair of declaration (couple): £700