Cost Of A Will

[DaisyNonna]

What is the going rate for a simple will which stipulates all money and possessions to be shared equally between two children?

[tamborine]

It depends on size & complexity of the Estate. My advice is to give a copy of your Will to beneficiaries

[DaisyNonna]

How is splitting the estate equally between 2 children complex? No house, no car, just what is in the bank.

[Connemmara]

daisy nonna - just do as hc4361 suggested - I did that in 1994 but need to update it as some of my relatives have passed away. It won't cost you anything just the trust of your witnesses.

[factor-fiction]

Okay it's not complex and it's unlikely anything can go wrong. Decide what you think is a fair price (£30? £50? £70). Then keep looking until you find someone who'll do it for that. If you don't find anyone, use a DIY will.

[tamborine]

HCs Will should suffice but give kids a copy as bank wont release monies till after probate

[Connemmara]

factor - isn't that what I suggested maybe our posts crossed.

[Connemmara]

Tambo definitely am not au fait with the law - but if there is a will surely it shouldn't go to probate at all.

[tamborine]

Banks need proof before they disburse others assets, probate gives proof.

[factor-fiction]

Our posts did cross, Connemara, although I was saying what I'd already said earlier which is that you should shop around and if you feel the professionals don't offer value for money then use a DIY will- but Daisy never seemed to like what i said

[FredPuli43]

Hc, the witnesses have to state that they signed in each other's presence and in the presence of the testator,for one thing ! And nobody puts "being of sound mind" in a will, if they ever did in England, because it would be self-serving statement which does not prove itself ; a person of unsound mind could put that; and it doesn't serve to prevent the will be challenged for lack of testamentary capacity.And, for the avoidance of doubt, it is customary to put "and I hereby revoke all wills and testamentary dispositions made by me", or similar words, after "last will and testament"

[DaisyNonna]

Wanted a professional but had no idea of the charges.
Pity I could not charge the same rates as a teacher.

[FredPuli43]

And, Ladybirder, I wasn't referring to your example but only generally.

[EcclesCake]

Daisy Nonna, as well as what is in the bank what about your goods and chattels how are they to be divided?

As has been said what happens if one of your children predeceases you, will their share go to their children or would you prefer it went to your remaining child?

I wouldn't dream of handing over money to a will writer that didn't ask questions, whatever they charge that could never be considered good value for money.

[DaisyNonna]

Goods and chattels? They would have to pay someone to take them away.
Predecease? Oooh. Something the supposed expert solicitor never even mentioned!

[hc4361]

Daisy, if these conditions apply to you at the time of your death:

You are not married;
You do not have a live in partner who is financially dependent on you;
You are not financially supporting one child but not the other

You do not need a will. The rules of intestacy mean that your two children will inherit equally.

[Peter Pedant]

was forty for a long time - seventy or a hundred sounds about right

hc's draft (I know I houldnt say this) sounds OK so long as there are nt any disappointed dependants ( that is other children besides the two).

having said that - I pay someone to write my will

[DaisyNonna]

hc That's me. Just wanted to do things right. Solicitor says I need to write a letter of intention. Thought that was what i was paying for, someone else to write in legalese. £100 plus VAT. 10 minutes tops. Probably same amount of time for secretary to type it. Bet she doesn't get paid per will.

[Peter Pedant]

Daisy - the forty or so answers here are of surprisingly variable quality

Fred - St Freddie in my opinion being tops as usual - I think he may have ground out wills for a living poor lost soul - didnt he also say once that he cd nt understand why he gave advice on this stream since so much money was made by the lawyers litigating do-it-youself cock-ups ? perhaps

you have easily enough advice to make a decision
this is an area where you dont say to the lawyer - oh do a crap job and give me 50% off oh and I dont want to pay VAT.......

[factor-fiction]

A good solicitor/will writer should spend more than 10 minutes. For example he/she needs to establish certain points first such as those mentioned by hc (which I mentioned yesterday as well-e.g. assets, other possible claimants as dependants, who to be executors, what happens if one or both predeceases you). You are also paying for their knowledge and expertise. Of course a good solicitor/will writer will be efficient and won't take as long as one who has less experience, so I agree that the total time won't be more than 30-45 minutes. If you feel it's too high I'd shop around a bit more.
What price do you feel is about right?

[FredPuli43]

But HC's draft IS fatally defective PP (see my post above).

Crucially, nowhere does it state that the witnesses sign in each other's presence, (nor, indeed in the presence of the testator). My own father's will was rejected for probate because the witnesses hadn't signed that they did so in each other's presence. The family had to try to find the witnesses, years after the date of the will, but, luckily, did trace one who swore to the omitted fact.The will was only admitted once that was done.

My father's mistake was to copy exactly the wording of a will form sold in bookshops.