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Why? Because they have compulsory levels of insurance to cover an errors in the drafting of it.
Some banks will offer to do it for a low price, or even for "free" - usually that means the bank has inserted themselves as Executors into the will meaning they can charge for the work in administering the estate after you die.
Do not use "Will writers" and other such unregulated services where insurance is not compulsory.
Many people do their own wills. A huge amount of those wills end up being at least partially defective where there is partial intestacy and then there are additional costs to deal with that will be payable from your estate when you die.
There's a good chance you will never know if your will is valid because they don't get challenged until after you are dead. But the cost of defending any challenges comes out of your estate, lowering the amount you eventually leave to your loved ones.
Get a probate solicitor to do it. Don't think of the fee as the fee for preparing the document - think of it as buying access to a massive insurance policy that might benefit your loved ones if the will hasn't been done properly.
I’m so bored I might as well be listening to Pink Floyd
It usually only hits hourly rate work for complex estates with uncommon pensions / investments etc
£500 budget should be plenty in most cases - with a caveat that London firms are often a bit more expensive to cover the overhead.
I’m so bored I might as well be listening to Pink Floyd
I’m so bored I might as well be listening to Pink Floyd
As above there’s a Will Aid service that runs every year where you can get it done free in return for a donation to charity. You’ll need to sign up in advance as it gets busy. https://www.willaid.org.uk/
I think we paid about £60, but that was some years ago.
Having said that, me and the Mrs need to do something. I was hoping for more like the £50 mark ....
The main thing we want writing into the will is if we do happen to go together while the kids are young, under no circumstances can her family look after the kids. We both want my sister to have that responsibility - I’m assuming that’s doable?
I just tried the link I used for a free will and it seems like it’s still active: https://farewill.com/?utm_source=metro&utm_medium=newspaper&utm_campaign=metro&utm_channel=dmgt_metro
There’s no doubt that a proper solicitor would be beneficial if theres anything in your will that could be contested by anyone.
The firm I work for tends to see Wills as a loss leader in an effort to build up their Wills bank and be instructed on the probate or administration.