Hiring the services of a solicitor to write your will can be very expensive if you do not know how best to go about it. On the other hand, you can save a lot of money and stress if you do it the right way. Your will must be error-free, as the last thing you want is for your beneficiaries to have a hard time understanding your intentions. Unfortunately, you will not be around to explain some parts of the will. To avoid such misinterpretations, you need to contract the expert services of a solicitor.
What Does It Cost To Make A Will?
The fees you would pay for your solicitor to draw up a will on your behalf depends on how complex it is and the solicitor’s location – city or the suburbs. If you are to draft a simple will, expect to pay within £144 and £240. However, you need to shop around to get the best deal which can save you up to £100. If the will is complex, cost can range from £150 to £300. Divorcees with children can make this type of will.
A specialist will cover oversea properties, tax planning, or trusts, and have a minimum cost between £500 and £600. Mirror wills cost less drawing up as a couple than as an individual. These costs include VAT.
Roles Solicitors Play In Will Writing
Will writing solicitors are there to explain in detail your options and help you make the right decision when making a will. They offer confidential, expert advice and create your will according to your requirements. It will suffice to state that they have your best interest at heart.
You can hire a solicitor or law firm to act as your executor. Finding the ideal solicitor is easy; check our top pick here: https://willstrustslpa.co.uk/serviceareas/will-writing-solicitors-worthing/. As an executor, they can oversee the allocation of your estate after your death. Some solicitors charge based on their time, while others take a percentage of your estate.
Why Consider The Services Of A Solicitor
If some of your assets are located overseas, like your vacation home, you will need a will writing solicitor. Business owners whose businesses are part of their estate would find the services of solicitors priceless. Solicitors also render services to individuals with inheritance TAX on properties worth more than £325,000 and married couples as well with estate values of up to £650,000.
Finally, if your position in the family is complicated, you can hire the services of a solicitor. This includes those who have children with their previous spouses and disable family members that need special arrangements.
Benefits Of A Will Writing Solicitor
Inasmuch as life must be enjoyed fully, we need to think about what happens next after our deaths. What do you intend to leave behind? Who do you wish to leave it for? These questions can be overwhelming. Therefore, we need the services of a solicitor. Here are some of the benefits you can enjoy:
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1. They Handle Complicated Matters On Your Behalf
Inheritance TAX, trusts, and other aspects of law pertaining to inheritances can be intricate and exhausting. Not everyone is familiar with these laws and can make costly mistakes when drawing a will. To avoid these problems and more, you need a will writing solicitor who understands the law and can protect your rights.
2. They Keep Your Will Safe
A solicitor does not only help you to write a will, but he also stores it in a fireproof safe. Hence, your family members can easily access it after your demise.
3. You Are Protected
In the UK, will writing solicitors are regulated by the Solicitors Regulation Authority. You can always forward your complaints to the solicitor’s firm. If they do not handle your complaints properly, you can contact their regulator.