Straightforward and pragmatic advice
The Importance of Writing a Will
Many people believe that they are too young or simply not rich enough to need a Will or without a Will that their assets will pass to their spouse anyway.
Whether a Will is straightforward or complex, everybody needs one. Not having a Will can lead to complications, additional expense and delays in the settling of your estate. Furthermore, a poorly written Will can sometimes be more detrimental than no Will at all with the potential for detrimental tax consequences or for example, a step child being inadvertently overlooked. Wills don’t just deal with the division of your assets but also allow you to appoint Guardians for any young children, nominate a carer for your pet or leave a legacy to charity.
We will take you through the process of preparing a Will and can advise you on what you need to do so that your wishes are carried out with the minimum of administration and without paying more tax than is necessary.
It is important to review your Will every few years to ensure that it still meets with your wishes. You may be concerned about a situation arising in the future when you are unable to communicate your wishes about medical treatment. We can prepare a Living Will for you.
We are always happy to discuss the service we provide to you and, at that time, the fees and outlays payable. However, we believe that making information readily available to clients and potential clients about fees and costs is helpful when instructing us.
Wills
Our fees will depend on the complexity of the Wills which are prepared for you and this will be confirmed at our initial meeting once it becomes clear what type of Will you require. To provide some guidance, however, the cost of one straightforward Will will be £350 plus VAT. If there are numerous legacies or trust provisions, for example, for young or vulnerable beneficiaries, the cost will increase to reflect the requirement for bespoke drafting and additional advice and is by and large based on the time spent. It is to be anticipated that the fee for a more complex Will will be £600 plus VAT. The fee for basic mirror Wills for a couple will be £500 plus VAT and, again, if there are more complicated instructions and provisions, the fee will increase to approximately £800 (for both Wills) plus VAT.
Inheritance Tax planning and general succession advice will be charged separately on an hourly basis. Our hourly rates are: for a partner £295 plus VAT; for a consultant £245 plus VAT; for a solicitor £225 plus VAT; for a paralegal £210 plus VAT; and for a trainee £155 plus VAT.
Coping with a Bereavement
We appreciate that the period after a bereavement can be a very difficult time. We have a great deal of experience of this and are here to help with practical guidance and assistance. Often we are asked to organise the funeral and make other arrangements for the family. Whether there is a Will or not we ensure that all aspects of the executry estate are dealt with promptly, professionally and in a discreet and sympathetic manner.
