How much does a will cost?
It is possible for you to write your will at home without paying a penny. However, there is a risk that such a will may not be legally binding, which is why you should seek legal assistance. Some charities offer basic wills for free. For example, Will Aid run an event in November each year where participating solicitors offer their will drafting services for free. This is usually limited to very basic wills. You can obtain details of participating solicitors by visiting the Will Aid website in November. Other charities who offer free wills include Cancer Research UK, The Stroke Association and The Children’s Hospital. Solicitors may charge anywhere from £100 up to thousands of pounds for a will depending on its complexity. Factors such as the following will be considered when they quote you a price:
- Marriage status
- Number of beneficiaries (people who will benefit from your will)
- Value of assets
- Overseas properties
- Tax planning requirements
- Other complex requirements
In any event, you should shop around to increase your chances of getting the best possible price. It is highly recommended you use a solicitor to write your will for the following reasons:
- If you are unhappy with the will, you can make a complaint through the solicitor’s internal complaints procedure or even to the Legal Ombudsman.
- There is more of a chance of your will being legally valid.
- Solicitors are familiar with the law and can provide you with expert legal advice ensuring you make the most effective choices.
- They can store your will safely.