Make A Last Will Online.
Or just give us the basic information before a discussion.
Ideally, everyone would get professional advice on making such a vital document as a Last Will and Testament. As experts, we recognise that some people have uncomplicated lives. So we offer a couple of options.
- You can do the whole thing online, and the Will or Wills will be emailed to you to print out, bind and sign. That is cheaper, £79 for a single Will and £135 for mirror Wills. We have no involvement and can offer no advice if you take this route, though there is online help.
- You can put in the basic background details needed to minimise the amount of time you need to spend discussing your situation with our professionals, pay the fee above then contact the office to pay the balance of the fees for normal Wills which are £159 for a single Will and £235 for a pair of mirror Wills. (That is £80 and £100 more). The office will then download the information you have entered and make an appointment for to discuss the issues over the phone.
- If the situation is more complicated, then the following will give you an idea of the options.
Here is the link to our Online Will Writing Service. It is on a separate secure server for your protection.
Existing Peace of Mind Service members save 25% on making a Will.
|FEES including VAT at 20%||One person||Two similar Wills|
|Normal “Family” Wills||£159||£235|
|Property Trust Wills||£379||£497|
|Flexible Life Interest Trust Wills||£697||£900|
|Tax Planning Will with business trusts||£1065||£1297|
Types of Will
Normal Family Wills (“mirror wills”)
Typically leave everything to each other and then the children. This often causes problems later on in life, which is why the next type of Will should be considered.
Property Trust Wills
· This is where the deceased’s share of the property is put in trust for the benefit of the survivor during their lifetime, but the capital is ring fenced for the beneficiaries of the person who has died.
· This protects their capital from being used up in care home fees for the survivor.
- The survivor may become vulnerable in old age and be persuaded to leave everything to – for example – a carer. This type of Will protects at least the deceased person’s share which is held in a protective trust.
· Especially useful where there are children from different relationships to be taken into account, since you can look after your partner during their lifetime AND eventually pass your assets to your intended beneficiaries.
· If the survivor is lonely and remarries, the deceased’s share of the property is ring fenced and cannot be inherited by the new spouse and their children or any other of the surviving spouses chosen beneficiaries (e.g. step children.) With much longer lives, remarriage late in life is increasingly likely. This type of Will keeps things fair to everyone.
- These trusts can be used strategically to save inheritance tax. Please ask for a paid consultation with Ingrid McCleave our Head of Legal, if inheritance tax is a problem for you.
Flexible Life Interest Trust Wills
This is very similar to the Property Will Trusts above, except you put all your assets into the trust, not just your share of the property. This gives your whole estate the protections described above.
So for example, if you have your share of the home and say £200,000 cash, your home and the cash will be ring fenced and your surviving partner would have the right to income from the cash and rent from the property if it was let and the right to reside in the property if they wanted to continue living in the property or move. In addition, you could if you so wished give them access to capital sums should they require them, with the agreement of your executors.
More in-depth advice is needed, where Wills include business related assets (to save inheritance tax and sometimes capital gains tax), foreign nationals or advice on overseas matters.
Please feel free to include a note about any other issues you wish us to consider.
Appendix 2 MONEY laundering – please send these along with your fee for advice.
Legislation in force places an obligation upon experts to verify the identification of their clients. Such verification may take the form of an online identity check. To complete this check we will require the following:
A) Your driving licence number or a photocopy of your driving licence
The long number at the bottom of your photo passport page, which is a long number and chevrons (not your passport number). We require the numbers and the chevrons as displayed on your passport. or a photocopy of your passport photo page
B) Your current full address including post code, your date of birth. Payment by cheque or card in your name and at the address you have given us
As you are a client of the firm we must follow this money laundering procedure, failing which we run the risk of criminal charges being brought against us and in extreme cases, a prison sentence.
Appendix: We need to raise this topic: No Lasting Power of Attorney?
If there are not already Lasting Powers of Attorney in place, someone must apply to the Court of Protection to be your Deputy should you lose mental competence through age, serious illness or accident. The cost of this is likely to be well over £1,000 and sometimes far more. The majority of applications for Welfare LPAs are turned down, essentially leaving welfare decisions (such as where you live, medical matters to Social Services rather than the family. Existing (old) Enduring Powers of Attorney remain valid and are similar to a Finance LPA.
Before you decide not to have the Health and Welfare LPA, Google “Heather Bateman” and “Betty Figg” – you will be shocked at how your children could be jailed for looking after your best interests but without the authority they could have with Lasting Powers of Attorney. 6 months jail for taking your mother out of a care home she hated to your home which she loved is just wrong.
Lasting Powers of Attorney cannot be used until they are registered, at a Court fee of up to £110 each
Registration is important for two reasons:
- 1) It takes at least 3 months, which is a long time to wait after an accident.
- 2) Because the Public Guardian can be very particular, LPAs can be rejected for minor errors: if you have lost the ability to make decisions at that time, it may be too late to do anything about it, and the alternative of applying for Deputyship is expensive and time consuming.