How much to have a Will drafted professionally?
If you are thinking about the price of getting a Will drafted professionally here are some figures to help you consider the price ranges. They are based on the cost of basic Wills that covers gifts, appointment of guardians and setting up a bereaved minors trust.
[DIY Will kits – from £2 - £25]
Online Wills – from £50 – £300
Unqualified Will Writer – between £70 and £200 for a pair of mirror Wills
Qualified Will Writer – between £100 and £275 for a pair of mirror Wills
Solicitor – between £175 and £500 for a pair of mirror Wills *
STEP Qualified Solicitor from £250 * (but can be lower if you are not asking for the STEP qualification)
*some solicitors will only provide a very limited Will for the lowest fee and this may mean that appointing a guardian, making more than a few gifts or having more than say four beneficiaries are subject to additional charges.
As always get a complete price for your Will before you commit.
Also please be aware that many solicitors actually charge a lower fee than they might otherwise, if it was charged a pure hourly rate, because they want to be appointed as executors. This is to help ensure that they deal with the probate work when the time comes. Do be prepared to ask for proper justification if a solicitor recommends this.
NB. These figures are for guidance only and can vary from place to place in the country and in line with offers and promotions at any given time.
A word of warning about very cheap offers to write your Will.
There are some firms who advertise a home visit wills service at very low fees. These can be as low as £50 for a pair of mirror wills. Do treat these offers with extreme caution as they are too often a way of up-selling to expensive and unwarranted probate products costing perhaps £2,500 to £3,000.
If you think about it the price is just too low to make any sense commercially so there must be a catch.