Are you one of the 31 million or 59% of Brits who have not yet made a will?
If so, perhaps it’s because you want to avoid acknowledging the uncomfortable prospect of death or defer making difficult decisions about who gets what when you die.
Or maybe it’s because you’re concerned about the cost of a will and conclude there’s always something better, more fun and less depressing to spend your hard-earned money on.
Whatever the reason, not making a will could mean your assets and property could go to the wrong person and your loved ones lose out, including any children you may have.
The good news is that making a will in the 21st century is no longer the arduous, costly task it once was. And that’s thanks to being able to write a professional will online and the government permitting the signing of wills online until 31 January 2024.
Making a will online means:
So how much are wills, what’s the average cost of a will and does a trust will cost more? Read on to find out.
We can only provide you with a ballpark figure for the cost of will prepared by a probate lawyer as the cost will vary according to the different types of wills UK, and will also be affected by how straightforward - or complicated - your will is.
For example, making a will cost can increase if your will is particularly complex (i.e. if you’re leaving lots of gifts/legacies or setting up involved will trusts) or, conversely, can cost less if you and your spouse, civil or common-law partner want to make more straightforward and cost-effective ‘mirror wills’.
Note: you don’t have to be in a couple to make mirror wills.
According to helpandadvice.co.uk, the average cost for a will in England and Wales, in 2022, can generally vary between £250 and £750.
However, making a standard Will online with Wills Services only costs £29.99 plus VAT.
To give you a more accurate idea of costs, we’ll compare our online wills services’ costs to two big brands of nationwide providers of wills, namely Slater & Gordon and Co-op Legal Services.
It costs £99.17 excluding VAT to make a will with Slater & Gordon or £125 excluding VAT to make a will with Co-op Legal Services.
If you’re one of our incredibly brave NHS heroes, we’d like to make a small gesture of our humble gratitude by offering a 30% NHS discount on any of our will, lasting power of attorney and probate services to all you hardworking NHS staff out there.
All you need to do is enter the NHS voucher code “NHS30” when you pay for your prepared will and provide proof of your NHS employment such as a photograph of your NHS staff card or payslip, or evidence of your Blue Light Card discounts membership.
The cost to make a will online with Wills Services only costs £29.99 plus VAT.
Wills Services make writing a will online easy. As soon as you start the process online, Wills Services’ team of helpful legal experts will help guide you through the will-making process, step-by-step.
What’s more, our legal specialists will not confuse you with complex legal jargon but will make sure you fully understand the terms of your will and the whole will-making process, from start to finish.
Read more: Making a will online
A mirror will cost is cheaper than making two single Wills and are extremely popular amongst couples who want a very similar or identical distribution of their money and property (estate) to the same people (beneficiaries), upon their death.
The cost of mirror wills is:
Note: According to agespace.org, solicitors can charge anything from £200 to £450 for preparing and executing mirror wills.
At the time of making a will, many people also take the opportunity to put a Lasting Power of Attorney in place to make sure that a close, trusted friend/s or relative/s can conduct their financial and personal affairs on their behalf, in the event they are no longer capable.
Here’s a comparison of what combined will and LPA services will cost with Wills Services, Which? Wills or Co-op Legal Services.
[*Prices are exclusive of 20% VAT but include the registration fee payable to The Office of the Public Guardian: £82 for 1 LPA or £164 for both.]
When making a will, people often choose to set up a trust to set aside some funds from their estate for use or distribution at a later date.
A popular type of trust is one where you specify that a certain amount of money from your estate is safely held in an account until a child reaches a certain age - usually 21, but the age can be older if you choose. Lots of parents like to make sure that should they die before their time, their children are a little older, more worldly-wise and sensible before receiving a potentially huge sum of money.
The cost of a property trust will vary and will be affected by the complexity of your trust.
According to ukcareguide.co.uk, costs vary between £350 and £500 plus VAT but our online services are usually much cheaper than what you’d pay to use a solicitor.
If you’d like a no-obligation quote for a will trust, click the button below to register and start the will-making process. Once you’ve submitted enough information, we will assess your requirements and if we need to charge you more than our standard fee of £29.99 plus VAT, then we will clearly state what our fee will be and the reasons why it has increased.
Find out more: Setting up a Trust
Most lawyers will charge approximately £40 to £70 to create a codicil to a will (an extra document that will be placed with your will detailing your updated changes).
However, we consider changing a will with a codicil is a little disorderly and messy, and recommend you simply ask us to rewrite your will for as little as £29.99 plus VAT.
A new will cancels out and fully replaces your previous will and will clearly state what you want to happen to your estate upon your death, without any confusing additional bits of paper to refer to.