Creating a will is an essential part of estate planning, but how much does it cost to write a will in the UK?
Prices can vary depending on a range of factors, including who writes the will and your personal circumstances. The process could be completely free if you take on the task yourself, while a solicitor is likely to charge hundreds of pounds depending on the complexity of your affairs.
Here’s what you can expect to pay when writing a will in the UK.
How much does it cost to write a will in the UK?
As mentioned, the complexity of your affairs will affect how much it costs to write a will. For example, individuals with sizeable property portfolios and a large number of beneficiaries will likely need to spend more than someone with a small estate.
You may also need to pay more if you want to set up a trust or appoint a power of attorney at the same time as creating your will.
The price will also depend on which will writing services you use.
Writing the will yourself
A DIY will is an attractive option if you want to cut costs. You can find free or cheap will templates online, along with step-by-step guidance from the citizens advice bureau and gov.uk.
However, this does come with risks. Wills are complicated and, unless you’re an expert, it’s easy to make mistakes. This could invalidate your will, leaving your family with an extra financial and administrative burden after you pass away.
You can expect to pay hundreds of pounds if you hire a solicitor to write your will for you. Again, this depends on your circumstances — you’ll have to speak to your solicitor directly to get an accurate quote.
Hiring a solicitor to write your will could also provide further protection since they work under the strict guidelines of the Solicitors Regulation Authority.
Alternatively, many charities offer solicitors’ will-writing services at a reduced rate or even free of charge. In exchange, they may expect you to leave money to the charity in your will.
Solicitors are not the only option if you want to work with a specialist. Many financial experts (such as accountants) can draw up a comprehensive will without the premium price tag.
If you’re likely to exceed the inheritance tax threshold, a qualified accountant can help minimise your liabilities and offer tax advice as part of a wider estate planning strategy.
Finding a will-writing service that offers some protection may also help ensure your wishes are carried out after your death.
Making a joint will
Another option to consider is making a joint will, usually with a spouse or civil partner. Unmarried couples can also enter this arrangement, but it may be more complicated.
In some cases, this route is cheaper and more convenient than drawing up two separate wills.
Get support with writing your will
Cost is just one factor you need to consider when weighing up your options, so the price will differ from person to person. Writing up a will that protects your family’s financial future is key when making your decision.
Our simple, straightforward will-writing service can put you firmly in control of your assets — all in one appointment. We can also spend more time with clients that have more complicated assets, ensuring we plan everything out carefully before drawing up your final document.
Get in touch with us today to get a quote on how much to write a will in the UK.