WILLS & ESTATE PLANNING
When someone passes away, the family are required to deal with an individual’s assets and debts.
To ensure that this can be done smoothly, with the least amount of delay and cost to the estate, a person should make a Will.
Without a Will in place then the winding up of a person’s estate can be difficult, take much longer and cost much more than an estate with a Will.
In addition, if your life is slightly more complicated, step children, family friction or estranged children then without a Will your estate would be divided as per Succession Law resulting in people who you don’t want to benefit to receive part or all of your estate.
Making a Will is easy.
Our Senior Solicitor, Erika Watt will discuss what is your estate to ensure there are no Inheritance Tax planning or care cost planning issues that could be dealt with. She will then take your instructions on who you want as your executor (the person who would deal with your affairs after you have passed).
She will then discuss with you how you would wish your family and friends to benefit from your estate. Once she has noted your instructions she will arrange for a draft to be sent to you. This draft can then be revised to ensure that your wishes are accurately reflected in the document.
Wills and POA Fees (Financial/ Continuing and Welfare)
Our fees include meeting with you, noting your instructions, drafting, revising and execution of Wills and POA. Home (Hospital and Care Home ) visits are not charged at additional costs (unless multiple visits are required). However a £50 deposit shall be paid prior to any home or hospital visit which will be deducted from the final fees. If additional needs / costs are identified at our initial meeting this will be identified and discussed.
Revision of Will £130 plus vat ( previously drafted by MM Legal)
Single Will £200 plus vat (Will for one person)
Mirror Wills £350 plus vat (similar Wills for a couple with no complications)
Single POA £350 plus vat and registration dues £85.00 ( POA for one person)
POA and revocation £400 plus vat and registration dues £85.00 (changing of a POA)
Mirror POAs £500 plus vat and registration dues £170.00 ( POA’s for a couple)
Single Will and POA £450 plus vat and registration dues £85.00
Mirror wills and POAS £700.00 plus vat and registration dues £170.00
Sharia Law compliant Will £250.00 plus vat
Note we work in partnership with Cancer Research UK who offer a Will writing service where they will pay for the cost of a clients Will. If clients wish to use this service then Cancer Research require clients to consider leaving a legacy or portion of their residue to Cancer Research UK.
We also work with the National Free Wills Network who also offer a free Will writing gservice.
Executry Fees
(dealing with a deceased estate) Intestate (no Will) and Testate ( where a Will was signed by the deceased)
These are carried out on a Time and line basis as per our Terms of business being £250 per hour (£25.00 per unit). Some outlays require to be paid up front such as Bond of Caution dues ( specialist insurance required by the Court. The premium is dependent on the size of the estate) and Confirmation dues. (Certificate issued by the Court to allow the Executor to ingather and deal with the estate especially sell a house). IN addition commission is charged on funds being in gathered through our account.
Confirmation can be applied for directly by the Executor without the use of a solicitor. We can assist in the drafting of the inventory and application forms (C1 and C5) for the Court on a fixed fee basis. £900 plus vat and court dues. IHT account will be an additional cost. However we reserve the right to charge additional; fees should the matter become more complex.
In many executry matters there will be a house to be sold and we at MM Legal can arrange to have the property marketed and carry out the conveyancing work on the fixed fee basis as above.
(Time and Line is a process where our file is sent to an Independent auditor who will assess our fees on the work carried out)
