Whether Solicitors Charge To Change A Will Remains A Loaded Question And Will Be Different Depending On The Law Firm App

1. Whether Solicitors Charge To Change A Will Remains A Loaded Question And Will Be Different Depending On The Law Firm Appointed To Draft The Will According to recent research, as much as 71% of UK residents do not have a Will. It is empowering to have a Will, because it allows an individual to set out his or her wishes at the time of death, in a formal manner. A Will allows an individual to dictate the fate of their assets after death occurs. It addresses issues such as the care of children and the division of assets. Without a Will, the law will determine who should inherit the deceased’s estate and how assets should be divided. They will also decide on a guardian for any minor children. Therefore, if certain assets need to be bequeathed to family, friends or institutions, it is of the utmost importance to have a final Will and testament. Well-established and reputable estate planning solicitors specialise in the drafting of Wills and ensure that wishes are clearly stipulated and listed in the Will. The first step in having a Will drafted is to make an appointment with well-established solicitors, specialising in estate and inheritance tax planning. Matters can be discussed in person, via phone or email. Solicitors are prepared to do home visits and in extreme cases, hospital visits for clients who are unable to visit the offices. A final Will and testament is drafted and aligned with the wishes and requirements of the client, with an opportunity to make amendments before the final signing of the legal document. The final document will be engrossed, signed and stored in the solicitor’s safe storage facility at no additional cost. A certified copy will be handed to the client for his or her own records. When there are no complicated details, the drafting of a Will should take no longer than a week to complete, from instruction to execution. In exceptionally urgent cases, the matter can be accelerated. In some cases, clients request the adding of a codicil to a Will. The cost will depend on the service provider as well as the complexity of the codicil. Professional solicitors will recommend the best option that is suitable for the current situation. Adding a codicil should be less expensive than writing a new Will. A codicil should be kept safely with the original Will. Be aware that when codicils are lost or separated from the original Will, disputes can arise. Therefore, some solicitors prefer to draft a new Will instead. Reputable solicitors charge a fixed fee for the service of drafting a Will. It is, however, safer to email and ascertain the total cost involved, as a safeguard against unexpected costs later. Before making an appointment to have a Will drafted, clients need to think about certain important aspects. They should prepare a list that includes key people who will need to be added to the Will. The client can make the choice of executor, or person appointed to ensure that the wishes stipulated in the Will are properly executed. The solicitor may offer professional guidance regarding this matter. Often the firm is nominated as the executor, which is perfect and an independent choice. Client should decide about the appointment of guardians for minor children, beneficiaries of the Will and any special items or cash that needs to be allocated to individuals. Providing a rough estimate of the total asset value will assist the solicitor with calculating and providing informed inheritance tax advice. The law does not recognise unmarried or co-habiting partners as having equal rights as a husband and wife or civil partners, despite lengthy relationships. Partners in this scenario will receive nothing from the estate unless it is stipulated in a Will. In the case of dependent children or financially dependent parents, a Will is indispensable; to ensure that financial planning is secured after death occurs. The exact cost of a Will or any changes to it will depend on individual circumstances of the matter at hand. Costs are not solely based on the value of the estate, but rather on the intricacies and time spent on administering the estate. When solicitors are appointed, costs are paid from assets available in the estate before distribution takes place. Whatever the cost of drafting a Will or changing a Will, or adding a codicil may be, it will still be worth it financially in the long run, leaving clients in control of their own affairs and final wishes. About Us Grant Saw Solicitors LLP, a well-established, highly acclaimed firm of solicitors, is based in South East London, with offices in Greenwich and Blackheath. Offering divergent services to individual clients and businesses, this accredited, award-winning practice has received the highest accolades for consistent excellence in different segments of the practice. The firm was established in 1851 and combines their resplendent history and tradition with a fresh modern approach. The innovative approach has led to reaccreditation by Cyber Essentials Plus for the next twelve months, Lexcel and ISO:9001.