WILL PRICING

Everyone in a perfect world will have their lovely valid Will stored safely away either at home or in a Will Bank at a Solicitors Offices.  That Will, then also clearly sets out their instructions on how they wish for their estate to be distributed on their Death.  However, in reality, it is believed that 59% of adults do not have a Will and sadly many Wills that are in existence have been poorly drafted and ultimately fail to achieve the Testator’s wishes.  Therefore, if there is no valid Will in place, a Deceased’s Estate will be dealt with under the intestacy rules, which may mean their estate is not distributed as they would have wished.   It is, therefore, very important that people find time to think about what they want to happen to their Estate on their Death and ultimately have a Will drafted to reflect those instructions and to obtain the appropriate advices on any potential inheritance tax liability that may arise on their death.

Here at Lincoln Watts and Leeding Solicitors, we pride ourselves in offering a good value service to our clients.  We therefore can offer you a face to face meeting or a video /phone call if you prefer to have a remote appointment with an experienced Solicitor.

We wish to be as transparent as we can with our pricing and therefore confirm the following pricing information.

• BASIC WILL (Fixed Fee)
• This is suitable for a SINGLE/DIVORCED INDIVIDUAL with assets below £325,000 in the UK or abroad  
• There are NO CHILDREN or any financial dependents. 
• No advices given around inheritance tax
• No advices given around the Inheritance (Provisions for Family and Dependants) Act 1975.
• No Will Trusts are included.
• The Will can include specific legacies and pecuniary legacies (limited to no more than 5  – more that 5 will incur an extra £10 per added legacy/Gift).
• The Will has no more than 4 residuary beneficiaries.
• £300 plus VAT for a single Will; and
• £500 plus VAT for joint mirror Wills (equates to £250 plus VAT per Will)

• STANDARD WILL (Fixed Fee)
• This is suitable for SINGLE/DIVORCED OR MARRIED INDIVIDUALS with assets worth over £325,000 in the UK or abroad
• Suitable to individuals WITH OR WITHOUT children and/or financial dependants. 
• Includes advices on guardians – Where necessary
• Includes advices on inheritance tax (to include advices around the nil rate band and residence nil rate band (if applicable)) – where required
• Includes advices on the Inheritance (Provisions for Family and Dependants) Act 1975 – where required
• The Will can include specific legacies and pecuniary legacies (limited to no more than 5 – more that 5 will incur an extra £10 per added legacy/Gift).  
• Can include a Statement pursuant to the IHT Act 1975 if required. 
• No Will Trusts are included.
• The Will has no more than 6 residuary beneficiaries.
• £400 plus VAT for a single Will; and
• £650 plus VAT for joint mirror Wills (equates to £325 plus VAT per Will)

• COMPLEX WILLS (Hourly rate)
• The advice includes the standard Will option advice in addition to the inclusion of Will Trusts such as a Life Interest Trust (Property Protective Trust). 
• For complex Wills, our charges are based on an hourly rate basis and fees range from:
• From £750 plus VAT for a Single Will; and
• From £1400 plus VAT for joint mirror Wills

• NOTICE OF SEVERANCE (Fixed Fee)
• In addition to the above charges, if Severance of a Joint Tenancy is required for a Life Interest Trust Will we charge an additional £150 plus VAT to deal with this and to update the Land Registry. 
• Requisite Electronic AML Checks will also be required costing £20 plus VAT per person due to a transaction involving land.

• CODICILS (Fixed Fee)

We charge as follows:

• £200 plus VAT for a Single Codicil
• £300 plus VAT for mirror Codicils (suitable for couples etc)

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• DEED OF VARIATIONS (Fixed Fee)

We can offer a fixed fee service for dealing with a Deed of Variation depending on what this is dealing with this.

• Fixed fees start from £450 plus VAT

• MISCELLANEOUS FEES (Fixed Fee)
• EXPEDITION FEES for dealing with Wills, Codicils and LPAs will be added if a quick turnaround is required – starting at £200 plus VAT on top of the above quoted price
• HOME ATTENDANCE FEES for Wills, Codicils and LPAs - will incur an additional £100 plus VAT (for no more than 2 attendances)