How much does making a Will cost?
Making a Will does not have to be complex, time-consuming or costly, despite it being such an important and valuable document. And if your affairs do require extra careful planning the PCB team has all the expertise and experience to advise on every aspect.
Our standard charge for a straight forward Will is £195 plus VAT (£234) for a single Will or £350 plus VAT (£420) for a couple.
Sometimes a Life Interest trust is required i.e. a Life Interest in a property for a husband, wife or partner which will ensure their intended beneficiaries will benefit once that person dies. Our costs for such a Will start at £300 plus VAT (£360) for a single Will or £395 plus VAT (£474) for a couple.
Alternatively, it may be that a Discretionary Trust is required, particularly where there is a disabled or vulnerable beneficiary. Our costs for this start at £400 plus Vat for one person or £450 plus VAT for a couple.
With both of these wills a Deed of Severance may be required for which we charge £45 plus VAT (£54). if your property is registered we will register the Deed of Severance with the Land Registry without further charge. This is only if you and your co-owner are in agreement.
Single people with less than £325,000 (sometimes £500,000) and married people, including people whose husband or wife have predeceased with less than £650,000 (sometimes £1million) will usually not have any Inheritance Tax issues but we will advise on this generally within the charges above.
If required, we offer specific advice on Inheritance Tax tailored to your circumstances and these costs are calculated on an hourly basis. This would usually be with Pauline Davies at £250 plus VAT (£300) per hour.
If you wish to find out further details then please contact us by email.
Please note that prices are correct as of 7th April 2020.