If someone has lost the ability to make their own decisions, it may be possible to have a Will made on their behalf. This is known as a statutory Will. It is sometimes the case that an individual may no longer be able to manage their own affairs and they...
Whether you have never made a Will before or want to make a new Will to replace your existing plans, it is important to have specialist legal advice. This ensures your wishes are set out clearly, with no room for confusion or misinterpretation that could lead to unnecessary tax bills or family fall outs.
Why use BakerLaw LLP:
You can be confident in our expertise. Common problems with wills, like using the wrong witnesses or forgetting to have it signed, could mean it is not valid when you die. Or even more worrying, if the will is not drafted in the most tax efficient way your estate could pay more inheritance tax than is necessary. Using a lawyer minimises the risk of things like this happening.
The complicated bits are done for you. The law surrounding inheritances (including Inheritance Tax and trusts) is complicated. As lawyers we are familiar with the law and will be able to help you make the most effective choices.
Costs transparency. Where we can we offer fixed fees. If a fixed fee is not appropriate, we provide you with a realistic quote at the commencement of work and regularly keep you updated on costs.
Your will is stored safely. We store the original Will for you, free of charge.
We are regulated. The Solicitors Regulation Authority, who have the power to take enforcement action or close solicitor firms if the rules or code of conduct is breached, supervises us. You can have peace of mind that should this firm cease trading for whatever reason; the Solicitors Regulation Authority will take control of your file and any original documents.
You are protected. If you have any problems, you can make a complaint to us directly and if this is not resolved to your satisfaction you can escalate the matter to the Legal Ombudsman.
Our fees
Our fixed fees are as follows:-
Single Will from £450 + VAT
Mirror Wills from £600 + VAT (between spouses/civil partners i.e. Wills that are broadly the same and have the same beneficiaries, specific gifts etc)
In addition to the legal fees there are disbursements of £11.94 (per person) for ID compliance checks.
We will be in a position to confirm our fees once we have reviewed your will questionnaire and taken your instructions.
For guidance, a basic will (£450 + VAT) includes the following:
- appoints no more than two executors
- up to two specific gifts (cash or personal items)
- up to two beneficiaries.
Our fixed fee is discounted on our normal hourly rate and is based on spending 3.5 hours on the matter for a basic single will and 5 hours for basic mirror wills. The normal hourly rate is between £180 and £300 plus VAT depending on who is dealing with the matter.
If you prefer, we can offer our Will service on a time spent basis. This means that the costs will be based on an hourly charge of between £180 and £300 plus VAT and will be calculated on the time spent on attendances, preparation, consideration and all forms of communication, i.e. letters, emails and telephone calls, whether made or received.
Our service
Our fees typically include:-
Initial meeting to take instructions (up to 1 hour)
Advising you fully on your particular circumstances and ensuring all options have been considered, where appropriate
Advising you of your inheritance tax position and potential exposure
Drafting and preparing your Will(s)
Letter reiterating our advice and your instructions, with a full explanation of your Will, including a draft for approval where necessary
Final appointment to sign the approved Will, where possible (if a face-to-face signing appointment cannot take place, we will provide full, detailed signing instructions)
Complimentary safe storage of your original Will(s).
As part of our Wills service, we will assess whether there is any useful tax planning advice that could be undertaken in respect of your estate. There will be an additional charge for any specific advice given or work undertaken in this regard and we would advise you of this at the initial meeting.
If you decide to make a more complex Will such as including a life interest or discretionary trust, then we will be able to provide you with a costs estimate/quote as appropriate. As a guide, the average cost to include a trust in your Will ranges from an additional £150 to £350 plus VAT.
If you instruct us to prepare your Will, we are happy to place it in storage free of charge.
The process
We would be delighted to assist you once we have a better understanding of your circumstances.
We ask that you complete our Will Questionnaire to ensure the process is dealt with as efficiently as possible. The questionnaire provides us with the information needed to enable us to advise you fully, and also gives you an idea of the information we will require to review or prepare a Will in a way that suits your particular circumstances and achieve your wishes.
We request that the following sections of the Will Questionnaire are completed:-
– Your Details
– Executors
– Guardians (if applicable)
– Gift of Residue Estate
– Financial Checklist
To download our Will Questionnaire, please click here if you will be making your Will as an inividual, or click here if you are making your Will as a couple.
Please then return the Will Questionnaire to us by either post or email. We will then contact you to arrange an appointment and forward our Engagement Confirmation and request payment on account of costs. Please note that it is this firm’s practice to request payment of our fees on account prior to the initial meeting.
To satisfy legal regulations regarding identifying all clients, we must ask you to please provide photo ID i.e. a passport/photocard driving licence and a utility bill/bank statement/Council Tax bill dated within the last 3 months. We utilise an app-based electronic service that enables clients to provide their ID from home for most matters. However, if clients are unable to use this service, we can take copies of original ID at our initial meeting. This means that original documents must be supplied to us a the initial meeting, before we are able to carry out any work.
