Wills
What is a will?
Last will and testaments allow an individual to decide what happens to their assets, possessions, body and arrangements after their life has ended. It only comes into effect on death. They can be extremely simple, or more complicated if there is more to consider.
Our key summary .
Wills must be made when an individual is of sound mind. No undue influence or pressure can be applied when making a will.
Wills are the cornerstone of estate planning. They allow you to decide what you want to leave, on what terms and to whom.
They can be as simple or as complex as the circumstances require.
Mirror wills
What are they, do we need them?
Mirror wills are still just wills, they're fundamentally the same documents. However, mirror wills are the term most frequently used to describe two aligned wills that are written adjacent to each other, often at the same time and by the same firm. It allows for surety that the estate of a couple has wills that don't contradict each other and ensure the smooth transfer of estate assets and wishes upon death.
If your wishes as a couple are aligned (with minor exceptions such as burial, cremation, chattels etc) then it would be perfectly reasonable to have mirror wills.
Where there are no children being left to
Where there is a meaningful disparity between a couples assets.
Where mirror wills may not work
If care home costs are a risk to the estate
If mirror wills may not work for you,
please speak to an advisor as they can point you in the correct direction.
What do wills cost?
Typical Price Ranges
Single Individual Will
£0-499
Very simple wills can be done at home, some charities offer simple wills for free also. However, these are essentially template wills and they may not do what you hope.
Wills vary depending on the firm, high street solicitors tend to charge higher premiums than estate planning specific firms.
Service levels vary, all wills should be registered with the national will register.
Mirror Wills
£200-799
Wills vary depending on the firm, high street solicitors tend to charge higher premiums than estate planning specific firms.
Service levels vary, all wills should be registered with the national will register.
Wills with Trusts
POA
These are bespoke wills, taking into account specific family circumstances and wishes. They will vary on the basis of complexity and what other work may require completion to ensure the wills work in the intended way.
Sometimes this can result in Land Registry work if there is property in the estate and as such, takes greater time to complete.