The real cost of making a Will

Last month we reported on the Competition and Markets Authority’s recent investigation into the unregulated legal service markets which focused on will-writing and pre-paid probate services. In particular, the investigation found that many customers of unregulated Will writers were being misled over costs and were often lured in with the promise of a low fee which eventually turned out not to be the case.

Following this investigation, STEP (the Society of Trust and Estate Practitioners) asked its members for their experiences with Will writing companies, especially those who have quoted a fee at the outset but were not transparent about additional charges. The discussion highlights numerous poor practices followed by many unregulated Will writers and should make you think twice before being enticed by a deal that sounds too good to be true…

• One member told of a couple who had paid £4,500 for their Wills through a non-regulated Will writer, but were not told about an additional annual £89 fee for storage that would be on top of this.
• Another member advised that some Will writers often advertise “free” Wills, but fees are then added for each provision included in the Will, leading to a cost of thousands of pounds.
• Finally, another reported on a Will writer using unfair contract terms that charged the customer extra just for the firm to be named as an executor in the Will (an additional fee to any work they would later undertake when actually acting as executor after the customer’s death).

For comparison, over two thirds of STEP members advised that they charge less than £500 for straightforward Wills, with no additional or ongoing costs attached to this. Whilst this can seem a lot of money, making a Will with a regulated firm is money well spent as it ensures that you receive the right legal advice and the right Will for your circumstances. It also avoids any future unnecessary distress for your family after you pass away.

Williamsons Solicitors are regulated Will writers. The complexity of your Will is assessed by one of our team members based on the instructions that you provide at your first appointment. Following this you will be given a fixed-fee quote in writing, along with details of any disbursements that may be required. There are no hidden fees and we do not charge any fees for storing your Will or retrieving it from storage when either you or your Executors need it. If you or a family member have previously engaged the services of a will-writer and you are unsure whether it meets your needs or if you would like to discuss making a new Will, please contact our probate department who can help.