Here are some examples - the names are made up but we've based them on real clients' circumstances:
Standard Will:
Mrs Baker came to Hugh Jones Solicitors wanting to make a Will leaving everything to her favourite charities.
She also wanted to leave gifts of £500 to each of her nieces and nephews, and her jewellery to her goddaughter.
A basic Will typically costs around £375 + VAT at 20%, so a total of £450
Right to Occupy and Care Planning Wills:
Sam and Charlie recently married and purchased a home together. They both have children from previous relationships who they want to ensure receive an inheritance whilst also ensuring the survivor of them can remain living in their home.
Halima and Mohammed came to Hugh Jones Solicitors because they had heard that we could help them reduce the risk of their home needing to be sold to pay for residential care.
They wanted to ensure that whilst the other of them was alive they would be able to remain living in the home for as long as they wished and would be able to access income from any savings needed to support themselves. However they were also keen to make sure that as much as possible from their hard earned wealth was able to pass down to their children after their death.
A Will containing a right of occupation or Life Interest of Property Trust (Care Planning) can cost around £1,200 + VAT at 20% per couple (so a total of £1,440)(equivalent to £600 + VAT at 20% or £720.00 per person).
Please note that it if you choose this type of Will it will be necessary to ensure that your home ownership is held as tenants in common. This may involve preparing and signing a Notice of Severance. Our fee for preparing this document and registering the severance with the Land Registry is £100.00 plus VAT at 20%, so a total of £120.00.
Will Containing a Discretionary Trust or Disabled Persons Trust:
Chris and David came to Hugh Jones Solicitors wanting to make Wills to make provision for their son Ben who has learning difficulties and who is unable to manage his own money.
They knew that it’s vital to have a Trust in their Wills so that Ben’s inheritance won’t stop him claiming the state benefits and care funding that he’s currently entitled to.
Instead, they’d like Ben’s aunts and uncles to be able look after his inheritance for him. Chris and David want to ensure that their money would be used to enable Ben to live comfortably and be able to access holidays, education, equipment and activities as he needed.
A Trust Will can cost around £1,400 + VAT at 20% (total of £1,680) for a couple (equivalent to ££700 plus VAT at 20% or £840 per person)
Tax Planning Will with Trust:
Helen came to Hugh Jones Solicitors because she knew that as a business owner she needed specialist advice to minimise her inheritance tax bill. With assets overseas she wanted to make sure that she had done all she could to make sure that it was her family, and not the tax man, who benefitted most on her death.
A specialist tax-planning Will can cost from £1,200 + VAT at 20% (a total of £1,440) per person
Contact PCnewenquiries@hughjonessolicitors.co.uk to speak to a specialist solicitor or telephone 0161 871 3680.