Cost of writing a will

Cost of writing a willWhilst many people may believe that writing a will is expensive and not a great use of time, the reality is that writing a will is highly important. Generally people believe that writing a will is only for people with a great amount of assets or for older people but actually everybody should make a will. If a will is not in place when a person dies the law states that it is down to the government to decide how their assets will be split. This can often leave many people unhappy and the assets are usually not split as a person would have wanted them to be.It is actually possible for a person to write their own will, although to make this legally binding the individual must stick to the terms that are within the will. It is advisable to seek professional advice when writing a will; the majority of solicitors offer this service. The best way to get a good price on writing a will is through shopping around for the best deal. The writing of a will is a simple task and therefore there are very competitive rates offered by solicitors. Most solicitors will charge by the hour and what this cost will be is totally dependent upon the type of solicitor used. In order to reduce the cost of writing a will a person can do some work before they speak to a solicitor. A will should be planned out as far as possible before speaking to a solicitor; this should include selecting who the executor will be. Most people will select a number of people to be the executor and then a hierarchy will be formed; this is especially relevant for people who are making a will at a young age. In order to reduce the costs of writing a will a person should make a list of all of their assets and assess what they are worth. This is a task that a solicitor will usually charge for by the hour. By presenting a solicitor with all of the details this will then allow the solicitor to produce a full draft of a will. Generally solicitors will charge by the hour by some firms may offer fixed prices on producing wills for people.