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One very good reason for choosing your Will-writer carefully

Submitted by Manager on Mon, 13/02/2012 - 15:46

A client of ours had their will written for them by a solicitor. All was well, until a member of the family had to go and live in a care home.

Now the local authority is trying to put a charge over their property – which means when the house is sold, they’ll be wanting a cut.

The solicitor is working on their behalf in negotiation with the local authority – and the bill for that work is in excess of £4,000.

Not every solicitor will do this, but if you end up needing their support for something like this it’s well known that the cost can take a toll.

It may seem like a solicitor is the cheaper option for Will-writing, and in the first instance it is. However, it’s a good idea to beware of automatically allowing them to take over the probate side of the estate when the time comes.

In the same way, some banks offered free Will writing – but they would make themselves an executor of that Will. Which is fine, if you want a high street bank working alongside the close friend or relative you nominated to take care of your affairs!

At My IFM we say everyone over 18 should have a Will. It’s a cost-effective investment that provides peace of mind as soon as it’s sorted.

When a good IFA creates your Will, they should be doing more than simply writing it. They can advise on establishing a trust and if you decide it’s needed, they’ll sort it out for you. They will also take care of essential matters like lasting powers of attorney, giving you the choice to designate who makes those vital decisions, should you ever be unable to. 

Finally, if you’re writing a Will as part of a process of putting all your affairs in order, they can help with the entire process and make sure you’ve built a strong foundation for the future of you and your family.

If you’d like to talk about anything you’ve read here, please don’t hesitate to call IFM on 0845 066 9432.

Call us now on 0845 066 9432 or click here to email us

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