There are a number of companies offering FREE Wills; this seams an offer to good to miss! On closer examination its is free to Write your Will, BUT the Will is then Digitally signed (See notes below) and stored online, the first month is free the continued cost then varies from £4.99 a month to £25 a month. If you cancel your Will is deleted. Many of these companies earn income by not only selling your details but those of the people mentioned in your Will.
Online signatures are used for a number of documents BUT the Law is quite clear regarding Wills. see link http://www.gov.uk/make-will/make-sure-your-will-is-legal or relevant information from the site below.
|Make sure your will is legal.
For your will to be legally valid, you must:
|With a Online Signature:
What evidence have they seen?
I leave it to you to decide if an online signed Will is valid. It would be relatively easy to contest one of these Wills. By Claiming duress, not of sound mind, not signed in the presence of two witnesses, or the person was not even aware of the Will!!!
We do offer unadvised Wills, but we would like to point out This service is just for people who want a simple Will. We will also check it to make sure it is legal.
However it is not suitable for more complex cases where advice is needed.
Where step-children are involved.
Where a person has children with more than one partner.
If they are not married but have children.
Where there is a business involved.
In fact any situation where the estate is not passing to your spouse then equally to your children the advised service should be used. Reading some guidance notes can give you a false sense of knowledge. When we check Wills for legality that is all we can do even if to us it appears wrong if it its legal it passes.
Potential problems with an unadvised will.
- A Will only works if all parties can be clearly identified.
- Creating a tax liability for the beneficiary.
- Making a beneficiary worst of because they lose state benefits due to an inheritance.
- Writing someone out of the Will in contravention of the families act.
- Listing the wrong percentage of an estate to a beneficiary.
- Giving percentages that add up to more than 100%
- Making a gift that may not exist at the time of death (the executors would have to purchase a similar item to comply with the Will.)
- Nominating an ineligible executor.
- Appointing an ineligible guardian or too many.
- Nominating an ineligible trustee.
Any one of these issues could mean that a case that may not need to go through complex probate now has to, possibly which high charges.
Law Society minimum charges 0.75% of property 1.5% other assets these are minimums there is the same amount of work conducting probate on a £650,000 house as on a property valued at £65,000 therefore the percentage charge for the latter would be considerably higher.
Low-cost Wills but with a hidden Cost:
There are some offers from solicitors offering discount Wills, they offer at no cost! for you to appoint them as EXECUTORS of your Will taking the responsibility from your family. What is hidden in the small print is that they will charge your family 4% of the value of your estate i.e. a estate of £200,000 will cost your family £8,000 this does not include Probate which again could cost from 2%, As Executors they can appoint themselves to handle your probate. It could be that your estate could be completely handled by a relative at no cost. Only Solicitors can charge to act as executors.
Low Cost Wills with a home Visit:
Why would they send an adviser to drive out to you spend an hour+ taking your instruction plus all the transport cost and time.
The only way this is viable is if they convince you to have additional products even if these where required the cost is likely to be far higher than we would charge (someone has to pay for all the unsuccessful visits) we have had examples that after taking your instructions but with no additional sales, no standard Will is ever provided. Most people think a £20 loss is a small price to pay to have removed a very pushy “salesman” from their home. When we advise a client we also advise if other products and services are beneficial, but we also give various options and do not sell a £5,000 trust where a simple Will is appropriate. If a full Trust was needed our cost are much lower than these companies.
There are many offers on these sites offering 60/ 70/80 % discount on a Will service most of these sites take 40 to 50% of the price you pay as a advertising charge leaving the Will provider with just 50/60 % of a price of £20 how can they provide a service for £10 see above!!! Also many of these companies earn income by not only selling your details but those of the people mentioned in your Will.
We are a small company offering a personal service. Only offer non advised Wills as a low cost service for people with simple requirements. We offer this because Google and Bing listings are mainly price sensitive without the ability to show the value of the service offered.
Our cost are low because we produce ALL our Will document in-house (When a solicitors contracts out the preparation and printing of Wills this can cost them £100+).
We use our Virtual Adviser service for our Advised appointments. Although home visits are available in certain circumstances.
We do not employ sales teams most sales adviser are paid 30/50% of the price you pay. Therefore the price you pay has to be that much higher. With us it is preferable to write the lower cost alternative, rather than advise the complex more expensive option. Where we have to use the society of Will Writers Trust department. We would prefer to earn £50 for an hours work than £100 for four hours work. Therefore it not in our interest to sell you expensive options.
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