Is it worth getting a solicitor to draw up a will?

[AllGonePeteTong1]

I know you can do it yourself for free online, or use relatively cheap will writing services. The reason I'm wondering about using a solicitor is because I own a company with another shareholder and don't know how I'd go about sorting transfer of shares in the event of death. Is this something a will writing service can help with do you think? Or is a solicitor a must? If so, any idea how much it might cost for me and my husband to get a will? Any insight much appreciated!

The Will is a separate issue from the transfer of shares after your death.

You do however need to ensure that the shares are easily transferable and to do that someone will need to check how they are held, and to check the company documentation. I personally would get proper legal advice from a solicitor, especially if they have some value.

The costs are usually in the hundreds and will be much more tailor-made than anything from a cheap online or other Will writing services.

Thanks @Throughthebluebells, appreciate your thoughts. Good to know we're talking hundreds - the solicitor I used to set up our shareholders agreement was thousands....

I’m just in the process of finding a solicitor to do a simple will for myself. I absolutely would not use a will writing service as you have no protection if they do anything wrong. And I doubt they’d be able to help you with the transfer of shares.

‘Simple’ wills with a solicitor seem to start at around £200-250 in my region, companies vary quite a bit in what they charge, so it’s worth phoning round and asking several companies for a quote. You can find solicitors in your area through the Law Society website, searching for ‘ find a solicitor’.

We originally did wills ourselves. simply each leaving everything to the other. If it get any more complicated, then a solicitor to talk you through consequences, especially the unintended consequences is certainly worth while.

Solicitors make much more money from untangling unintended consequences than they do from original wills do it makes sense to get their input up front.

Certainly set up POA yourself while you are thinking about it. Forms very straightforward https://www.gov.uk/government/publications/make-a-lasting-power-of-attorney

DH and I made wills last year along with POA for both finance and health ( so 2 poa each ) it cost us just under £600.

the POA were relatively easy straight forward, but the wills were rather complicated with trusts etc.

the bill came to just over £600

Use a lawyer. A relative used an on line service and it lead to a lot of confusion and heartache. They didn't know about some of the legal obligations associated with distribution of assets and it wasn't dealt with before death.

A cautionary tale - a friend and wife got a Will Writer to handle their will and it was a complete cock-up! Cost the husband £200,000 of a £500,000 will (insurances / house) to sort out that he needed to get the money for the two boys and it not be put into trust.... That saving of money cost a great deal and nearly 3 years to sort!

Many charities offer a free will service, I did it via Cancer research. I met with the local solicitor who drew up the will and I agreed to leave a donation as part of the will, but it's not mandatory.

I would recommend it, yes.

Wills can go wrong in many ways and can get complicated quickly, especially when there are unexpected circumstances. If you go onto some other forums you'll read that even with a lawyer things can get very complex, so attempting to create your own will might be even worst - and there's also no objective party to ensure that your will is carried out the way you intend it to. Sometimes relying on the law may not suffice. Find a good solicitor who knows what they're doing and honestly it will do you so much good.