Writing a will, Scotland

[Millie50]

Husband and I need to write wills. We are both Scottish and live in Scotland. Our assets are not complicated - partially mortgaged house, car, small savings.
We would just do one of those template wills you can get online, but we want to include guardianship/trust arrangements for our kids. With this complication, is it a bad idea to use online template? Googling suggests solicitor costs for two wills might be £800 or so - that's a lot!
Anyone done an online one with guardian/trust fund for kids?

I got my Will made two months ago in a solicitors including guardianship trust fund for my children and it cost me £234. Just for me as I’m a single parent but I think your Google search cost sounds excessive.

@thefourgp

I got my Will made two months ago in a solicitors including guardianship trust fund for my children and it cost me £234. Just for me as I’m a single parent but I think your Google search cost sounds excessive.

I agree with this. We got two mirror wills done for dh and I earlier this year. Nothing complex at all on our end.

All done, witnessed and lodged with the solicitor. £240.

Sorry I should have said, made references to plans for children and all monies into trust for them, who the trustees were etc if that's what you mean.

It’s really bad idea to use templates, false economy.

See a specialist solicitor.

if you could wait you could do it during the "free" month (charity donation):
www.willaid.org.uk/will-makers

although I think there is another scheme that also runs earlier in the year

The “free” month isn’t free or even cheaper. I called appx 10 different local solicitors and they all said the price was still the same - you just pay the same amount to a charity instead of the solicitor.

Thanks all, good advice, and relieved to hear it's more like £200-300. Phew! We will definitely get it done by a solicitor in that case ☺️

I agree it’s a false economy. It’s not as straightforward as you might think.

You also need to get POA done as well.

Many people have more assets than they think and will do by the time they die.

Don’t either of you have a pension?
Presumably your party paid off mortgage would be full pay off if you die?
Do you have other life insurance ? I assume so if you have kids
Do you have a death in service benefit at work?

Do you want all your assets to go to each other and then potentially to their new partner and their children ? Or to your children? if so you need to draft your wills to make sure that happens.

Many many children do not get their legacy from their parent if it’s left to the surviving parent. Men in particular tend to remarry very quickly and leave the assets to their second wife , who then leaves it to her children.

Most templates are based on English Law not Scots Law.

Oh, I thought you had to name pension beneficiaries directly with the pension company rather than in your will. Obviously I really do need a solicitor!
Thanks also for the other advice, which I do appreciate.

@334bu tell me about it... And probably titled 'UK' because England=UK. Obviously... 😆

I think that if you leave your occupational pension to your children then it can be paid to them directly and doesn’t form part of your estate for inheritance tax purposes. But I’m pretty vague about the detail on it - defo check with someone who knows what they are talking about.

It might be only while they are your dependents.????? dunno

I work for a solicitor, ours charge £180 including VAT

I dad a will in 2020 through a solicitor and it was 180.

Macmillan Cancer Support offer a will service for a charitable donation, all year round I think. So do McClure's Solicitors. I found this out after I'd done mine.

McClures have gone into administration

Don't do any online one without checking it's specifically Scots law.

Wills are very very different north and south of the border.

If you're doing your wills than you should consider doing POA and Advance directive at the same time and that's it all out the way. This will cost c£800.