Cost of our services

Drafting Costs

Initial consultation is at our expense.  Prices are a guide and will be based on your individual circumstanses and requirements. When including or combining LPA / Trusts / Property services / Specialist wills & trust / Living wills we will provide a written quotation for the work that is required.  We will not commence drafting your documents until you have confirmed and accepted the cost.


Simple Last Will and Testaments:

CO001 – Single Will: A standard single Will with no trusts, except the simple trusts below, or other complications such as life interests etc.

  • Include a children’s trust to defer a beneficiary’s entitlement past the age of 18 (can be tax implications if the nominated age is above 25).
  • Make gifts of specific items or assets. For a significant quantity of these gifts consider using a precatory trust.
  • Make gifts of cash to named people or charity
  • Appoint Guardians to raise minor children
  • Appoint Executors
  • Stipulate funeral wishes
  • Make provision for pets

Prices from: £249.00


CO002 – Mirror Wills: As above but for couples (married, civil partner’s or cohabitees) where one clients wishes ‘mirror’ the others.

Two separate Wills with the content reflected in each.

Prices from: £399.00


CO031 – Re-write Will: Simple re-writes that do not incorporate any Trust wording are chargeable after 5 working days.

Prices from: £32.00 single or £47.00 pair


CO045 – Re-write LPA: Re-writing completed LPA documents are chargeable after 5 working days. Prices from:£18.00 each


Express Services:  We offer either a three working day guaranteed draft delivery service, or a same day guaranteed draft delivery service. Instructions must be received by Enterprise before 2pm. Excludes bank holidays.

3 Day Price: £12.00 Same Day Price: £18.00

Please note: this service should not be abused and should only be used when genuinely required (e.g medical/ operations/ holidays etc. as this can have an impact on cases where documents are needed urgently).


Hourly Rate: In exceptional circumstances, this will apply to complex cases that require more time and work of the drafter. You will be advised of this as soon as possible, usually on the perusal of the instructions submitted to us and before we apply our hourly rate.  A time sheet by the drafter detailing the work undertaken, once the case is completed.

Price per Hour: £145.00


Will Commentary:  We provide commentaries as standard with all our Wills, however there may be cases where a commentary will require more attention. We will advise you in cases where commentaries will be chargeable before we proceed.

Enterprise Single Commentary Price: £30.00 Enterprise Mirror Commentary Price: £42.00

Powers of Attorney; Living Wills
CO020/CO021 – Lasting Power of Attorney: Allows the client to give power to their nominated attorneys to manage their affairs in the event he/she is unable to do so. These documents do require registration with the Office of the Public Guardian before they can be used at an additional charge per document (payable to the OPG). Enterprise offers a chargeable checking and registration service.

Prices From:
Single: Financial & Health £249.00,
Joint: Financial & Health £399.00
(£82 per document to be paid to OPG)


CO029 – Lasting Power of Attorney Checking Service: Following the signing and completion of the documents; the documents can be returned to us for checking, limiting the risk of the documents being rejected by the OPG. Enterprise can act as the correspondence for the OPG in which case we will keep you updated with any correspondence received and allows us to contact the OPG on yours and the clients’ behalf. Includes the forwarding of the documents to the OPG via tracked and insured mail. Please note that this applies only to documents drafted by Enterprise.

Prices From: £66.00 (per case submitted)


CO029 – Additional LPA Check: This fee only applies if an unregistered LPA is sent back for checking more than once. Prices from:£30.00


CO003 – Advanced Directive: With the introduction of the Mental Capacity Act 2005
Living Wills or Advance Medical Directives are now recognised in law in England and Wales. A valuable and useful document where an LPA Health and Welfare document is not required.

Price per document From: £46.00


CO043 – Deed of revocation (EPA & LPA): Used to formally revoke an unregistered Enduring Power of Attorney, and registered and unregistered Lasting Power of Attorney documents.

Price per document From: £24.00 each

Review, Digital Vault & Ongoing Service

Will Review, documents storage & Digital Vault: We provide a will review and update service using a digital vault cloud storage platform. This securely holds all your personal financial records and documents which will pass onto your executors in the event of you passing away.

In today’s modern world of digital technology executors are finding it increasingly challenging and in some cases impossible to locate essential documents and information that may be held digitally to effectively distribute your estate as per your wishes, for example: Bank accounts, passwords, insurance, health, property, land registry, utilities, pet insurance medication and vaccinations history, financial, social, treasured photos are among a few)  Unfortunately, digital data financial, personal, social, treasured memories, photos and videos may not be passed onto your loved ones as the executors were unaware of their existence or unable to gain access.  This service enables you to provide a digital legacy.

The review service and digital vault gives you access to a facility you can use to manage the information you regard as critical to your life, as well as the vital documents that comprise your inheritance plan, such as your will and any trust or lasting power of attorney we have provided for you.  The standard vault structure approved by the society of will writers includes a private section that only you can see, in which you can store passwords and pins that are needed to access the online aspects of your life.

If you do not hold details of all your online accounts in a secure place where they can be accessed by your executor, the value of your estate could be diminished.  Such accounts will include PayPal, eBay and even gambling accounts, where significant sums of money can be held.  Because the vault can be used to hold such a wide variety of information, it will allow us to provide a higher level of service for you and your loved ones in the event of you passing away.

It is digitally held in UK-based data centres accredited to the ISO 27001 standard. Regular penetration tests, carried out by UK government accredited agencies, have shown that the security standards are among the highest in the industry. Industry independent tests indicate it is amongst the most secure sites at Banking level security.

Oak House provide a bespoke wills and estate planning service. This technology is essential for us to provide you with the service levels we aim to achieve.

In all cases the ongoing service charge per month will be charged once you have appointed us until you cancel the ongoing service or pass away.

Cost: £8.99 per month: Includes Will updates, annual review of your will on request, Will storage, Digital Vault.

Will & Document Storage

Oak House Wills & Estate planning provide a secured and insured storage service for your original Will and documents.

Electing to include the review and digital vault service, your Will and documents storage costs are included in the monthly fee.

Documents:

The documents submitted for storage will be checked for validity including testators’ signature, date and witnesses and ensuring the witnesses are not names beneficiaries under the will.

LPAs will be checked for validity to ensure all the relevant sections have been completed correctly and that it has been executed in the correct manner.

Retrieval charge: £5 signed for £9 special

This charge applies to any documents received from the store (All documents are sent via Royal Mail signed For or Special delivery (Max 500g) Heavier documents, property deeds and mass retrievals are subject to a separate fee.

Scanned documents requests: £4.50

Upon request Oak House Wills and Estate planning can provide a scanned copy of any document or file we hold in store.

All prices inclusive of VAT. Terms and conditions apply.

 

Document storage service only: £30 per annum (Combined Ongoing review, updates, digital vault & will storage declined)

Specialist Wills
The following types of Will are most commonly used for couples where one or both Wills require the corresponding trust:


CO033 – Right to Reside or Occupy: A simple Will including a Right to Reside or Right to Occupy trust. Commonly used where a property is held in the sole name of one party and they wish for their spouse, children, parent or other person (the occupant) to have the right to live in the property without ever owning it. This allows the owner to dictate who will inherit the property after the occupant dies which would not be the case if had given the property to them absolutely. Can be established for the life of the occupant, a set period of time or subject to attaining a specified age or other condition(s).

Single Will Price from: £499.00 Enterprise Mirror Will Price From: £799.00


CO034 – Protective Property Trust: Probably the most popular of all the Wills written today. Simple Wills with the addition of a life interest (IIP) trust gifting the deceased’s share and interest in the property to the trustees. The trust is written to allow the survivor the right to live in the property for the rest of their life but with flexibility to move and potentially release money from the estate. On the death of the survivor, the property is distributed in accordance with the trust and not the survivor’s Will. This is especially useful where a couple have children from previous relationships/marriages and wish to provide for their new partner/spouse but ensure their assets ultimately pass to their own children. Will require the property to be owned as tenants-in-common. Includes one severance at no additional cost.

Single Will Guide Price from: £499.00 Mirror Will Price From: £799.00


CO035 – Discretionary Will Trust capped at the Nil-Rate Band: Typically mirror Wills but not used as much today since the introduction of the Transferable Nil-Rate Band. Useful tool to ring-fence assets for children, especially where there may be children from previous relationships. Still a valuable tax planning tool where the marriage is not the clients first and the previous marriage(s) ended on death. Includes a standard letter of wishes

Mirror Will Guide Price: £160.00 Guide Price: £350 – £500 (Mirror Wills)


CO036 – Disabled/Vulnerable Persons Trust: Wills written to include a discretionary trust residue that will protect beneficiaries should they have difficulty in managing financial affairs. Commonly through dependency on drink or drugs, gambling addiction or spendthrift. Allows the testator to provide for a person in a safe and controlled fashion with capital and income advanced by the Trustees as they see fit. Where a person is disabled and complies with S89 IHTA 1984 a disabled/ vulnerable people’s trust should be used particularly where the estate exceeds the nil rate band, which benefits from preferential tax treatment. With both trusts the testators should underpin this with a letter of wishes detailing their intentions of how they wish the trusts to be run.

Guide Prices From: Single Will Price: £155.00 Enterprise Mirror Will Price: £177.00 Guide Price: £350 – £500 (Mirror Wills)


CO037 – Flexible Lifetime Interest Trust: Commonly referred to as the ‘ideal modern Will’. Ensures the testator provides for his or her spouse, by providing them with the income from the entirety of their residuary estate. Has additional flexibility as the Trustees are able to advance capital, either as a gift or a loan, whilst preserving as much of the capital as possible for the deceased’s chosen beneficiaries. Particularly beneficial for high net worth clients as the trust is written to allow mitigation of IHT after first death (not a tax saving tool in itself; additional advice will be required). Often preferable for younger couples who do not wish to undertake aggressive IHT mitigation as it allows for tax planning to be implemented in the event either of them dies. Spousal exemption will apply on first death (provided the clients are married/civil partner’s) resulting in the survivor’s Personal Representatives having the ability to claim a Transferable Nil Rate Band on second death. Requires all jointly owned assets to be held as tenants-incommon (one severance prepared without charge if required).

Note: To ensure the administration of the estate is kept as simple as possible and to take advantage of the Residential Nil Rate Band (RNRB), we would advise that the family home is kept outside of the Flexible Life Interest Trust and placed in a separate Life Interest (Protective Property Trust) within the same Will. Provided that direct descendants (child, step-child, adopted child and/ or foster child) of the deceased and their lineal descendants are named as the ultimate beneficiaries of this life interest, the RNRB will then apply.

Guide Prices From: Single Will: £599.00 Mirror Will Price: £799.00 Single Will Price to also include PPT: £799.00 Mirror Will Price to also include PPT: £1,100


CO038 – Business Asset Protection Will: Will for those with business interests to include a Business Property Relief Trust. This ensures maximum relief from any tax advantages available at death are utilised, whilst ensuring that the spouse receives the income from the business to maintain their lifestyle. The business, if eligible, will eventually pass to the children or other taxable beneficiaries.

Single Will Guide Price From: £400.00
Mirror Will Guide Price From: £600.00


CO042 – Residue on a Life Interest (IPDI): An Immediate Post Death Interest; in some cases, maybe a complex family situation where each party wishes their respective children to inherit; the spouse has adequate assets of their own; or the testator simply does not want to gift his share over then a life interest in the residuary estate may be useful. The clients’ need to be aware of the consequences of such an action and must state whether the life tenant can receive income only or income and capital.

Price guide From: Single Will Price: £300.00 Mirror Will Price: £450.00 Guide Price: £300 – £450 (Mirror Wills)


CO019 – Letter of Wishes for a Discretionary Trust, Disabled Persons Trust or Flexible Life Interest Trust: Letters of wishes are commonly drawn up alongside discretionary trusts, disabled persons trusts and flexible life interest trusts. These trusts have discretionary powers to apply trust assets for the beneficiaries as the trustees see fit. The letter of wishes will give guidance to the trustees on any particular intentions or concerns that the testator has but please note that they are not binding on the trustees. For example, a potential beneficiary of a discretionary trust may be a spendthrift and the trust has been included to protect that beneficiary’s inheritance.

Prices From: £48 or £66 for a pair.


Property Services

CO006 – Tenancy Severance (mutual): Search the Register for title, apply for Office Copy and supply completed SEV form for signature by all proprietors.

Prices from: £95.00 each


CO006/01 – Tenancy Severance (unilateral): Use is primarily where one party wishes to serve notice on the other owner that they wish to sever the JT to TIC. Can be used with care where a spouse or partner is already diagnosed with dementia. Includes LR search and SEV form.

Prices from: £95.00 documents


CO006/02 – Death of Joint Proprietor: Used to remove a deceased proprietor from the Land Registry title when the property is owned as joint tenants.

Prices from: £95.00 each