how much should a basic will cost?

[meltoadhall]

just a will leaving everything to each other and equally to the children and a guardian for them.

[dzug]

With respect that isn't a simple will. If you leave everything to each other there is nothing left to give the children.

If you leave everything to each other with the proviso it must be passed on to the children you are creating a trust which means (without suitable wording to the contrary) that the surviving partner has no access to any money left by the deceased - only to the interest on it. The trust also takes administrative work to run - you may or may not wish to saddle your heirs with this.

So your first task is to decide what you actually want to do with your assets.

Having done that I'd approach a will writing firm (just google will writing) who seem to do it for under �100 or a STEP praticioner ( http://www.step.org/index.pl?n=2000;section=13 ) - maybe a bit more, but a bit more expertise and advice.

Don't go to a bank - they charge the earth, not for the will, but to administer the estate afterwards. Likewise with a solicitor - it may be better to pay a little more for the will that doesn't name them as executors than have a cheap one naming them which leaves your heirs no choice.

[Bazza2764]

If you work in the public services, and join GMB part of the membership allows you to make a will free. just a thought

[Peter Pedant]

forty quid or thereabouts

actually you have specified mirror wills - that would be two and therefore eighty quid.

Not a big deal.

[meltoadhall]

thank you, will get on and do it

[Law1]

I agree with dzug, if you wish ultimately that your children should inherit then you may wish to create a life interest for your partner, following the death of your partner your estate would go to your children. Depending on the value of your estate you may wish to consider tax savings using trusts and would need to speak with a competent financial advisor and solicitor. Of course if your children are minor then you should appoint a guardian. Take note that your circumstances change throughout your life and you should continue to review your will as your circumstances change. I certainly wouldnt go to a bank or other institution and wouldnt expect much of a will for �40! The usual price for a quality service would be �80 to �180 each.