Will Writing

Why do I need a will?

It’s estimated that 70% of the population have not made a will – yet this can mean delay, chaos and financial worry for your family or dependants when you die.

Making your Will will let you decide what happens to your assets including money, property and possessions after your death. It will also help to mitigate Inheritance Tax on your death. Plus making your Will will give you and your loved ones peace of mind.

Top Reasons for making your Will

Save your family time. If you don’t leave a will, you will not have chosen any executors. Accordingly an administrator is appointed to administer the estate as the law dictates, and this can take some time. Choosing your executor helps them to get ready in advance and saves any additional surprises. You can choose the right person to carry out your final wishes, based on who is best suited to the task.

Who do you want to benefit? If you die without a will, any money and assets you leave behind will be distributed by the rules of law, called the laws of intestacy. This might not work out the way you’d like. If you have no living relatives, all your money could even go to the crown.

Do you want to save your family or loved ones additional stress? If you don’t leave a will, the law decides how your estate should be divided – no matter how close you were with family members or what you may have promised them. This may cause distress for the loved ones you leave behind. The process can also be more complex, and require additional paperwork or legal advice, and as such cost more in the long run.

Make sure your own children always inherit. There are circumstances whereby you could accidentally disinherit your own children without correct provision within a will. In most cases, married couples usually wish to leave their estate to their spouse and then when the surviving spouse dies, the estate is then passed on to the children. However, should the surviving spouse remarry and not alter their Will, should they die before their new partner, then the entire estate can pass to the new partner who in turn can decide to disinherit the children. You can protect against this eventuality and guarantee that your children inherit from you, regardless of what the future may hold. This can become even more complicated if you have children from a previous relationship. Please ask me about how a trust within your Will can provide this.

Do you want to protect your partner if you’re unmarried? Unmarried partners aren’t entitled to anything from your estate unless specifically stated in your will – no matter how long you’ve been together. Writing a will ensures your partner will get their share. If the family home is in your name, your unmarried partner and step-children aren’t automatically in line to inherit it if you die without a will – meaning they may lose their home. You can leave them a share in the property, or a right to reside in the property.

What needs to be in your Will?

You should always set out:

Who do you want to benefit?
Who should look after any children under 18?
Who is going to administer your estate after your death?
What happens if the people you want to benefit die before you.

Other considerations include:

What if you share a property with someone who isn’t your husband, wife or civil partner.
You want to leave money or property to a dependent who can’t care for themselves.
Other people may make a claim on your estate, e.g. a 2nd spouse or children from another marriage.
Your permanent address isn’t in the UK.
You are a UK resident but have overseas property.
You own a business or company.
You have children from a previous relationship.

Why is it not a good idea to make a DIY Will? Get professional advice.

You need to think about all eventualities, professional advice can make sure you have thought of everything, and if it is important to you!

You don’t know what you don’t know!

When should I revise my Will?

Your Will will need to be revised whenever there have been significant changes in your life for example birth of a child, death of a beneficiary, moving house, marriage, divorce. Also if legislation changes your Will needs may need to be amended to reflect this. We recommend you review your will regularly with these in mind.

We can offer you guidance and advice as to whether your will needs updating. Contact us now for a no obligation review, We will look at you current will to see if it needs updating.

Do you charge a fee to review my Will?

The initial consultation, Will reviews and advice is free of charge. If you decide to act on the advice given, the fee is dependent on the work completed. A single Will for example is £299 and a mirror Will is £399.

I just changed my name does this mean my Will should be updated?

Any change in circumstances should be a cue to review your Will. The Will review is free so if in doubt you should always check your Will is still valid.

I don’t have any children do I still need a Will?

Yes. If you have specific items you wish to leave to certain people this must be in a Will. You will also have not nominated any executors, and they would administer your estate.

Will Writing

Top Reasons for making your Will

What needs to be in your Will?

Why is it not a good idea to make a DIY Will? Get professional advice.

When should I revise my Will?

How to contact us

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