Making a Will is important to ensure your estate is dealt with in the way you want after your death. With effective planning you can provide for your loved ones and save tax.
What Is A Will?
A Will is a legal document that sets out what you want to happen to your estate when you die. Every estate will be different, but a basic Will sets out:
- Who your beneficiaries are – the people you want to leave your assets to
- How you want your assets divided up
- Who your executors are – the people who will administer your estate according to the terms of the Will.
A Will can deal with many more things but these are the key points. Find out more on our Will Writing page.
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How Do You Make A Will?
We offer a number of options to suit you and your needs – you can make a Will online, by post, or in person. We’ll advise you on the best way to structure it. Find out more.
Once it’s drafted and you’re happy with it, you and two witnesses will need to sign it in order to make it legal. Make a Will online
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How Much Does It Cost To Make A Will?
Making a Will can cost as little as £175 with our online service. With our Wills Assured service we also offer free updates if you need to change anything.
For more complex estates, you may require more tailored advice. Find a more in-depth breakdown of our fees on our Will Writing page.
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What Do You Need To Consider When Making A Will?
Every estate will be different but there are a number of things to bear in mind when writing your Will. These include:
- Who do you want to inherit your assets?
- Do you need to plan for inheritance tax?
- Do you have assets in different countries?
- Do you own, or co-own, a business?
- Do you need to provide for children from a previous marriage, whilst still providing for a current partner?
- Will your partner be able to stay in your home if you die?
Read our Wills Checklist for more information.
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How Can I Avoid Making A Mistake When Preparing A Will?
It’s always best to involve a solicitor when you’re making or changing your Will. This will make sure your Will covers everything you need it to and that it’s legally binding.
Read our article on common mistakes you can make when preparing a Will to help make sure you avoid anything that will cause problems.
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How Do I Leave Money To Charity In My Will?
Leaving money to charity can benefit others and also reduce the amount of tax on your estate, meaning your family can get the most out of their inheritance. How to leave money to a charity in your Will
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Do I Need A Solicitor?
It’s not essential to have a solicitor but it is advisable. We can help you structure your Will in the best way to avoid paying too much tax and make sure your loved ones are provided for.
By using a solicitor you can also be sure that your Will is valid and won’t be disregarded after your death.
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Do I Need A Will?
We advise everyone to consider making a Will. If you have anything to pass on, you should make a Will. Find out if you need a Will
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Can I Exclude Close Family From My Will?
You’re allowed to include or exclude whoever you like. However, to make sure your wishes are carried out, you should seek legal advice on how to structure your Will.
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What Does An Executor Do?
The executor is the person (or people) who administers your estate after your death. They’re in charge of paying any debts, collecting the value of the estate (i.e. selling property) and distributing the inheritance to beneficiaries. Find out more about what an executor does.
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When Do I Need To Review My Will?
If there’s any change in your circumstances it’s important to review your Will. This is especially the case for major life changes, such as:
- Marriage or divorce
- The birth of children or grandchildren
- Significant changes to your financial circumstances.
It’s especially important to review the terms of your Will if you divorce, as it won’t automatically be revoked and your ex-partner’s share could upset the rest of your estate. Make a Will online.
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What If I Own A Business?
Having a Will is very important if you own all or part of a business. You can set out who would inherit your shares, who would take over the running of it day to day, and what should happen if your business partner wants to sell. Find out more about wills for business owners.
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How Can I Make Information Easy For My Loved Ones To Find?
Making sure all the important information is easy to find can help make life easier for your loved ones when you pass away.
This includes details such as:
- Your personal information, such as national insurance number and date of birth
- Contact details for you next of kin and details of anyone you want to be notified of your death
- Where your Will and other important documents are
- Account details and passwords for online banking and other services
- Any specific instructions for your loved ones to follow.
How to make information easier for loved ones to find.
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What Does A Witness Have To Do?
When you make a Will it’s essential to have two independent people witness your signature. This is to confirm that it’s your signature on the document.
They will either be present when you sign the Will, or if you’ve already signed it, you just need to acknowledge to them that it’s your signature. They then sign the Will themselves.
This ensures the Will is legally binding and can be held up as valid if someone tries to make a claim against it.
Your witnesses have to be impartial and mustn’t stand to gain from the Will – this means your beneficiaries or their spouses cannot be witnesses. Read more about witnessing a Will
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What Happens If I Get Divorced?
Many people assume that getting divorced cancels out any Will they made during their marriage. This isn’t the case, and failing to update your Will following divorce could have serious consequences for your estate.
Read more on our page, Does Divorce Invalidate A Will?
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Contact Us
If you’ve got more questions, or you’d like to get started today, call us on 0370 1500 100 – or fill out our online form and we’ll call you back.
