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Wills

Making a will

Wills

Making a will is a highly personal decision. Each person has their own preferences in terms of where their money and assets go to and it’s therefore important to get these preferences in place before the time comes.

Whilst most people assume their closest family will inherit their money and property when they die, if they don’t make a will, this isn’t always the case and there can be a multitude of issues left behind when no will has been made. Loved ones clearly come first when making a will, but individuals might also consider donating to charity.

Ultimately, making a will is about protecting those most precious to you.

Why do I need a will?

A will gives you the peace of mind that your wishes will be respected after your death. It also gives legal clarity on where your assets are distributed and ensures that the process is smooth for your loved ones.

Up to 70% of people die without making a will, which can throw up many legal (and expensive) issues should there be discrepancy over where your estate should be left.

Many people believe that everything will go to their family when they die, but the law will ultimately decide if there is no will in place. The family could be left with nothing or with expensive legal costs in contesting how the estate is distributed. Without a will there is simply no guarantee – unmarried couples and other dependents may not inherit where there is no will if their partner suddenly dies, even if they live together.

Even if you believe that you don’t have anything to leave, everyone owns something, whether it is jewellery, furniture, money in the bank, a house (with or without a mortgage), a car or even a business. You should also consider any online accounts and digital assets – what happens to these when you die? A will can deal with all of this and make sure that the right people have access to, and receive, your assets.

Senior Man Signing Last Will And Testament At Home

What do I need to consider in a will?

In addition to deciding on beneficiaries , another challenge is to determine who to choose to act as your executors and guardians if you have minors.

If you have children under the age of 18, you will need to make a will to nominate guardians in the event of your death and also so that they can act as trustees of your children’s inheritance until they are legally able to inherit.

You might also consider ‘Rights of Occupation’, which will ensure that your loved ones can legally remain in a property even if it eventually goes to another beneficiary.

You ultimately get to decide what happens to your money, property and possessions in the event of your death.

How to write and store a will

Many people assume that writing a will takes a considerable amount of time, but working with an expert such as Lawman Legal means that in most cases it takes under an hour to discuss your circumstances. Your family will thank you for it.

You will need somebody who is not a beneficiary to the will to act as a witness. Once you are happy with the contents of your will, it is signed, dated and becomes a legal document from that point. It then needs to be stored securely so that it does not get lost or damaged.

If your will gets lost, stolen, damaged or tampered with, it will become invalid. It’s important that it’s kept somewhere safe, preferably away from the home in a secure fireproof location. Lawman Legal offer all our clients storage facilities in a secure registered fireproof location and also registration on the National Will Register so in the event of anything happening to your will it is always locatable and safe.

People may typically change their will 3-4 times during their life time. Circumstances change, people move, die and sometimes fall out with family or friends. Your family may also grow, with grandchildren or great-grandchildren to take into account. If things do change it’s important that your will reflects your latest wishes and is updated accordingly and in a timely fashion.

Why choose Complete Estate Protection to write your will?

Writing a Will without proper advice could mean that your estate is not distributed properly on your death and could lead to mistakes and the will being invalid. Complete Estate Protection are experts in will writing and a proud member of the Institute of Professional Will Writers.

We understand the potential pitfalls, and will ask you all the right questions to make sure that you have considered every possibility. Our experienced team will help you to write your will in a way that considers all your personal and financial circumstances. We will offer help and support to guide you through the process to ensure that you have properly provided for your loved ones on your death and make things easier for those left behind.

Our costs are transparent and up front, ensuring that you know exactly what is coming and you understand what is involved.

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Female Friend Helping Senior Woman To Complete Last Will And Testament At Home
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If you would like to a have a no-obligation discussion about what is open to you, please do not hesitate to get in touch.

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