Why make a Will?
It is important to make a will during your lifetime so that after your death, your assets and personal possessions (known as ‘your estate’) pass to the people and organisations (known as ‘your beneficiaries’) you choose. If you have children under the age of 18, you can also appoint guardians to take care of your children in the event of the death of both parents. COVID-19 reminds us that wills are for everyone, not just the elderly!
There are now lots of providers of wills, will writers, and DIY Will Kits available. However, you need to exercise caution.
Do I need a Solicitor to write a Will?
Writing a will is not as simple as just listing who you want to get what. A solicitor will help you consider the types of assets you have, how they are owned, what the default position in law is, what family you have and how they are related to you. You should also consider the age at which you want your beneficiaries to inherit, whether you need a trust to be created, whether you have business assets and how they are owned…. the list goes on.
If you use a DIY Will Kit there is a risk that you will not receive any specific advice tailored to your individual situation. This might mean you write a will that does not do what you think it does. In addition, the formalities of executing a will are strict and must be followed. When you get specific legal advice you can ensure your will is correctly executed.
Making a will without using a solicitor can result in mistakes and inconsistencies. In the worst case the will might not be valid. It may also result in your executor having to resolve any mistakes or errors and paying legal costs after your death.
If you have your will drafted by a solicitor you get the added bonus of the will being kept safely.
We appreciate that solicitors are more expensive than DIY wills, but the extra outlay sooner might avoid a costly mistake later. If you wish to make a will please email Laura Lewis or call her on 01869 228980.