Making a Will

What is a Will?

A Will is a legal document which makes provision for what will happen to your assets and possessions when you pass away.

Who should Write a Will?

Everyone should write a Will, however you should consider writing (or re-writing a Will) if:

  • You have just married
  • You have recently divorced
  • You have bought a new home
  • You are a business owner
  • You have valuable possessions

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    Why do I need to Write a Will?

    There are 2 important reasons that you should consider writing a Will. First of all, a Will helps clarify who will benefit from your estate in the event that you pass away. Having a written document setting out what will happen to your estate (including your possessions) can provide immeasurable clarity.

    Secondly, if done correctly, a Will (and our Estate Planning services) can help reduce the inheritance tax which your estate pays when you pass away. This is especially important if your estate is greater than the nil-rate band, which at the time of writing is £325,000.00.

    Are there different types of Wills?

    There are several types of Wills, depending on the circumstances you find yourself in:

    • Last Will and Testament, which is one of the most common types of Will;
    • Mirror Wills, if you are in a relationship and would like to create near-identical Wills;
    • Mutual Wills, which are designed for couples but tend to be unsuitable for many as Mutual Wills cannot be revoked once one of the parties passes away;
    • Joint Wills, suitable for couples who would like to create one combined Will;
    • Codicils, known as formal amendments to Wills, where your circumstances may have changed or you wish to reconsider what you leave to your beneficiaries.
    • Letter of Wishes, which is a letter accompanying your Will that sets out in more particular detail how you would like your possessions to be looked after or distributed.

    Which Will is the most relevant for you?

    Please consult with one of our Will Lawyers and they shall be able to advise you, at no additional cost, the most appropriate Will for your circumstances. Many people choose either a Last Will and Testament or Mirror Wills (if they are a married or co-habiting couple).

    How long does it Take to Write a Will?

    Writing a Will carefully is an important thing for you to do. For straightforward Wills, we aim to complete your Will within 2 weeks of you becoming a client. The time taken, however, can depend on various factors, such as the complexity of the Will and how long it takes for us to obtain all the required information from you.

    When is the best time to Write a Will?

    Given the uncertainty of life, there is no better time than today to begin the process and make a Will. Consult with one of our Will Lawyers today.

    What information do you need to know before we start?

    Ideally, you will need to think about how you want to distribute your possessions and assets once you pass away. We recommend creating an inventory of your assets and possessions, because sometimes it can be easy to forget some. Next, you’ll need to think about who you want to give your assets to. You might want to choose family members, friends or even charities.

    What possessions can you leave in your Will?

    Your Will makes provision for your entire estate in the event that you pass away. If you have specific possessions which you would like to leave to someone, then it is important that you specify this.

    What is a Will Trust?

    Oftentimes when writing a Will, people will make set gifts to their beneficiaries.

    For example, you may be concerned about one of your children’s finances and wish to make a larger provision for them in the event of you passing away. However, when you pass away it could be that the particular child’s situation has improved and he may not need the full extent of your original provision. It could be that your gift would be better served going to one of your other children, or indeed another beneficiary.

    This is where a Will Trust comes in. Instead of committing a particular gift to a particular beneficiary at the time you draft the Will, a Will Trust allows a decision to be made much later on as to how much of your estate any particular beneficiary shall receive. This means that you can arrange for your estate to pass to the beneficiaries who would be in most need of it.

    What is a Living Will?

    A Living Will is, strictly speaking, not a Will. It is a legal document which sets out the extent and nature of the medical treatment you would find acceptable in the event that you lose mental capacity to make that decision. A Living Will can be particularly helpful for individuals who wish to refuse a certain form or type of treatment in advance.

    What are the next steps to Writing a Will?

    If you would like one of our Will Lawyers to prepare your Will, please leave your contact details on this webpage and one of our Team shall be in touch by the next Business Day.

    How much does a Will cost?

    We offer fixed prices for drafting Wills – simple Wills start from £149.00. For confirmation of your quote, please leave your contact details on this webpage and one of our Will Lawyers shall be in touch.