Making your Last Will
When it comes to actually making your Will there are several options available:
Stationers: Many Stationers supply a basic pre-printed form which you can purchase for a low cost and complete yourself, this is not ideal unless your Estate and its division is very simple.
Online: Numerous sites offer an online service where you can print forms or complete details online. Some sites are backed by a solicitor who will check over your Will and advise if necessary.
Banks: It is common to be offered a Will writing service from Banks and Building Societies.
Will Writing Specialists: There are companies who specialise in writing Wills. However, these companies are not regulated by the Law Society. Some firms opt to register with "The Society of Will Writers" or "Institute of Professional Will Writers", both of which have a professional code of practice. It is also wise to check what experience and insurance they have.
Solicitor: The cost of using a solicitor to write a will varies. Obviously this is the safest option as solicitors are governed by the Law society and have extensive insurance. They will also, in many cases, store your Will at no extra charge.
You can have a Will if you are......
- Aged 18 years and over
- Of sound mental health at the time of writing the will
- Under no pressure from any interested parties
However you choose to write your Will it must contain certain criteria for it to pass through probate, this is a process which is required by law to determine the validity of the Will and to allow the Executors access to your estate. A valid Will must follow certain rules:
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The Will must start by declaring that... "this Will revokes all others". Meaning that it is the Last Will and Testament and any others which may have been written before no longer stand.
The Will should be signed by the person who it belongs to and must be done in the presence of two witnesses.
The Will should then be signed by the two named witnesses. The witnesses should not be named as Executors and are not allowed to benefit from the Will nor should they be married to anyone who will benefit from the Will.
The Will should clearly state the names of the Executors, it is common for there to be 2 Executors but can be up to 4. The Executors are the people who are going to action the Will, i.e: pay off all debts and funeral expenses with money from the estate and then proceed to dividing up the remaining estate as specified.
Once the Will is complete with all relevant information, signatures and the date, it should be kept in a safe place. This maybe with a solicitor, at home or with the Principal Registry of Family Division to the High Court.
Once a Will is made, it is essential that it is reviewed regularly as any changes in circumstances may effect beneficiaries.
Don't forget to inform someone where you intend to store your Will.
Examples of this are:
- marriages or divorces
- births or deaths
- adoptions
- additional investments or insurances
If you do feel it necessary to make amendments to your Will this may be done by way of a codicil, this is simply a supplement which is added to the Will. Any amendments must be signed and witnessed, the witnesses may be different to those used originally. However, in many instances it is much simpler to rewrite the Will and destroy the previous copy.
Download the Will PDF Guide here - see our other free PDF guides here
Guide Contents
What is a Will?
Making your Last Will
Activating a Will and applying for probate
Dying in Intestate
FAQ's
More help and information about Wills
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