Frequently asked questions about Wills
When it comes to writing a Will, the focus needs to be about protecting yourself and your family for the future. Creating a Will with the help of a solicitor is vital in ensuring your wishes are respected if you become ill or die.
There is lots of advice out there to guide your decision on whether you need to write a Will which can become complicated depending on your circumstances.
We can help you with writing a Will and making sure that everything you want for your family and assets is included.
To get started on learning more about Wills here are some of the most common questions we get asked.
Why should I make a Will?
It is estimated that 54% of adults do not have a current Will in place to protect their assets. Making a Will ensures that your estate is divided as you wish, protecting your loved ones for the future.
The importance of having a valid will is outlined in this article.
At what age should I make a Will?
If you are thinking about making a Will, that is probably the right age. Nobody is exempt from extreme illness or death so it is better to have the preparations in place.
Do I have to go to a solicitor to write my Will?
You don’t have to go to a solicitor to write your Will, there are alternative options. However, these alternatives are unregulated and could leave you open to exploitation.
Solicitors offer services that will make the will writing process move quicker and easier and they are regulated by the Solicitors Regulation Authority
Further information about who can write your Will is available here.
What do I need to include in my Will?
Your Will must be in writing and include your signature which has to be witnessed by two people who are over 18, unrelated to you, of sound mind and can provide an address.
You have to name your executors and outline the people who you would like to receive financial gifts from your estate (beneficiaries). You will need to provide current addresses for your beneficiaries.
Non-financial gifts should be included in a separate list and can be updated. This list does not need to be signed and witnessed.
Alongside these lists and details, you have to state what will happen if your beneficiaries die before or with you.
Finally, it is worth creating a statement of all your assets and where they can be found, including details such as life insurances, bank accounts, pensions and investments.
What happens if I don’t have a Will?
If you don’t have a Will, the people who could benefit from your estate might not receive what you want. If you don’t have a Will and you have no surviving relatives who can inherit your estate, your estate will go to the government.
Is a Will the same as lasting power of attorney?
In short, no. Lasting Power of Attorney is related to who can make decisions on your behalf if you become unable to manage your own affairs. A specialist lawyer can help you with appointing a Lasting Power of Attorney.
Appointing a power of attorney is vital for everyone, you can find out more information here.
Having a Will is incredibly important, we can help you with the process of creating yours. We have one of the largest Probate, Wills and Trusts departments in the area and our probate team have been recognised both nationally and internationally.