Following a bereavement, several tasks need to be considered and carried out to ensure the deceased’s wishes can be acted upon. One of these tasks is ensuring that a property is dealt with appropriately when administering an estate. Coping with the loss of a beloved individual is a challenging and emotional journey. Therefore, it is important to have a Will drawn up to ensure no confusion or disputes regarding who the inheritance goes to.
Why are Wills Important?
Having a valid will is extremely important, especially for the following reasons:
1. Avoid the Consequences of Dying Without a Will
Certain rules dictate how the money, property or possessions that you own Will be allocated. This could result in an unexpected distribution of your estate.
2. The Complications of Inheritance
Unmarried partners and partners who have not registered a civil partnership cannot inherit from each other unless there is a valid Will, so the death of one partner may create serious financial problems.
3. For Your Children
If you have children, you will need to make a Will so that arrangements for your children can be made if either one or both parents die unexpectedly. This is crucial more than one child exists, to ensure your possessions are distributed according to your wishes.
4. For Tax Benefits
It is possible to reduce the amount of tax payable on the inheritance if advice is taken in advance and you make the most out of your Will.
5. Securing Changing Circumstances
Keeping your Will up to date will ensure that your wishes remain relevant to your situation and not result in any unintended distributions of your estate.
Common Mistakes When Making a Will
Among the mistakes which commonly occur when drafting up a Will are:
- failing to take into account the possibility a beneficiary may die
- being unaware of the rules enabling dependents to claim from the estate which could overturn the existing provisions within the Will
- not being aware of the formal requirements needed to make a Will legally valid
- neglecting to consider all available funds and assets
- validity of alterations of a drawn-up Will
- lack of awareness of the effect of the creation or dissolution of marriage or registered civil partnership
What Should be Included in a Will?
To save time and reduce costs when requesting a solicitor’s services, you should give some thought to the major points you want included in your Will. Some things you should consider include:
- how much money, what properties and what possessions you have
- who do you want to benefit from your Will
- who should take care of any of your children who are under 18 (if any)
- who would sort out the estate and carry the wishes in your Will? Commonly known as an executor.
Read more here.
Do I Need a Solicitor for My Will?
A Will doesn't have to be created or authenticated by a solicitor. You can make a Will yourself. However, this should only be done if the Will is going to be straightforward.
It is advisable to use a solicitor when drawing up your Will, or at the very least have a solicitor check the Will you have drawn up to ensure it has the intended effect. Mistakes are easy to make, and such mistakes in the Will could create long-lasting disputes after your death. Sorting out such conflicts and misunderstandings after your death may create more costs. This could include considerable legal costs which will reduce the value of your estate or more importantly, cause a rift between family members or intended beneficiaries.
Why Should You Approach a Solicitor?
A solicitor will help you to ensure your will is:
1. Valid
A Will is a formal legal document and therefore must meet certain legal requirements for it to be valid. While you understand what needs to be in the Will, it might fail to fulfil the legal requirements in place. Legal requirements are oftentimes distinct from what appears to be straightforward. A situation commonly faced by individuals representing themselves in court.
2. Focused
A solicitor will ensure that nothing crucial is left out when passing down your inheritance. A solicitor will work with you, creating a Will which reflects your estate and wishes accurately, giving you peace of mind.
3. Has Proper Signatures
You may be wondering, "What criteria must a signature meet?" However, as previously emphasised, Wills are legally binding documents, and thus, signatures are among the elements that must adhere to legal standards. Neglecting to meet these requirements could potentially invalidate your entire Will, leading to added complications for your intended beneficiaries in case of a dispute.
4. Has a Suitable Family Structure or Includes Complex Finances
If you have a non-traditional family structure or complex finances, the process of drafting a Will becomes more difficult. A solicitor would be able to help you navigate the legal maze. It would prevent leaving the intended beneficiaries with no inheritance or failing altogether to have your finances properly distributed.
5. Executes Your Wishes
To ensure your wishes are clearly reflected without room for interpretation, the correct wording must be used. Failure to do so could cause ambiguity which often becomes the root cause of inheritance disputes.
6. It Properly Stored
Regardless of how well your Will is written, if it is destroyed or cannot be found, it does not serve its purpose. By enlisting the services of solicitors who are a member of the UK’s National Will Register, you can be sure that your Will can be located when it is needed.
The National Will Register
The National Will Register serves as the primary provider of Will registration and Will search services in the UK and is utilised by.
- Legal Professions
- Will Writers
- Professional Indemnity Insurers
- Government Agencies
- Charities
- The Public
The register exists to ensure that no Will is left unknown or untraced at the time it is needed. Through the Certainty Will Search service, one in five found Wills impacts estate administration by superseding a held Will or discovering a Will not otherwise known.
It ensures that Wills can be located and administered at the time they are needed; ensuring the testator’s wishes are carried out and certainty for whoever is involved with the Will, whether that be:
- An Executor
- Beneficiaries
- Deputies or Attorneys, who require a statutory Will to be made through the Court of Protection
- Contentious Probate Professionals
How We Can Help
We have an experienced team with an excellent track record when it comes to Will writing and ensuring a smooth transition even before the Will writing process begins. We are a member of the National Will Registry, so you can feel rest assured that your Will remains safe and secure.If you would like to speak to one of our expert lawyers, email us at info@witansolicitors.co.uk and we can discuss your situation and needs.
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