Making a Will | Will Writing

Where can i see a Sample Will?

2010-11-02T04:34:00.000-07:00

You can see what a Will looks like by visiting sample Will. Generally a Will contains the following:

Your detials
Executors
Guardians (if applicable)
Gifts of Money
Specific Gifts
Estate
Funeral

How Will Panoramas Recent Documentary Affect Will Writers

2010-09-15T07:36:00.001-07:00

Following BBC Panoramas recent documentary regarding Will writing and the regulations surrounding it, we pose the question; How will it affect Will writers?

Well, the documentary was actually based around the area of Probate as opposed to Will writing. The firms mentioned in the BBC programme were drafting Wills for clients and 'making their money' on the Probate of those clients. Each firm would state (in the small print) that as a part of the cost for the Will, they would take up to 1.5% of the estate value. In some cases this could be huge sums of money.

Although this does not directly affect Will writers, i'm sure that this recent documentary will force the client to rethink there approach towards making a Will.

View our online video on how to make a Will

2010-05-17T01:58:00.000-07:00

Can a bankrupt be an executor?

2009-11-06T02:31:00.000-08:00

This is a question that is often asked so i thought i'd clear this one up for you.

There is currently nothing which says that an undischarged bankrupt cannot be appointed as an executor. However in reality appointing a bankrupt as an executor is probably not a good idea as a bankrupt cannot open a bank account and cannot freehold or leasehold property.

It is essential that you choose your executors carefully when making Wills online.

Do married couples need two separate Wills?

2009-11-05T04:02:00.000-08:00

I have covered parts of this in my recent post 'A Single or Mirror Will, which is the best for me?'. In the instance whereby a married couple are looking into Wills online, a Mirror Will is usually created. A Mirror Will is a pair of similar Wills of which the provisions match one another. However if between you and your partner have different wishes then you would each need to make separate Single Wills.

If you make a Will but then divorce and get remarried this then cancels a previous Will unless the Will expressly states otherwise.

Making a Will on behalf of someone else

2009-11-05T03:41:00.000-08:00

Can you make a Will on behalf of someone else? The answer is yes. You can make a Will on behalf of someone else (normally another family member) however for the Will to become fully legal, it must be signed by the person who's Will it is. It will then have to be witnessed accordingly.

A Single Will or Mirror Will, which is best for me?

2009-11-05T03:02:00.000-08:00

Sorry all, i haven't created any new posts for the last couple of months however i'm now back on the case!

There seems to be some confusion between Single and Mirror (or Joint) Wills. So let me explain the difference between the two and in what circumstances a Single or Mirror Will should be chosen.

You should only choose to make a Single Will if you have no partner or if you wish to make a Will that has different provisions to those of your partner. So if you and your partner have different wishes (e.g. the husband wants to leave the car to the son and the wife wants to leave some jewelery to the daughter) you will each need to create a separate Single Will.

You should only choose to make a Mirror Will if you and your partner wish the terms of your Wills to be identical. For example upon one partners death all of their estate is passed to the surviving partner. This excludes any specific gifts detailed in the Will (e.g. a gift of money or specific item to a relative).

When making a Mirror Will two separate Wills are created, one for you and one for your partner.

I hope this helps to clear up any confusion. You can write your Wills online at onlinewill.co.uk.

Inheritance Tax issues when making a Will

2009-07-24T06:16:00.000-07:00

There are many things to consider when it comes to making a will.
Inheritance tax is one of those issues that is not always at the top of the list for reasons to begin making a will particularly in the early stages of your life when making a will is probably a result of getting married, and most likely when you have your first child.

The issue of inheritance tax is often brought up by ifa's who in making assessments of your current affairs would be expected to think about what you have incorporated in your existing will if you have one and any changes in your will that will need to be incorporated when making a will.

As you get older and hopefully accumulate some wealth especially through property which although can fluctuate in value just like stocks and shares, generally they tend to remain steady and usually go up in value. So when maybe your first will writing exercise did not take into account inheritance tax issues, as you get older it is quite likely that your total estate and assets with one maybe two properties could cause a problem for those that are left to deal with your estate.

When you initially were doing your fact finding into making a will you would have selected two executors to administer your estate, and part of that duty will involve making sure that all debts are paid from the estate and what ever is left will form the residual upon which your liability for inheritance tax is then worked out.

With tax rates due to go up it seems anything over the current band that will rise upto £350,000 by April 2010 will attract taxation either at 40% or maybe even the new rate of 50%. So when making a will if you think the net value (after all debts are paid) of your estate is likely to incur inheritance tax it's wise to seek professional advice to help with your will writing.

Emotional issues involved in making a Will

2009-07-24T06:09:00.000-07:00

A major problem for anyone writing a will is overcoming the emotional issues associated with making a will. It's hard to think about your own death and what will happen when you die and who will be left. Writing your will, will surely bring a lot of the issues you don't want to face to the surface. It is probably a reason why so many people start their will but then find dealing with the issues too much and stop.

The emotional issues involved in writing a will is almost certainly a key reason a lot of people prefer to use someone to help them in writing their will because they can ask the awkward questions and often help you sympathetically reach decisions about yourself resolving any problems where previously you may not have thought could be overcome.

Professionals have heard it all before, so your will is no real problem to them but is a real emotional problem to you. However, many people once they have completed their will for the first time feel far better for having done so.

Online wills are a good way to overcome the emotion as well because they silently ask the questions that need answered on a screen and you just fill it in, pay, press a button and the will is delivered to you over the web.

Of course like with any legal document especially one that often is all about the future, you should visit the detail every now and then and consider bringing your will up to date. There may be inheritance issues that you can now cover in your new will, maybe someone you wanted to leave a gift to is now dead or no longer as important to you as they were earlier. If you marry, divorce, re-marry or stay single every one of those events create issues that should make you go back to the subject of will writing, but if you have done it before the emotional issues should hopefully be easier to overcome.

Don't put off making a Will if you're single

2009-07-24T06:00:00.000-07:00

Are you single? Then you should think about making a will to ensure that your belongings pass to the people that you want to benefit. Without a making a will your assets are likely to pass to your next of kin under the "Intestacy Rules". The Intestacy Rules provide an order of Beneficiaries starting with your parents and moving on to your brothers, sisters and remoter relatives.

People often think "I have nothing to leave so why bother making a will". Well remember you maybe an owner of a house and there may be a considerable amount of equity which you will want to pass to your nominated Beneficiaries. You may also subsequently acquire assets, so making a will is extremely important.

Wills are strict legal documents, which have to be signed and witnessed in a very specific way. The Wills Act requires that a Will is in writing and signed by the person making a will in the presence of two independent witnesses both of whom must be together (not a couple).

Any verbal changes to a Will are not valid and it is, therefore, very important that any changes to an existing Will are made by either creating a brand new Will or by Codicil.

So if you're single, making a will is a wise move to ensure your loved ones are provided for.

What can happen if you don't make a Will

2009-07-24T05:53:00.000-07:00

If you die without making a will it means your estate will pass in accordance with the Administration of Estates Act 1925.
This covers your property and personal belongings including savings. If you die without making a will, your spouse and children do not automatically receive everything in your estate. There is a strict order under the Act which determines who gets what.

Many excuses are used for avoiding making a will which can include:

"I'll get round to it"
"Making a will is depressing"
"I'm not worth anything anyway so what's the point in me making a will"

It is a sad fact that many families are torn apart from disputes which arise as a result of the deceased person not making a will, forcing the dependents to argue, then 'imagine' what their wishes may have been.

Making a will need not be expensive or time consuming and making a will online is a simple and convenient method which will suit a growing number of people who lead busy lives and would prefer to make a will in the comfort of their own homes.

For those who consider making a will to be a depressing task, it is far preferable to make a will while you are fit and healthy and enjoy the rest of your life with peace of mind.

Keeping your Will up to date

2009-07-24T05:44:00.000-07:00

People's lives can change very quickly so it is advised to review things regularly and making a will afresh if required. Wills should be formally reviewed at least every 5 years and certainly on the happening of any of the following events:-

Making a will or the decision to change an existing will is often triggered by the death of a spouse or close family member.
Divorce or separation is another major reason people think about making a will, to ensure their new wishes are taken care of.
A marriage or remarriage should be an obvious reason for making a will as would the birth of any children. It is essential when making a will to carefully consider the interests of the children when making provisions for them.
Moving house can also be a time for people to review their will or consider making a will for the first time and surprisingly starting a new business also triggers people to consider making a will.
A receipt of a bonus or cash windfall or inheritance from a relative is certain to make anyone who had been putting off making a will, think again now that they have obvious assets to leave to their dependants.
Serious illness or redundancy are often life-changing events which trigger making a will as is retirement.

This is not a comprehensive list of why people consider making a will but any change of circumstances seems likely to cause most of us to review our wills or consider making a will for the first time.

Who to choose as an executor of your Will

2009-07-24T05:38:00.001-07:00

When you begin making a will it is crucial to consider who to choose as an executor. An Executor is someone who deals with the management of the estate and assets of someone who dies. An Executor is appointed because he or she is trusted by the person making a will and is in charge for collecting in the assets of the estate and administering them to the Beneficiaries named in the deceased‚ Will.

An Executor can be an individual or a trust corporation if required. Quite often more than one Executor is appointed by someone who is making a will. Where more than one Executor is appointed the Executors have to act together and make decisions by a majority.

An Executor has to be over 18 and cannot be bankrupt.

Executors can benefit from the deceased, Will.

Executors always have to act in the best welfare of the Beneficiaries and are often also appointed Trustees.

An Executor job begins immediately after the death and finishes once all of the assets have been distributed.

I am making a will - who do I name as an Executor?

When making a will, you should always appoint someone who:-

You trust implicitly
Is of more or less the same age as you
Is 18 or over and not bankrupt
Is financially wise or has a close association with the family

Whilst it is not a requirement, you should discuss your choice of appointment with your Executors before making a will, to ensure that they are happy to act when you die.

The responsibility of an executor is, therefore, of vital importance to anyone considering making a will.

What happens to my estate when making a Will if my partner has already died?

2009-07-24T01:36:00.000-07:00

If you are thinking about making a will and especially if you do not have a surviving spouse or civil partner and die without making a will but have natural children then your children will share everything, and if they have died before you then their children (your grandchildren) will inherit your children's share.

Without making a will and without any surviving children or other direct descendants (grandchildren, great grandchildren etc.), your estate will be inherited by your other relatives in the following order:

your parents;
your brothers and sisters of the whole blood, or their children if your siblings have died;
your brothers and sisters of the half blood, or their children if there is no surviving parent;
your grandparents;
your uncles and aunts of the whole blood or their children;
your uncles and aunts of the half blood or their children;
the Crown.

Without making a will identifying who should receive what then the definition of 'Whole blood' relatives are those related to you by two common relations, whereas 'half blood' relatives are those who only share one relative with you where they could share two. Without making a will it should be noted that step children are NOT included in this list and that may be very unfair and not what you intended.

The rules are clear but not necessarily what you would like to happen and of course some things may never pass to those you wanted to benefit from your estate. Making a will is probably the only way you can ensure your wishes will be carried out.

The importance of appointing guardians

2009-07-23T07:45:00.000-07:00

A guardian is the person who will be parenting your children when you die.

If you do not appoint a guardian when making a will and the Will is called upon whilst the children are still considered to be "minors" in age i.e under 18 years old then matters can be complex particularly if there are large assets to be distributed.

If you should die without making a will and fail to select a guardian, the courts will decide who takes care for your "minor" children. The decision may be alrightbut selecting a guardian when making a will, will ensure that your children are looked after as you would have wished to do so. The court system does not know your children and can't have any understanding whatsoever of your wishes for them without stating who you want to be guardians by making a will.

If you have "minor" children at the point you are making a will naming a guardian for them is one of the most important considerations that as parents you will probably discuss with each other. This can be the sort of question that takes a lot of time to answer however you can always change your Will later to suit the childrens needs as they get older and it is often considered good practice to name a minimum of 2 guardians and maybe 2 substitute guardians.

Making a will is perhaps the most important legal document you will make. Without one, the courts and not you-decide what happens to your assets. They can even decide what happens to your children.

Forms to appoint legal guardians in accordance with section 5 of the Children Act 1989 are easy to obtain and can be completed whilst making a will and held in addition or alongside your will.

Ensuring your Last Will & Testament is legally valid

2009-05-15T02:51:00.000-07:00

Writing a Will is a minefield if you do not get the right advice and make sure when you make a Will that the correct procedure has been followed in order to prevent your Will from being challenged or deemed unlawful.

It can have significant implications for the distribution of your assets after your death, and the tax treatment of your estate. Occasionally, however, simply making a Will is not enough. It is not unheard of for a Will to be challenged, especially when the estate is of a high value or family circumstances lead to a conflict between beneficiaries.

As such, it is vitally important that your Will stands up to legal scrutiny. Many people make a cheap Will using a DIY kit at home, but this can lead to all manner of problems, therefore it is advisable to use a solicitor, Will drafter or an internet Will site which is often cheaper but has had legal approval from a firm of solicitors.

Speak to a solicitor

Some people begin the Will making process by considering making a Will themselves . This is a perfectly reasonable course of action as for some making a Will is relatively simple enough, consisting solely of minimal instructions to executors to complete a basic Will. You can also make a Will online and as long as the site is supported by a solicitor or legal advisor who specializes in advising on Will writing that can be a fast, legally valid cheaper Will writing option. However, in more complex cases it will be necessary to seek proper legal advice. This is particularly true if you are establishing a trust, or if your personal affairs are particularly complex. The golden rule is “if in doubt “ then you should seek professional advice from a solicitor specializing in Wills and probate.

Confirm who your executors will be

You should always check with your chosen executors before naming them in your Will. Executors may be obliged to shoulder a significant burden, and you should clarify the nature of their role with them before completing the document. Furthermore, if you outlive your executors it is vital that you amend your Will accordingly.

If any of the circumstances below occur you should consider altering or re-writing your Will

• The death of a spouse or close family member
• Death of an executor
• Divorce or separation
• Marriage or remarriage
• Birth of children
• Moving house
• Starting a new business
• Receipt of a windfall or inheritance from a relative
• Serious illness
• Redundancy
• Retirement

After particularly significant events, such as the death of a spouse or civil partner, divorce or indeed marriage you may wish to re-write your entire Will. Sometimes as in the case or marriage or a civil partnership, you and your partner may decide to make a joint or mirror Will. At the beginning of every Will is a sentence outlining the fact that the Will you are about to complete revokes all previous such documents and that these previous Wills are no longer valid or of legal relevance and cannot be used in disbursement of your estate.

Always let your executors know if you have changed your Will and where the new Will is stored.

What if I need to set up a trust

Trusts are a very useful legal device, particularly for those who wish to provide for long term care for a family member etc. However, it is important that the document is properly constructed in order that the trusts are valid. You should make sure that you have permission from your chosen trustees before naming them in your Will or any other document establishing a trust. This is specialist advice and it is advisable to speak to a solicitor on the best way of how to make a Will.

Make sure your Will is signed and witnessed properly

If your Will is not signed and witnessed appropriately, then this could lead to the Will writing process being questioned and the Will being deemed unlawful. When you make a Will, it will have to be signed and witnessed by two independent people, i.e. those who are not beneficiaries of the Will. All the witnesses must sign in each others presence together with the person making a Will. Therefore care should be taken to ensure this process is adhered to when making the all important Last Will and Testament.

Storing the Will

Make sure that you keep copies safe; You can store with your solicitor or with a bank for safe keeping. Ensure that all relevant parties (particularly the executors) are aware of its existence and know where to find it. Writing a Will should not be too strenuous a task unless your affairs are unusually complex. Giving consideration to these simple tips should help ensure that your Will is effective, and that your dependents receive the benefits you have intended.

Perils of a DIY Will

2009-05-14T07:46:00.000-07:00

There is a lot of information on how to make a will or writing your own DIY Will. It can be a cheap option, but with something perhaps as important as your Last Will & Testament a “cheap will” may not be advisable. There are various legal formalities that must be followed to ensure that the Will is valid and even the simplest error or omission could cause problems for your family and friends after your death.

The following are the most common causes of legal problems and disputes surrounding a Will. Such disputes can cause considerable distress and expense, and yet with careful attention, professional advice or following a strictly guided format that you might find with an internet or online Will, they can be avoided.

What if the Will is nowhere to be found?

Sometimes after a death, there is uncertainty over whether a Will was made, and where any Will that was made has been stored. If your loved ones don’t know whether you have made a Will, or they believe you’ve made a Will but don’t know where to find it, this may mean that they have to spend a lot of time searching for it, and if it is not found you will be deemed to have died ‘intestate’. If you die “intestate” then it could be the state that decides how your money and assets are disbursed.

It’s possible that an old Will is found rather than your Last Will & Testament and so when you make a Will, it is important to inform your executors that you have made a Will or amended your Will, and to let them know where it is stored, which makes it easy to locate and reduce hassle for executors when dealing with your Will and probate.

Has my will been correctly signed, dated and witnessed?

Incorrectly executed Wills are a surprisingly common problem, and it is important to note that a Will that is not signed, dated and witnessed according to the rules is not legally valid. If such a Will were challenged in court, it would be highly unlikely to be upheld as a valid record of your Last Will and Testament.

To ensure that your Will is legally valid, the following process must be followed. You and your two witnesses must be in the same room at the same time for the whole process of signing and witnessing your joint or even single Will. The witnesses must not be beneficiaries. If this does happen, it does not invalidate the entire Will, but it does prevent your witnesses from receiving any benefit from the Will. In other words, the gift that you had intended to leave them will ‘fail’. You must sign the Will first, using your usual signature, in the sight of both the witnesses. Then each witness must sign in your sight and in the sight of the other witness. The Will must be dated with the date that it is signed and witnessed. Please note also that a blind person cannot be a witness and no extra pages can be attached to your Will.

If you complete the Will in front of a solicitor or Will drafter with your witnesses present they will guide you accordingly and equally if you follow the details and easy to follow instructions you usually find with an online Will then all should be completed properly.

Is the Will unfair?

If when making a Will it contains instructions to distribute your estate in a way that is seen as unfair by your surviving loved ones, it is possible that it will be altered or challenged after your death. If a spouse or dependent has not been provided for in a simple Will they may apply to the courts for money from your estate, under the Inheritance (Provision for Family and Dependants) Act 1975.

Also where all beneficiaries agree that a change to your Will is required, they may execute a Deed of Variation, sometimes known as a Deed of Family Arrangement, within two years of your death.

Therefore to ensure that your wishes are carried out, it is advisable to make sure that your Will provides for all of your dependents, and if you do wish to exclude someone or leave any large legacies to others, you should take legal advice. For example the usual case is when one of your children is totally left out of the Will, which they then successfully challenge. The advice is that even if you do not want one of your children to benefit from your estate it is always best to include them with something, maybe a small amount of money but not a derisory amount.

So, to avoid your joint or single Will being deemed unlawful, being challenged by family members or a gift failing, the Will writing process should be understood or good instructions, advice and guidance sought in order to make a Last Will and Testament which is error free and unchallengeable.