Will Writing Service
As the old saying goes, 'Failing to plan is planning to fail.' And there's no room for error when protecting your assets and ensuring they're distributed as per your wishes after you're gone. That's where having a will comes into play – and not just any will but one drafted by a specialist wills lawyer.
We delve into why having a will is crucial, what could go wrong if you don't have one, and the role of a qualified lawyer or solicitor in this process. We'll also explore the risks associated with DIY wills and the importance of secure storage for your valuable documents.
If you've been considering making a new will or transferring yours due to the closure of your current solicitor's office, then this is for you!'
Key Will Takeaways
Having a will is important to ensure assets are distributed according to wishes, name beneficiaries and executors, make guardianship arrangements for children, and prevent confusion and defaulting to the crown.
It is advisable to address the issue of making a will sooner rather than later, even though the minimum age to make a will is 18.
Using a lawyer or solicitor to write a legally valid will offers benefits such as documented signing, safe storage, regulation and expertise, and protection against invalidation.
Engaging a professional as an executor can be a sound investment, as they have the knowledge and experience to carry out the duties effectively.
What is a Will:
A will is your opportunity to set out your wishes legally. It is a legal document that sets out the beneficiaries of your assets, who will take care of your children, how your estate will be shared and who will be responsible for executing the wishes laid out in your will.
Within this set of legal documents you are completely free to express your desire on how to have your estate administration taken care of after your passing.
It is a wonderful way for you to remember all your relatives and loved ones ensuring all those sentimental items are given to the people who mattered most to you during your lifetime. Your wealth accumulated during your life can be shared amongst all your family members exactly how you want.
A will also allows you to exclude those people you do not want to benefit from your accumulated wealth which can be just as important for some people. This could be the case for married couples who have informally separated.
Why Have a Will?
Don't underestimate the importance of having a will; it's your ticket to ensuring your assets are distributed just as you'd want them, avoiding any confusion or defaulting to the crown, and making sure your loved ones are taken care of.
Having a legally written will allows you to name beneficiaries and executors, making arrangements for guardianship if you have children.
Imagine all the significant possessions in your life. Now think about who you would want those items to go to after your passing. Without a will, there's no guarantee this will happen according to your wishes. A lawyer or solicitor can help ensure everything is allocated correctly, providing an extra layer of assurance.
As we age, it becomes even more crucial to address this issue sooner rather than later. The minimum age to make a will is 18, but putting off creating one could lead to unanticipated problems down the line. As we delve into what happens when someone doesn't leave a will behind, remember that these potential complications can be avoided with some forward planning today.
If you do not have a Will:
You do not have a say in how your assets are distributed, and your family, and loved ones also have no voice. The law will decide, this means the rules of intestacy will apply and married, civil partners, and relatives can only inherit.
We have had to console and consult with family members who are grieving and having the added burden of trying to navigate what the wishes of their departed loved one would have been with other family members.
Aside from the distribution of assets which can cause contention, there is consideration around funeral wishes, whether a cremation or burial is desirable, which has caused major disputes between family members.
You can feel helpless because you really do not have a say, the law will decide. If you have been cohabiting and you considered yourself as a common-law partner under the rules of intestacy, you cannot inherit. What would this mean for you if the home you live in was in your partner's name when they departed?
We care about what our clients think about our will drafting service, which is why we actively seek feedback from our clients to help us improve our client's experience. Read what our clients are saying about us on Trustpilot.
We recommend registering your will with the National Will Register, Certainty. So no matter where you are in the world, you know your will can be found without question.
Let us represent you. If you would like us to contact you to discuss our will drafting services, please click here.
We have many years of experience in drafting wills, and we will take the time to discuss your situation and requirements in detail to ensure your will reflects your wishes accurately.
Making a Will: Considerations:
When you decide to take control of your future and start planning your will, there are several crucial factors you'll need to consider.
First off, it's essential to list out all your significant assets so that they can be accounted for in the distribution after your passing. Remember, these aren't just high-value items like property or investments; personal belongings with sentimental value should also be included.
Next comes the allocation of these assets amongst your chosen beneficiaries. This needs careful thought as you want to ensure fairness and avoid potential disputes.
You should also specify guardianship for any minor children you have and outline any specific wishes regarding funeral arrangements. It's advisable to seek professional help when drafting a will, especially if you have considerable inheritance tax implications or properties abroad. Even if a lawyer or solicitor isn't used in writing the initial draft, their expertise are invaluable in reviewing and finalising it.
We don't like to think about writing a will, but doing so alleviates stress on loved ones later.
The Role of a Lawyer or Solicitor in Will Writing:
The role of a lawyer or solicitor in writing your will is to provide legal advice and the necessary guidance during the process.
Engaging a lawyer or a solicitor for will writing ensures:
Documented signing of the will: A lawyer or solicitor ensures every 'i' is dotted and 't' crossed.
Expert advice: Lawyers and solicitors have extensive knowledge of tax planning, estate laws and inheritance tax.
Safe storage: Your invaluable document gets stored securely, preventing loss or damage.
Protection against invalidation: They help create legally sound documents that can withstand potential challenges.
Lawyers and solicitors are trained professionals who understand the complexities involved in a will-writing service. For instance, if you have children from a previous marriage or own property abroad, they're equipped with the expertise to handle such intricacies. If something goes wrong or if they neglect their duties, you can make a claim against their professional negligence insurance.
Frequently Asked Wills Questions
How often should an existing will be updated or reviewed?
You should review your will every five years or after any significant life changes, such as marriage, divorce, birth of a child, or acquiring substantial assets. This ensures it always reflects your current wishes.
What happens to a will if I get married or divorced after it has been created?
Tying the knot or untying it, like flipping a coin, changes your original will's fate. If you marry, your previous will is automatically revoked unless expressed in contemplation of the marriage. Divorce doesn't nullify it but affects specific provisions.
Can I leave a portion of my assets to a charity or non-profit organisation in my will?
Absolutely, you can leave a portion of your assets to a charity or non-profit organisation in your will. It's a wonderful way to support causes close to your heart even after you're gone.
How can I ensure that my digital assets, such as social media accounts or cryptocurrency, are handled according to my wishes in my will?
Like a key to a treasure chest, your will can unlock access to digital assets. To ensure they're adequately handled, specify in your will who should manage them and provide necessary passwords or keys.
What is the process for contesting a will if a family member feels they have been unfairly excluded?
If you feel unfairly excluded from a will, you can contest it. Initially, consult a lawyer or a solicitor to understand your rights. They'll guide you through the process, which involves lodging a claim with the Probate Registry.
Seek legal advice today!
So, you've got a choice to make. Risk the pitfalls of DIY wills or trust in the expertise of a caring law firm like RG Law?
It's clear which option offers peace of mind. With us, your will is safe, secure, and legally sound. We'll even store it in our vault or digitally for easy access.
Don't gamble with your legacy - let RG Law take care of it.
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If you want to know more, click here to get in touch. Or you may require one of our Wills and Probate services. See below.