In this blog post, we’ll address frequently asked questions about making a Will. Whether you’re a seasoned estate planner or a beginner, join us as we unravel the complexities of making a Will.

What is a Will?

A Will, also known as a Last Will and Testament, is a legal document that outlines your wishes regarding the distribution of your assets, care for dependents, and other instructions upon your death.

Why is making a Will important?

A Will allows you to have control over the distribution of your assets, nominate guardians for minor children, and designate an executor to carry out your wishes. Without a Will, the state may decide how your assets are distributed.

Who can make a Will?

Generally, any adult of sound mind can make a Will. Legal requirements may vary, but most jurisdictions require the person making the Will (testator) to be at least 18 years old.

Do I need a lawyer to make a Will?

While it’s not required to have a lawyer, consulting with one is highly recommended. A lawyer can ensure that your Will meets legal requirements, minimising the risk of disputes and ensuring your wishes are accurately reflected.

What should be included in a Will?

A comprehensive Will typically includes details about the distribution of assets, appointment of an executor, guardianship for minors, and specific instructions regarding your wishes. It may also cover funeral arrangements and charitable contributions.

Can I change my Will after it’s created?

Yes, you can update your Will as circumstances change. This process is typically done through a legal document called a codicil or by creating a new Will. Major life events such as marriage, divorce, or the birth of a child may prompt updates.

What happens if I die without a Will?

Dying without a Will is known as dying intestate. In such cases, the state’s intestacy laws will determine how your assets are distributed, and it may not align with your wishes. This emphasises the importance of having a Will in place.

How do I choose an executor for my Will?

Select someone trustworthy and organised. An executor is responsible for managing your estate, including distributing assets and settling debts. It’s advisable to discuss your choice with the potential executor beforehand.

What assets can be included in a Will?

Assets such as real estate, bank accounts, investments, personal belongings, and digital assets can be included in a Will. Some assets, like life insurance policies with named beneficiaries, may not be governed by the Will.

How much does it cost to make a Will?

We charge £175 + VAT at 20% – total £210 for a straightforward single Will and £295 + VAT at 20% – total £354 for joint straightforward mirror Wills.

If you require a property Trust in your Will, we charge a fee of £50 + VAT at 20% – total £60 for a single Will or £75 + VAT at 20% – total £90 for joint mirror Wills.

You can also make a Will using the Cancer Research free Will service. Most people who use this service leave a gift to Cancer Research, however it is not a requirement.

We offer 10% off our Lasting Power of Attorney fees when you make a Will.