Making a Will: Top 5 Tips
A will is something that many adults put off doing time and time again, but ensuring that you prepare a will can help to ensure the avoidance of any difficult situations after you die. In a study by the Legal Services Board, one in four wills failed their official assessment - meaning they were either completely invalid or didn’t properly reflect what the person wanted to happen. Whether you’re creating a will for the first time, or updating an existing version, getting the right person to prepare your will is absolutely vital. Which leads us on to our first top tip:
Use a Professional
Choosing who draws up your will is a very important decision, and you should look for a qualified and regulated solicitor. A professional and qualified solicitor can help to ensure that your final wishes are met, and they can also advise on the available inheritance tax allowance. Although there are plenty of do-it-yourself guides out there, and process can often be full of pitfalls and this is where a lot of errors can be made, meaning that your will could end up being invalid.
Decide Who Gets What
Planning who you want to inherit what and when can be hugely important for preventing any family feuds that can occur once a person has died. If you’re able to make your wishes completely clear, those that you leave behind are then left to deal with the effects of your death without having complicated legal matters on their hands as well.
Ensure Your Will is Signed
In order for your will to be validated, you must have two independent witnesses over the age of 18 watch you sign your will, and then they must also sign it to confirm. You should make sure that your witnesses are individuals who will not inherit anything under your will, as any gift that is made to a witness will be void.
Take Care of Your Will
Making sure that you keep your will safe and secure is vital and you must inform your executor where your Will is kept. It is important that your executor is able to gain access to your Will without probate. Leaving your Will with your solicitor is a good option, and you should still be given your own copy to keep.
Review if Circumstances Change
If a change of circumstance is not reviewed in your will, it can make your will invalid or inadequate. Changes such as marriage, divorce, children and an expensive purchase such as a new property, should all be reviewed and altered in your will if necessary.
Here at Bradbury Roberts & Raby, all our clients’ wills are individually prepared by our will experts and Associate Solicitors who are highly experienced in guiding customers on their options and providing friendly and sympathetic advice. They can create a bespoke solution that is tailored to suit your individual needs.
Need more advice or interested in our Free Initial Assessment? Call us today on 01724 854000 to speak to a member of our expert team.