How To Write a Will

Nobody wants to think about what would happen if they passed away, which is why so many people put off the task of writing a will. However, it is definitely a good idea to get it sorted out, as you could save your loved ones a lot of hassle and heartache.

What Is a Will?

In simple terms, a will is a legal document telling those around you how your possessions and property should be disposed of upon your death.  A will and testament passes the management of your estate to a person of your choice and is a declaration of your final wishes.

Why Should I Write a Will?

If you die without a will it is very likely that you will leave behind costs and unnecessary stress. Your liabilities (outstanding loans or other debts) will be settled with your assets, and then normally, with a will, your remaining assets will go to your current spouse. However, if you do not have a will, this does not automatically happen. If you do not have children, your spouse will receive the equivalent of £200,000 of assets, and 50% of what is left of the rest. Your spouse will not have the power to decide where the final remainder will go. If you die single and without any children your entire estate and possessions will be claimed by the Crown.

Writing a Will

You should consider hiring a solicitor to draw up a will for you, especially if your personal matters are complicated. A solicitor will usually charge you around £200 which is fairly expensive, but they will make sure your will is strong and legally valid. It is possible that you will qualify for various benefits, such as legal aid, which you may not have realised yourself.

If you cannot afford this or it is not possible, you can write a will yourself. You can buy a template in a stationer and fill it in as if it was a form. Two independent witnesses will need to be present at the time because they must sign the document. A witness cannot be a beneficiary of the will, so you will need to use a friend or someone you know. Both options will require you to choose an ‘executor’, who will divide up your estate and possessions when you die. If you do not choose an executor, the government will appoint a solicitor to do it, and there will be a fee involved.

You will need to give details about all beneficiaries and what you are going to leave to them. You should include their full name and their relationship to you as well as being specific about any possessions you are leaving them.