If you haven't made a will yet, you are not alone. Over half of UK adults haven't prepared a will, even though it helps protect your family and loved ones after you die and ensures your estate is dealt with in the way you choose.
A will is a legally binding document that sets out instructions for who will inherit your estate – including what happens to your property, your business, how your valuable possessions will be distributed, and who will care for any children or dependents.
The importance of making a will
Making a will enables you to:
If you die without a valid will, you have no say in what happens to your estate. The 'rules of intestacy' will determine how your estate is divided, which may not be to the people you want to benefit.
When should you make your first will?
You should write your will at the earliest opportunity. In practice, many people write theirs when they hit key milestones, like buying their first property, getting married, entering a civil partnership, or having children.
These are the moments when you start accumulating an estate and have dependents for the first time, which may focus your mind on planning for the future.
A wealth of legal expertise
You can make a will without legal assistance, but any lack of clarity about your intentions can cause problems at a later date. If you make any mistakes in the execution process, this could mean that your will is invalid.
No two wills are the same, and their circumstances are complex for most people. This can take many forms – for example, someone aiming to reduce the overall inheritance tax bill, looking to leave a business to a relative, or attempting to divide their assets within a complex family structure.
Our solicitors can guide you through the estate planning process and help determine what's best for your specific needs and circumstances. We take the time to understand your financial situation, family dynamics, and personal wishes.
Making changes to your will
Once you have a will, it is important to keep it updated. If your personal circumstances have changed, you should review your will. We can assist with any changes you may wish to make – for example, the provision of gifts and charitable donations, which can help offset the estate tax.
Appointing an executor
You can select anywhere from one to four executors, allowing for the proper execution of your will and administration of your estate. Your choice of executor can be anyone who meets the criteria of being over 18 years old and preferably residing in the UK. However, it is recommended to have a prior discussion with the individual to confirm their willingness to serve as your executor.
Alternatively, you can appoint your solicitor as your executor and be assured they possess the necessary expertise to handle the technical and administrative challenges that may arise.
Appointing your solicitor as an executor does not diminish the role of your family; instead, it can alleviate the burden on a family member who may find it challenging. Estates vary in complexity, and executors' duties can be a heavy burden, particularly after losing a loved one.
Contact our private client solicitors
Our solicitors will take the time to get to know you personally before providing tailored solutions to meet your specific needs.
We will guide you through the process to ensure that your will not only complies with all legal formalities but also considers all your property and other assets and is practical to administer.
We have solicitors in London, Brighton, East Sussex and Cumbria, and we assist clients nationwide.
Looking to make
or amend a will?