Four reasons why you need a Will.
- A Will makes it much easier for your family or friends to sort everything out when you die – without a Will the process can be more time consuming and stressful.
- If you don’t write a Will, everything you own will be shared out in a standard way defined by the law – which isn’t always the way you might want.
- A Will can help reduce the amount of Inheritance Tax that might be payable on the value of the property and money you leave behind.
- Writing a Will is especially important if you have children or other family who depend on you financially, or if you want to leave something to people outside your immediate family.
If you are over 18 you should have a Will. If you are young and single then a basic Will is probably fine. Please, why not use our Basic Will form below and you will have a professionally prepared Will for very little cost.
BASIC ONLINE WILLSINGLE PERSON WILL
A Will becomes more important as you get older and take on more responsibilities. Your Will should always be reviewed and amended as you progress through life and your circumstances change.
If you are in a relationship such as married, civil partnership or unmarried couple then consider Mirror Wills. These are virtually identical Wills where one member of the couple leaves their estate to other in the event of their death.
BASIC ONLINE WILLMIRRORED WILL
What is a Will ?
Your will tells people two very important things:
- Who should have your money, property and possessions when you die.
- Who will be in charge of organising your estate and following the instructions you leave in your Will – this person is called your ‘executor’, and you can name more than one person if you want to.
You can also use your will to tell people about any other wishes you have, like instructions for your burial or cremation.
You can appoint executors will do their best to make sure your wishes are followed, as long as they don’t involve breaking the law. Although it might not always be possible for the executors to carry out your instructions. For example, a person you want to leave something to might die before you do, but if you have a Will there’s a better chance of things happening the way you want.
A Will has to be legally valid. Your will doesn’t have to be on special paper or use a lot of legal language.
A document is a valid will as long as it:
- Says how your estate should be shared out when you die.
- Was made when you were able to make your own decisions and you weren’t put under pressure about who to leave things to.
- Is signed and dated by you in the presence of two adult, independent witnesses, and then signed by the two witnesses in your presence – the witnesses can’t be people who are going to inherit anything from you (or their husband/wife or civil partner )
Oakwood Estate Planning Ltd can advise and guide you as to the best options for you. Get in touch today and it’s sorted.