Making a Will
A recent survey by Which? found that 56% of people do not have a Will. Most of them are probably thinking that they will get around to sorting it out one day. But what happens if you don’t have a Will when you die?
If you die without a Will then your estate will pass under the Intestacy Rules to certain members of your family in a certain order. This may mean that your friends, favourite charities and other relatives get nothing.
If you are cohabiting with someone i.e. you are living together but you are not married, then it is particularly important to make a Will, as the law does not automatically recognise cohabitants as having the same rights as husbands, wives and civil partners. As a result, even if you have lived together for many years, your partner may be left with nothing if you have not made a Will.
A Will is also vital if you have children or dependants who may not be able to care for themselves. Without a Will, there could be uncertainty about who will look after them or provide for them if you die.
Circumstances Which Affect an Existing Will
We always advise that you review your Will regularly to ensure that it still does what you want it to do. If there are any major changes in your life, for example, marriage or civil partnership, or the arrival of children, then it is a good idea to check that your Will is still relevant and is a reflection of your wishes.
Marriage/Civil Partnership:- If you get married or enter into a civil partnership after the date of your Will, then this will automatically revoke (i.e. cancel) your Will unless you have specifically stated in the Will that it is made in contemplation of marriage or civil partnership. If you have recently got married or entered into a civil partnership, you should consider making a Will as soon as possible.
Divorce/Dissolution of a Civil Partnership:- Your Will is not revoked by divorce or dissolution of a civil partnership, but if you have appointed your former spouse or civil partner as Executor or Trustee, then this part of the Will becomes void. Any gifts you have left to your former spouse or civil partner will also fail. If you have recently got divorced or your civil partnership has been dissolved, you should ensure that your Will is a reflection of your wishes.
Separation:- If you are separated but still legally married or in a civil partnership then this will not affect your Will and any appointment of your spouse or civil partner as Executor or Trustee will still stand. Any gifts you have left to your spouse or civil partner under your Will also remain valid, even if you do not want them to. If you are separated and wish to leave your spouse or civil partner out of your Will, then you should make a new Will excluding them without delay.
NB. Please note that if you do leave your spouse or civil partner out of your Will because you are separated, they may still be able to make a claim against your estate. Whilst you are still married or in a civil partnership, your spouse or civil partner would not have to show that they are financially dependant on you in order to make such a claim.
Alteration:- If you want to make any changes to your Will after it has been signed, this should only be done by Codicil or a new Will. You should never attach anything to your Will.
Death of an Executor:- This would not make your Will invalid, but you should take professional advice. You may need to make a Codicil to appoint another Executor.
Death of a Beneficiary:- This would not make your Will invalid, but it could mean that part or all of your estate will be distributed as though you had not made a Will. This could mean that someone inherits your estate or part of it against your wishes. You should take professional advice in the event that a beneficiary dies.
How SP Law LLP can help you
Although it is possible to write a Will without a solicitor’s help, this is generally not advisable as there are various legal formalities which need to be followed to ensure your Will is valid.
Without the help of an expert, there is a real risk that mistakes could be made, which could cause problems for your family and friends after your death.
At SP Law LLP, we are experienced in drawing up Wills and can help you ensure that you benefit those closest to you in your Will.
What we will need to know
Once you have appointed SP Law LLP to act, we will need the following information from you:
1. Assets and liabilities
We will need details of all the assets you own including property, cars, personal possessions, stock and shares, bank accounts, insurance policies, business interests and pensions. You will also need to provide details of any mortgages, credit cards and loans you may have.
2. Who you want to inherit
Who do you want to leave your assets to? Is there any specific item or amount or money you wish to leave, and if so, to whom? How do you want to divide your property between your loved ones? Do you want to include any charities? Are there any conditions you would like to attach to the gifts you are leaving, for example, that young people must reach a particular age before they are given the money you have left them?
3. Family and other beneficiaries
We will need details of your family and marital status. Are you divorced or has your civil partnership been dissolved? Have you remarried or entered into a new civil partnership? Are you living with someone to whom you are not married or with whom you are not in a civil partnership? Do you have any children, whether from your current relationship or a previous one? Do you have any other dependants? Anyone who depends on you financially can ask a court to review your Will if they feel they have not been provided for properly by your Will.
4. Guardians
If you have any children under the age of 18, you should think about who you would like to appoint as their guardian should you die before they reach the age of 18. This person will be responsible for making all decisions on behalf of your child, so it must be someone whom you trust.
5. Other wishes
Do you have any particular wishes for your funeral i.e. would you prefer to be buried or cremated? Are there any other instructions you wish to leave in your Will so that your Executors know what you wanted?
6. Executors
In your Will you will need to name the people you want to appoint as Executors – these will be the people who are in charge of carrying out the administration of your estate after your death. They will be responsible for distributing your estate in accordance with the terms of your Will. Your Executors can be family members, friends, or a professional such as your solicitor. You should choose people whom you are confident will be able to deal with your estate and whom you trust to carry out your wishes. You should also ensure, where you are appointing more than one person to act as Executor, that your Executors get on well with each other.
Signing your Will
Once your Will has been drawn up, it will not be effective until it has been properly executed i.e. signed and witnessed correctly. There are several rules affecting the execution process which, if not followed correctly, could make your Will invalid. For example, if you have benefited someone in your Will and they or their spouse or civil partner act as a witness, the gift you have left to them will fail.
Where to keep your Will
It is important to keep your will in a safe place and to let your Executors or a close friend or relative know where it is. SP Law LLP can store your Will safely on your behalf if you would prefer.
Keeping your will up to date
You should review your will at least every five years and after any major life change such as getting separated, married or divorced, having a child or moving house. It is best to deal with any major changes by getting a new will drawn up. But it is also possible to make minor changes (or 'codicils') to your existing will.
Costs
Charges for drawing up a Will can vary depending on how complicated your Will may be. Our fees for drawing up a straightforward Will start from £45.00 plus VAT. We also take part in the
For more information on any aspect of making a Will, or to book an appointment to discuss your Will, please contact Mrs. Natalie Grant on 01604 638 905, or email info@sp-law.co.uk
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