Drafting a Will: What You Should Know

Leaving A Legacy: A Guide To Wills In The UK

As we become older, writing a will becomes an important consideration. It allows a person to decide what happens to their possessions, property, and money after death. Without a will, things could become complicated. That’s why, in this article, we’ll provide all the particulars related to will-making so that you are fully informed.

What Is a Will?

A will (also known as a testament) is a document that allows you to decide what is to happen to all your belongings and assets, including money and property after your death. It must be signed and witnessed in front of others to make the document legally valid.

What Information Should the Will Include

When creating a will, the following information should be laid out:

• • Who is to benefit from the will
• • Who will look after and take responsibility for kids under 18
• • Who is the executor to deal with the estate and sort out the wishes of the perished individual
• • What happens if the beneficiaries die before the person makes the will
• • What charities will receive part of the inheritance (if that was something the deseased wanted)

What Can Be Included in a Will

You will want to include all significant assets of value and anything else with sentimental merit. Things to fit in a will should include the following:

• • Property (both in the UK and overseas)
• • Savings held in building societies, and banks
• •Insurance (such as endowment policies and life assurance)
• • Pension (including lump sum payments after death)
• • Investments such as investment trusts, stocks, and shares
• • Furniture and other content of the home
• • Jewelry, Antiques, and other items of sentimental value.

Who Can Write a Will?

It is possible to write a will yourself (called a simple will). However, most people seek out the help of solicitors and lawyers. It is especially good to receive professional help if the will is complicated.

If a person does not leave a will, the law will decide who gets what possessions.

Types of Wills

Let’s take a look at some of the existing will types.

Single Will

It is a familiar and common will type. The document details the distribution of a person's estate when they die. Generally recommended to single people, they also have a use if each partner has differing wishes.

Will Trusts

They are used when the assets are placed in the control of others (called "trustees") on behalf of named beneficiaries. The conditions of how the trustee operates are stated in the will, and usually, the trustee will look after the will-maker's assets. The trustees are also often the executors who carry out the will's instructions.

Mirror Wills

Normally made by married couples, their partner is designated as the executor. Their estate is given to each other, and the children (if they have any) are nominated as common beneficiaries. Though straightforward, the will should be drafted by legal specialists to ensure all options are covered.

Living Wills

This type of will outlines the medical decisions a person may want someone to make on their behalf if a stage is reached where they cannot make their own decisions. They are often used to reject certain kinds of treatments or medical procedures (such as palliative care, ventilation, CPR, etc.).

Online Wills

Thanks to the Internet, online wills are becoming increasingly popular. With an online will, people are asked a series of questions through a web portal, which the legal experts then use to create the will document. The will must be printed off and signed before 2 witnesses (remote signing is possible in some parts of the UK).

There are DIY will kits where people download templates to create a will. These kits can be purchased online in stores such as Amazon. The great part about DIY kits is the cost; they are inexpensive compared to seeking the services of a professional.

How To Make a Will

Though it is possible to create a simple will without professional help, most people seek the help of chartered legal executives or solicitors. It is best to choose legal professionals who specialise in probates and wills. You shouls also ensure they are licenced with professional bodies (for example, the Solicitors Regulation Authority). There are many such professionals in the UK; you can find one through search engines like Google.

What If You Live Abroad

Around 5.5 million British expats live abroad, many of whom own property and other assets in the UK and overseas. It is unlikely that a will written in the UK will be valid in overseas countries or vice versa. The best solution is to create two separate wills in each country in question: one will cover the assets in the UK and the second for the other country of residence.

Making The Will Legal

For the will to be legal in the eyes of the law, the person making the will must:

• • Be 18 years of age or older
• • Have written it voluntarily
• • Be mentally sound
• • Ensure the will is written down
• • Sign it in the presence of 2 witnesses who are aged 18 or over
• • Ensure the 2 witnesses sign the will in their presence.

Signatures and Witnesses

The person making the will and the 2 witnesses need to sign the same will document. They must see the person and the act of actually signing the will document clearly. Similarly, the person making the will must see the 2 witnesses clearly and the act of the 2 individuals signing the will.

Both witnesses do not need to sign at the same time. If the person making the will is unable to sign, another person can sign on their behalf.

If it is not possible to meet with the witnesses physically in person, it is feasible to watch the signatures take place remotely. Thanks to the advancement in video conferencing facilities such as Zoom, Google Meet, and Microsoft Teams, the law in England and Wales recognises remote signatures.

Updating and Changing the Will

A will should be reviewed every 5 years or if major changes take place in a person’s life. Examples of major changes include:

• • Getting divorced or separated
• • Getting married (this cancels any previous wills)
• • Moving homes
• • Having a child
• • The executor of the will passes away.

Updating and changing a will is termed a codicil and will require signature in front of 2 witnesses, just like when the will was created in the first instance. If significant changes occur, creating a new will is the better option. The new will should explain the revocation of any previous wills.

Keeping The Will Safe

A will should be stored safely at home or with a solicitor, a bank, a Company that offers storage facilities, or The National Probate Registry (in Newcastle).

The executor (the person who carries out the wishes of the person), relative, or family member needs to know where the will is stored.

Planning Ahead

A will lets you decide what will happen to your possessions after death. Without a will, the law will determine who receives your possessions. Since making a will is a straightforward process, leaving a will is an excellent idea. That way, all your wishes will be met and eliminate potential complications with family and friends.