The Different Ways To Create A Will

Using A Solicitor

There’s no legal requirement to use a solicitor to either draw up your Will or as a witness. However, if your Will is not going to be straight-forward, for example, if there is a business involved, then it is advisable to consult a solicitor because there are specific formal requirements that make a Will valid and the terminology used in Wills can be complicated.

Additionally, you may benefit from having a solicitor reduce a potential inheritance tax bill, check your Will for any mistakes and to ensure that it has the effect you want. Rectifying misunderstandings and disputes after your death may generate legal costs, which will be taken from any money in the estate.

Situations where you should use a solicitor:

• You share a property with someone who is not your spouse or civil partner
• You’d like to provide for a dependent who is not capable of caring for themselves
• Where there may be members of an extended family that may make a claim on your Will
• Your permanent residence is not in the United Kingdom
• You have overseas property
• You own or part-own a business

You should note that there will be a charge involved if you use a solicitor in any part of the Will-making process.

Making Your Own Will

You can successfully create your Will without professional assistance. Will templates can be purchased online or from many stationery shops. There is little cost involved and it is convenient to draw up your own Will. However, it’s also very easy to make mistakes when writing or signing a Will, which can result in it becoming vague or even invalid.

If you do decide to make a Will yourself, ensure it is signed and witnessed, checked over many times for errors and number each page, leaving no blank spaces.

Using A Will Writing Company

Will writers don’t have to be qualified or regulated like solicitors do. However, it is advisable that you check that they’re a member of a recognised trade body, for example, the Society of Will Writers or the Institute of Professional Will Writers.

Using a Bank

You can use a bank to make your Will. Do note that if you appoint your bank as the executor of your estate, they’ll charge a high fee (anything up to 5 % of the estate), however complex the estate.

The Cost Of Making A Will

However you approach the creation of your Will, using a professional service will, unsurprisingly, cost you more than if you created the Will yourself.

A shop or online Will costs a few pounds, whereas using a solicitor, will writer or bank may cost upward of £100, depending on the complexity of your estate. If creating Mirror Wills (you and a spouse or partner want the same Will), the costs are typically less if you have them written at the same time.

What should be included in the Will?

The main points to consider:

• How much money, property and possessions you have, including savings, pensions, insurance policies and shares
• The names of any beneficiaries and what you’d like to leave them
• The names of those you’d like to care for any children under 18
• Name(s) of executor(s) of your Will.

Executor

• The Executor holds a very important role and they’ll ensure (as much as possible) that your wishes are carried out after your death
• They must gather all the assets of the estate, pay any debts, any applicable taxes, funeral and administration charges out of money you’ve left. They will distribute assets to beneficiaries
• The role could be taken on by family or friends, a Solicitor or your bank.

Requirements For A Valid Will

For a Will to be valid, it must be:

• Made by a person who is 18 years old or over
• Made voluntarily and without coercion from any other person
• Made by a person who doesn’t lack mental capacity
• In writing
• Signed by the person who the Will belongs to and two witnesses are present
• Signed by the two witnesses – once the person making the Will has signed it

It is advisable that the Will includes the date on which it was signed.

If a Will is not deemed legally valid, the estate will be shared out under the Rules of Intestacy which may not be in accordance with the instructions in the Will. Please see our guide on Why Make a Will for more information on Intestacy Rules.

Storing Your Will

You can store your Will wherever you’d like to. However, you do need to ensure that your executor knows where it is stored.

If you make your Will through a solicitor, then they usually store it for free. If you use a Will Writer, they may charge a fee to store it for you.

Glossary Of Terms

Beneficiaries
The people that will benefit from your estate. In other words, those that you will give your assets to once you die.

Executor
They will manage your estate once you’ve died in accordance with your wishes.

Inheritance Tax
A tax paid on money or property that is left to a beneficiary has received from someone who has died.

Intestacy rules
The specific rules that apply to your assets if you die without making a Will.

Mirror Will
Identical Wills that a couple make, leaving their estates to each other.

Solicitor
A qualified legal professional that deals with conveyancing and the drawing up of wills, amongst other legal matters.

Will Writer
A specialist in Will Writing, although does not have to be qualified like a solicitor does.

Useful Contacts

Citizens Advice
www.citizensadvice.org.uk/family/death-and-wills/
Contact: www.citizensadvice.org.uk/about-us/how-we-provide-advice/advice/

Government website
www.gov.uk/make-will
Contact: https://www.gov.uk/contact/govuk

HMRC – Inheritance Tax
www.hmrc.gov.uk
0845 302 0900

Institute of Professional Will Writers
www.ipw.org.uk
0345 257 2570

The Law Society
www.lawsociety.org.uk
020 7242 1222 (England)
029 2064 5254 (Wales)

The Law Society of Scotland
www.lawscot.org.uk
0131 226 7411

The Law Society of Northern Ireland
www.lawsoc-ni.org
028 9023 1614

The Society of Will Writers
www.willwriters.com
01522 687 888