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Writing A Will

A will is a legal document which lets you decide what happens to your property and possessions after your death. Although not required by law, it is the best way to ensure that your estate is passed on to family and friends exactly according to your terms. Otherwise, your assets may be distributed according to the law rather that your wishes.

The importance of writing a will

There are several good reasons to prepare a will in case of death:

You can decide how your assets are going to be shared - if you don't leave a will, the law dictates who gets what
If you're an unmarried couple or in civil partnership (same-sex or not), you can insure that your partner will be provided for
In case of a divorce, you can decide whether to leave anything for your former partner

You can insure that your beneficiaries don't have to pay more Inheritance Tax than necessary
If you have children, you may need to make arrangements in case either or both parents die

Preparing your will

While it is possible to write a will yourself, it is advisable to recruit the services of a professional solicitor as there are various legal formalities that have to be followed to make sure that your will is valid. You may also need legal advice for some of the more complicated legal matters. Your solicitor can also advise you on Inheritance Tax Matters.

A solicitor should be able to visit you in your home, care home or hospital. The fees for writing a will, depend on the complexity of your affairs and the experience level of your solicitor.

If you prefer to write the will yourself, you can get advice from voluntary organisations such as:

Citizens Advice Bureau
Age UK

What to include in you will

Before contacting solicitors or writing the will, you may want to think about what you want to be included in your will. Things to consider include:

The amount money, property or possessions you may have
Who you want to benefit from your will
Who will be the guardian of any children under 18 years of age
You can contribute a gift to your favourite charity, if you wish to do so
Who your executor will be (i.e. the person who will look after your affairs after your death)

You can appoint your executor by naming them in the will, otherwise the courts can appoint other people to be responsible for this job.

Keeping your will safe

Once you have prepared a will, you should place it in a safe location and notify your executor, relative or close friend about its location. If the will is prepared by a solicitor, they will normally keep the original and send you a copy. You can request the original document if you wish to hold it.

Updating your will

It is good practice to review and update your will every five years or so. You should also update it after any major event in your life - getting married, getting divorced or separated, having children or buying a new house. All changes should be done by 'codicil' (a document that amends or supplements the previous will) or by making a new will from scratch.

Writing a will in Scotland

The Scottish law on inheritance varies from the one in England. If you live in Scotland it's best to get in touch with a solicitor or a voluntary organisation such as Age Scotland or the Citizens Advice Bureau.

For executors who are not familiar with probate valuations and the process of obtaining probate, we have compiled a list of frequently asked questions.

If you require any further information, we will be pleased to help and assist. Call Foxtons on 07890 554 106

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