Why make a Will, and how to make a difference
Why make a Will?
People are sometimes superstitious about making Wills. They think that they might die sooner! But none of us knows when we are going to die, and it’s advisable to make a Will for the following reasons:
- Peace of mind. Knowing that your loved ones are properly provided for and that your affairs are in order. You can appoint guardians of infant children and give funeral directions.
- Control. You decide whom you want to benefit, for example relatives, charities and friends. If you don’t make a Will, the antiquated, inflexible “intestacy rules” will apply, and your property might even pass to the Government. Wills are incredibly flexible; you can generally do what you like with your cash and belongings.
- Tax planning. Your solicitor can advise about Inheritance Tax liability and can draw up Wills in a way which minimises the amount of tax payable.
- Clarity. A professionally drawn up Will should be clear, valid and unambiguous. A home-made Will can sometimes be unclear and/or ineffective. Home-made Wills have on many occasions led to disputes between family members and are often completely ineffective.
- Choice of Executors. You can choose whom you want to deal with your property after you die. You might choose a professional person (such as a solicitor), a relative or a friend.
Protecting your family (note: legal advice not available to geese)
How to make a Will
You can discuss all your requirements and hopes with your solicitor, who will offer advice as to the best way to organise your affairs in accordance with your instructions. A meeting for a very simple Will may only last 10 minutes! But it often takes a while longer, especially if there are complicated instructions. But once it’s done, it’s done (unless and until you decide to make a new Will a few years down the line).
Your solicitor will draft your Will and, when you are happy with the contents, arrange for the Will to be signed. Wills have to be executed properly. If they have not been properly executed, the chances are they will be completely invalid. So it pays to get advice.
Old-fashioned Will
Will Aid – November 2008
Will Aid is a charitable fundraising initiative taking place this November. It’s a super scheme that helps out nine UK charities, including ActionAid, British Red Cross, Help the Aged, NSPCC and Save the Children UK.
The idea is for people to make basic Wills without paying a solicitor. Instead, you give a charitable donation to Will Aid, suggested £75 for one Will and £110 for two “mirror” Wills. We solicitors prepare the Will for you as we would for any client, but we don’t get a bean! Other than the warm feeling of doing something nice.
Will Aid
There are many people in Britain who haven’t made Wills, and Will Aid is an ideal opportunity to bite the bullet. At Winston Solicitors, we’re taking part in the scheme this November, so feel free to get in touch and make an appointment during this month. Will Aid only applies to basic Wills, and we will agree an extra charge for anything else.
You could make a difference not only to you and your family but also to others around the world!
Interesting points
- Around half the people in England and Wales (27 million) do not have a Will, and very often they are the people who need one the most.
- Any Will made before a marriage will become void on the wedding day, unless the Will makes specific provision for the marriage. Some elderly people have been known to get married on their death bed, thinking it the sensible thing to do, but in fact by annulling any previous Will they have often unwittingly left loved ones with nothing.
If you have any questions or wish to make a comment, please use the comment form below or contact us at Winston Solicitors LLP.
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By Stela Yordanova, 3 November 2008 @ 1:15 pm
Whether large or small, a legacy gift to the British Red Cross is a wonderful way that you can help to ensure that we will be there, years from now, to care for people in crisis.
http://www.redcross.org.uk/willaid2008
By Law Chat, 9 April 2009 @ 10:31 am
You can now read about what happens if you DON’T make a Will by reading this Law Chat article: http://www.lawchat.co.uk/2009/04/what-happens-if-you-dont-make-a-will/