How to Make a Will: All You Need to Know

Making a Will is incredibly important. A Will is a key piece of documentation that affects loved ones when you pass away. However, many Brits are left wondering how to make a Will, which often results in the process being held off.

To learn more about how to make a Will and the importance of doing so, continue reading.

What is a Will?

A Will is a legal document that allows you to decide what happens to your money and possessions after death. Creating a Will provides peace of mind to many.

Making a Will ensures the right people can access your money and belongings - a decision that can’t be made easily once you’re no longer here. As well as your assets, a Will includes your funeral arrangements, property distribution, and children's arrangements.

The Importance of Making a Will

A Will is important, as it offers an effective way of protecting your assets. Outlining your final wishes and how you want your assets handled will prevent others from interfering or trying to claim your property. Regardless of how many assets you have, you should write a Will:

• Tax benefits - You could reduce Inheritance Tax by making a Will.
• Partner - Without a Will, it won’t be possible for your partner to inherit your assets.
• Children - A Will allows you to make arrangements for your children in the event of your death.

We should all choose how our money is dealt with after death, and a Will allows us to do just that.

Making a Will: Step by Step

You can legally make a Will in the UK if you’re 18 years or older, except for Scotland, where you only have to be 12 years or older. Making a Will involves several key steps.

Step 1 - Record Your Assets

Before writing your Will, you should value your estate. This involves listing your assets and debts - including properties, land, vehicles, savings and investments, pension funds, and unsettled debt. This ensures a clear distribution of your assets, allowing you to assess your belongings and who you want to have them.

Step 2 - Choose Your Executors and Beneficiaries

While creating a Will, you’ll need to choose two important groups of people:

• Executors - Legally distribute assets in line with your Will.
• Beneficiaries - Inherit your assets from your Will.

You can choose up to four executors, who can also be beneficiaries. Choosing both executors and beneficiaries should be considered carefully - after all, these people will be handling your affairs when you can no longer do so.

In most cases, executors and beneficiaries are the people closest to you, such as a partner or your children. However, it’s advisable to discuss with executors beforehand to ensure they’re aware of the responsibilities ahead of them, such as dealing with your debts.

Step 3 - Write Your Will

The final stage of the process is to write up your Will. Once your Will is ready to be signed, you must have two witnesses to make your Will legally valid. They must also sign your Will in your presence, and all three of you must remain in the same room during this final step.

Your witnesses must be over 18 and can’t be your beneficiaries. We advise reviewing your Will every five years in case circumstances change.

How to Get Making a Will Off Your To-Do List

Have you had to make a Will on your to-do list for some time? A staggering 61.7% of people in the UK are planning on making a Will. Although this shows that people want to create a Will, a huge number of them aren’t doing it. Not to worry - we’ve put together our top tips to get making a Will off your to-do list:

• Prioritise - Put a deadline on making a Will and stick to it. Even if you give yourself six months to get it sorted, you can book an appointment months in advance, so that you know it will be addressed. It's easy to put things off if there isn’t a hard deadline.
• Budget - Speak to us for estimated fee costs based on your personal circumstances, then tuck away an affordable amount each month until you have saved up. You really can’t put a price on the peace of mind that having a Will gives you.
• Age - Rethink your age. You should still consider making a Will in your 20s or 30s, as life can be cruel and take people at any age. Give yourself a deadline to make your Will by a certain date and take proactive steps to make it happen.

Can You Make a Will Without a Solicitor?

You can make a Will without a solicitor, but it’s not advised. Wills are legal documents that must be written correctly and signed in front of two independent witnesses. To avoid issues and mistakes, it’s highly recommended to work with a solicitor - especially to ensure your Will is legally valid.

You can also consider a professional Will writer - however, Will writers aren’t qualified solicitors, and may not be regulated. Ultimately, the safest and most accurate way to create a Will is with the help of a trusted solicitor.

Key Takeaways

• A Will is an important legal document
• Making a Will means you still have control over how your assets are managed once you pass
• It’s recommended to make a Will with a Wills and Probate solicitor

Find a Trusted Solicitor Today

If now feels like the right time to make a Will, Bell Lamb & Joynson can help. We'll be by your side as you plan for the future. Our firm has been operating for over 200 years, making us experts at what we do.

We have a team of experienced Wills and Probate solicitors who will ensure a streamlined process. You can expect friendly, bespoke advice and exceptional service while making your Will. Rest assured that by choosing us, you’ll be in the safest hands.

To discuss our Wills and Probate services further, please don’t hesitate to contact us today on 0344 412 4348. We look forward to speaking with you!