why you should use a solicitor to write your will.
Many of us go to great lengths to manage things like our finances, our children’s future and education, or our businesses, wanting to feel in control of how our lives pan out. It stands to reason that once we’re gone, we would like the same attention to detail paid to what we leave behind. Surprisingly, research would suggest otherwise, with around half the adults in the UK not having a valid will. Even more concerning perhaps, is that for parents, a will is the only way to legally specify what will happen should they die before their child is 18.
Can you write your own Will and would it be legal?
Yes, you can, but Wills can be complicated and there are significant benefits to using a professional. A Solicitor will be able to help navigate complex estates leaving nothing to chance so that your wishes are carried out. In order for a homemade Will to be legal, it must meet legal requirements and be properly drafted.
Why should you use a Solicitor to write your Will?
Writing a Will is part of estate planning, which is important as there are many practical and legal matters you may wish to get in order.
A solicitor will be able to draw out all of the property and interests that make up your estate, ensuring that nothing is forgotten, working to create a comprehensive Will that accurately reflects your estate and your wishes.
The slightest error or misunderstanding of the use of legal terms can cause disputes amongst family members or may cause the Will to be invalid. This can lead to your estate being treated as if you had died intestate - without a Will. Assets would then be distributed under the laws of intestacy according to a statutory set of rules, which may not be following your wishes.
What about complex finances, inheritance tax, and Powers of Attorney?
If you have complicated finances, or you have a slightly more complex family structure, we would advise you to use a solicitor to draft your Will. Accounting for stepchildren, for example, can be complicated, and could result in those closest to you being unintentionally left with no inheritance.
With the specialist skill and knowledge of a solicitor, you can also plan to mitigate your inheritance tax liability, allowing you to leave more behind for your loved ones. Similarly, when making a Will, many people choose to make a Power of Attorney too. This is for your own protection, so that should anything happen to you, your affairs will be taken care of.
Making a Will is an important decision, so, if you are thinking of writing your Will, or updating the one you already have, please get in touch with our dedicated team. With offices in Exeter, Teignmouth and Newton Abbot we are well placed to help you.
How can Tozers help?
Making a Will is an important decision, so, if you are thinking of writing your Will, or updating the one you already have, please get in touch with our dedicated team. With offices in Exeter, Teignmouth and Newton Abbot we are well placed to help you.
