Drawing up a will is essential for ensuring that your savings and assets are distributed according to your final wishes, yet many people fail to prepare one for fear of the cost. A basic will can start from £99 and end up at around £550.
Understandably, a DIY will offers a cheaper alternative, usually costing around £20. Looking online you can even find cheaper options. But while an off-the-shelf will may seem attractive at this price, it can be a risky approach: if errors are made, or if the strict witnessing rules are not followed correctly, the document could be invalid.
The implications of that can be serious. Not only do you risk leaving your family with a financial and emotional mess, but your legacy could be eaten away by legal bills or unnecessary tax.
Getting the wording wrong
Most wills follow some general rules for what you say and how you say it. These standard ways of writing things are tried and tested and they remove any confusion about what you mean – even if the language seems unusual at first. Using the wrong wording could mean that your instructions aren’t followed, or even that your will isn’t valid. So it’s a good idea to use a template that has the standard sections and legal terms already included.
Most wills follow a general rules for what you say and how you say it. Even though the language may seem strange at first, these are standard, tried and tested ways of writing things that remove any confusion about what you may mean.
Using the wrong wording could mean that your last wishes aren’t follows, or event hat your will is invalid. So it’s best to work with a professional will writer who can ensure that your will is worded correctly to safeguard your legacy.
The Rules of Intestacy
If you die and there is no valid will in place, your estate is distributed according to what are known as the rules of intestacy.
Couples who are married, or in a civil partnership, and have no children, will now inherit the full estate if their partner dies without leaving a will. Where children are involved, under the new rules, the surviving spouse or civil partner now gets all the personal property of the person who has died, the first £250,000 of the estate and 50% of the remainder of the estate. The remaining assets are then held for the deceased’s children.
The rules do not apply to those who live together and are not married, which means cohabitees do not automatically have rights to their partner’s estate if they die without leaving a will. So it is vital to ensure that not only you have a will in place, but that it is correctly and professionally written to ensure that your estate goes to the people you have chosen.
Get a professional will
We offer simple wills from as little as £99 to give you complete peace of mind that your legacy is protected for life without the burden of huge costs. Take a look at the wills we offer and get in touch to discuss the best option for you!
