Your will is a legally binding document that sets out who gets what when you die.
A will lets you decide who inherits your money, property and personal items when you die. If you die without a will then the government’s rules of intestacy decide who inherits your estate.
What do I need to include in my Will?
When you’re thinking about making a will you need to consider the following:-
- Executors – the people who are responsible for administering your estate, paying tax and making distributions
- Guardians – the people who will be responsible for bringing up your children if they are under 18 when you die
- Cash Legacies – fixed cash sums, generally used for token amounts, not the bulk of the estate
- Residuary Estate – who will inherit your money, property and personal items
- Further beneficiaries – who would inherit if your original beneficiaries die before you
Won’t my spouse get everything anyway?
It is wrong to think because you’re married you will automatically inherit everything. Is it also wrong to think there is such a thing as a ‘common law partnership’ which means you don’t need to make a will.
Is a Will the same as a Letter of Wishes?
No. A will is legally binding and sets in stone who gets what. A letter of wishes is simply that – an expression of things you would like to happen to help guide your executors (and guardians if you have children under 18).
How do I sign my Will?
There is a very strict protocol to follow when you sign your will. Failure to do so renders your will invalid, leaving you ‘intestate’ on death. You can read more here about how to sign a will.
What are ‘Mirror Wills’?
Mirror wills are generally made by couples in terms that ‘mirror’ each other. They (amongst other things) are helpful in making sure the combined estate of a couple passes correctly, even where they were to die together.
Can I make my own Will?
Yes you can, and you can build your own house if you’d like! (Excuse the humour). The point is that a will can fail for the tiniest of reasons, and if you don’t deal with the preparation of wills regularly you might miss it. This leaves you intestate at which point the law decides who gets what – not you. Read our article on can I make my own will?
How much does it cost to make a Will?
Check out our latest prices here >
Expert Wills Solicitors
Everyone should have a will. Contact us today to get started. It is a simple and easy process with QLAW.