- 8th December 2013
- Posted by: Seatons Solicitors
- Category: Articles, Probate & Estates, Wills
WHY DO I NEED TO MAKE A WILL? I DON’T HAVE ANYTHING TO LEAVE TO ANYONE
I’M NOT GOING TO MAKE A WILL – IF I DO SOMETHING BAD IS SURELY GOING TO HAPPEN
MAKE A WILL – ITS FAR TOO EXPENSIVE TO DO THAT!
I DON’T NEED A WILL – MY FAMILY KNOW THAT ANYTHING I HAVE IS TO BE DIVIDED EQUALLY BETWEEN THEM
All of the above are statements commonly made by the public, and reflects some common misconceptions regarding Wills. It cannot be understated that making a Will no matter your age or circumstances is one of the most important legal documents you should have. Many of us have the view that we are immortal, we will live forever, and nothing is going to happen to us. However, we all know whether personally or through the media that people do pass away, sometimes tragically or after a short illness. Without a Will, the grieving family have far more to sort out and this can be time consuming and costly at a time when they should be able to grieve without further stress and worry.
It may surprise you to hear that 70% of the UK population does not have a Will that reflects their personal circumstances, financial situation and final wishes on how they would like to dispose of their property.
When people say “I don’t have anything to leave to anyone” they may not realise that anything they own from property i.e. a house, the contents, a car, jewellery may have to be sold from the estate for division to surviving family members. Furthermore, life insurance policies, and death in service benefits will all form part of your estate. You may have personal items that you would like to leave to specific people, perhaps close friends, not necessarily family. Without a Will, any verbal instructions you may give if not acted upon cannot be enforced, without being written into a Will.
A Will is the only way of making sure that your savings and possessions go to the people and causes you care about. A properly written Will should prevent any disagreements or disputes after your death.
If you think you will fall within the threshold for Inheritance Tax, a carefully planned Will may possibly reduce the Inheritance Tax bill that may be payable on your estate after your death.
It is possible to make your own Will using packs available from stationary shops. However, it is advisable to instruct a solicitor to do it for you.
As far as the costs of making a Will are concerned, these can vary depending on the complexity of your requirements and circumstances.
Instructing Seatons to prepare your Will gives you peace of mind knowing that we will follow your instructions and advise you fully. A simple Will costs from £100.00 plus VAT and a joint Will from £160.00 plus VAT. If your Will is more complicated, we will explain the fees to you in detail. We will also store your original Will free of charge and provide you with copies for your own records. Always ensure that your executors (if you have not appointed Seatons as your executors) know where your original Will is kept.
It is a myth that if you make a Will something is bound to happen to you. However, it is surprising how life often throws up problems and surprises for us. Knowing your Will has been made, according to your wishes is important SO DON’T DELAY – CONTACT SEATONS AND MAKE YOUR WILL WITH US.
Contact our expert Will Writers for a free no obligation chat on 01536 276300 or 01536 311690. We are also able to offer home visits.