Planning for tomorrow, today

Call 0800 0131 684 to enquire now

What is a Will and why is it important to write a Will?

While it’s not a subject you may want to think about, writing a Will is incredibly important and you should have one in place, even if you don’t think there is much value in your estate. In most cases, it means your loved ones will get sentimental trinkets that will keep your memory alive for them.

In this overview, we will look at what a Will is and why you definitely need to put one in place.

Compare Will Writing Services

Field marked * is optional

(success) Please enter your first name
(success) Please enter your last name
(success) Please enter a valid postcode
(success) Please enter a valid contact number
(success) Please enter a valid email address

By clicking "Get me a quote" you are confirming you have read and agreed to our Privacy Policy.

Thank you for requesting a FREE Will writing quote.

We will now match you up with suitable Will Writers who will call you to discuss your requirements. The Will Writers we work with aim to get in touch within 48 hours.

If you are considering writing a Will, you might also be interested in a funeral planning.

A funeral plan allows you to pay for your funeral, ensuring that your loved ones aren’t faced with any unexpected costs.

Thank you for using Funeral Planning Experts.

We will now match you with suitable funeral plan providers who will call to discuss your requirements. The providers we work with aim to get in touch within 48 hours.

To learn about funeral plan packages, we have put together an overview of the different levels of funeral packages available.

What is a Will?

A Will is a legal document that outlines how you would like your estate (such as property and savings) to be divided among your family, friends and some organisations. It is a written document - which is witnessed by two people to make it valid  and it contains the names of the people you want to bequeath things to.

For example, if you have a piece of jewellery that has been passed down generations of your family to the eldest daughter and you would like to continue this tradition, you need to make this wish clear so it is followed. If you have been involved with a charity, such as the Macmillan Nurses when a family member was diagnosed with cancer, you can leave a donation when you die, but it needs to be clearly stated in a Will.

Making a Will is also a major part of your Estate Planning. Without a Will, your estate might be liable to Inheritance Tax that could otherwise have been avoided. By putting a Will in place, you can ensure that you Estate passes to your beneficiaries as tax efficiently as possible when you die.  

There are different types of Wills:

It is important you understand the options that are available and you choose the most appropriate type of Will for you.

Writing a Will

There are several different ways of writing a Will. You can write a Will yourself, but it needs to be signed and witnessed by two independent adult witnesses. Alternatively, you can look at appointing a solicitor or specialist Will Writer.   

Generally, it is only advisable to write you own Will if your wishes are very simple.   

Who needs a Will?

You may think that Wills are for people who have a lot of money and property to leave behind, but this really is not the case. It doesn’t matter if you don’t even own a house or have very little in the way of savings; you need to put a Will in place before you die.

A Will guarantees that any personal belongings or assets you do have will go to the people you want them to, rather than this being decided by someone else. Everyone needs to have a Will in place, simply because it can alleviate grief after you are gone as your family will not need to rifle through your things and decide who gets what.

What can be included in a Will?

Almost anything can be included in your Will you just need to make sure it covers all the things that are important to you.

Everything you own - including your home, land, cars, savings, furniture, jewellery, artwork and shares - can be covered by a Will. It is the only way your assets can be distributed according to your wishes once you have gone.

The contents of a Will are not limited to assets alone, as it can also dictate who will look after your children if they are still minors. Without this set of instructions, it could be left up to the court to decide who becomes their guardian (if the other parent is out of the picture).

Without a Will in place, your family could be left guessing who you would want to have your belongings - or even worse, they could be left arguing.

What is a Will executor?

You can also name someone as the executor of your Will - meaning that they will be tasked with carrying out your wishes to the letter. They will be responsible for disposing of your possessions and will be legally responsible for sorting out your financial affairs, such as paying off any outstanding debts and paying any death duties due such as Inheritance Tax.  

You can have up to four executors, but they all must act jointly. Quite often people only appoint a single executor, quite often a spouse or adult child, and this is acceptable if the estate is simple. However, it is a good idea to choose two executors in case one of them dies before you do.

What happens if I die without a Will?

Dying without a Will means that your Estate will distributed according to intestacy rules and your money, property and possessions will be divided according to the law, rather than by following your wishes. This means that someone you don’t want to receive anything could become a beneficiary and the people you want to pass something on to could end up with nothing.

Plus, a Will allows you to minimise your Inheritance Tax, ensuring that the value of what you give away to beneficiaries is maximised and you are not paying more Inheritance Tax than necessary.        

If you have not got a Will, it is seriously worth considering drawing a Will up. Funeral Planning Experts can help you get a no obligation quote.

Compare Will Writing Services Get me a quote