Making a will is important as it ensures your assets go to your desired beneficiaries. A solicitor ensures the will is written correctly and minimises mistakes that can invalidate the will.
Providing clear instructions within the document will also reduce the chance of any conflicts or issues arising. It can also be helpful to review all assets, including properties, and indicate which beneficiary receives what.
In this guide, we’ll take you through everything you need to know about making a will. From where to store your will to what you should include in your will, you’ll know what to expect from the process.
Why You Should Make a Will
There are many reasons why making a will is a good idea. Depending on your circumstances, this ensures your loved ones are taken care of when you pass away.
Here are some benefits to keep in mind when making a will:
Distribute gifts to loved ones and/or charities
Reduces the amount of tax and financial strain
Minimises the chance of challenges
Outlining plans for children under 18
Selecting your executors
If you don't make a will, the intestacy rules will apply. This means you have no say in how your estate is divided up when you die.
It is important to keep in mind that there are certain things you should not include in a will. Read more on 14 Things You Should Never Put in Your Will.
How to Make a Will
Knowing how to make your will properly will ensure that it is done as efficiently and professionally as possible. The total cost of making a will is dependent on where you have it written up and filed. It can also be influenced by the value of your estate and how complex it is.
Read more on how much does it cost to make a will with a solicitor
Here are the main options for making a will:
Hire a Solicitor
If you don't want the hassle of writing your own will, a solicitor can write your wishes and make the will. Solicitors are regulated, meaning they can be trusted to keep your will safe. They’ll ensure that there aren’t any mistakes that can void the document. They can also sign the will on your behalf and store accompanying documents such as safe combinations and passwords. The downside to solicitors is that they are the most expensive option.
Will Writing Services
Will writing specialists tend to cost less than solicitors, but there is still a fee involved. You can find charities and banks that offer free will services if you meet certain criteria. There is also Free Wills Month which is available for those over 55. Something to consider is that specialist will writers will only handle estates that are small and straightforward.
Make The Will Yourself
The cheapest option is making the will yourself. However, this is not recommended as you will not have the legal security that using a professional service offers. Unless you have adequate legal experience, making your own will could result in costly mistakes. This can potentially void the document.
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How to Make Sure a Will is Valid
You must meet certain criteria to ensure the will is valid. If any of these are missed, it can invalidate the will.
Here is what you must follow to file a valid will:
You must be 18 or over
You must be of sound mind
You must be writing the will voluntarily
The will must be made in writing
Signed in the presence of 2 witnesses who are over 18
Signed by the same 2 witnesses in the presence of the testator
You can search for a will using the Will Register Search.
What to Include in a Will
The best thing to do when writing your will is to create a checklist. This ensures everything is covered and encourages you to be as clear as possible.
Here is what you should contain in your will:
Your Personal Information
If you hire a solicitor or will writer, you must provide them with current personal information. This includes:
- Your full name
- Your date of birth
- Current address
- Relationship status
- Full names of your children and their dates of birth
Money and Assets
You’ll need to compile a list of your assets and any money you have in the bank as well as investments such as stocks and shares. Your assets can include expensive goods such as jewellery, cars, works of art, and property. You must state all properties you solely own as well as those you jointly own. This also includes assets and bank accounts that you own abroad.
Pets
Pets are classed as part of the estate meaning that you should dictate your wishes should your pet live following your death. You need to decide who will look after your pet, but remember that you must receive the beneficiary’s permission beforehand.
You cannot leave money directly to them. However, you can leave the money to the beneficiary and state your wishes. This money can then be used for your pet’s upkeep including food and vet bills.
Beneficiaries
Naming your beneficiaries and what they are entitled to. In the case of mirror wills, you would likely name your spouse to inherit your estate and vice versa. If a beneficiary has died and the will has not been updated to reflect this, their inheritance is void. The gift will be distributed among the other beneficiaries through the rules of intestacy.
There are exceptions to this rule such as the death of a direct descendent. Their inheritance will be distributed among any surviving children and grandchildren.
Letter of Wishes
A Letter of Wishes is also known as an Expression of Wishes and gives you the chance to discuss the distribution of your estate in detail. For example, if there are reasons why you have left a certain gift to a family member, you can give your explanation.
You can detail your funeral and burial plans. You can specify a place for the funeral, such as a Church, Mosque, Synagogue, or other spiritual building. You can also include what should be done with your remains. For example, whether you wish to be buried in a cemetery or cremated.
It’s important to note that your requests may not be followed as there is no legal obligation to carry out your wishes. Also, if your will is found after death, there is a chance that it may be too late. This is why it's important to have your affairs in order and your will stored/written with a qualified solicitor.
If probate is required, your will becomes a public document. However, a Letter of Wishes will always remain private whether probate takes place or not.
Executors
You will need to name your executors in your will. They will be responsible for distributing your assets after you die. Therefore, it’s important to choose people who you trust to carry out your wishes. When you have decided who you wish to appoint as executor, you must list their full name and address. Make sure you receive their permission first as they can apply for a Deed of Renunciation which removes their legal responsibility.
If you can’t think of anyone suitable to be the executor, you can appoint a professional such as your solicitor.
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Where Should You Store Your Will?
It’s important to inform your executor where the original copy of the will is kept. Make sure you inform them in writing more so than verbal. You have several locations to choose from with pros and cons for each. You should choose the right location to suit your needs and budget.
Here is where you can store your will:
At Home
Leaving your will at home or with a family member can be tempting as it is a free option. However, it is not recommended as there is a higher risk of the will getting damaged and lost. There is also the chance of the will being contested if the beneficiaries question its authenticity.
Bank
You can store your will at your bank where your executors can access it when you die. Some banks charge a small fee for this service while others may offer it for free. Make sure you don’t leave the will in a bank deposit box. Probate is only granted when the original will is produced. However, executors do not receive access to the contents of the safety deposit box without probate approval.
Probate Service
You can store your will and codicil with the HM Courts and Tribunals Service (HMCTS), also known as the Probate Service. There is a flat fee of £22 to deposit the will and your dependents will have access to it after your death. However, while you are alive, only you can access your will. You can’t request your solicitor to withdraw it on your behalf.
Solicitor
A lot of people choose to leave their will with their solicitor. This is one of the safest choices because solicitors are regulated, meaning you are protected if the will is lost or damaged. The downside to storing your will with a solicitor is that it is one of the more expensive options.
Will Writing Service
A specialist will writing service can be cheaper than solicitors. However, they may not provide as much legal protection as a solicitor. It’s important to thoroughly read the terms and conditions before proceeding with this option.
How to Change Your Will?
You should assess your will after a significant life event such as marriage, divorce, or the birth of a child or grandchild. Even when such events don’t occur, you should look over your will every 5 years. This ensures that it is as up-to-date as possible and decreases the odds of any mistakes being made.
If major changes are required, you should write a new will from scratch. This will work out cheaper and avoid any confusion.
In England, Northern Ireland, and Wales, getting married voids any existing wills unless the will reflects the nuptials. In Scotland, this is not the case.
Read more on how much does it cost to amend a will
Finding a Solicitor
To change your will, you should consult your solicitor as they will provide advice on the best next steps for you.
Compare My Move’s partner network connects customers with the best will writers in the UK. Fill in our will writing comparison form to compare up to 6 quotes and save on your will writing fees.
All partners must pass our verification process before joining our network. For will writers, this includes being regulated by one of the following:
- Solicitors Regulation Authority (SRA)
- Council for Licensed Conveyancers (CLC)
- Law Society of Scotland (LSS)
- Law Society of Northern Ireland (LSNI)
- Chartered Institute of Legal Executives (CILEX)
- The Institute of Chartered Accountants (ICAEW)
- Institute of Professional Will Writers (IPW)
- The Society of Will Writers (SWW)
