Many people avoid making a will because they are concerned that the process is too complicated. Laws regarding wills and probate are frequently changed and updated. There is currently a movement by the Law Commission for England and Wales to change the formality rules to make the will writing process easier. The probate solicitors in London at SCL Wills and Probate make the process easier with professional will writing services.
While you can make a will on your own, having a solicitor can be helpful when the will is not straightforward. Will writing can be simple or complicated, depending on several factors. The size of the estate, amount of money and property being distributed in the will, the age of the people inheriting the property, and provisions for minor children can impact the process of creating a will.
The Process of Making a Will
Experienced will solicitors in London can guide you through the process of making a will. The first step is to meet with the solicitor to discuss your situation, assets, and how you want them allocated after your death. The solicitor can recommend methods of reducing inheritance tax, help you set up trusts, and make other important decisions for your estate.
Your will should provide information about who you want to benefit from your will. This incudes who will inherit your money, property, and other possessions, as well as who will look after any children under the age of 18. You may also include information about what should happen if any of the people named in your will should die before you.
It is important to ask your solicitor for advice about any situations that are not straightforward. This may include owning property overseas, having a business, or there are family members who are not named in the will who may attempt to make a claim on the estate. Because each estate is unique, the advice of will and probate solicitors can help you plan for complicated situations.
A solicitor will make sure your will meets all legal requirements to be considered valid. For a will to be valid, the person making it must be over the age of 18, be of sound mind, and make the will voluntarily without coercion. The will must be in writing and signed in the presence of two witnesses. Your witnesses must also sign the will in your presence. Anyone over the age of 18 can be a witness to a will, but the witnesses cannot be people who are named in the will.
The cost of making a will with wills and probate solicitors is another reason people hesitate to write a will. When they get around to actually doing it, most people are surprised to find that it was not as expensive as they thought. The price may be well worth avoiding the hassle that your family and loved ones will have to endure when no will is left.
Once your will has been written, you should review it periodically, especially at the time of major life changes. People often update wills after a marriage, when children are born, after getting divorced, or when they gain money or possessions. Your solicitor can offer advice about updating or making changes to your will.