Though nobody likes to think about it, we’re all going to grow old one day and eventually pass away, and it’s important to be prepared with regards to making your will and protecting your loved one’s inheritance. Your loved ones will be forced to go through years of grief if you neglect to make a will, and if you don’t do it while you’re in full control, it could be contested by others after you’ve passed away.
There are three main ways you can make a will; you can either do it by yourself, hire a solicitor or utilise the services of a will writer. Toor your local area, this article will give you a brief guide to all three aforementioned options.
When it really comes down to it, you could simply write down your wishes on a napkin to make a legally binding will as long as somebody witnessed you sign it, but you’re better off buying an inexpensive will writing pack that will offer guidance. However, you really should only write your own will if you either want to leave everything to your husband/wife or your children should your partner pass away before you.
Wills Writing Services
If making your will could be rather complicated, such as if you’re leaving the ownership of your business to somebody else when you die, you’ll need to let the professionals provide you with assistance instead of writing your own will. Most accredited will writers can draft wills no matter how complex, though be aware of the following drawbacks:
- Storing your will – Solicitors have the ability to better protect your will than wills writers with regards to storage, in most cases.
- Regulations – Will writers don’t have the same regulations as solicitors, so you might not have as good protection if it comes to going to court (though this shouldn’t be an issue if you create your will while you’re in good health).
- Some writers aren’t fully qualified – It’s important to choose an accredited will writer regardless of how much experience others may have.
Your final option is to hire a solicitor to create your will, and this might be the best option if you have a large estate worth over £325,000 or finances and possessions totalling over £650,000 because you’ll have to pay inheritance tax on large sums of money. However, solicitors are tightly regulated, meaning your will and your wishes will be protected should anything go wrong. Just be aware that hiring a solicitor is the most expensive method of making a will.
What’s Right for You?
It all depends on your current situation when deciding how to make your will. Just make sure you don’t do it by yourself if your wishes are complicated, and always hire a solicitor if you need protection. However, a will writer can effectively handle most will matters.