Why should I make a will?

• Our clients make their Wills for a variety of different reasons. Here are just some of them:
• Control the distribution of your Estate. If you don't have a Will then the way that your assets and property will be distributed will be left up to the authorities (Laws of Intestacy 1925). Unsurprisingly not many people want this to happen as it may result in a number of problems - not least the fact that a surviving spouse may have to share their inheritance with other relatives. If you're unmarried and don't have a Will these Laws may also mean that your partner inherits nothing at all. If you're single your money could actually end up going to the State.
• Appoint Guardians for your Children. A Will is one of the most practical ways of appointing Guardians for your children. In the case of a married couple, if you and your partner die without appointing Guardians then the Local Authorities will do this on your behalf. In cases where a couple is unmarried and have children born prior to 2003 it may actually mean that the father may not get automatic Parental Responsibility.
• Protecting your Wealth. One of the most popular reasons for arranging a Will is to ensure that your accumulated wealth is not wasted by beneficiaries or inherited by those you do not want to access your funds (e.g. on remarriage).
• Leave a Legacy to Charity. A Will provides you with the opportunity to benefit your favourite Charity (free of tax) by leaving a legacy.
• Look after a family pet. If you aren't around your will can help ensure that your much loved pet will be looked after.
• Set up Trusts. These can be established for the benefit of children to ensure that they do not inherit too early and waste money or assets you have given to them. You can also put longer term conditions in place to guarantee that Trust funds are only used for certain things.

Who are Willcraft?

• We are part of the largest specialist Estate Planning organisation in the UK and write thousands of Wills each year - many of which have already passed though the Probate process. Each document that we produce is insured up to £2,000,000. Most of our clients are introduced to us either by Professional Advisors (IFAs, Accountants,) and we are also the exclusive preferred supplier of Estate Planning Services to a number of the UK's largest and well known companies.

Shouldn't I use a solicitor?

• Most solicitors do a little bit of everything rather than being specialists - a little like your local GP. As a general rule they will have had no more than a few hours training on Wills and Probate prior to qualifying. A good Estate Planning consultant can give better and more cost-effective advice and there's no reason why you shouldn't use one. Before you do perhaps see what their experience is and whether they carry PI Insurance. We have a great team of consultants based all over the UK who are backed up by a central legal team who are expert in what they do. So we're confident that you'll get the very best advice available.

What about those packs that cost £9.99 from the High Street?

• Rumour has it that solicitors make more money out of sorting out incorrectly compiled DIY Will Packs than they do out of writing normal Wills for their own clients. DIY packs are fine if you use them for relatively simple requirements and as long as you follow the instructions carefully. And if we had a penny for every client who has told us that they bought one but never got around to doing it...

I've seen ad offering a Will plus Home Visit for £19.99?

• Every industry has its cowboys. Rather than pretend that they don't exist we'd rather warn you about them as many people have been caught out by scams such as these and have ended up paying far in excess of £19.99. As a general rule of thumb a home visit service should cost between £75-£150 for a single Will.

What happens if I die without making a Will? (dying intestate)

• Depending on your Marital status, it can be complicated to work out who will get what.
• If you die without making a Will the management of your estate and any other assets minus all your debts is overseen by administrators appointed by the court. In some cases, your possessions may go to the Crown.
• To find exactly what may happen to your assets see table below.

Who gets the estate if there is no will?

• All debts (including loans and mortgages) must be repaid first, whether the dead person has made a will or not. After that, the Administration of Estates Act 1925 sets out who gets what in every situation where there is no will.
• To find exactly what may happen to your assets see table below.

Do I need to make a new will if I get married?

• Yes, unless your Will was made in anticipation of your marriage the marriage will revoke an existing Will.

Do I need to make a new will if I am divorcing? 

• Yes, until the divorce is resolved, your spouse may be the main beneficiary under your current will. Once the divorce is complete, your will remains valid but any provisions relating to your former spouse will no longer apply.

What about civil partnerships?

• Since the introduction of new legislation in December 2005, members of a Civil Partnership will be treated the same way as married couples for the purposes of Intestacy Law.
• See our Civil Partnership page for further information

What is a Mirror Will?

• A Mirror Will is prepared when husband, wife or partner make almost identical Wills leaving everything to each other and thereafter to the children (if any) or, if there are no children, to a named beneficiary. They are separate legal documents with similar content that "mirror" each other. When writing a Mirror Will in this way it is important to add at least one extra executor and beneficiary to each Will to safeguard the estate in the event that both should die together.

How long is a Will valid for?

• A Will remains valid for an unlimited period of time. It is valid until revoked. This can happen as described in the situations below.
• By destroying it - Physically destroying your Will usually revokes it. A Will can be destroyed by another person, but it must be at the request of the testator. Accidental damage of a Will doesn't revoke it but there might be difficulty in proving that it is valid.
• Rubbing out or cutting off the signature of the testator or witnesses may be enough to revoke the Will. Crossing out the Will or writing 'revoked' across may not be adequate. If part of a Will is destroyed, only that part of the Will is revoked.
• By making a new Will - This revokes your old Will. But remember if you don't destroy your old Will, it might come back into force if your new one is revoked.
• By marriage (but not in Scotland) - Unless your Will states that it is made with your approaching marriage in mind. Your Will is automatically revoked by marriage.

Where should I keep my will once it's made? 

• It is important that your last will and testament be kept in a safe facility where it cannot come to any harm from fire, flood, theft or any number of other perils.
• There is no formal requirement as to where a Will should be stored but obviously it should be kept in a safe place.
• For a small annual charge we can keep your last will and testament secure and immediately available (when required) to your executors at our head office storage facility.
• Click here for further information.

Can I change my Will after I have made it?

• You can change your will whenever you want to. In fact it is important that you review your Will from time to time and make any changes that are required due to altered circumstances.
• Any changes have to be made by incorporating them into a document called a Codicil.
• If the changes you want to make are quite substantial, it may be better to make a completely new Will. This will automatically revoke your earlier Will.
• Click here to request a FREE WILL REVIEW.

What is probate?

• "The legal procedure to establish that a will and codicil are genuine and valid, and is evidence that executors have the authority to carry out the terms of the will."
• Probate is an official form that gives the executors of the will the right to deal with your assets and property. It acts as proof that your executors have the authority they need to handle your estate.
• See our probate service for further information.

What is Inheritance Tax?

• A tax payable as a percentage of your estate to the Government. Anything over the inheritance tax threshold is liable to tax at 40%. The threshold is currently set at £325,000. If your estate is of a greater value it would mean your family would have to pay out a significant sum in inheritance tax after your death.

What is a trust?

• A trust is a legal entity in itself. They are Assets that are administered by one individual or entity for the benefit of another. Another word for a trust is a settlement. Sometimes trusts are created under a Will and sometimes they are created during the lifetime of the settlor. Trusts are often set up for tax benefits or asset protection.

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