Why make a will?

Writing A Will – FAQs

Babyworld, with the help of Gordons Solicitors, answers some of the
most frequently asked questions about writing a will.

Why make a will?

  • A will enables you to make provisions in the event of your death for
    your family and children.
  • A will allows you to appoint guardians for your children, giving you
    peace of mind.
  • Without a will, the law will determine how your property and estate
    is to be dealt with. It is a common misconception that a surviving spouse
    will inherit everything and in the case of unmarried partners, the surviving
    partner is unlikely to have any entitlement to your estate and will
    not be entitled to administer your affairs.
  • Without a will in place, handling an estate of a person who has died
    can be complicated, taking several months and in some cases longer to
    resolve. There may be dispute or uncertainty, which cost time and money
    to resolve. All of these problems can be overcome by putting a will
    in place.
  • There are no benefits to not having a Will and there are numerous
    disadvantages.

Who can make a will?

Anyone over the age of 18 years and who is of sound mind, which means
they fully understand what they are doing in writing their will.

What is a will?

A will is a legal document which sets out what is to happen to a person’s
estate after their death. A will needs to comply with the legal formalities
contained in the Wills Act 1837.

A person making a will is known as a testator/testatrix. To be properly
effective, a will must:

  • be made voluntarily by the testator/testatrix and free from any coercion
    or duress by another person to make their will;
  • be in writing;
  • be dated;
  • be signed by the testator in the presence of two witnesses, who are
    not beneficiaries or the spouse or civil partner of a beneficiary; and
  • be signed by both witnesses in the presence of the testator (and then
    signed by the witnesses in each others presence)

What happens if you have no will?

If a person dies without making a will, they are said to have died ‘intestate’.

Handling an estate of a person who has died intestate can be complicated
taking several months and in some cases longer to resolve.

The law sets out rules as to who can deal with a person’s estate and
what is to happen to their property in these circumstances under the Administration
of Estates Act 1925 (‘the rules of intestacy’).

It will be necessary to apply to the probate office for a ‘Grant of Letters
of Administration’. This gives the person administering the intestate’s
estate, known as the ‘administrator’, the authority to deal with the estate.

Who can deal with the deceased’s estate?

If a will has been made, the people appointed as executors will be able
to deal with the estate. In most cases, the executors will apply to the
probate office for a ‘Grant of Probate’. This is the official document
that gives the executors the authority to deal with the estate.

If there is no will, usually a close relative will take the Grant of
Letters of Administration. Under the rules of intestacy, there is an order
of priority as to who can deal with the estate. The person appointed as
administrator will usually be a close relative like a spouse, adult, child
or parent of the person who has died.

Unmarried partners are not entitled under the rules of intestacy to administer
the estate of their partners, but this can be avoided by putting a will
in place.

Who inherits and intestate’s estate?

Where there is no will, the law determines who inherits the estate. This
will depend upon the deceased’s personal circumstances.

Where there is a surviving husband/wife and children

The surviving spouse will receive the following:

  • the first £125,000;
  • all the personal belongings of the deceased, excluding money, investments
    or business assets; and
  • a life interest in half of the remainder of the estate. (A life interest
    is a principle of trust law, which means an immediate right to use or
    enjoy the property, or receive the income of it usually for the rest
    of their life); and

The rest of the estate will be shared equally by the children. This can
cause problems if the children inherit an immediate share of the matrimonial
home.

Additionally, there may be an inheritance tax bill. There is no inheritance
tax payable on property passing to the surviving spouse and this is known
as the spouse exemption. Without a will, this exemption, which might otherwise
be claimed may be lost.

Where there is a surviving unmarried partner and children

The surviving partner will not be entitled to anything under current
law. The estate of the deceased partner will be divided equally between
the children.

What is a parental guardian?

A parental guardian is a person appointed to have parental responsibility
for a child, with all rights, duties, power, responsibilities and authority
in relation to the child. Once the appointment takes effect the guardian
has parental responsibility. Your will can include provisions to provide
for guardians in the event that take effect in the event that you and
your partner should both die.

How long does it last?

A will is cancelled or revoked by any of the following:

  • if it is deliberately destroyed by the testator/testatrix;
  • a subsequent will; Most wills contain a general revocation clause,
    cancelling all former wills;
  • marriage will as a general rule revoke an existing will;

There may also be a partial cancellation or revocation in the event of
a divorce. If there is a divorce, the will is treated as if the former
spouse had died before the testator and any gifts to the former spouse
will fail.

Best practice is however, to review your every few years to check that
your will is still up to date.

What about later children

Having subsequent children will not revoke your will. Your will can be
drafted to include future children. This is done by making provision for
your children as a group of beneficiaries.

Types of will

There are different types of wills, which can be discussed and include
the following:

  • single will;
  • mirror wills;
  • discretionary trust wills;
  • nil-rate band discretionary trust wills;
  • accumulation and maintenance trust wills

For most people, standard mirror wills are perfectly suitable for their
requirements. The other forms of wills all involve creating trusts. If
however, you would like further information on making a trust will, please
contact Gordons Solicitors.

How much does it cost?

Gordons Solictors LLP is offering Babyworld members a discount on the
normal fee for writing a will

  • Single Will - Normally £150, Babyworld Member £120, SAVE £30
  • Pair of Mirror Wills – Normally £250, Babyworld Member £200,
    SAVE £50

For other Wills and for tax advice please contact Gordons Solicitors
LLP for a quote.

What do I do next to make a will?

Contact Gordons Solicitors who will help guide you through the process
of making a will.

What
will Gordons Solicitors LLP do?

  • Prepare your Will and send it to you
  • Send you instructions on how to complete it
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