Writing your Will
What to consider when preparing to write your Will
Draw up a list of your assets, including any joint assets, and consider who you want to inherit them.
Speak to your partner about what their intentions are for their Will, as this may need to be reflected in your Will.
If you wish to give a specific item such as a picture, piece of jewellery or furniture to a specific person, list these individually giving as much detail as you can.
If you wish to give a legacy to a charity, consider whether you wish to donate a specific cash sum or item, or whether you wish to give a proportion of your estate.
If you have minor children or are considering having children, you will need to consider appointing a Guardian in your Will.
Discuss your choice of Guardian with your spouse or partner and with the person you wish to appoint.
You will need to decide at what age children should inherit. Under intestacy laws, children inherit at the age of 18, but it may be appropriate to delay this until later.
It is advisable to have at least 2 executors. They might be a family members, a trusted friend or a professional person, such as a solicitor, and can be someone who you wish to be a beneficiary.
The cost to write your Will depends on your own particular needs and circumstances. Our charge for a single standard Will (with no tax or trust considerations) is £210.00 + VAT and standard mirror Wills for a couple cost £365.00 + VAT.
This includes storage of your Will indefinitely and registration of your Will with Certainty, a national Will database.
Your Will may cost more if you need to include trusts or tax planning. We will let you know if this is the case at your initial appointment.
Reviewing your Will
Certain circumstances, such as marriage or divorce, can partially or fully invalidate a Will so it is a good idea to review your Will regularly to check it still reflects your wishes.
If you move in with a new partner, but do not marry or enter a civil partnership, you need to consider reflecting this in your Will as Intestacy laws will not recognise your new partner. If you wish to make changes to your Will, speak to a solicitor as you may be able to simply add a Codicil and may not need to have a new Will drafted.
Divorce & Remarriage
You can protect the interests of your children in your Will to ensure that they still receive a share of your property by way of a Life Interest Trust.
Get in touch today. We want to help.
To make an initial enquiry and to discuss your needs in greater detail, please Contact us here and we will be in touch.
Call 0116 212 1000 for our Leicester Office, 01858 445 480 for our Market Harborough Office or 0116 212 1080 for our Wigston Office. Whichever office you call, someone will be available to assist you.
Further Useful Information:
Article: Why Don't You Make a Will?
Downloadable resource: Guide to Making Your Will
Downloadable resource: Guide to Making Your LPA