Protect Your Family with Your Will
No new parent wants to think about one day not being around for their kids. It’s especially difficult to consider the possibility that you might die while your children are still young. While it is of course statistically unlikely for that to happen, it is a tragedy that you should be prepared for, so your child has the best protection possible. Having a child comes with a lot of responsibility and writing a Last Will and Testament will ensure that your child is in good hands if the worst happens to you. It can seem unnecessary, especially if you are a new parent, but wills are not only about your assets – they are a very useful and essential legal tool.
What Is a Will?
Your Will, commonly known as a Last Will and Testament, is a legal document that just states your final wishes – how you want things you own and those who depend on you to be handled if you die. It puts your desires into a legal format that can be enforced in the courtroom.
How Do You Write a Will?
Everybody should have a will, especially if you have a family and/or other people are depending on you (including non-familial dependents and even those relying on your business if you have one). There are a few different ways to write your will. You could choose to use a solicitor, a will-writing service or you could opt to write the will yourself.
- Using a Solicitor to Write Your Will
Solicitors are legal experts who are trained and experienced in writing wills, so you can be assured that they are going to make you a will you can trust.
According to the Money Advice Service you should consider a solicitor if:
- Those who you leave your estate to might have to pay Inheritance Tax (currently in the UK, the threshold for a tax-free inheritance is £325,000, including any properties you have)
- If you have a complicated family situation, including former partners to whom you still pay some living expenses, you will want to make sure that your estate will be divided as you wish, avoiding familial quibbles.
- You might want to protect a specific person’s interests once you are deceased, including a disabled family member.
- If you want questions answered from somebody you truly trust, who is qualified to give you as much advice as you need.
To draw up a single will, it is likely to cost you between £145 to £240. This rises to £150 to £300 for a couple’s joint will. According to UK Care Guide it can cost between £500 to £600 for wills with complex affairs such as overseas properties or trusts.
- Using a Will-Writing Service
When you are looking to create a will, it is common to search online for will writing services near me. The reason that this simple search engine query is so popular is because getting a local will-writing service is often cheaper than getting a solicitor but still gives you some support and advice. Will writing services usually cost around £75.
- Writing Your Own Will
You can do a DIY will, but be aware that although this is the cheapest way of writing your Last Will and Testament, it is also the riskiest. It is only suitable if your affairs are very simple, like leaving everything to your children in equal shares. It is important that you follow legal guidelines such as getting it signed, dated and witnessed for the will to be legally valid.