Nobody likes to think about the end. But when you get older and you have a family, you start to consider what you would like to happen to your property when you die. A common question is; can you write your own will?
The answer to this question is yes, you can write your own will. But it is important to realise that this is not a straightforward thing to do and you must make sure you know what you are doing. Let us take a look at why it is beneficial to have a will and when you are able to write your own.
People often debate whether they should make a will or not. Of course, there is law in place in England and Wales that will distribute your estate if you die intestate or without a will. There are pre-set rules that the court will follow to share out your money and property. In particular, this covers spouses and civil partners and your children. But this may not be how you want your estate to be distributed.
When you have a will in place, you can make sure your money, possessions and property go to your loved ones in the way that you want it to. You can set out your wishes and know they will be carried out when you die. This can give you peace of mind and know your family will be taken care of later on in life. In addition, you can choose to leave money or property to charities or other causes that are important to you.
Before you start writing your will, it is recommended that you value your estate. Create a list of all your assets. This includes your bank and saving accounts, investments, cars, property and personal belongings. Do not forget to consider your debts too. For example, debts will include a mortgage or outstanding loan.
Next will be deciding how you want to divide all of your assets. This is going to depend on your individual situation. Perhaps you want to leave your grandchildren something. If you do not have any family, maybe you want to everything to charity. This is going to be your decision.
Do not forget to choose executors for your will. These will be people that you trust to follow your will and distribute your estate for you when you have died.
If you do not follow the rules for validity, your will does not count when you die. Thus, it is essential you under how to make your law valid. First of all, you need to put your will in writing. This is going to demonstrate your wishes and how you want to divide your estate. At the end, you will need to sign the document. This should be your normal, recognised signature. It will be necessary for two independent witnesses to be in the room when you sign the will. This is ensuring your identity and that you were free and voluntarily signing it. In addition, your two witnesses must sign and confirm it was you that signed the will.
It is important that you choose witnesses that are independent of the will. In other words, they should not be your spouse or civil partner or your children. This can mean they lose their right to inheritance later on. In addition, avoid making the executor of your will a witness too.
Once you are finished writing your will, it will be essential to keep a copy of it safe. There are a number of ways you can do this. For example, your solicitor or bank can keep your will or you can deposit a will with the Probate Service.
There are a number of occasions when it is not appropriate to write your own will. For example, if you do not understand how the instructions we have provided, it is best to seek a professional. If you are unsure about writing your own will, the best option is to contact a solicitor. They will be able to give you advice and if they specialise in wills and probate, they can write your will for you. To ensure they are professional and experienced, you can check they are licensed at the Law Society.
If you are suffering from a serious illness, it is recommended that you do not create your own will. For example, if you are suffering from cancer or dementia. It is best to contact a solicitor so that they can help you. It is possible to write a will but they can help you obtain a medical practitioner’s statement. This can validate your will.
If you have complicated wishes for your will, it is best to seek the help of solicitor. For example, if you have step-children, property abroad or you own a business, your will could get complicated. You may spend time writing one and it is not valid. Thus, your wishes would not be carried out. You can know it is done correctly with the help of a solicitor.