Why do I need a will?

Why everyone should have a will

If you are involved in a dispute over a will then our specialist lawyers are here to help. If you call our free helpline we will assess your case and provide details of no win, no fee funding. Call 0808 139 1599 or send us an email.

As solicitors specialising in cases where there is a dispute over a will we are often asked whether it is essential to make a will. Our answer to this question is almost always an ‘unqualified ‘yes’.Making a will is vital to ensuring that your wishes are carried out, including where your possessions and money go after your death.  It can also save your loved ones from a large inheritance tax bill.  If you die without a will then your estate will be dealt with under the government’s strict intestacy rules; you then have no say where your money and property goes when you die.

Executors

A will enables you to appoint executors who deal with your estate after you die.  By choosing your family solicitor or sensible, organised and trusted friends or family as your executors you can stop people fighting over who deals with the estate.

Guardians

If you have children it is important to consider who will look after them if you die before they reach 18 years.  Remember, step-parents do not have legal rights unless you make express provision in your will for them to be the Guardian of your children.  If no provision is made in your will and there is no living blood relative then the Court may appoint a guardian of its choosing.

Specific Gifts

Your will can leave specific gifts to your loved ones on your death, often tax free. Watches, jewellery and cars are common examples, as is a cash gift to a favoured charity. The intestacy rules do not allow this.

What is my residuary estate?

This is the remainder of your money and property, after all debts, including funeral and administration costs, have been paid and specific legacies have been distributed.  It is very important that you make a residuary legacy in your will to avoid part of your estate being subject to the intestacy rules.

Can I leave instructions for the running of my business?

Yes. Under general law your executors are allowed to run your business for the first year after your death but only with a view to selling it. However, you can leave specific instructions in your will for your executors to continue running your business and even employ staff.

Your will can give many instructions and powers to your executors to act as you would have done had you still been alive, including insuring your property, investing in property and paying out income and even capital to certain beneficiaries.

Who can I use as a witness when I sign my will?

At least two independent non-beneficiary witnesses must be present when you sign your will.  A mistake here can invalidate the whole will. To ensure legal formalities are carried out it is preferable to sign your will in your solicitor’s office where he or she can be a witness to your will together with a colleague.

Dispute over a will

Making a will does not prevent an inheritance dispute arising and a dispute over a will can still occur. However, the chances of an expensive and lengthy inheritance dispute arsing can be significantly reduced. When a will is made you can give specific reasons for not favouring someone who might otherwise have expected to receive a legacy. An expression of such wishes can often be highly persuasive if an inheritance claim is made or there is a dispute over a will.

If you are involved in a dispute over a will and require guidance from solicitors who specialise in this complex field then give us a call on 0808 139 1599 or send us an email. We are always happy to provide a free case assessment and consider whether a case is suitable for no win, no fee funding.

Why do I need a will?

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