Personal Law > Wills, Trusts & Probate > Making a Will

Making a Will

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Wanting the ultimate say in how your estate is managed following your death is of prime importance to many. After all, your money, property/properties, shares and personal possessions are a material representation of your life’s work. Since you can’t take them with you, it’s very likely you will want cherished loved ones to inherit your legacy – and this is achieved by creating a Will. Fountain pen and stamp on a last will and testament. The creation of a Will allows an Executor(s) (the person, or people, you have nominated in your Will to manage your estate) to resolve claims for your estate’s assets after your death by distributing them according to your wishes as expressed in the Will. As such, a Will is one of the most important documents to get right. Within it, you choose the name of an Executor(s) – including a possible substitute Executor(s) – who will handle the estate. You will also name the people you have chosen to receive your assets, whether as a cash gift, personal effects, property or your residuary estate. At Foys, we have seen first-hand some devastating consequences when a person dies without securing or completing a Will. Grieving relatives are left with an estate with no instructions that leaves everyone without influence over who receives what. This causes the Rules of Intestacy to apply, meaning that someone you do not want to have claim to your estate, can end up doing so. Conversely, a person who you wanted to have part (or all) of your estate may be left without receiving it.

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FAQ's

There may be personal reasons as to why you change your Will or it could be more of a formality. You do need to change a Will if you have since been married or have entered into a civil partnership as this act cancels the previous Will. However, you don’t have to edit the Will if you have divorced with your partner or ended the civil partnership. Any gift to your ex-spouse/partner is deleted unless you want to specify otherwise. You may want to make additions or detractions to your pre-existing Will for personal reasons and this is something we can help you do at Foys. Lastly, you do not need to change your Will if a person moves address or even changes their name. You just need to update these details with the Will Writing service provider so that it makes it easier for them to be tracked down during the process of executing the Will.
The Will writing process can be disputed if a person is unhappy about the share they have received. They can do this under the Inheritance (Provision for Family and Dependents) Act 1975. When a Will is disputed, you need to have the best advice available to help you navigate this situation. This is exactly what you’ll get from the team at Foys.
In your Will you will appoint people who you trust as the Executors, who will then have the duty to administer the estate according to your wishes on who should inherit when you die. You can include funeral wishes, appoint guardians for minor children, include specific gifts and trusts if necessary. A Will can also be used should you not be married but live with a partner to ensure that they are protected and provided for in the event of your death.
Although spouses have rights under the Rules of Intestacy, a Will is still required to ensure that your estate is distributed to those you wish to benefit. It can be used for estate/tax planning purposes and protecting your children by appointing guardians should you and your spouse pass away. Also should you already have a Will in place and then enter into a marriage this will revoke your current Will and therefore you should make a new Will with your new spouse.
A Mirror Will is a Will made which reflects the terms of another person’s Will. The usual scenario for this is spouse / cohabitee’s each making a Will that deals with assets in the same way as each other. A typical example is where spouses leave their estates to each other and then to their children when they both die.
There are various types of Wills that can be made to suit individual circumstances; some examples are:- - Simple Will - Mirror Wills - Life Interest Trust Wills - Discretionary Trust Wills - Bespoke Trust Wills i.e. Disabled Persons Trust/Vulnerable Persons Trust. We encourage you to book a no obligation free advice appointment to discuss which type of Will would be appropriate for your circumstances.
A Will is a legal document which directs what happens to your assets after you pass away. Even if you think your circumstances are ‘simple’, a Will can make the administrative process easier for your loved ones after you die. A Will is especially important in circumstances such as where you are unmarried, have stepchildren or you do not wish your spouse/children to inherit all of your estate. Your Will can direct that your assets pass to family, friends or charities in proportions that work for you. If you die without making a Will, the rules of intestacy apply whereby the law decides who receives your assets.

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