When Should You Write A Will?
If you have children, you will need to make a Will so that arrangements for the children can be made if either one or both parents die.
It may be possible to reduce the amount of tax payable on the inheritance if advice is taken in advance and a Will is made.
If your circumstances have changed, even if you have previously made a Will, it is important that you review your Will to ensure that your money and possessions are distributed according to your wishes.
For example, if you have separated and your ex-partner now lives with someone else, you may want to change your Will. If you are married or enter into a registered civil partnership, this will make any previous Will you have made invalid.
Which Will Do I Need?
There is no need for a Will to be drawn up or witnessed by a professional. If you wish to make a Will yourself, you can do so. However, you should only consider doing this if the Will is going to be straightforward. Please click on the link to find out whether our Standard Will or Bespoke Will is best suited to your needs.
It is generally advisable for a qualified person to check a Will you have drawn up to make sure it will have the effect you want. This is because it is easy to make mistakes and, if there are errors in the Will, this can cause problems after your death. We offer to attend the signing of your Will documents to ensure that there are no mistakes.
Sorting out misunderstandings and disputes after your death could result in considerable legal costs, which will reduce the amount of money in the estate.
Glossary
Beneficiaries are the people who will inherit from the Will
Executor is the person named in the Will who will act to make sure your wishes, as requested in your Will are acted upon.
Probate is required when a Will is read; it may be a simple process depending on the size of the estate. We, at Bondzie
Consulting, are always available to help in these matters and are happy to give information and advice when required.
Trustee(s) are usually the same as the Executor, and in our Standard Will they need to be the same person(s). They look after the assets in your Estate until they are distributed.
Witnesses are legally required to sign a Will to make it valid, there must be two. (If you have Mirror Wills, they can be the same person for each Will)
