The advice to make a Will as soon as you have assets to leave behind has been reiterated by one organisation, because according to the Law Society, as many as one in three people die intestate (without a Will).
Paul Sharpe, the chairman of the Institute of Professional Willwriters, explained that the number of people writing a Will tends to fall during economic downturns such as those being experienced by many families over the last few years.
“Households tend to have more pressing needs on their disposable income,” he pointed out.
However, this can be a dangerous approach to take, as it may result in people dying intestate and their families having to get involved in expensive court cases to claim what should have been theirs in the first place.
Despite this, he suggested that Britons are heeding the advice to only seek a professional when getting a Will written, as he reported members being asked by customers about their regulated code of practice.
Earlier this month, Brian McMillan from The Society of Will Writers had warned it is important to look for credentials when choosing a solicitor, rather than simply going for the cheapest provider.
While this may cost more, it will undoubtedly give the client more for their money too and reduces the likelihood of any problems occurring with the document after it is drawn up, such as it being contested.
Peter Watts, a solicitor and founder of glossLegal also added that when speaking to a solicitor about writing a Will, it is important to ensure they are members of STEP, the Society of Trust and Estate Practitioners which is the foremost organisation for Wills and trusts. The entry requirements for the Institute of Professional Willwriters and The Society of Will Writers are fairly basic, and do not require members to be solicitors. To become a member of STEP has a far more rigorous set of examinations, but is open to all Will writing professionals and specialists.
Making a Will Question: Should I include property abroad in the will I make in the UK, or should I make a separate will in that country?
Making a Will Answer from glossLegal: The Wills automatically cover your worldwide property. This means that you do not need to specifically mention them. The reason for this is the International Convention on Wills, so UK Wills are recognised in other countries.
Having said that, the other country where property is located might have specific rules on who inherits which override the UK Will. For that reason it might be better to have a ‘local’ Will in that country, but care not to revoke/cancel the UK Will. There may also be death tax in that country. Either way, any UK Will to cover all property is better than none, especially as the foreign property might be sold before you die etc. The UK does not have to name foreign property – it is automatically covered and will be left as per the Will to main beneficiaries, unless stated in Specific Gifts.
Cohabitation amongst unmarried couples is now an increasingly common part of modern relationships, but despite this, the government has confirmed it has no immediate plans to consider reform of cohabitation law in this parliamentary term.
The issue of cohabitation has been in the spotlight in recent weeks following a high-profile Supreme Court ruling related to a dispute which emerged after an unmarried couple from Essex bought a house together and subsequently split up, meaning the share of the property each was entitled to was in doubt. However, despite a ruling in the case, Lord McNally has reiterated that the rights of unmarried couples will not be considered in the near future.
Peter Watts, a Will, Trust and Estate solicitor with glossLegal says; “Because of this, it is increasingly important for unmarried couples who live together to write a Will, as it has to be remembered that intestacy law does not recognise unmarried couples”.
“This potentially means that a woman who has lived with a man for many years is not automatically entitled to inherit assets from him in the event of death unless specifically stated in a Will. This can result in the estate passing to a former spouse, or the deceased’s parents or children.”
“We urge all unmarried couples to write a Will which will ensure they put provisions in place, if the worst does happen, that their loved ones and family are catered for in the manner they would want.”
High Court approves William Higham’s wishes following confusion over home-made Will
The dangers of not using a solicitor when writing a Will.
A High Court judge has criticised the decision of a World War Two bomber pilot to make a Will without help from solicitors, after its vague wording caused legal confusion.
William Higham’s family took his Will to the High Court to clarify the deceased’s wish to leave £2 million of his £7 million fortune to the Wigan Leisure and Culture Trust, on the condition bands performed at the city’s Mesnes Park bandstand.
The court heard Mr Higham’s family were not against the money being left to the Trust, but wanted to make sure it was spent in accordance with his wishes in the Will.
Having scrutinised the home-made Will, written in 2008, Mr Justice Mann ruled the money should be used to bring bands to play at the park.
In his ruling, the judge said: ‘The Will was home-made, without the assistance of a solicitor. The result demonstrates what a bad idea it is for a layman to do that, and has led to the expenditure of considerable costs.’
Peter Watts solicitor at glossLegal says: “This sadly highlights the importance of using a Will writing service by a solicitor, and not a DIY Will. Caution should also used to Will writers who are not solicitors”.
There is a growing trend of people leaving user names and passwords in their Wills which is causing more problems than it solves.
According to a study of online activity by Goldsmiths College and web hosting company Rackspace, 11% of British adults have left, or are considering leaving, user names and passwords in their Wills.
Peter Watts, solicitor and founder of glossLegal warns against the practice because of the risk from fraudsters.
He said: “One element people don’t realise with Wills is that they become documents of public record when they go to probate and potentially could be accessed by fraudsters”.
“I would recommend not putting sensitive information in a Will, but rather in a separate note stored with it, which is also easier to update as passwords can change over time.”
Fabio Torlini, VP of cloud at Rackspace, said: “With the large investment so many UK adults seem to be making in digital treasures, it’s imperative that people consider the associated security and legacy implications”.
We’re firm believers in do-it-yourself projects such as DIY home improvements, and financial projects that you can pursue on your own to save money. However, certain matters inevitably require solicitor approval.
Writing a Will is one such undertaking that should not be attempted without a professional checking it. There are many Will writing methods such as buying a form from the post office, or online Will writing tools, but you should always ensure a solicitor checks your final Will. Don’t get in over your head as in a matter as serious as completing your Will, professional help is a must.
1. A Will must be error-free
If you make a mistake in your Will, or if you are not clear enough regarding your wishes, you are not going to be around to explain yourself or make corrections. Some common errors found in DIY Wills include:
• Forgetting to update the Will
• Adding or updating amendments improperly and, in the process, nullifying the Will
• Forgetting to sign the Will
• Not telling anyone where the Will is kept
Your passing is likely to cause a lot of grief and heartache amongst your family and friends. I doubt you would want to add confusion over the terms of your Will to their loss.
2. Vague wording used in a Will may cause confusion
Keep in mind that no matter how much time you might invest in writing your own Will, many ‘homemade’ Wills suffer from non-specific language. Far too often, the language used in these DIY Wills is vague and can easily be misinterpreted. A solicitor based Will technology will use standard language that doesn’t equivocate, so it can be easily understood by executors of a Will, the probate court, and beneficiaries, as applicable.
3. Your assumptions for writing a Will are likely incorrect
If you decide to write your own Will, you may do so with certain built-in assumptions that may not actually transpire. A few examples include:
• If you Will property to an heir, what happens if you outlive that heir?
• If you Will an asset to a friend/relative today, what happens if that asset is gone when your Will is executed?
• If you outlive children designated as beneficiaries in your Will, what happens?
• If you leave a house to an heir, who is responsible for the expenses of keeping up the property? What happens if the house is sold? Would it be better to just leave the house as part of the residue to the main beneficiaries?
4. A handwritten Will may be considered invalid
Your handwritten Will may not be recognised by the Probate Court if it does not follow proper guidelines. It needs to be witnessed, and signed in the correct manner.
5. Will writers are not always Solicitors
Many businesses offer their Will writing services as professional Will Writers, but in most cases they are not qualified solicitors. Will writing is an unregulated area of the Law, so anybody can become a Will writer. Will writers often say they are members of the Society of Will Writers or the Institute of Professional Willwriters, but the entry requirements for both these organisations are very low. A solicitor who is a member of the Society of Trust and Estate Practitioners (STEP) is the ultimate seal of approval.
Pet owners are failing to set provisions for pets when writing their Wills.
Although research shows over 1.5 million people have provided for their pets in their Will, as few as one in ten pet owners have made adequate provisions for them.
With many families in the UK having pets, this can turn into a substantial problem and puts pressure on local animal sanctuaries.
Individuals may often have informal arrangements with friends or neighbours to care for their pets in the event of death, but in the current economic times these arrangements often do not come to light.
Consequently it is vital for individuals when making their Wills to ensure that all beneficiaries are adequately provided for, to avoid loved ones being left bereft.
Some animal shelters run schemes to re-home pets once their owners have passed on.
The RSPCA’s home for life campaign is vital in ensuring animals are not left in crisis once an owner dies.
Becky King, manager at the Bryn y Maen centre in Conwy, told BBC News: “By putting it in their Wills that they want the RSPCA to look after their pets, it gives an assurance to the owners that their loved animal will be cared for.”
Having rich parents is no guarantee of financial security, according to a survey conducted by Barclays Wealth which found that 5 per cent of people worth between £1million and £2m had disinherited relatives. The figure rises to 13 per cent among those with assets in excess of £10m.
37 per cent of the well-off individuals questioned said that they had experienced “conflict” with those closest to them as a result of their wealth. Four out of 10 said they “do not trust their children and stepchildren to protect their inheritance”.
Overall, 6 per cent of high net worth individuals in Britain said they did not intend to pass on their wealth, with many believing that earning money is more likely to lead to happiness than inheriting it.
Wealthy individuals in other parts of the world, such as the Middle East, Africa and Latin America, were far more trusting of their descendants and experts believe this could be a result of Britain’s higher rate of relationship break-up and remarriage.
Barclays Wealth states in the report, published on Monday: “As second and third marriages become more common, this is thought to lead to more complex relationships with both children and stepchildren in relation to wealth and inheritance planning.”
Some of Britain’s best-known figures have chosen not to leave their millions to their children in their Wills, often because they want them to make livings for themselves.
Anita Roddick, the founder of the Body Shop, once said it was “obscene” to leave money to family and bequeathed her £51m fortune to charity rather than her two daughters.
Nigella Lawson, the television chef, declared in 2008: “I am determined that my children should have no financial security. It ruins people not having to earn money.”
Making a Will is one of the most important things that you can do for your loved ones and ensures that your wishes will be followed after your death. Despite that, over two thirds of people in the UK die each year without making Wills (intestate) leaving the government to decide who will inherit your estate (assets, money, etc). Will writing is not a complicated process and although you can do it yourself, it is safer to use a professional will writing service. This will ensure that your Will has followed the correct legal procedure and is valid.
glossLegal was established by a solicitor and STEP member with 20 years experience Will writing and drafting professional legal Will documents.
The intestacy laws are simple to understand and in the absence of a Will, they will be applied. For example, the law does not count any non-legalised relationships such as cohabitation as grounds for inheritance. If this is your situation, it might be that following your death, your beloved partner of 15 years is left with nothing while your long lost brother inherits the lot! An extreme sounding scenario but sadly this is not that uncommon. Friends or carers are likewise ignored, despite any extenuating circumstances or special relationships you may have.
If you have children or dependents, your Will allows you to appoint guardians and outlines their future care in accordance with your wishes on what is best for them. You can also make a charitable legacies or gifts which are often vitally important for their survival.
In some cases, you may need specialised legal advice before Will writing. A watertight Will is essential if there are a number of people, who could make a claim on your property, for example. Remember that Wills must be updated following changes of circumstances, such as marriage, divorce, or a birth.
Wills make life much easier for your family after your death. You can state whether you wish to be buried or cremated and the type of service you want. Although you may feel at the time of Will writing that you do not really care, it will help your family at a time when they will be struggling to cope with bereavement following your death.
Wills help keep things simple and avoid the cost and upset of litigation after your death. Many people enjoy the process of Will writing and find peace of mind knowing that all their affairs are in order.
glossLegal provide one of the most professional, cost effective and convenient online Will writing service.
For most people, divorce is a traumatic experience. Unfortunately, as is the case of many other events, such as death, there are certain administrative and other duties that require urgent attention during the process of divorce and afterwards. These include, among others, notices to your:
· Employer
· Pension and medical aid funds,
· Beneficiaries mentioned on policies and annuities.
Many divorced persons who drew up a Will during the marriage, fail to review the document as a matter of urgency. On divorce (decree absolute) any benefit you may have left your ex-spouse is removed by law. You should, however, draw up a new Will to avoid any ambiguity and ensure you name the correct beneficiaries and Executors.
