The Options for Making a Will

In order to specify how your estate should be distributed upon your death, it is vital that you make a will. A valid will is a legal document that sets out how your young children will be cared for, who should benefit from which assets and who will be responsible for managing your estate after you have died.

There are a number of ways in which a will can be created, and the following guide explains the various options and support that can be received when writing a will.

What Options Do I Have for Making a Will?

A will can be written independently or with the support of a solicitor or financial adviser. Many people have the confidence to create their own will, whereas others prefer to employ the support of an expert to ensure that the contents of the will are thorough and that the document is legally binding. There are a number of will writing firms available, though be aware that such experts will, of course, charge a fee for their services. The will writing options available are laid out below:

Hiring a solicitor to help you write your will

Solicitors maintain expertise in writing wills that are thorough and legally binding. Their skills and support enable clients to feel confident in the validity of the will, particularly if the contents are complex. Individuals who are especially advised to use a solicitor to write their will include:

• Those with a likely Inheritance Tax liability. The current threshold is £325,000 - estates exceeding this value will have an Inheritance Tax bill.
• Those who have complex family situations such as those with former partners, estranged children, financially dependent relatives or those who predict potential disputes amongst family.
• Those whose permanent home is outside of the UK
• Individuals who share a property with someone that they are not married to
• Individuals who want to make provisions for a specific person's interests after their death, such as those who have a disabled family member.
• Those who are concerned about legal options or those who require the expertise of a specialist.
• Those who own assets abroad
• Those who need to set up trusts

Using a will writing service to help you create a will

Will-writing services allow individuals to benefit from the experienced guidance of firms who help clients create legally binding wills. It is important to recognise that a will-writing firm is not necessarily legally qualified and is not guaranteed to be experienced. Will writing firms are not regulated in the same way as solicitors and so clients do not have the same level of legal protection as they would when using a solicitor to write their will. To ensure that the services received are protected, individuals should seek out a will writer who has a membership to a professional organisation.

Will-writing services are offered by several charities. These services are sometimes provided for free, but the charity will hope for a donation.

Writing Your Own Will

Those who feel confident enough to do so and who have relatively simple needs, may choose to write their own will. There are a number of templates available online and for purchase which will guide people into writing a legal document, though this option is only advisable for those who have simple affairs.

People who may choose to write a will on their own include those who are married or in a civil partnership, those who do not have children and those who want to leave all of their estate to their spouse or civil partner when they die.

It is important to follow the template fully to ensure that the will is legally enforceable. This includes ensuring that the will is signed and dated, witnessed and signed by the witnesses and that the document revokes any previously created wills. If the guidelines of the template are not followed properly, there is a chance that the will would be deemed invalid, and this would result in the testator's wishes not necessarily being observed as they intended.

So which option for making a will is best for me?

In the end, which option for making a will is the best option for you will depend on your particular circumstances. If you are on a tight budget and your requirements are simple (i.e. you want to leave everything to your partner for example), you may opt for the DIY approach which is likely to be the cheapest option. Whereas if your circumstances and requirements are more complicated, you are likely to benefit from the professional experience and expertise that can be provided by having a solicitor write your will. This of course will be more expensive than the DIY option, but will help to ensure your wishes are correctly and legally documented in your will.