What is a Will
and why should
you write one?
A Will is an important legal document in which the Will maker (also known
as a testator) can state how they would like their belongings (assets,
chattels and property) to be distributed when they are no longer around.
The document also gives specified people (called executors) the power to
handle the estate after the Will Maker’s death.
A Will is ordinarily revoked by any new Will or by marriage. It can be used to
appoint guardians for minor children and prevents someones estate passing in accordance with the laws of
intestacy. These laws or rules govern what will happen to someones ‘things’ if they died without a Will. More
information on Intestacy can be found here.
There are a number of reasons why you may wish to write a Will. Here are some of the most common
reasons:
• You’ve got divorced and no longer wish for your ex-spouse to inherit on your death
• You’ve had a child or become a grandparent and would like to make provision for the child. In the case
of a child, you may wish to appoint guardians for the infant
• If you’ve inherited money yourself, you might want to consider a Will to mitigate any tax you might be
liable for or to ensure it passes to your intended beneficiaries
• Marriage revokes a Will. You may have written a Will before you got married but this could be revoked if
there is no provision for a new Will
• To make provision for your favourite charity
• To provide you with peace of mind
• Being able to make plans for your funeral
If you have lots of lower value items that you would like to leave in your Will you might be advised to list these
in a letter of wishes. A letter of wishes is not binding on your trustees but is easier to make changes to than
having to change your Will every time you want to change a gift. Your letter of wishes should be kept with
your Will.
Who can Write
a Will?
The truth is, anyone can write a Will. You could get a Will kit from a stationery
store and write your Will but you would be missing out on expert advice
specific to your circumstances and if something went wrong your would
have no course to redress. Practically, you ought to consider getting a
professional to write your Will. By professional, we are referring to someone
who is a member of the Society Will Writers and has signed up to our body. You may also wish to choose a
solicitor. Solicitors are regulated by the Solicitors Regulation Authority. Not all Will Writing firms are regulated.
We only regulate individuals and only those with up to date certificates of compliance and ID cards are
members of the SWW. If in doubt, contact us for clarification before proceeding.
how much will
it cost?
That’s the million dollar question. The truth it is depends on who you use
and where you’re based. Often you’re not just paying for the Will. You’re
also paying for advice. Don’t think that a £25 Will is any better than a £100
Will just because it’s cheaper. Take into consideration the advice you’ve
been provided with, the literature from the company and read through their
terms of business before proceeding. This will set out what is expected of you as a customer but also, what
you can expect from your Will Writer. Ask as many questions as you need to in order to fully understand the
service and only when you’re happy should you proceed.
6
The Society of Will Writers