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Will Writing Services Jargon & Questions
Will Writing & Wills FAQ's
- Who needs a Will ?
You need a Will if you have a child ...
If your estate is worth more than £5000.00 ...
If you have family and friends ...
Even if you are single ...
- Why should I have A Will ?
Making a Will is the only way to ensure that your wishes
are carried out after your death.
If you have not made a valid Will, your property
will pass according to the Laws of Intestacy. This may
not be what you would have wished and in any event it is likely
to take longer to finalise than if you had made a Will,
during which time your beneficiaries may not be able to
draw any money from your estate.
Each year, the Government makes billions from people who die
without a Will - Intestate. This money should have
gone to their loved ones but they failed to make arrangements in
time.
The Law Of The Land, as set out in The Administration Of
Estates Act Of 1925 and applicable to England and Wales
states that:
If your estate is worth over £5000.00 and you have
not made a Will, then your estate will be
distributed under the intestacy laws.
If you are a parent - you should consider who would look after
your orphaned children in the event of your death.
This is particularly important in the case of 'one parent'
families or unmarried parents living together where a valid
Will appointing guardians is imperative. Otherwise,
Social Services and the Courts may decide your children's
future. The outcome may not be according to your wishes.
If you are married - do not assume 'my other half will get
everything'. Children, siblings or parents may have a claim. If
you are living as a couple but not legally married, you will be
treated as a single person and a surviving partner may get
nothing at all. One thing that you can be certain of - there
will be lots of arguments and disputes at a time when the family
has to cope with the loss of a loved one.
If you are married with children and you die without a Will
then your spouse will get the first £125,000 and personal
chattels plus the interest only from half the remaining
estate. The other half will go to the children immediately,
along with the first half when your spouse dies.
If you are married with no children and you die without a
Will then your spouse will get the first £200,000 and
personal chattels plus half the balance of your estate.
The remainder will pass to your parents. If they have both
died, it will pass to brothers and sisters. If you do not
have any then all of your estate will pass to your
surviving spouse - property in joint names may
pass to the survivor.
If you are single - you will want your estate to be divided
amongst friends, relatives and charities of your choice in the
proportions you want.
If you are single and living with someone - your partner
will not automatically inherit anything when you die
unless you write a Will.
If you are retired - it is possible you made a Will a
long time ago. If so, it will need updating to include
additional grandchildren or deletion of persons you no longer
feel you wish to leave anything to.
- Does my Will ensure my estate is distributed
as I wish ?
Having a Will is a safeguard and ensures that your
estate will be distributed to your family as you wish.
- Have you had a child recently ?
If you don't have a Will, as a parent it is important you
make one as soon as possible.
Today, it is common practice for people to live together outside
of Wedlock. If one of the partners die, the other does not
automatically receive anything, even if they have been together
for years.
Death is obviously a subject we do not want to think or
talk about and we generally associate death with older
generations. So many young people do not have a Will
simply because they feel too young - nobody is too young to
make a Will.
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