Is writing my own will a complete waste of time, or not?
Discussion
I haven't got a will. I don't at the moment want to go through the process of paying a solicitor etc to write one. In the meantime, is using an online will-writer better than nothing, or not? It's 30 quid, and I'd prefer to just do it myself to cover the basics. Whaddya think? I keep thinking dying intestate would be worse than having a not-perfect will.
I'e settled on this one if I'm going to use one: http://www.makeawillonline.co.uk
I'e settled on this one if I'm going to use one: http://www.makeawillonline.co.uk
You can get a diy will kit from WH Smiths - I bought one a few years ago for £10 so expect it to be a similar price.
The useful part is that it concentrates your mind on what you actually want to write down - choosing your executor/s and giving full names and addresses of beneficiaries and what percentage of the estate you are gifting them. There are other factors to consider as well ie funeral arrangements, current financial details, login passwords to regular sites so folk can access photos etc. Instructions to the executor that up to date details are stored on your computer under 'xxxx' etc.
Once you've sorted that then most of the work in setting up the will has been done. Then have it checked by a solicitor to make sure everything is OK and legally binding.
The useful part is that it concentrates your mind on what you actually want to write down - choosing your executor/s and giving full names and addresses of beneficiaries and what percentage of the estate you are gifting them. There are other factors to consider as well ie funeral arrangements, current financial details, login passwords to regular sites so folk can access photos etc. Instructions to the executor that up to date details are stored on your computer under 'xxxx' etc.
Once you've sorted that then most of the work in setting up the will has been done. Then have it checked by a solicitor to make sure everything is OK and legally binding.
227bhp said:
Couldn't that be then contested and not worth the paper it's written on?
Where would you leave it?
Why should it be contested ? - if completed properly it says exactly what the Will drawn up by a solicitor would say. Wills must be dated, confirm that it's their final will, revoking all others etc, witnessed etc etc - there shouldn't be any grounds for it being contested.Where would you leave it?
This all assumes that the individual does NOT have any tortuous family relationships - numerous illegitimate kids/separated from wife/house in dispute/own business/property abroad etc etc.
You leave your Will with your Bank/Executor/trusted family member - plus a copy with your own personal papers.
I used Which? Wills to generate my will and letter of wishes.
Its an easy process with the will checked by a solicitor then the final draft provided, all very straight forward.
The will does as you expect, the letter of wishes allows you to provide details on anything you wish, such as give information on bank accounts and pensions and so on.
It's also worth you writing to your pension provider using their forms to nominate your beneficiaries, as legally pension providers don't have to pass your fund onto the estate, having beneficiaries listed would make that process more likely to follow your wishes.
Its an easy process with the will checked by a solicitor then the final draft provided, all very straight forward.
The will does as you expect, the letter of wishes allows you to provide details on anything you wish, such as give information on bank accounts and pensions and so on.
It's also worth you writing to your pension provider using their forms to nominate your beneficiaries, as legally pension providers don't have to pass your fund onto the estate, having beneficiaries listed would make that process more likely to follow your wishes.
Tom Cruiser said:
Think it would be better to spend £300 and have peace of mind. If this makes a dent in the estate then probably not worth making one.
I've done mine without needing a solicitor. It's nothing to do with costs, it was all to do with freedom and flexibility for me to say/do precisely what I wanted. It's also easy to just write another one if any circumstances change - this is something that so many people totally overlook. How many people reading this are absolutely sure that the will they made out some years ago is still 100% accurate ? - all those new children/grandchildren ? - those executors/beneficiaries who died ? - the savings/shares that no longer exist ?Robertj21a said:
Just get the forms from W H Smith, read it all carefully and complete it *properly*. No need for a solicitor.
^^^ This^^^For someone with very simple instructions (maybe those who are single) and with no complicated scenarios this gives your wishes a voice after events
Robertj21a said:
227bhp said:
Couldn't that be then contested and not worth the paper it's written on?
Where would you leave it?
Why should it be contested ? - if completed properly it says exactly what the Will drawn up by a solicitor would say. Wills must be dated, confirm that it's their final will, revoking all others etc, witnessed etc etc - there shouldn't be any grounds for it being contested.Where would you leave it?
This all assumes that the individual does NOT have any tortuous family relationships - numerous illegitimate kids/separated from wife/house in dispute/own business/property abroad etc etc.
You leave your Will with your Bank/Executor/trusted family member - plus a copy with your own personal papers.
I find it an interesting subject, something of relevance to me, but also something I don't know anything about hence why I asked.
I only needed a simple will so I did it from this website.
https://www.lawdepot.co.uk/contracts/last-will-and...
The website takes you through a number of questions and at the end you have to create a user account with them to download it as a Word doc. Choose "Free Trial", then when you have your document you can cancel the trial and get it for free. Just remember to cancel it within a week. You can look at various other legal documents during the free trial period.
https://www.lawdepot.co.uk/contracts/last-will-and...
The website takes you through a number of questions and at the end you have to create a user account with them to download it as a Word doc. Choose "Free Trial", then when you have your document you can cancel the trial and get it for free. Just remember to cancel it within a week. You can look at various other legal documents during the free trial period.
i've decided I may do a free (as above cheers) or cheap one like law pack, to help me think about the questions I need to answer. Then at some point in the next year use a solicitor such as this one I saw via a thread on mumsnet which is good enough for me!
https://www.marlowwills.co.uk/writing-a-will.aspx
https://www.marlowwills.co.uk/writing-a-will.aspx
johnxjsc1985 said:
when we did our Wills a few years ago we thought it would be quite a simple affair nothing to complicated .
We couldn't have been more wrong and if you want to make sure that after your death your wishes are carried out as someone said £300 is very well spent.
It really is a very simple affair for very many people !We couldn't have been more wrong and if you want to make sure that after your death your wishes are carried out as someone said £300 is very well spent.
For single people, or those married with no dependants, it couldn't be much simpler. It may well get more difficult once your circumstances include convoluted family arrangements, businesses, foreign assets etc etc
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