The Best Kept Secrets in Will Writing
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Everyone knows that it is a great idea to write a will but few people seem to know why or what to put in their will.
Here are some frequently asked questions regarding will writing.
Why is it a good idea to write a Will?
The answer is because a Will is a legal document to which anyone can refer outlining what you as an individual want to happen to your body and your belongings.
Can anyone write a Will?
No. You must be aged over 18. Any younger than that and you will be regarded as a minor and probably the subject of your parent's will.
Do I need a solicitor to write my Will?
No. Anyone can write a will, even a solicitor, but it is not a legal document until two people who are not beneficiaries sign the will as witnesses.
Who should make a Will?
Everyone over the age of 18.
What should go into a Will?
Small items and small amounts of cash. For example you may wish to leave a particular item like a watch or a ring to a particular person like a brother or a niece.
Can a Will stop me paying tax?
No. There are only two things you can be certain of in life and they are Death and Paying Tax. If you owe money to the taxman you must pay it, otherwise you are guilty of tax evasion, even if you are dead.
Who should I nominate as the Executors of my Will?
Usually a spouse, close relative or a friend. Two people are usually sufficient to act as executors.
Who should I ask to witness my Will?
Anyone over the age of 18 who is not a beneficiary. They are not required to read the contents of your Will.
Do I need to be rich to make a Will?
No. You have a body, possibly a preference for burial or cremation, you may even have an ex-spouse. All of these should receive attention in your will.
Will I die younger if I make a Will?
No. There is no evidence which suggests that people who write a Will die sooner than they ought to.
Should my Will be hidden?
No. By all means keep your will in a safe place but do not hide it. It is also a good idea to let the executors of your will know where you have stored it.
How are my previous Wills cancelled?
Previous Wills become void whenever a new Will is signed and dated.
What happens if I don't write a Will?
Nothing. The High Count will say that you have died "Intestate" and they will still investigate your estate and issue a Grant of Probate. It just takes longer and so your beneficiaries will not receive their legacies as quickly as they would have had you written a Will.
Do I need special knowledge or qualifications to write my Will?
No. There are pre-made Will forms and software but they are only there to help. It is your will and your preferences. You can write it at any time and on any type of paper you like. Please don't make corrections. If you make a mistake then write another Will.
How should I view my Will?
Think of a WIll as a shopping list for the Inland Revenue.
You can write a new Will as often as you like but always remember to have the new Will witnessed and dated. In this way all previous Wills are void.
Why is it a good idea to write a Will?
The answer is because a Will is a legal document to which anyone can refer outlining what you as an individual want to happen to your body and your belongings.
Can anyone write a Will?
No. You must be aged over 18. Any younger than that and you will be regarded as a minor and probably the subject of your parent's will.
Do I need a solicitor to write my Will?
No. Anyone can write a will, even a solicitor, but it is not a legal document until two people who are not beneficiaries sign the will as witnesses.
Who should make a Will?
Everyone over the age of 18.
What should go into a Will?
Small items and small amounts of cash. For example you may wish to leave a particular item like a watch or a ring to a particular person like a brother or a niece.
Can a Will stop me paying tax?
No. There are only two things you can be certain of in life and they are Death and Paying Tax. If you owe money to the taxman you must pay it, otherwise you are guilty of tax evasion, even if you are dead.
Who should I nominate as the Executors of my Will?
Usually a spouse, close relative or a friend. Two people are usually sufficient to act as executors.
Who should I ask to witness my Will?
Anyone over the age of 18 who is not a beneficiary. They are not required to read the contents of your Will.
Do I need to be rich to make a Will?
No. You have a body, possibly a preference for burial or cremation, you may even have an ex-spouse. All of these should receive attention in your will.
Will I die younger if I make a Will?
No. There is no evidence which suggests that people who write a Will die sooner than they ought to.
Should my Will be hidden?
No. By all means keep your will in a safe place but do not hide it. It is also a good idea to let the executors of your will know where you have stored it.
How are my previous Wills cancelled?
Previous Wills become void whenever a new Will is signed and dated.
What happens if I don't write a Will?
Nothing. The High Count will say that you have died "Intestate" and they will still investigate your estate and issue a Grant of Probate. It just takes longer and so your beneficiaries will not receive their legacies as quickly as they would have had you written a Will.
Do I need special knowledge or qualifications to write my Will?
No. There are pre-made Will forms and software but they are only there to help. It is your will and your preferences. You can write it at any time and on any type of paper you like. Please don't make corrections. If you make a mistake then write another Will.
How should I view my Will?
Think of a WIll as a shopping list for the Inland Revenue.
You can write a new Will as often as you like but always remember to have the new Will witnessed and dated. In this way all previous Wills are void.
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