In 2019, studies carried out found that 5.4 million adults have admitted that they do not know where they would begin when it comes to writing a will. Along with this, it was also found that 54% of adults do not have a will. With these figures in mind, it is important to understand how wills and probate knowledge can benefit your life.
What is probate?
While most people understand what a will is and why it is necessary, the term probate is less readily understood. By definition, probate is the process of dealing with the estate of someone who has died, which generally means clearing their debts and distributing their assets in accordance with their will. If their will has been written clearly and concisely, then this will make it much easier for anyone who is left to deal with what’s left behind. Probate UK can be dealt with most easily with the help of an experienced professional.
Will writing services – Drafting a Will
You can have the option to write your will yourself but will writing services can be invaluable in making sure that you don’t miss anything that’s vitally important. In general, when writing your Will and choosing the will writing service that is best for you, you will have to think about:
- The value of your estate – this includes how much money you have in bank accounts and pension funds, and property and/or land you own and any investments that you have made.
- Who you would like to benefit from your will – this could mean leaving people a percentage of your money, certain possession such as jewellery, or property.
- If you were to pass away, who will looks after any children you have that are under the age of 18.
- Who you want to appoint as Executors of your Will – they will sort out your estate and carry out your wishes.
Will writing solicitors can make sure that your wishes are clearly expressed so you can rest easy knowing that your loved ones will be well looked after when you’re gone.
If you write your own will, then you might also not meet the criteria laid down in law under the Will Act 1837. Unfortunately, if it is not considered to be legal, then your wishes cannot be carried out.
In order for your Will to be legal and your wishes to be carried out once you ‘re gone, it is safest to employ a specialist Wills solicitors to write your Will for you. A Will is only legal if you:
- Are 18 or over,
- Write it voluntarily,
- Are considered to be of sound mind,
- Sign it in the presence of two witnesses who are over 18, and
- Have your two witnesses sign it in your presence
What about a Will Executor?
When you write a Will, you also have to appoint at least one Executor to handle your money, property and possessions – or your estate – after you pass away. Executors are still about to be beneficiaries of your Will, so you can still leave property, money or possessions for them to inherit after you’re gone.
Wills and probate can potentially be complicated without the right help but having expert solicitors help you to write your will can make it simple.