Online Wills - Learn More Pros and Cons
Online Wills what you need to know
Making a will is one of the most important things that you can do. Without leaving a last will and testament, families can suffer from added complications and expense as the estate goes through the courts’ time-consuming intestacy procedures.
Making a will is the one sure way of guaranteeing that your last wishes will be carried out and that those who you wish to benefit from your assets are certain to do so.
With the law surrounding tax and Probate ever changing, it is more important than ever to care for the future of your family. Making a Will alongside a firm of experienced Solicitors is vital when planning what will happen to your estate after death. It is the best way to ensure your house and other personal assets are left to those appointed by you and that your Will is complying to the law. An experienced firm of Solicitors can give you the most up to date advice the law and Probate.
Overview And Experience
Whilst it may be tempting to choose to make your Will online, there are a number of drawbacks. You could be leaving yourself open to legal administrative errors, easily avoidable by using Solicitors who will know what the law currently requires. Using trusted Solicitors is the only way to know you are getting the latest knowledge about the law and current legislation. It is also hard to tell whether or not an online Will complies to the law and if it really is a true reflection of your wishes. Speaking to Solicitors cannot be contested in the same way. The law is complex and a Will should only be made with the assistance of a Solicitor.
Solicitors have the experience and knowledge of the law to guide you through the ever changing legislation. Making a Will may seem like a time consuming process but it needn’t have to be. Although it requires planning, an experienced Family Solicitors and their team can make the road to Probate a smooth one. Their attorneys are experts in the law and legal stipulations. This can have a huge impact on what is left in the pockets of the people you care about most. Making a Will online without an attorney or Solicitors may mean you fall foul of inheritance tax thresholds. This can easily see a large portion of your house and estate being handed over after Probate by law. Check our Blogs!
A firm of Solicitors is there to protect your personal interests. Clients who choose to make their Will online are forfeiting the opportunity to utilise the knowledge and advice of an experienced attorney. Making a Will online may actually end up being a false economy, as many Solicitors are now finding that an online Will does not always meet the requirements necessary for Probate in court.
Taking a moment to obtain legal expertise from Solicitors who offer unparalleled experience in family law will save you time and money and prevent further problems down the road. A team of Solicitors whose goal it is to guide you through the complicated law and probate process is something just not available online.
Whether in person or over the phone, taking the time to speak to a trusted Solicitors firm is the only real way to know your Will is legally sound and compliant with the law.
Deciding what happens
Deciding what happens to your assets when you are gone is a process that requires a lot of thought, preparation and planning – after all you are making decisions that can have a major impact upon your loved ones when you die.
Although there is a trend in modern times for increasing numbers of people to make online wills, this is not a course of action to be recommended.
It is a fact that these days, more wills are being contested than ever before as the rise in property values means that it is now worth the expense of engaging a solicitor when there is a chance of benefiting from valuable assets.
Solicitors are more commonly using a range of arguments to prove that the person who signed the will either failed to understand the document, did not supply the relevant information or did not even sign the will itself.
These arguments are all too easy to put forward in the case of an online will.
An online will is entirely inappropriate in a number of circumstances.
Contact us today:
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To find out more about our will writing service all you have to do is give us a call. One of our friendly team members will chat with you about your personal circumstances and what you wish to include in your will. We will then schedule a visit, at a time of your choosing, for one of our Legal Consultants to come and visit you
They will gather all of the necessary information together in order to prepare and write your will. Once this stage has been completed you will then receive your completed will for approval. The whole process takes an average of 28 days. To find out more information please do give us a call today. We offer a fixed fee and guarantee the lowest local will writing prices.
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Writing wills is the only way to ensure that your money, possessions, property, as well as your investments, has gone to the people or the causes that you care of.
How to write a will
Find out the value of your property. You can draw a list of your lasting assets and your debts too.
The assets that usually make an estate are
- motor vehicles
- your company
- your home, furniture and other household pieces of stuff
- all your savings (bank/building society accounts)
- pension funds
- investments like stocks and shares
- other property that you own
- other personal belongings registered under your name
Then calculate the amount of debt you have. Debts may be a mortgage, a bank overdraft, a credit card balance, loans or equity release. These assets should be valued on a regular basis since their value keeps changing over time. To clarify this you can contact the people responsible to know how long lasting they are.
The will should be transparent regarding your assets. Ensure you have stated well who you would like to gain from your will. Decide where the remains of the assets will go (any money or property that is generally left after meeting the funeral along with administrative expenses, taxes, and legacies). State what to be done if one of your beneficiaries dies before you. If you desire to give any particular gifts to specific individuals like charity, ensure that you have included the correct information like the full names, addresses, and the charity’s registered number. Erroneous information might make your chosen charity to be denied the gift. This is a long lasting decision make sure it is satisfactory to you.
Executors deal with the distribution of your assets once you are dead. It involves a lot of work and accountability, thus think about the people you appoint cautiously.
It’s now the time to write your will
Make your own will:
Make your own will and ensure that it is valid. It should be correctly drafted and signed.
It is typically best because they offer legal advice. Look for one who specializes in wills. Ensure that they are registered with the relevant body.
Some of the banks have will-writing services as well as advice regarding asset planning.
Professional wills writers:
these are not qualified solicitors; hence, they might not be regulated. Do thorough checks if they are registered before you choose one? You do not want to mess up because of less research on solicitors.
Ensure your will is valid
Your will should be in writing, and only you should sign it and witness by at least two people who should as well sign it in your presence. You should have the mental capability of making the will and also understand the effect that it will have. Finally, you should make the will willingly and not from anyone else pressure. The beneficiaries, their family or civil partners are not supposed to act as witnesses; otherwise, they will lose their right of the inheritance. They are not even supposed to be present when the will is being signed. It is not advisable for an executor to be a witness.
Making a will in sickness
The will can be signed on your behalf if you are not capable provided that you are in that room and you have the mental capability to make the will. It should contain a clause stating that you understood everything prior to signing it. In case of a severe ailment, you might require a statement from a medical practitioner certifying that you have understood what you are about to sign then you can get an attorney. You can as well appoint somebody else to have a short-term power to sign your legal documents by giving them a general power of Attorney.
Keep updating your will
You are supposed to review your will after every five years or after a significant change like a moving house or new grandchild, and you should never make changes to the original will. For minor amendments, you can add just an addition, called a codicil that must be signed and witnessed just like the will, even though the witnesses don’t need to be the same. For significant changes like remarrying or divorce, the will requires to be changed. You must make a new one and cancel the previous one.