Writing a will

If you’re a parent of children under 18, a will gives you the opportunity to indicate who you want to be their legal guardian if anything happens to you.

In your will, you can say exactly how you want your estate to be shared out, so there are no disputes about who gets what after you’re gone.

Do I need a will?

Even if you have life insurance, making a will is the sensible way to guarantee that your assets go to exactly who you want after you’ve gone.

Dying without a will means that the law decides who gets what. And that might mean your loved ones lose out.

How do I make a will?

Step 1. Decide how you want to write your will

Write your own will

You can choose to write a will yourself – for example by using an online template. This method might suit you if you have simple, straightforward needs such as wanting to leave everything to your spouse.

Bear in mind, though, that even the smallest of mistakes could make your will invalid, so it would be wise to get your will reviewed by a legal expert. 

It’s imperative, too, that you get your will witnessed in the right way or it won’t be legally binding. 

Employ a solicitor

If you don’t feel confident to go down the DIY route, or if your situation is more complex, you should use the services of a solicitor to draft your will. 

It’s definitely a wise option if your family situation isn’t straightforward. For example, if you live with a partner but are unmarried, have former partners, children with a former partner, or step-children you want to pass on assets to, or if you have a disabled family member you want to make provisions for.

It’s also a good idea to use a solicitor if your estate is likely to leave your heirs with an Inheritance Tax bill. 

The current tax-free inheritance tax allowance stands at £325,000. After that, inheritance tax is payable at 40%. 

A solicitor’s advice can help keep the Inheritance Tax due on your estate to a minimum.

Using a solicitor is also advisable if your estate includes a company you own, you have property or investments abroad or if you own a property with someone who is not your wife, husband or civil partner.

Employing the services of a solicitor can also provide peace of mind that your will is legally binding. 

Use a will-writing service

These services offer support to write your will and are generally cheaper than using a solicitor. You can use their service online, on the phone, or face to face in your home. 

Check that they’re regulated by The Solicitors Regulation Authority or, failing that, that they belong to an official organisation such as the Institute of Professional Willwriters or the Society of Will Writers.  

Be sure, too, that the will-writing service doesn’t appoint itself as executor by default. They will probably charge high fees for this service. 

Will-writing services are used by many charities. They offer you the chance to write a will for free in the hope that you may leave a donation to the charity in your will. 

Step 2. Choose your executor/s

An executor is a person of your choosing who will carry out your instructions and wishes and administer your estate as detailed in your will. 

Most people elect one or two people to undertake the role/s of executor, though you can choose up to a total of four.

Typically, their duties will include applying for probate, if applicable, locating all financial documentation, sending death certificates to banks and freezing accounts. 

Other tasks can include opening a bank account for the estate, paying off any bills and debts including inheritance tax, collecting all money owed to the deceased, selling property and sharing out money to the will’s beneficiaries. 

An executor can be a relative, such as your spouse or grown-up child, a friend or a solicitor (who will charge a fee for this service). But in general they need to be someone you trust who is capable and happy to accept the responsibility of the role. And of course, you need to let them know where they can access your will after you die.

Your executor can also be a beneficiary of your estate.

Step 3. Decide what to include in your will

Assets and beneficiaries

Write down all the assets which make up your estate. This will likely include your house, car, your savings, stocks and shares, insurance policies and pensions as well as personal possessions, valuables and family heirlooms.  

It’s a good idea to make a simple inventory of where your bank accounts, pensions and shares are held, so everything is easy for your executor to find and to access when the time comes.

Next, you’ll need to detail how you’d like to share your assets amongst your family, friends, or charities - the beneficiaries.

Remember that some legacies - unless given to your spouse or a charity - will be liable for Inheritance Tax. Rules are complicated and this is where a solicitor’s knowledge can be useful to help minimise the amount of Inheritance Tax payable on your estate.

Funeral requests

You can include funeral wishes in your will, such as whether you’d like to be buried or cremated and even what music you’d like played at your service. 

Name legal guardians for your children

If you have children under 18, you can use your will to name who you’d like to become their legal guardian should you and your children’s other parent pass away. 

Of course, you will need to discuss this with whoever you nominate to be sure that they’re willing to take on the responsibility should the worse happen. 

Step 4. Make sure it’s valid

However you decide to write your will, it’s only valid if two independent witnesses see you signing it (this applies to wills in England and Wales; in Scotland, you need one witness).

Witnesses are needed to confirm that the person signing is the same person who wrote the will, that the person has the mental capacity to know what they are signing and that they have not been pressured into signing it.

These witnesses must also sign the will in your presence for it to be valid. They don’t need to read what’s written in the will.

Your witnesses should have no stake in the will (in other words, they shouldn’t be beneficiaries, or be the spouse or civil partner of a beneficiary) or they will lose their right to their share of the estate.