Writing a Will: A Checklist

A Will writing checklist is a great thing to have for the Do It Yourself type.

Though you can make updates to your will, and if circumstances change a lot, you can make a new will entirely, it is best to know what to include from the start. This will simplify the process and ensure that your will is carried out as efficiently and as effectively as possible.

Your official Will writing checklist

Find Any Previous Wills

If you have any previous wills, you will want to locate them. You can then create a new will, but be sure to account for any previous editions, too.

Up-To-Date Personal Details

When creating your will (or updating it), you will want to ensure that all of your personal details are correct, up to date, and free of spelling errors.

Choose Your Beneficiaries

The next step is to choose your beneficiaries. Go through the list carefully to ensure that you don’t forget to include some people. You can name people to split up your estate to, and who to give special gifts to.

Make Special Decisions for Children

If you have children under the age of 18 or similar responsibilities, you will then want to outline who you want to take care of them.

Please know that this shouldn’t be a surprise. so gain confirmation from your friends or family. Then include that agreement in the will so that there is no reason to contest the issue.

Make a Note of Your Debts

When creating your will, it is important to work out your debts. If you have debts, these will be taken from your estate first. You can even write out a clause that states you wish the executor to sell your home. Accordingly, to pay off debts and to distribute other assets to your beneficiaries.

Tip: Work with The Inheritance Experts to work out how to minimise the impact of the Inheritance Tax.

Make Funeral Arrangements

With any will writing checklist, you also need to consider the inevitable.

To this end, you should work out funeral arrangements in advance. This way, you can ensure they carry out the wishes of your will. Moreover, you show you intend to pay for it (rather than forcing the family to bear the brunt).

Choose How You Wish to Divide Your Estate

Great: now you know how you intend to deal with debts and funeral costs. Furthermore, you will want to outline how you wish to divide your estate.

Make Provisions

It is also important to make provisions. If all your beneficiaries die before you, for example, you can name a charity to donate your estate to.

You can also add additions that explicitly exclude people who would otherwise have a reason to contest your will.

Make a Lasting Power of Attorney

To ensure your will is carried out, you’ll want to give your will a Lasting Power of Attorney (LPA for short).

Store Your Will Safely

Last but not least you will want to store your will, any previous editions of your will and all codicils of the will safely. This way, there is no doubt as to which will is the one your executors are to carry out.

Though you can create a Will and Testament on your own, it is always best to create it with The Inheritance Experts. Thus, you ensure that your will is carries out correctly.

What are the Duties of an Executor of a Will?

When a member of the family dies, it can leave you lost. If they left behind a Last Will and Testament, however, it provides a guideline on what to do to settle their estate. If you give an executor duties over the estate (which you can be even if you are a beneficiary named in the will), they can carry out the will and to settle all debts.

With the help of a solicitor and any of the other executors, you can get through this process easily. In doing so, you can provide the testator one last service by seeing out their final wishes.

What is an Executor?

First, an executor may or may not be a beneficiary of the will in question. But in essence, their job is to carry out the Last Will and Testament of the testator. There can be up to four executors chosen so that you can share in the responsibility. In general, one executor is usually chosen to carry out these duties.

A long list of executor duties

In short, the actual responsibilities include the following executor duties we list below.

Probate

In essence, the executor will apply for probate. This will give you the legal right to manage the testator’s estate in their stead and carry out their will as outlined in their Last Will and Testament. It is usually only necessary to apply for probate* if the estate is worth more than £5,000.

Acquire the Will

You will need to acquire all versions of the will including any codicils made to the Will. Though the only Will necessary to execute is the final version, it is crucial to have all versions on hand. Once you have this Will, you’ll want to create copies for both the government and the beneficiaries.

Arrange the Funeral

If the Will outlines funeral arrangements, it’s important to follow those through. If the testator works out a method of payment (either from their own account or through an insurance plan), you can then obtain the fees to pay for the funeral so that the family doesn’t face unnecessary costs.

Secure the Deceased’s Assets

Learn what assets the testator has. This means collecting all belongings, properties, businesses, shares, and savings.

Evaluate Estate

For any item/property with a monetary value greater in value than £500, it’s essential to get a professional evaluation. If there’s

  • no one living at the property of the testator, and;
  • the property was in their name;

you have two critical bodies to notify.

  • The insurance company and;
  • The government.

That way, the deed goes into the name of the estate until selling on passing it on, per requirements.

Notify Creditors and Government of Death

This is as part of the government notifications you need to make. You’ll want to notify creditors, subscription agencies, and the government of the testator’s passing.

Close Their Accounts

In short, the executor can close all the testator’s accounts, including pension and subscriptions.

Pay Off Debts

Executors pay off the testator’s remaining debts and any taxes on the estate. Only settling these amounts can the remaining amount go to the beneficiaries.

If their estate is not enough to carry out the debt, then the beneficiaries receive nothing.

Distribute Remaining Estate to Beneficiaries

sSupposing that there is money or property left, distribute it accordingly amongst the beneficiaries.

Can You Claim Expenses For Executor Duties?

In short, yes: you can claim expenses as part of your executor duties.

Can You Have a Solicitor Help You With Executor Duties?

Yes, and in fact, you should find a specialist in this field if you lack the experience. It’s best to hire The Inheritance Experts to help you through this process.

Footnotes
All UK Written Wills
No Win No Fee*

*This means you need to file the PA1 and inheritance IHT form and pay a £200-£215 fee)

Write Your Own Will and Testament: A Guide

Think you’re ready to write your own will? In short, everyone should have an official Last Will and Testament. It’s the only way to ensure estate receive proper management, rather than the court deciding on who gets what owing to a few outdated parameters. Your children, for example, wouldn’t get anything from your estate if you have a surviving spouse or civil partner.

Having a will means that your wishes on how your estate is shared are honoured. Difficult estates and wills, by contrast, require the advice of The Inheritance Experts. But if your estate (the total value of all your assets) is small and your will is straightforward in nature, you can write your own will.

To do that effectively, you’ll want to follow this guide.

Write Your Own Will: Evaluate Your Estate

The first step to write your own will is to evaluate your estate. This means determining the total value of all you have, both in terms of liquidated assets and in terms of personal belongings. You can bequeath your beneficiaries items like furniture or jewellery, or you can give your beneficiaries a monetary amount.

When evaluating your estate, it is crucial to estimate your debt. All debts and taxes must be paid before the beneficiaries can get access to your account.

Set Out Who You Want in Your Will

The next step is to set out who you want in your will. Include details like who should take care of your children if they are under the age of 18, and who you intend to name an executor. Executors are the ones who carry out your will. You can name up to four.

You should also make exceptions. For example, if all of the beneficiaries you name die before you, you can donate your estate to a charity of your choice.

Explain Who Gets What

In essence, you set out who gets what. Ideally, take into account your debts and inheritance tax before you do this.

What if You Want to Update Your Will?

Codicils are official updates to a will. If the changes you want to make are complicated, however, it is best to create a new will. Generally speaking, you should update or at least check over your will every five or so years. If a significant change in your life has happened (like a grandchild), then update as soon as possible.

When You Write Your Own Will, Ensure It’s Valid

You will also want to make sure your will is legal and valid. Generally speaking, ensure you’re of a sound mind; over the age of 18, and do it in the presence of two witnesses who are not beneficiaries of your will.

When You Should Get Expert Advice

If your estate has multiple complications to sort out, it’s wise to contact The Inheritance Experts. Not only will this make your Last Will and Testament more explicit, but it also helps deal with complicated estates (perhaps you own a summer property in another country).

Store Your Will

You will want to pay either The Inheritance Experts or another official entity to safely and professionally store your will.

Seeing someone contest a will

In most circumstances, the Last Will and Testament is the paramount document. But to witness someone contest a will, you’ll encounter someone lobbying a serious challenge to the management of assets in an estate. A will, in summary, is the document that determines how to divide an estate and ensures they carry out testator’s wishes.

However, there are still instances where someone contests a will. Though these contentious probate situations are rare, they do occur. As FT Adviser states:

There is no doubt that society has become more aware of the ability to challenge a will. (According) to court statistics, (they’re) more willing to see a challenge through to what is, inevitably, a bitter ending at trial.

Watching Someone Contest a Will: How Do They Do It?

Somone can contest a legal document like a will for only a few reasons. One of the most prominent reasons to contest a will is because there is evidence of fraud. Perhaps they had dementia during their last codicil*, or perhaps there was a falsification of the signature.

Other reasons why a will can be contested is if a named beneficiary doesn’t receive anything in the will, or if the contester financially relied on the deceased but not explicitly named (for example, a previous spouse who relied on childcare support).

Claims under The Inheritance Provision for Family and Dependants Act 1975 is the key bit of legislation enabling claims. If you choose to undertake it, no win no fee solicitors are the way to go if you want to avoid unnecessary legal costs. Simply come to a fee agreement with your lawyer at the start in the case of a win, and you won’t even pay if you’re the losing party.

Who Can Contest a Will?

It’s important when reading this to remember that not everyone can contest a will, however. The only ones who can are:

  • Blood relatives;
  • Spouses;
  • Creditors;
  • Someone who is a beneficiary beforehand but left out later on;
  • A person who relies financially on the testator, or;
  • Someone who receives a promise of a gift either verbally or otherwise that was forgotten in the will.

What Happens When Someone Contests a Will?

It’s crucial to bear in mind that there are time limits to contesting a will.

  • If your name is not in the will, you have within 6 months of the grant of probate to contest.
  • Additionally, you have up to 12 years to contest it if your name is in the will.
  • Moreover, if the reason to contest a will is due to fraud, there are no time limits.

Build the Case

When contesting a will, there are a few steps to take. The first is to build evidence. This means proving either:

  • Fraud;
  • Promises made by the testator;
  • Undue influence over the testator;
  • Diminished mental capacity during signing;
  • Debts that the testator owes, or;
  • Proof of financial reliance.

File Your Case with the Probate Registry

Once you have the case, you will need to file it with the probate registry. Such a case filing is through a document known as a caveat. Ideally, you’ll issue this before probate, as it stops the issuance of probate.

Negotiate

Working with The Inheritance Experts gives you access to expert negotiators working on your behalf when contesting the will.

Most solicitors try to resolve the issue out of court so that all parties can leave with an agreeable settlement. This process can take a long time, even up to a year or more.

Settle

In some instances, parties settle the case out of court. Though the person who contests the will likely won’t receive the full sum, this is the best way to settle the matter. Particularly in a way wherein most parties agree and everyone goes home a winner.

FINAL RESORT: Go to Court

If negotiations fail when someone contests a will, the issue can go to court. This is the worst-case scenario and only occurs with the most extreme cases.

Contesting a will is a long process, especially with financial provisions and potential court proceedings. But it’s important to get a solicitor on board you feel like:

  • you face an unfair exclusion from the will;
  • are a creditor, or;
  • you believe there was an occurrence of fraud.

Hire professionals to build your case and fight for you so that you have the greatest chance of success. For casing like those unduly influenced or any other grounds to contest and legally challenge the validity of the will, top legal advice is essential.

Footnotes
All UK Written Wills
No Win No Fee*

*A codicil is an official name for updates to the will.

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