A Guide to Writing a Will: Secure Your Legacy

Land and Property

Writing a will is one of the most important steps you can take to protect your loved ones and ensure your wishes are carried out after you’re gone. However, it’s something many of us put off for years—sometimes until it’s too late. Whether it’s due to procrastination, uncertainty about where to start, or simply not knowing the benefits, thousands of people in the UK die without a valid will every year.

As Jamie Johnson, CEO of FJP Investment, once said, “A will is not just a legal document, it’s a safety net for your family and your legacy.” This comprehensive guide aims to demystify the process of writing a will, helping you navigate the legal jargon and ensure your hard-earned assets are passed on exactly as you intend. In this article, we’ll explore the step-by-step process of writing a will, why it’s vital, and how to avoid common mistakes.

Why Writing a Will is Crucial

A will is essentially a legal document that outlines your final wishes regarding how your estate—property, finances, and possessions—will be distributed upon your death. Without a will, your assets will be distributed according to the intestacy laws, which may not align with your personal preferences. This can cause added stress for your loved ones during an already difficult time.

Having a will in place offers peace of mind. It allows you to:

Provide for your family: Ensuring your children, spouse, and other dependents are taken care of.
Avoid disputes: Families can sometimes be torn apart by inheritance disputes. A clear, legally binding will can help prevent this.
Minimise taxes: Careful estate planning, including writing a will, can help reduce the amount of inheritance tax your estate may be liable for.
Choose guardians: If you have young children, your will can specify who you wish to be their legal guardian.
Control your legacy: Whether you want to leave a special gift to a friend, donate to a charity, or pass on your cherished family home, a will ensures that your wishes are respected.

Step-by-Step Process for Writing a Will

Deciding on Beneficiaries

The first step in writing your will is to decide who your beneficiaries will be—these are the individuals or organisations who will inherit your assets. For most people, beneficiaries include family members such as spouses, children, or grandchildren. However, you might also want to leave something to close friends or charities.

Take some time to think about what each beneficiary will receive. You may wish to leave specific assets, such as jewellery or heirlooms, to certain individuals. You’ll also need to decide how your estate will be divided if one of your beneficiaries predeceases you.

Choosing Executors

Executors are the people responsible for carrying out the instructions in your will. This role can involve everything from paying off debts and managing estate finances to distributing assets to the beneficiaries. It’s a big responsibility, so it’s important to choose someone trustworthy. You can have more than one executor, which can be helpful if your estate is particularly large or complex.

Many people choose close family members or friends as their executors, but it’s also possible to appoint a professional, such as a solicitor or financial advisor, to fulfil this role.

Specific Assets and Gifts

In addition to dividing up your estate, your will can also include specific gifts. These might include sentimental items like a family heirloom, or monetary gifts left to specific individuals or charities. If you own property or other high-value assets, you’ll want to make sure they’re handled correctly in your will.

Legal Requirements for a Valid Will

Making sure your will is legally valid is crucial—if it doesn’t meet certain requirements, it could be challenged or even disregarded. Here are the key elements to consider.

Witnessing and Signing

In the UK, for a will to be legally binding, it must be signed by the person making the will (the “testator”) in the presence of two witnesses. These witnesses must also sign the will to confirm they saw the testator sign it. The witnesses must be independent meaning they should not be beneficiaries in the will, as this would invalidate their inheritance.

Common Mistakes to Avoid

Failing to properly witness the will: As mentioned, the will must be signed in front of two witnesses who are not beneficiaries.
Not updating your will: If your circumstances change (e.g., you get married or divorced, have children, or acquire new property), your will may need to be updated to reflect these changes.
Not keeping it secure: Your will should be stored somewhere safe and accessible. Some people choose to keep it with their solicitor or in a safe deposit box.

DIY Wills vs. Using a Solicitor

Benefits of Professional Help

While it is possible to write your own will, using a solicitor can ensure that your will is legally sound and meets all the necessary requirements. A solicitor can also offer advice on complicated legal and financial matters, such as inheritance tax planning, trusts, and setting up guardianship for children. This can be particularly helpful if your estate is large or complex.

Cutting corners with a DIY will might save you money upfront, but the risks far outweigh the initial savings. Professional guidance ensures everything is airtight.

Risks of a DIY Will

Although DIY wills can be cheaper, there are several risks involved. If your will is not clear, correctly witnessed, or legally binding, it could be contested or invalidated. Even simple mistakes like forgetting to sign in front of witnesses can render a will invalid.

According to Citizens Advice, it is generally advisable to have a solicitor either draft or check a will you have drawn up to ensure it has the desired effect and is not open to legal challenges. This is particularly important if you have complex family arrangements, such as children from different relationships or a business to pass on.

What Happens If You Don’t Write a Will?

If you die without a will, you are said to have died “intestate”. In this case, your estate will be distributed according to the rules of intestacy, which may not reflect your wishes.

Intestacy Rules Explained

The rules of intestacy are strict and follow a set order of inheritance. If you are married or in a civil partnership and have children, your spouse or civil partner will inherit up to £270,000 of your estate and half of the remainder. The rest will be divided equally among your children. If you have no spouse or children, your estate will go to other relatives according to a specific hierarchy.

Without a will, unmarried partners, stepchildren, friends, or charities will receive nothing. This can cause significant problems for your loved ones, particularly if you have children from a previous relationship or a partner who is not legally recognised.

How to Update or Change Your Will

It’s important to review and update your will regularly, especially if your circumstances change. Marriage, divorce, the birth of a child, or acquiring new property can all affect your will.

To make small changes to your will, you can add a codicil, which is an amendment that must also be signed and witnessed. For more significant changes, it’s usually best to write a new will altogether. Remember to destroy any outdated versions to avoid confusion.

Conclusion

Writing a will is one of the most important steps you can take to secure your legacy and protect your loved ones after you’re gone. While it can seem like a daunting task, taking the time to write a clear, legally valid will ensures that your assets are distributed according to your wishes and helps avoid unnecessary stress for your family.

Whether you choose to draft your will yourself or enlist the help of a solicitor, the key is to make sure it’s legally sound, regularly updated, and securely stored. Don’t leave things to chance—writing a will offers peace of mind and the knowledge that your loved ones will be cared for in the way you intended.