Tuesday 2 November 2010

Where can i see a Sample Will?

You can see what a Will looks like by visiting sample Will. Generally a Will contains the following:

  • Your detials
  • Executors
  • Guardians (if applicable)
  • Gifts of Money
  • Specific Gifts
  • Estate
  • Funeral
Alternatively try either of these sites:

www.onlinewill.co.uk
www.howtowriteawill.org
www.willwritingservice.org.uk

Wednesday 15 September 2010

How Will Panoramas Recent Documentary Affect Will Writers

Following BBC Panoramas recent documentary regarding Will writing and the regulations surrounding it, we pose the question; How will it affect Will writers?

Well, the documentary was actually based around the area of Probate as opposed to Will writing. The firms mentioned in the BBC programme were drafting Wills for clients and 'making their money' on the Probate of those clients. Each firm would state (in the small print) that as a part of the cost for the Will, they would take up to 1.5% of the estate value. In some cases this could be huge sums of money.

Although this does not directly affect Will writers, i'm sure that this recent documentary will force the client to rethink there approach towards making a Will.

Monday 17 May 2010

Friday 6 November 2009

Can a bankrupt be an executor?

This is a question that is often asked so i thought i'd clear this one up for you.

There is currently nothing which says that an undischarged bankrupt cannot be appointed as an executor. However in reality appointing a bankrupt as an executor is probably not a good idea as a bankrupt cannot open a bank account and cannot freehold or leasehold property.

It is essential that you choose your executors carefully when making Wills online.

Thursday 5 November 2009

Do married couples need two separate Wills?

I have covered parts of this in my recent post 'A Single or Mirror Will, which is the best for me?'. In the instance whereby a married couple are looking into Wills online, a Mirror Will is usually created. A Mirror Will is a pair of similar Wills of which the provisions match one another. However if between you and your partner have different wishes then you would each need to make separate Single Wills.

If you make a Will but then divorce and get remarried this then cancels a previous Will unless the Will expressly states otherwise.

Making a Will on behalf of someone else

Can you make a Will on behalf of someone else? The answer is yes. You can make a Will on behalf of someone else (normally another family member) however for the Will to become fully legal, it must be signed by the person who's Will it is. It will then have to be witnessed accordingly.

A Single Will or Mirror Will, which is best for me?

Sorry all, i haven't created any new posts for the last couple of months however i'm now back on the case!

There seems to be some confusion between Single and Mirror (or Joint) Wills. So let me explain the difference between the two and in what circumstances a Single or Mirror Will should be chosen.

You should only choose to make a Single Will if you have no partner or if you wish to make a Will that has different provisions to those of your partner. So if you and your partner have different wishes (e.g. the husband wants to leave the car to the son and the wife wants to leave some jewelery to the daughter) you will each need to create a separate Single Will.

You should only choose to make a Mirror Will if you and your partner wish the terms of your Wills to be identical. For example upon one partners death all of their estate is passed to the surviving partner. This excludes any specific gifts detailed in the Will (e.g. a gift of money or specific item to a relative).

When making a Mirror Will two separate Wills are created, one for you and one for your partner.

I hope this helps to clear up any confusion. You can write your Wills online at onlinewill.co.uk.