Making A Will In 2022: Everything You Need To Know

Making A Will In 2022: Everything You Need To Know

Making A Will In 2022: Everything You Need To Know

Many UK citizens still do not have a will, although this is the only way to ensure that your property, savings, investments, and belongings go to the right people if you die. A will can also make sure that your partner gets the house if you are not in a civil partnership or married. Without having a legal will, you could find that your wishes are not met after death, including any wishes around burial or cremation.

Writing a will is much easier if you get a professional to help but there is always the option of writing your own will. With the laws changing in the UK since COVID-19, you can even get webcam wills. These days, you do not even need to leave your couch to get a professional will, so what are you waiting for? Here is everything you need to know about making a will in 2022.

  • Writing Your Will

When it comes to writing your will, there are a number of choices depending on your financial situation and whether you feel like you could take on the task alone. DIY wills are wills that can be written by yourself, but they may not be legally valid if you make a mistake or do not write your will correctly. When you have few assets and are leaving everything to a child or partner, it can be easier to write a DIY will. For those who own a business or have assets abroad, writing your own will can be much more complicated, leaving more room for error.

Using a professional will writing service is the most common way to write your will. The cost will depend on the complexity of your will, including how many assets you have. Writing your will with a solicitor can be done online, making it easier for those who cannot easily get to appointments or do not want to leave their home to write a will. Just like what Swadlincote will writing service offer. 

Elm Legal Services offer the choice of web cam wills, which allow you to get your will written online through the use of video calls. This service is much like the service you would get in person, with expert advice and help with writing your will correctly. This can be a more cost-effective solution to writing your will, especially if you do not live close to a solicitor branch.

Making A Will In 2022: Everything You Need To Know
  • Valuing Your Estate

Your estate does not just refer to your home. In terms of will writing, your estate is anything that you own that you want to pass on when you die, such as savings, life insurance payments, furniture, vehicles, properties, and pension funds. Before writing a will, you need to write down everything you own and how much these add up to.

This can be confusing, but a professional will writing service can help you make sense of your assets if you need assistance. When valuing your estate, you also need to consider any debts you have. This could include bank overdrafts, mortgages, loans, and credit cards. You should regularly value your estate, as this is likely to change over the years.

  • Choosing How You Want Your Estates Divided

Once you understand what you own, you need to decide how you want your estates to be divided. If you have children and grandchildren, you may want part of your estate to go to everyone. This needs to be clear within your will, with each name written clearly in your will. You cannot just refer to your children or grandchildren as “your children”. Every person must be named separately, or your will may not be legal or valid when it comes to your passing.

  • Leaving A Charity Donation

Some people want to leave part of their assets to charity, which should be clearly stated within your will. The charity’s full details must be outlined, meaning not just the company name. You must write down the address and registered charity number for this to be valid. You should also be aware of the help available from charities when it comes to writing your own will.

Some charities offer the choice of paying for your will if you leave a gift to them. This could be beneficial for both parties and cut the cost of writing your will too. You can usually find out if your chosen charity takes part in this by checking their website.

Making A Will In 2022: Everything You Need To Know
  • Choosing An Executor

If you have already looked into writing your will, you may have heard of the term executor. This is the person, or people, who will deal with handing out your assets and following the wishes in your will following your death. Becoming an executor is a big responsibility, so you want to make sure this is someone you know well and trust.

The executor also needs to be of sound mind. You can always change your executor in the future if you need to. You can also have more than one executor and up to four, depending on your situation. Your executor does not need to be a family member or friend either, you can choose to appoint a solicitor or an accountant. This is a great idea if you do not have anyone in your family to appoint as an executor or the person you would want is not of sound mind.

  • Getting Your Will Signed

For your will to be valid, you must sign it correctly. Your solicitor can help you with this if you are getting your will written professionally. Without these signatures, your will would not hold up in a court of law and will not be legal when you die. Whenever you make a change to your will, this process must be done again, with new signatures and dates. If you do not do this, the previous version of your will would be used when you pass away.

When it comes to signatures, it is important to know that anyone named in the will cannot witness or sign it. Neither can the civil partner or spouse of anyone named in the will. Usually, people ask a work colleague or a friend to do this for them.

Making A Will In 2022: Everything You Need To Know
  • Storing Your Will

Your executor must know where your will is stored so they can find it when you die. If you choose to get your will professionally written, your solicitor can store your will safely until you pass away. You can also get your will stored by a bank or you can store it at home. Make sure this is in a safe place where it cannot be lost, stolen, or damaged.

You should not attach anything to your will using staples or paperclips. If these documents are lost and there are marks on your will, it can lead to an investigation as to whether your will is missing amendments or other parts. If there is anything else you want to be stored with your will, keep it separate.

This guide can give you all the information you need to create your own will in 2022. For further advice and support with will writing, you should speak to a professional solicitor who is experienced in wills. If you already have a will, you can make amendments to this at any time.

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