Creating a will might seem like something you can put off until later in life, but the statistics tell a different story. According to recent research, only 56% of people in the UK have a will, meaning nearly half of the population will have their assets distributed according to the law if they were to pass away unexpectedly. This can leave families in difficult situations and assets going to people you never intended.

Many people are put off writing their will through a lack of understanding about the process, thinking it’s too complicated or expensive. The reality is quite different. In this article, our experienced team at DLS Law will walk you through how to make a will and what you should include within it, making the process as straightforward as possible.

How To Make A Will & What To Put In It

The UK is staring down the barrel of an inheritance crisis. Nearly 40 million Brits are revealed to be without a will, creating uncertainty for families across the country. Without a will, the government decides who gets your assets, and this might not align with your wishes at all.

This article will explain why you need a will, what to include in it, and provide other useful information to help you protect your loved ones. Whether you’re considering writing your first will or updating an existing one, we’ll cover everything you need to know:

Senior signing will with solicitor

Do I Need A Will?

Many people think a will isn’t necessary, assuming their loved ones will automatically inherit what they leave behind. Unfortunately, this isn’t always the case. Without a will, your assets are distributed according to intestacy rules, which might not reflect your wishes at all.

A will is essential for the following reasons:

  • Gives you complete control over your assets: You decide exactly who receives what, whether it’s your house, savings, or sentimental items. Without a will, the law makes these decisions for you.
  • Protects your loved ones: A will ensures your family members are provided for according to your wishes. It can prevent financial hardship and confusion during an already difficult time.
  • Appoints guardians: If you have children under 18, a will allows you to choose who will care for them. Without this, the courts will decide, and they might not choose the person you would have preferred.
  • Avoids disputes: Clear instructions in your will can prevent family arguments and legal battles over your estate. This protects relationships and saves money on legal fees.
  • Minimises inheritance tax: Proper estate planning through your will can help reduce the inheritance tax burden on your beneficiaries, ensuring more of your wealth goes to the people you care about.

Will meeting

How To Make A Will In The UK

The good news is that making a will doesn’t have to be complicated. A will can be written in any format and on any sheet of paper, though there are important legal requirements to follow to ensure it’s valid.

Here’s the basic process:

  • Start by recording your assets: Make a comprehensive list of everything you own, including property, savings accounts, investments, personal belongings, and any debts you owe. Don’t forget about digital assets like online accounts or cryptocurrency.
  • Choose your executors: These are the people who will carry out your wishes after you die. Choose someone you trust completely, and consider appointing two executors in case one is unable to act. Your executors will handle everything from paying debts to distributing assets.
  • Select your beneficiaries: Decide who will receive your assets. This could include family members, friends, or charities. Be specific about what each person should receive to avoid confusion.
  • Write it up: You can write your will yourself, but it must be clear and unambiguous. The language needs to be precise to avoid disputes later.
  • Sign and witness: This is crucial for your will to be legally valid. You must sign your will in the presence of two witnesses who are both over 18. These witnesses cannot be beneficiaries of your will or married to beneficiaries. They must watch you sign and then sign the document themselves.

While you can write a will yourself, many people choose to work with experienced legal professionals to ensure everything is done correctly and legally binding. Our solicitors in Milton Keynes and London can guide you through the process, so feel free to contact us today to book an appointment.

Signing a will

What To Put In A Will

Figuring out what to include in your will can feel a bit overwhelming, particularly if you have lots of valuable assets. Breaking it down into categories can help avoid complications later. Here’s what you should include:

  • Your money and assets: List all bank accounts, savings, investments, property, and valuable possessions. Be as specific as possible about account numbers and locations.
  • Specific gifts: These might include jewellery, watches, family heirlooms, or other sentimental items. Clearly state who should receive each item to prevent disputes.
  • Funeral wishes: While not legally binding, including your preferences for burial or cremation can help guide your family during a difficult time.
  • Your beneficiaries: Clearly name everyone who should inherit from your estate. Include their full names and relationship to you to avoid confusion.
  • Name your executor: Choose someone reliable who will handle your affairs. Consider their age, health, and willingness to take on this responsibility.
  • Pets: If you have pets, specify who should care for them and consider leaving money for their ongoing care.
  • Digital assets: Don’t forget about online accounts, social media profiles, digital photos, and any cryptocurrency you might own. Include instructions for accessing these.

Executor

How Much Does It Cost To Make A Will?

The cost of writing your will depends on your circumstances and the complexity of your estate. According to Compare My Move, the cost of making a will with a solicitor can range from £125 to £260 for basic single wills, with mirror wills (matching wills for couples) costing £200 to £400 on average.

While these costs might seem significant, they’re small compared to the potential problems and expenses your family could face without a proper will. At DLS Law, we pride ourselves on highly competitive rates and guarantee value for money in our will writing service. Our experienced team ensures your will is legally sound and reflects your wishes exactly.
Meeting with solicitor

What Is A Trustee In A Will?

A trustee is an individual or organisation who has been appointed to manage assets held in a trust for beneficiaries. A trust is a legal arrangement where assets are held by trustees for the benefit of others, often used when beneficiaries are too young to inherit directly or when you want to control how assets are distributed over time.

Trustees have significant responsibilities and powers. They hold items to preserve their value until the time comes to release them to beneficiaries. This might involve managing investments, paying bills, or making decisions about when and how assets should be distributed. Trustees must always act in the best interests of the beneficiaries and follow the instructions set out in the trust document.

Choosing the right trustee is crucial, as they’ll have considerable control over your assets. Many people choose family members, but you might also consider professional trustees such as solicitors or trust companies, especially for complex estates.
Trustee

Where Should I Store My Will?

Once you’ve written your will, you need to store it safely where your executors can find it when needed. It’s entirely down to you where you store your will, as long as your executor knows its location and can access it when required.

Here are some dos and don’ts for storing your will:

Do:

  • Leave it with your solicitor: Solicitors are regulated professionals, and you have legal protection if your will is damaged or lost while in their care. Most solicitors offer secure storage as part of their will writing service.
  • Store it with a will writing service: This can cost less than solicitor storage but may offer less protection. Make sure any service you choose is reputable and regulated.
  • Lodge it with the Probate Service: The Probate Service offers secure storage for a flat fee of £20. This is a government service that guarantees your will will be safe and accessible when needed.

Don’t:

  • Keep it in a bank safety deposit box: Banks can’t open deposit boxes until the executor gets probate, but you can’t get probate without the original will- annoying, we know!
  • Store only in digital form: While digital copies are useful, courts often require signed original documents. A purely digital will might not be accepted.
  • Keep it in a locked safe without sharing the combination: If no one knows how to access it, your executors might not be able to retrieve the will when needed, defeating the entire purpose.

Storing will

When Should I Update My Will?

The government recommends updating your will every five years or after any major life event. Regular reviews ensure your will continues to reflect your current circumstances and wishes.

You should consider updating your will after these life events:

  • Marriage: Getting married automatically revokes any previous will unless it was made in contemplation of that specific marriage.
  • Divorce: While divorce doesn’t automatically cancel your will, it does affect provisions for your ex-spouse.
  • Birth of a child or grandchild: New family members should be considered in your estate planning.
  • Major purchase: Buying property or other significant assets should be reflected in your will.
  • Death of a beneficiary or executor: You’ll need to choose new people to fill these roles.
  • Change in financial circumstances: Whether your wealth increases or decreases significantly, your will should reflect your current situation.

Updating will

Write Your Will With DLS Law

Don’t become part of the statistics – protect your loved ones by creating a comprehensive will that reflects your wishes. At DLS Law, our experienced solicitors in Milton Keynes and London have been helping families with their estate planning for over 50 years. We understand that every situation is unique, and we’ll work with you to create a will that provides peace of mind for you and security for your family.

Whether you need a simple will or complex estate planning involving trusts and tax considerations, our team is here to help. We offer competitive rates and guarantee that your will will be legally sound and properly executed. Contact us today to discuss your will writing needs and take the first step toward protecting your family’s future.