A Guide to Understanding Will Preparation

As a solicitor working in the private client team at Thomas Flavell & Sons, I regularly encounter concerns and misconceptions surrounding will preparation. Often the thought of making a will can be daunting and therefore people can be put off by the idea, but it doesn't have to be. In this article I shall aim to demystify the process of making a will and highlight the importance of having a will in place. 

A will is a legal document that sets out your wishes regarding the distribution of your assets after you pass away. Without a will, your estate will be subject to the laws of intestacy, which may not align with your wishes. This can lead to delays, additional costs, and family disputes during an already difficult time.

1. Gather the Relevant Information: Before making a will, you may wish to consider the assets that form part of your estate and how you would like your estate to be distributed. You may also wish to think about your family, friends, and any charitable donations that you wish to make. Having this information to hand in advance of your appointment with a solicitor will help to inform the meeting and streamline the drafting process. 
2. Choosing your Executors: An executor is the person who will be responsible for managing your estate and ensuring your wishes, as set out in your will, are carried out. Our advice is to choose someone who you trust, and perhaps discuss this responsibility with them beforehand.
3. Consult a Solicitor: While DIY wills are of course available, consulting a solicitor can help ensure that your will is legally valid and reflects your intentions accurately. We can also advise on tax implications, the use of trusts and other legal considerations.
4. Review and Update Regularly: Major life changes, such as marriage, divorce, or the birth of a child can hugely impact your will. It’s therefore important to review and update your will regularly to ensure that it remains relevant and still achieves the outcome that you intend.

“I don’t need to worry about making a will until I am older”: Regardless of age, having a will is essential for anyone with assets or dependents. A will ensures your wishes are adhered to, no matter the size of your estate and that your loved ones are accounted for.

“My estate will automatically pass to my partner”: Unfortunately, this is not the case, the rules of intestacy do not recognise a partner, regardless of the length of the relationship. Therefore, if you are unmarried and wish for your partner to inherit from your estate it is essential that you make a will.

“I am going through a divorce so my will is no longer a valid will”: Whilst a marriage automatically revokes a will, a pending divorce does not. Therefore, if you do not want your soon to be ex-spouse to inherit from your estate, you will need to make a new will to set out your revised wishes.

“I can draft my own will.”: Whilst informal wills may be valid in some cases, they can lead to complications and delays. A properly drafted will, created with legal guidance and advice and executed property, is always recommended.

Preparing a will is a vital step in getting your affairs in order and is arguably one of the most important documents that you will make in your life. Despite this, statistics show that more than half of adults in the UK do not have a will. Taking the time to prepare a will not only clarifies your wishes but also alleviates potential burdens on your family during an already very challenging time so we would strongly encourage everyone to consider making a will.  

If you have any questions or would like to discuss your will preparation, please don’t hesitate to reach out to the Private Client Team at Thomas Flavell & Sons.