Writing a will gives you peace of mind knowing that your estate will be handled according to your wishes. It helps avoid potential disputes, ensures your loved ones are taken care of, and clearly outlines who should inherit your property, money, and personal belongings. Without a will, your estate will be distributed based on the law, which might not align with your intentions.
A single will is a legal document where one person outlines their wishes for what happens to their estate after they die. It covers who inherits their assets and who manages the process.
A mirror will is made by a couple, with almost identical terms. Typically, each person leaves everything to the other, and after both die, their estate goes to chosen beneficiaries.
Choosing between a single will and a mirror will depends on your circumstances. If you’re making decisions on your own, a single will is likely the best option. For couples with shared plans for their estate, a mirror will offers a straightforward solution. Either way, making a will ensures your wishes are followed and provides protection for those you care about.
We’ve put together the answers to some frequently asked questions about Wills. If your question isn’t answered here or you’d like to speak to an expert for more information, our team will be happy to help.
If you die without leaving a Will, it’s called dying intestate. It means you won’t have appointed Executors to act on your behalf and – even more importantly – you’ll have no say in what happens to your assets or who inherits. Instead, the strict rules of intestacy come into play and a lot will depend on the value of your assets.
If you don’t have a Will, any assets passing to your children will be given to them when they turn 18. If you want them to inherit when they’re a bit older – say 21 or 25 – then you’ll definitely need to make a Will.
If you live with your partner but aren’t married, it’s important to note that there’s no provision under the rules of intestacy for partners, cohabitees or step-children. Lots of people are surprised by this. If you’re in a long-term relationship and you want to provide for your partner and their children then you must make a Will.
We’ll be happy to talk to you about your unique circumstances, but a general rule of thumb says that Wills should consider:
Executors manage your Will through probate. They make sure that the terms and wishes of your Will are honoured and they distribute assets to the people you’ve chosen – known as beneficiaries. Executors are also responsible for organising the funeral.
Executors must be at least 18 years old. We recommend thinking hard about choosing people who have the time and skills to cope with the important responsibility. Executors can be beneficiaries of your Will and many people choose their spouse or adult children to manage their Will through probate. You can also choose other family members, friends or professionals. It’s a good idea to talk to your proposed Executors to make sure they’re happy to do the job.
If you have children under 18, you may need to appoint guardians to take parental responsibility for them if you pass away. You should consult with your choice of guardian to make sure that they’re happy to take on this responsibility.
No matter your situation, writing a will is a crucial step in planning for the future. Contact us today to learn more about the options available and start securing peace of mind for yourself and your loved ones.
We’re looking forward to helping you get your estate planning sorted.
Don’t worry if you’re not sure where to start. We’re here to guide you through the process.
The guidance and/or information contained within this website is subject to the regulatory regime of England and Wales and is therefore targeted at consumers based in the England and Wales only.
Customer service email address: admin@lamond-wills.co.uk.
Return policy: You have a right to cancel any agreement within 14 days by emailing the company using our customer service email address above.
© 2024 Lamond Wills Ltd Registered in England & Wales, No. 12618945.
Registered Office: 85 Great Portland Street, First Floor, London, England, W1W 7LT.
The guidance and/or information contained within this website is subject to the regulatory regime of England and Wales and is therefore targeted at consumers based in the England and Wales only.
Customer service email address: admin@lamond-wills.co.uk.
Return policy: You have a right to cancel any agreement within 14 days by emailing the company using our customer service email address above.
© 2024 Lamond Wills Ltd Registered in England & Wales, No. 12618945.
Registered Office: 85 Great Portland Street, First Floor, London, England, W1W 7LT.
