10th May 2021
If you’ve thought about making a Will but haven’t gotten around to it yet, you might be tempted to write it on your own. After all, there are loads of DIY-Will-writing kits widely available for anyone to use. It can’t be that hard then, can it?
Before you attempt to do it yourself, consider the worst-case scenario: If your Will isn’t written in a way that means your exact wishes are carried out, what will happen to your beneficiaries and your estate?
Why Do I Need a Solicitor for My Will?
Solicitors have the knowledge and experience to ensure that your Will is written and carried out to your exact specifications and to the letter of the law. Today, we will take a look at some of the reasons why going with an experienced solicitor is the right call for your Will.
#1. Your Will May Not Be Straightforward
Making a Will can be more complicated than most people realise, especially if you have a complicated family situation. Divorce and remarriage, custody issues, civil partnerships, and other special family situations might require very specific details within your Will.
Solicitors know the ins and outs of drafting a Will for every possible family situation. They know when things like inheritance tax or care home fees might impact your beneficiaries.
#2. Special Situations
Do you know what happens if one of your dependents feels that they are not adequately provided for in your Will? What about if a former spouse or child from a previous marriage makes a claim on the Will?
There are some special situations that many people never consider when drafting their Will. Unfortunately, unless you know the law regarding these situations and you understand how to write your Will to cover them, it might end up being very expensive to sort out..
#3. Foreign Property
It is not uncommon for many Britons to have property abroad. You may wish to leave a foreign property to your beneficiary, but the laws in every country regarding Wills and property are different. A solicitor will ensure that you have exactly what you need to secure these assets.
#4. Planning for Inheritance Tax
If your estate exceeds the taxable amount for your particular circumstances, inheritance tax may be payable. If you have children, you could be eligible for substantial exemptions. However, if you don’t have children, your beneficiaries could pay steep inheritance taxes. A solicitor can advise you how to protect your estate.
#5. Protecting Your Estate From Care Home Fees
We can never know what the future holds. Although you may not plan for it, you might end up spending time in a care home in your later years. The costs associated with being in a care home can add up. Many people are surprised to find they are responsible for most or all of the costs themselves.
Estate planning isn’t just for what happens after you die. The events that occur during your later years in life can deplete the value of your estate if you aren’t careful. However, a solicitor can help you plan for these events to have an estate to leave behind.
Utilising as a Life Interest Will to avoid care home fees could help you preserve your estate for your beneficiaries. They can also give you peace of mind during your later years, so you can spend them enjoying your time rather than fretting over the future.
#6. Making Sure Your Wishes Are Carried Out
If you’ve taken the time to make a Will, you want to make sure that your final wishes are carried out.
If you make any changes to your Will, it could invalidate it if they don’t comply with the law. This includes adding a page to the document or even writing on it in any way. Any changes need to be written into a completely new Will or added as a codicil. A solicitor can do either of these for you to ensure that your Will remains valid.
Make Sure Your Will Works For You
To ensure your estate is taken care of promptly, having a Will is the best course of action because it ensures that your estate goes to people that you have chosen..
Elizabeth Middleton Solicitors are at the ready with an excellent staff to assist you with your estate planning needs. Contact us for more information about assistance with your Will, as well as your other legal needs for probate, lasting powers of attorney, equity release, and settlement agreements.