Making a will - why you need a solicitor
- AuthorJodi Flint
Without a will in place clients have no control over what happens to their hard earned wealth (often referred to as your estate). Your estate will be shared out in a standard way defined by the law – which isn’t always the way you might want.
You may have lost contact with close relatives, separated from a spouse or simply want to divide your assets in a specific way. By making a will, you can decide exactly what should happen to your estate in the event of your death. Often as important, you can choose who would be responsible for dealing with your affairs.
Homemade Wills or the use of a Will Writer
Homemade wills can be used in the simplest of cases where there is no property and the estate is not taxable. There are a number of reasons why this is not a good idea and just one mistake or omission, no matter how small, may invalidate the entire will. Where a will is found to be invalid your estate will be shared out in accordance with the law and your wishes will be disregarded. Otherwise you might find that a homemade will does not cater for all eventualities.
Many people therefore decide to rely on Will Writers because of their low prices. The intention of your will may be very simple but the legal formalities and language required are complicated and must be strictly followed. Many words and terms have specific meanings in law, which are different from their everyday use. Often Will Writers have only completed a few hours training and may not be able to advise fully on complex matters such as tax planning, trusts or proper estate planning.
There is no industry wide regulation for Will Writers and there are few safeguards in place if things go wrong. Dealing with misunderstandings and disputes after your death could result in considerable legal costs, which will reduce the amount of money in your estate.
If a Will Writer goes out of business this could cause potential problems if you had a will stored with them. There is also no requirement on them to maintain any level of insurance and you can often find out they are no longer trading if you have a complaint.
Why instruct a solicitor?
Solicitors are professionally qualified and have undertaken years of training to be able to give complex advice surrounding all the decision making and pit falls of estate planning. They are also able to give advice regarding additional matters which may arise during detailed questioning. Solicitors usually offer a free secure storage option and should they go out of business all documents are taken and stored securely by the Solicitors Regulation Authority (SRA), giving you the peace of mind you deserve.
Solicitors are regulated by the SRA, maintain high levels of insurance underwritten by the Law Society and often accredited by reputable professional bodies such as WIQS, Lexcel, Solicitors for the Elderly and the internationally renowned Society of Trusts and Estate Practitioners (STEP) providing you with the utmost protection and safeguarding.
With a personable approach and a professional attitude, we’ll help you safeguard your assets and make sure your legacy lasts. At Talbots Law, our goal is to ensure your estate is protected before you die. Writing a Will is the first step to certainty; once it’s done, you’ve already prevented potential problems that might arise on your death.
When it comes to drafting the Will, don’t panic. Our specialist solicitors have vast experience in helping clients safeguard their assets and are here to provide advice that meets your specific needs. Take advantage of our knowledge and we’ll dedicate our time and effort to ensuring no stone is left unturned. That way, we’ll work together in drafting an airtight document that secures your possessions.
Your Will, your way. Trust in Talbots Law.