What are a Will’s legal requirements, and can you write one yourself? A Will is a legal document which can take many forms. Although it is normally formally written, the courts will recognise any document which meets the criteria. Namely this is that:
The main purpose of a Will is to have peace of mind that you have put all of your affairs in order. This includes: appointing who will manage your finances and distribute your estate on your behalf; deciding who will look after any minor children; giving out family heirlooms and other valuables to those that you choose; providing cash gifts to loved ones or charities dear to your heart; choosing to exclude particular people from any inheritance; and nominating who will take an interest in your property. There are many other things that a Will can do if written correctly.
When a person dies without a Will, this is known as being intestate. The courts will therefore distribute all of your estate according to a set of defined rules regardless of what you would actually like to happen. Partners of long term relationships, where unmarried, will inherit nothing. An estranged sibling might inherit everything. A Will puts you in control.
Yes, making a Will yourself or using some kind of template does meet the Will’s legal requirements. You will, most likely, have a Will that will be recognised by the courts when the time comes. But there are risks and limitations in taking on the task yourself.
Each client at Dogwood is treated as an individual. We take the time to understand your financial position, your family situation, and your goals and requirements to be fulfilled by your Will. Advice is given which is tailored to your particular needs and situation. A degree of Estate Planning is done in tandem with understanding your needs in order to minimise any tax liability. We additionally will ensure that your estate is owned in such a manner that your Will is effective and as expected. In addition to creating a legally robust Will, we can additionally provide a range of options such as:
Please call us on 07436 566932 or e-mail info@dogwoodwills.co.uk to understand how we can help you achieve peace of mind for your Will.