Writing a willHow they work

Making a will now prevents a financial headache for your family when you die

We all know we should write a will, but it’s one of those things that many of us never seem to get round to. In fact, it’s estimated that 60% of people die without ever having made a will.

But not writing a will can mean chaos and financial worry for your family or dependants after you’ve gone. Without one, you can’t be sure that your money and property will be passed on according to your wishes.

Reasons to make a will

If you die without a will (called dying intestate) the intestacy rules determine who inherits what. 

If you live in England or Wales and are married or in a civil partnership with children, your partner gets only the first £250,000 of your estate plus a life interest in half the remainder. Your children will inherit the rest. Be aware that rules are different for Scotland and Northern Ireland.

Which? interactive guide to intestacy- check your situation 

The intestacy limits changed recently. Use our interactive guide to see how the new rules would affect your estate if you died without making a valid will.   

Couples who aren’t married or registered as a civil partnership have even more need of a will, as their partner can automatically inherit only jointly owned assets. Everything else goes to the deceased’s next of kin.

You can also use your will to appoint guardians for any children under 18, otherwise the courts will have a say in their future, and to prevent your heirs from having to pay inheritance tax.

Now squeeze this!

However, not everyone uses their will to simply divide up their assets. One disgruntled taxpayer left the Inland Revenue a lemon along with the message ‘now squeeze this’. And in 1862, Henry Budd left £200,000 in trust to his two sons on the condition that neither grew a moustache.

But whether you want to leave this mortal coil having determined your offsprings’ choices of facial hair or reduced the amount of inheritance tax they’ll pay, you can’t do this unless you have a will in the first place.

Essential tips

Witnesses 

Writing a will is much simpler than you may think

A will that is not properly signed and witnessed is invalid. In England, Wales and Northern Ireland, two witnesses are required. Witnesses should be in the same room when the will is signed. A witness does not need any special qualification or public standing but is merely witnessing your signature. 

However, they must not have any beneficial interest in the will as this could make the will invalid. In Scotland normally one witness is sufficient, but in some circumstances even a will that is not witnessed may still be valid. If you're not sure whether a will is valid, check with a solicitor practicing under the relevant country's law.

Using a will writer

If you use a will writer, check what qualifications they have and by whom the firm is regulated. Also ask for evidence of indemnity insurance and for details about procedures should you or your beneficiaries have a problem with the will

Expert advice 

Don’t assume that if you use a solicitor or will writer you will always get an expert – always ask about qualifications. If you need advice on inheritance tax, for instance, check that the person who is writing up your will has additional tax qualifications and knows what they’re doing. You wouldn't ask your local GP to perform Open Heart Surgery although they may have both qualified as Doctors!

Using a bank 

If you use your bank to write your will, check how its will-writing service is regulated. Banks are regulated by the Financial Services Authority and covered by the Banking Standards Regime for many different services but not for will writing

Executors 

Are your circumstances relatively straightforward? Then DON'T appoint a solicitor or bank as executor, as this can work out to be expensive, some banks charge anything up to 4 or even 5% of the value of the estate regardless of how complex it actually is to deal with. Appoint a trusted friend or relative (or one of your children, if over 18) instead. They can always pay for professional help if they need it later.

Be up to date 

Should your circumstances change (for example, if you get divorced or have children), don’t forget to update your will

Seeking specialists 

If you need specialist advice on trusts and estates, look for a practitioner who is a member of the Society for Trusts and Estate Practitioners or the Law Society Probate Section

When not to DIY

It’s tempting to save money by setting up your own will, but doing it yourself isn’t suitable if:

• Your circumstances are complicated or the way you wish to pass your assets on is very detailed
• Someone who is unable to care for him- or herself is financially dependent on you
• You have been married before and have children from a previous marriage
• Your permanent home is not in the UK and/or you are not a British citizen
• You have property overseas
• There is a business involved
• You want to reduce or avoid inheritance tax.

Instead, consult a solicitor or, alternatively, a qualified will writer who is a member of either the Institute of Professional Willwriters or the Society of Will Writers (See Contacts and glossary).

For expert advice and more information on making a will the hassle-free way, read the best-selling Wills & Probate guide.

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