Wills are important in ensuring that when you pass away you decide how your money, property and / or possessions are allocated and who they are allocated to. Without a Will it can be difficult for a persons estate to be distributed correctly. Wills can also help reduce the amount of tax payable on the inheritance.
It can be important to make a Will if you have young children so that you can make arrangements for then if one or more parent dies.
If you are not married or in a registered civil partnership then you cannot inherit from each other unless there is a Will.
You don’t need a Solicitor to draft Will for you, if it is straightforward, however it is easy to make mistakes which can then cause problems after your death which may result in considerable legal costs.
It is important to seek legal advice if:
- you share a property with someone who is not your husband, wife or civil partner;
- your permanent home is not in the UK;
- you are resident in the UK but you have property overseas or if there is a business involved
A single Will costs £100 + VAT
A joint Will costs £150 + VAT