Write a Will FAQ
1. What is a will?
A will is a legal document that anyone over the age of 18 and being of sound mind can make that states in detail what they would like to happen to their estate when they die. Your estate is the combined total of all you own. This often means a house, savings in the bank and various personal items.
2. Why should I make a will?
If you die without having made a will you have died intestate. This means that your estate will be distributed according to certain rules and laws. If you have no close relatives, then the government takes all your belongings.
Making a will is your chance to state clearly how you would like your estate to be distributed after your death. You can also state funeral preferences, cremation or burial, as well as the hymns to be sung or a particular passage to be read. In short, this is your chance to have your last fling, so to speak. You can show friends and relatives how well they were appreciated, and more importantly, you have the chance to tie up your affairs in a proper and acceptable manner.
3. Why should I bother to make a will if I don’t have much to leave anyone?
Many people die without having amassed a fortune, yet many of them take the time beforehand to make a will. This means that what possessions you do leave will be distributed in the way you want them to be, and not according to the law. A will is for everyone and not just for the rich and wealthy.
4. What is an executor and how do I appoint one?
The executor of your will is the person you name to carry out the details in the will when you die. The executor can be anyone of your choosing who is at least 18 years of age. You can appoint a spouse, a son or daughter, a brother or sister, or a close friend, for example. It is always best to appoint someone you trust and who you feel is up to the job. It is also a good idea to talk it over with them first to be sure that they are prepared to do it. No one wants to learn at the reading of the will that they are now the executor!
5. Can I appoint only one executor?
No. You can appoint up to four executors of your will. However, four executors may prove a bit unwieldy and unnecessary. Two executors is a good number to have. This provides an alternative if for whatever reason one of them is unable to undertake the duty.
6. How old should I be before I make a will?
It is a fallacy to believe that only old people make wills. It is never too early to make a will. You have to be over 18 years of age in England, Wales and Northern Ireland, but only 12 in Scotland. Young people may feel they have few belongings of value and that writing a will is pointless. However, if a will is treated like any other important document that should be updated and amended whenever there is the need for it, it will be seen as something necessary, and not macabre. Death is a reality that we can’t avoid, and writing a will is merely facing up to reality and showing a responsible attitude.
7. Do I have to use a solicitor to make a will?
No, you can write your own will, and providing you follow some basic guidelines, it will be perfectly valid. However, the problems that arise with wills usually happen because of vague or ambiguous statements. If something in a will can be interpreted in several different ways, then it usually will be! If you have any doubts at all about your ability to write your own will, it is best to let a solicitor help you, or do it for you.
8. Does it matter who I choose to have as witnesses to my will?
Your choice of witnesses to you signing your will should be a careful one. Any witness of a will, as well as their spouse or children, cannot benefit from the will. This means, for example, that if you write your own will and have your spouse as one of the witnesses, they will be unable to inherit anything from you.
For this reason you should only choose a witness who is someone who will not benefit from your will in any way.
9. Where should I store my will?
You can legally keep your will wherever you like. However, it is wise to think carefully about where your will is kept. When you die your executor will need access to the will as soon as possible, so he or she should know beforehand where it is being kept. It is common for a will to be kept with the solicitor who assisted you in drawing up the will. However, some people still store their wills under the mattress and choose not to tell anyone that it’s there!
10. Do I need to register my will?
It is certainly a good idea is to register your will at a central will registry. You don’t have to and it’s not a requirement of law, but it provides an extra level of security for the whereabouts of the will. Registering your will creates a digital record that is held on a central database that lists the whereabouts of the actual document. As well as registering the will, it is wise to let the executor of the will and members of your family all know where it is being kept.
11. Can I make changes to my will after I have written it?
Yes, in one of two ways. You can write a new will or sign a document called a Codicil. However, a Codicil can prove cumbersome and often it is easier to simply write a new will, which will then supercede the old one. Often you will be changing just a part of the will, so much of the wording can stay the same.
12. Can I cancel a will?
Yes. If you destroy the actual document you will effectively cancel your will. Of course, writing a new will also cancels the old one.
Resources:
http://www.direct.gov.uk/en/Governmentcitizensandrights/Death/Preparation/DG_10029800
http://www.certainty.co.uk/faq-about-wills