Is a DIY Will really the best thing for you?
16th Apr 2020
I appreciate that in the current climate it may be tempting to write your own Will. Of course you can if you want but is this the best thing for you?
Lots of people think that their affairs are simple but when we get talking it becomes clear that it may not be as simple as you think. For example did you know that you could end up paying inheritance tax when you don’t need to. A properly drafted will can ensure you maximise all the available tax allowances to reduce the amount of tax you pay. Did I mention that inheritance tax is 40%, yes I did say 40%!
You also want to make sure that part of your estate doesn’t fall into intestacy. Which means you lose the chance to say who it goes to. Whilst I am on the subject you will also want to ensure that you have appointed the right executors. If you have children with an ex partner you may want to ensure that your ex does not get control of the money left in your Will. This is a risk without a correctly drafted Will.
A Will made with a qualified Solicitor is not necessarily as expensive as you may think. We offer a free initial consultation and the service includes:
- Personal attention from a qualified professional who will apply their knowledge to your individual circumstances and often ask you to consider things you have never thought of.
- Drafting of the Will to meet your needs and an explanation of any relevant legal issues
- Ensuring the Will is Executed in accordance with the law. Executed basically making sure that the Will is drafted and signed correctly so that when it is needed for Probate it can be presented effectively.
- Storage – we store your Will for free and provide copies as required.
- In addition, like all Solicitors firms we are insured and therefore you are protected by our Professional Indemnity Insurance policy.
Don’t leave it too late. We would strongly recommend ensuring you write a Will to provide for what happens after you’ve gone. It may not be as expensive as you think and we will do our best to make the process as simple and easy as possible for you. We have a team of people that can help so please contact me and we will get the process started for you:
Philippa Wright – Head of Wills and Probate
Office: 0161 928 3848 (as a result of the lockdown lots of people are working from home so please feel free to call my mobile number)
Mobile: 07711 375751