Will Planning Essentials: Creating a Legally Valid Will in England and Wales

A properly drafted will is one of the most important steps you can take to ensure your wishes are respected and your loved ones are provided for after your death. Without a valid will, the intestacy rules will decide who inherits your estate, which may not reflect your intentions.

Legal Requirements for a Valid Will

To be valid in England and Wales, a will must be made by someone aged 18 or over who is of sound mind. It must be made voluntarily, in writing, and signed by the person making the will in the presence of two witnesses, who must also sign the will at the same time. Witnesses cannot be beneficiaries or married to beneficiaries.

What to Include in Your Will

Your will should name executors (the people who will carry out your wishes), specify beneficiaries, and detail any specific gifts or amounts you want to leave. It should also state what happens to the remainder of your estate (the residuary estate) and appoint guardians for any minor children.

Common Mistakes to Avoid

DIY wills can lead to problems, especially in complex situations. It’s wise to review your will every three to five years or after major life events. Make sure your will is stored safely and that your executors know where to find it. Remember, beneficiaries cannot act as witnesses.

Special Considerations

Modern estates often include digital assets, so consider leaving access details. If you have business interests, think about succession planning. For foreign assets, you may need separate wills for each country. If you plan to disinherit someone, be aware of potential claims against your estate.

Will Trusts

Trusts within your will can provide flexibility and protection for beneficiaries. Discretionary trusts, interest in possession trusts, bereaved minor trusts, and disabled trusts each serve different purposes, such as providing income for a spouse or safeguarding assets for children or vulnerable beneficiaries.

Professional Will Writing

If your situation involves complex family arrangements, business interests, significant assets, or international elements, professional will writing services can help ensure your wishes are carried out as intended.

A well-drafted will can save your loved ones time, money, and stress at a difficult time.

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Disclaimer: This blog post provides general information for educational purposes only. It is not legal advice. Outcomes can vary based on your personal circumstances.