No one particularly likes to discuss their death whilst they are alive, but will writing is an important part of life- if you do not make plans about how you want your wealth distributed after your death then it can leave many problems for your grieving family. To avoid this, writing a will whilst you are alive is the easiest solution. Many people feel daunted about the process of creating a will but really it can be rather simple and straightforward and not cost a huge amount.
Legally, you can write a will for yourself for free but if you accidently make the will invalid with a mistake it can cost your beneficiaries. Will writing by a solicitor will be a small investment but for the peace of mind that you will gain from knowing that a legal document has been written up that will follow out your wishes after your death. Here we shall look at a few tips to help make writing your will simple and stress free.
The first thing to do it to shop around before you make any decisions on what solicitors to use, as many solicitors will be keen to bring in new business and will be able to give you a rough indication on how much your personal will may cost. This is based on complications surrounding the document and prices will vary from different companies. Most charge for will writing by the hour-which can be used to your advantage. The more preparation you do before hand will help to reduce the costs considerably.
Firstly, you need to decide on an executor- this person will be responsible for seeing that your estate is distributed as you requested after your death. It is usually advised that you choose another person for this role and then list them in order of preference. Then this ensures that if the first executor is unable to fulfil their role then the other person appointed will be able to step in.
Next it is recommended that you make a list of all your assets, this is your estate and will include things such as your home, your car, money in the bank and personal belongings of sentimental and monetary value. Then you need to create a list of your beneficiaries-these are the people that you want to benefit from your estate. Take time to consider who you want to receive what-most people want their spouse or immediate relatives to inherit the most valuable items.
The more you pre-prepare yourself and know what you want then the cost of will writing will be cut down. Your will is an important document and giving it serious thought and consideration and preparing a draft before meeting with your solicitors before will demonstrate your commitment to getting it right.
Author Resource:
Dom Donaldson is a published writer.
Find out more about Will Writing and the services offered from Will Drafters LTD.
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