Making A Will – Why It’s Important You Have One

A well-prepared will is one of the most important legal documents you will ever sign. After your death, a will provides legally binding guidance on how you wish your estate to be distributed. This ensures your wishes are respected, and your loved ones are provided for.

Estate planning can be complex but with appropriate legal advice, your will can be tailored to reflect your intentions and withstand legal scrutiny.

At Daniel Woodman & Co, we provide expert legal guidance and will writing services in Bristol and the surrounding area. Our process is designed to provide clarity and inspire confidence that your estate will be handled with care. From the initial will checklist to the drafting of practical considerations at the point of probate – we ensure peace of mind during every step.

The Main Things to consider when writing a will

When preparing a will, it is essential to consider several fundamental questions. You should calculate the value of your estate, who you want to inherit your property, and what should happen to your estate following your death.

To calculate the value of your estate, you need to assess all that you own – including property, bank and savings accounts, vehicles, and valuables. You should also consider any outstanding debts, or liabilities such as a mortgage, as these will also need to be handled after you die. The net value of your estate will be the culmination of the value of all these individual assets minus your debts. You should also consider any outstanding debts, or liabilities such as a mortgage, as these will also need to be handled after you die.

Once you have established your estate value, it’s then up to you to determine who will inherit it after your death – alongside how it should be shared among any beneficiaries.

Below are a few of the considerations to make:

• Leaving everything to one person, such as a partner or spouse.
• Giving specific gifts – such as jewellery or personal valuables.
• Leaving cash gifts to friends, relatives, or charities.

It is important to also name additional beneficiaries, to prevent a situation wherein someone named in your will dies prior to the distribution of your estate.

Your will also needs to identify executors and trustees. These are the individuals responsible for carrying out your instructions and handling your estate following your death. You can appoint multiple executors, including a professional executor such as a solicitor if you deem it necessary.

Trusts and Additional Provisions

If you have children under the age of 18, your will should appoint a legal guardian who will be responsible for their wellbeing should both parents die.

You may also incorporate a trust into your will. A trust will manage how and when beneficiaries receive their inheritance – which is particularly important for those who are vulnerable or under the age of 18.

Your will can also include provisions separate from the handling of your estate. This can include funeral wishes or the care of pets. Some provisions may not be legally binding, but ensuring these preferences are documented comprehensively will allow the best chances of your wishes being respected.

What Grant of Probate Means

Once a person has died, their will must then be handled by their named executor to deal with the distribution of their estate as per their instructions. To proceed with this, executors must obtain a Grant Of Probate. This is a legal document that gives them the authority to manage the deceased’s estate – including dealing with land, accessing bank accounts, distributing or selling assets, and managing any debts or taxes.

When a person has no valid will, their estate will be considered intestate. In this circumstance, their estate will be distributed under statutory intestacy rules, and a document – called a Grant Of Letters Of Administration – may be required. The intestate process can be complex and lengthy – potentially leading to outcomes that do not reflect the deceased’s wishes.

With a comprehensive and professionally drafted will, probate administration is typically more straightforward. This reduces the chance of delays and disputes.

Lasting Power Of Attorney

A will is a document that only comes into a effect following your death. However, in your lifetime, you may grant Lasting Power Of Attorney (LPA) to an individual to make decisions on your behalf, should you lose the capacity to do so. An LPA is a legal document that is intended to protect you, and it is the responsibility of an Lasting Power Of Attorney recipient to protect your best interests.

In the case of your will, your attorney typically does not have authority to alter your will once it has been written. This ensures your wishes remain as you initially dictated them. There are exceptions where this can be overturned with an application to The Court Of Protection – however, there is a high legal bar for this, and The Court must be satisfied any changes are necessary and in your best interest.

Upon a person’s death the authority of an attorney under Lasting Power of Attorney will cease and the duties of deal with the debts and assets will pass to the personal representatives of the estate which if appointed under a will are the executors.

How Daniel Woodman Can Help

At Daniel Woodman, we guide our clients through the will writing process with care and clarity. Our expert legal advice provided by our skilled solicitors means we provide a seamless and supportive experience.

If you are considering a professional will writing service, get in contact with our team today – we’re always happy to help.