Description: Platforms that allow you to create a Will online by answering a series of questions. Some offer reviews by legal professionals e.g. Online Wills UK
Benefits:
- Cost-Effective: Usually the cheapest option.
- Convenience: Can be completed from the comfort of your home at your own pace.
- Speed and Simplicity: Often quick and easy to use for straightforward Wills.
- Accessibility: Available 24/7.
- Legal Oversight (in some cases): Some services have legal professionals review the drafted Will.
Online Wills is a provider of a simple DIY will writing website, where customers can very simply, create, proof read and then print off a fully legal last will and testament for a fraction of the cost of visiting a solicitor or will writer.
Protecting Loved Ones.
A will ensures that assets are distributed according to your wishes, preventing legal disputes and financial hardship for your family. Without a will, the law through the rules of intestacy dictates who inherits your estate, which may not align with your preferences.
56% of UK adults have not made a Will, thats over 30 million potential customers, today!
But why have a Will?
Having a last will and testament in the UK is crucial for several reasons:
1. Ensuring Your Wishes Are Followed.
A will allows you to decide how your assets (property, money, and possessions) are distributed after your death. Without one, the rules of intestacy determine this, which might not align with your intentions.
2. Avoiding Family Disputes.
Clear instructions in a will can prevent misunderstandings and legal disputes among family members over inheritance.
3. Protecting Unmarried Partners & Stepchildren.
If you die intestate (without a will), unmarried partners and stepchildren are not automatically entitled to anything, potentially leaving them without financial support.
4. Appointing Guardians for Children.
A will lets you choose who will take care of your minor children if both parents pass away, ensuring they are looked after by someone you trust.
5. Minimising Inheritance Tax.
With proper estate planning in a will, you may be able to reduce the amount of Inheritance Tax (IHT) your estate has to pay, ensuring more goes to your loved ones.
6. Appointing Executors.
You can name executors (trusted individuals or professionals) to manage your estate efficiently, reducing administrative burdens on your family.
7. Making Charitable Donations.
A will allows you to leave money or assets to charities, supporting causes you care about while potentially reducing tax liabilities.
8. Protecting Business Interests.
If you own a business, a will can outline succession plans, ensuring smooth transition and preventing legal complications.
9. Peace of Mind.
Having a legally binding will in place provides reassurance that your affairs are in order, reducing stress for both you and your loved ones.
Important Note: For complex situations involving significant assets, business interests, potential Inheritance Tax liabilities, or complex family structures, it is generally advisable to seek advice from a qualified solicitor specializing in Wills and Probate. While other resources can be helpful for simpler estates, a solicitor provides the highest level of legal expertise and protection. Collaborating with an accountant alongside a solicitor can also be beneficial for comprehensive financial and tax planning.
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