Why you should make a will

Your will tells everyone what should happen to your money, possessions and property after you die (all these things together are called your ‘estate’). If you don’t leave a will, the law decides how your estate is passed on – and this may not be in line with your wishes.

Four reasons why you need a will

1. A will makes it much easier for your family or friends to sort everything out when you die – without a will the process can be more time consuming and stressful.
2. If you don’t write a will, everything you own will be shared out in a standard way defined by the law – which isn’t always the way you might want.
3. A will can help reduce the amount of Inheritance Tax that may be payable on the value of the property and money you leave behind.
4. Writing a will is especially important if you have children or other family who depend on you financially, or if you want to leave something to people outside your immediate family.

Your wishes and who carries them out

Your will tells people two very important things:

• who should have your money, property and possessions when you die, and
• who will be in charge of organising your estate and following the instructions you leave in your will – this person is called your ‘executor’, and you can name more than one person if you want to.

You can also use your will to tell people about any other wishes you have, like instructions for your burial or cremation. Your executor will do their best to make sure your wishes are followed, as long as they don’t involve breaking the law.

It might not always be possible to follow your instructions – for example, a person you want to leave something to might die before you do – but if you have a will there’s a better chance of things happening the way you want.

Make sure your will is legally valid

Your will doesn’t have to be on special paper or use a lot of legal language. A document is a valid will as long as it:

• says how your estate should be shared out when you die
• is signed and dated by you in the presence of two witnesses, and then signed by the two witnesses in your presence – the witnesses can’t be people who are going to inherit anything from you (or their husband/wife or civil partner), and
• was made when you were able to make your own decisions and you weren’t put under pressure about who to leave things to.

How to start making a will

If your family is quite small and you want to leave everything to them, making your will is quite easy.

If your situation is more complicated – for example, if you have a second family or you want to leave money and gifts to lots of people – you’ll need to plan more carefully. Either way, don’t put it off – make sure that what you leave behind passes to the people you intended.

Professional Mortgage Services recognise the importance of having a valid will and believe that this is an area that should be left to the specialists who fully understand the processes involved.

What ever your location, if you want to draft a will then we will be happy to put you in touch with our trusted associates who can visit you in your own home and operate throughout the country.