Many people postpone making a will. Yet, a professionally written will allows you to ensure your assets are dealt with according to your wishes after you die.

Holmes & Hills offer complete will writing services. Our professionals will guide you through the process of making a will, what is involved and what can and should be included in your will.

What is a will?

 A will is simply a written legal document that details how you would like your assets to be dealt with upon your death.

What happens if I don’t make a will?

 Where a person dies without having made a will, the distribution of all their assets is decided not by their relatives or friends, as is often assumed, but by legislation. This legislation means in many cases assets are not distributed as a deceased person would have wished.

In addition to this unfortunate fact, no provisions would have been made for funeral arrangements and costs, requiring the cost to be funded by those left to arrange it. In some cases those arranging and funding the funeral will not always be those that have received assets from the deceased’s estate.

Unmarried persons without a will are the most vulnerable to having their assets distributed according to legislation against their wishes.

The benefits of making a will:

Determine who benefits from your will – you decide precisely which of your family and friends recieve any or all of your assets. Your will allows you to be as detailed as you feel necessary to fulfil your wishes.

If some of your beneficiaries are young children or teenagers, preparing a will allows you to stipulate at what age they will inherit your chosen assets and how who shall control them until they are inherited. 

Choose your own executors – wills allow you to stipulate who will be responsible for ensuring your wishes are carried out and our assets distributed as you would like. This gives you the opportunity to select the person/s you believe are most appropriate and most likely to be willing to take on this role.

The importance of the role means the executor/s to your will must be carefully chosen. If you do not feel you have a relative or friend that would be able to fulfil the role, you can appoint a professional such as a solicitor who will undertake the administration of your estate (either solely or with a relative or friend).

It is advised that you make your chosen executors aware of the role you have given them in your will.

Appoint Guardians for your children – your will allows you to ensure your children or dependants are appropriately cared for after your death. It enables you to appoint a person or persons you would like to care for them should you die and make financial provisions for the guardians to help them continue to provide for your loved ones.

It is advised that you discuss the role of guardianship with those persons you wish to name as guardians before having your will prepared so as to ensure they would be willing to take on this responsibility.

Minimise inheritance tax – your solicitor will assess the level of your assets and advise you on ways in the inheritance tax payable out of your estate can be minimised, thus reducing the financial burden on your loved ones when you die.

A solicitor and experienced will writer, such as those at Holmes & Hills, are able to draft wills that drastically reduce the level of inheritance tax payable on your estate.    

Make your own funeral arrangements – you are able to state in your last will and testament the arrangements you would like to make for your funeral, including any requests for a special venue or ceremony.

You can also set aside a proportion of your assets to pay for the funeral so you do not have to leave your loved ones to foot what can be an expensive bill.  

Updating a will:

Wills need to be updated to reflect changes in your personal circumstances or those of beneficiaries or executors named in your will, such as:

•           the arrival of children or grandchildren
•           the purchase of a new asset such as a house
•           the sale of an asset included in your will
•           changes to your financial situation
•           the death of a beneficiary or executor

 You will also need to update your will if you change how you wish for your assets to be distributed upon your death, for instance adding a new beneficiary or removing someone currently named.

A will that has not been updated for several years may no longer meet your requirements and no longer be fit for purpose. However, wills can be easily updated by a solicitor with the relevant knowledge and experience.

The cost of making a will:

 Holmes & Hills’ Private Client Department specialise in writing and updating wills and our solicitors will make a will for you that is tailored to your circumstances and wishes. They will:

• Meet with you at our offices in Braintree, Halstead ot Tiptree, or in the comfort of your own home, at your convenience
• Advise and guide you on what is involved in making a will
• Fully prepare your tailored will