Making a Will Part Two: What do I need to do to make a will?
Do I need to use a solicitor to make a will?
Although it is possible to draft your own will, it is not recommended as there is a risk you may not include the correct information or make errors that could have an impact on the people you wish to inherit your estate.
The first step in the majority of cases will therefore be to consult a solicitor who can advise you on making a will and on issues such as inheritance tax.
What goes into my will?
Your solicitor will review information with you such as what you own and your status; for instance if you are married, divorced, cohabiting or whether you have any children.
You will need to discuss all the details of your estate. This could include property, savings, large items such as cars and valuables, shares, bank accounts, pensions, insurance policies and businesses you own or part own.
Next, your solicitor can discuss your wishes for what will happen to your estate with you and advise you of any issues, such as provisions for anyone who depends on you financially. You can also include your wishes for what will happen after you die; for example being buried or cremated, or becoming an organ donor.
You also need to decide who will be the ‘executors’ of your will. This is often a combination of professionals such as your solicitor and personal contacts such as friends or family members. Your executors make sure the instructions you’ve put in your will are carried out after your death. You will need to discuss this with them in advance and ensure they are happy to take on the role.
Once your will is drawn up, it is then signed and you will need to keep a copy in a safe place and ensure your loved ones know where it is.
When do I need to update my will?
It is important to see making a will as a lifetime rather than a one-off process. Changes like getting divorced can make provisions in your will invalid. You should review your will with your solicitor if you do go through any big changes like getting married, and as a minimum at least once every five years.
