We all know how important it is to make a Will to ensure loved ones are cared for after our death. However, whether you have made a Will with a solicitor, using a Will pack or made a Will online, there are some common pitfalls that could render your Will legally void.
Many Wills are contested and are often not legally sound, a fact which can lead to intestacy or could incur an additional 10% in probate fees, to rectify the situation. The 3 most common pitfalls are:
You can make changes to your Will once it has been written, signed and witnessed. However, if your situation changes and you want to make a change to your Will, you need to do so with what is called a Codicil. Each Codicil will need to be signed and witnessed, just like the original Will. Sometimes if major changes are needed, it is advisable to create a new Will. Updating or making a new Will is free for our customers at Nine Minute Will.
Your beneficiaries are those who will inherit according to your Will, executors are those making sure it is carried out according to your wishes. It is important to use their full name and gender in your Will and state their relationship to you, so that they can be identified after your death. Sometimes beneficiaries or executors named in a Will have since passed, so it is important to keep your Will up to date and to provide alternatives in case of death.
Make sure your Will is dated and signed by you and 2 witnesses in the following way:
- Date and sign your Will with both witnesses present
- Both witnesses sign your Will with you present
Your witnesses are not allowed to benefit from your Will and cannot be married to a beneficiary. You and both of your Witnesses must be in the same room (in sight of the Will) during the entire signing process.
Finally, inform your relatives and executors about your Will.
Nine Minute Will offers affordable Wills online. Our single Wills cost only £19.99 and can be made in just a few minutes. Our friendly UK team has been serving customers since 1993. Find out more about our Wills at www.nineminutewill.com or call us for free on 0800 043 2559.