Did you know that there’s more than one type of will?
Different wills can protect your property and money in different ways. It’s important to understand the options available so that you know you’ve got the protection you need
When it comes to making a will, there’s no ‘one size fits all’ solution. There are different types of wills available, and which one is right for you will depend on your individual circumstances.
What are the different types of wills?
The 3 most common types of wills in England and Wales are:
Single will – this is a standard will for one person to say how they would like to distribute everything they own after they die and who should be responsible for carrying out these wishes. A standard single will can also be used to appoint guardians for children under 18 and record any funeral wishes.
Mirror wills – these are two standard wills that mirror one another. They are commonly used by partners who want to leave everything to one another and then to the same beneficiaries after they both die. If a couple’s wishes are very closely aligned, mirror wills can be a more cost-effective option than getting two single wills separately. It’s important to note that, although mirror wills are made at the same time as one another, they are standalone documents.
Trust wills – various trusts can be used in wills to ringfence or protect certain assets. They can help to protect an estate against possible care fees, safeguard a vulnerable person’s inheritance or look after a partner while still providing for children from a previous relationship. Trust wills may appear complex, but with the right information and advice they can be a straightforward, flexible and practical solution.
Co-op Legal Services has developed an interactive tool to help you understand your options when it comes to making a will. The Digital Estate Planning Assistant asks questions about what’s important to you and provides a bespoke recommendation of which type of will best suits your individual needs.
As a Silversurfers member, you can benefit from £25 discount on will writing services with Co-op Legal Services. You can also access a wealth of free digital tools and resources on will writing and estate planning.
To get in touch with Co-op Legal Services or access these free resources, visit the Co-op Legal Services Resource Hub.
Leave a Comment!
Community Terms & Conditions
These content standards apply to any and all material which you contribute to our site (contributions), and to any interactive services associated with it.
You must comply with the spirit of the following standards as well as the letter. The standards apply to each part of any contribution as well as to its whole.
be accurate (where they state facts); be genuinely held (where they state opinions); and comply with applicable law in the UK and in any country from which they are posted.
Contributions must not:
contain any material which is defamatory of any person; or contain any material which is obscene, offensive, hateful or inflammatory; or promote sexually explicit material; or promote violence; promote discrimination based on race, sex, religion, nationality, disability, sexual orientation or age; or infringe any copyright, database right or trade mark of any other person; or be likely to deceive any person; or be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence; or promote any illegal activity; or be threatening, abuse or invade another’s privacy, or cause annoyance, inconvenience or needless anxiety; or be likely to harass, upset, embarrass, alarm or annoy any other person; or be used to impersonate any person, or to misrepresent your identity or affiliation with any person; or give the impression that they emanate from us, if this is not the case; or advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse.
Nurturing a safe environment
Our Silversurfers community is designed to foster friendships, based on trust, honesty, integrity and loyalty and is underpinned by these values.
We don't tolerate swearing, and reserve the right to remove any posts which we feel may offend others... let's keep it friendly!