Category: Will articles

An excerpt from Lawpack’s Last Will & Testament Kit.

When you’re making a Will you need to think about the property that you own. And how you own it. This is because, under current law, not all property can be passed on under a Will.

You need to find out whether any property you jointly own (this can be your home, a bank account or any other property) is held under a joint tenancy (which means that you both own the whole property) or under a tenancy in common (which means that you each own a specified share in the property and those shares are not equal, say 40% and 60%)?

Any property that is owned by you with another person as joint tenants doesn’t fall into your estate and therefore cannot be dealt with by the terms of your Will.

The distinction between a joint tenancy and a tenancy in common isn’t easy where property is owned equally so if you’re uncertain how your property is held, you should take legal advice.

If the property is held under a joint tenancy, then upon your death your interest in the property automatically goes to your surviving co-owner.

If your property is owned under a tenancy in common, then you can give your share in the property to whomever you wish when making your Will.

If you wish to do so, you can (unless you’re domiciled in Northern Ireland) easily change a joint tenancy into a tenancy in common by presenting your co-owner with written notice of your intention.

It’s important, however, that this written notice is given before your death, and not in your Will. If you wish to do this, you need to take legal advice. This enabling legislation hasn’t been passed in Northern Ireland, so you must take legal advice.

A surviving joint tenant may be liable to pay Inheritance Tax on inheriting your share of the jointly owned property, unless you specify otherwise when making your Will. This doesn’t apply to spouses or civil partners who are automatically exempt from Inheritance Tax in these circumstances.

If you don’t wish the other joint tenant to pay this Inheritance Tax personally, you must include the following statement in your DIY Will:

‘I wish the burden of any tax due on my interest in property held under a joint tenancy to fall on my residuary estate.’

Property which is situated abroad (which for this purpose includes any other jurisdiction in the UK other than where you are domiciled) may not pass under your Will.

You should take legal advice before making a Will if you own or have an interest in property abroad.

Generally, life insurance policies that are expressed to be for the benefit of your spouse and/or children don’t pass under your Will and therefore don’t form part of your estate.

The premiums paid on such a policy are not taxable if paid out of normal disposable income. The policy can be written in such a way that the proceeds are not taxable when you die.

A life insurance policy is therefore a good way to provide your family with the funds to meet any tax payable upon your death. Consult your life insurance company for more details.

Your pension rights may pass outside your will in the same way. Your employer or pension provider should have more details.

In many cases, you will be able to name the person who is to benefit from your pension rights, but only in a separate document, and not in your Will.

Write your Will with Lawpack:

• DIY Last Will & Testament Will

Cohabitation (or living together as an unmarried couple/family) does not automatically give you the same ‘rights’ as marriage or a civil partnership.

Find out the cohabitation risks, and find out how you can protect yourself, your partner and your family by simply making a will today.

Research by the National Consumer Council revealed that only 17% of cohabitants have made a will.

So what? Well, consider this…

The consequence of not making a will are much more serious for cohabitants, than, for instance, married couples, because (under current laws) the partner has no automatic entitlement to the estate.

Put simply, if you’re not married and living together, there are no guarantees under our current law that your partner will automatically receive any of your money or property should you die.

Put even more simply: if you’re not married and want to ensure that your partner and children are protected and cared for, you should be making a Will.

And put starkly: do not assume your partner has automatic legal rights to custody of your children. There is no-such thing as a ‘common-law husband’ or a ‘common-law wife’.

Unmarried couples are at risk if they don’t make a Will.

Here’s what the Law Society says about the cohabitation risk that you are running:

“It is particularly important to make a Will if you are not married. […] This is because the law does not automatically recognise cohabitants as having the same rights as husbands, wives and civil partners. As a result, even if you’ve lived together for many years, your cohabitant may be left with nothing if you have not made a Will.”

Making a Will is a simple process, and with Lawpack’s DIY Will Kit, you can make a Will without incurring the expenses of a solicitor.

By making a Will, you’re able to:

• Say who you want to leave your property, money and other assets to
• Ensure those you love are protected and cared for
• Choose your children’s guardians
• Save your loved ones the heartache of having to pursue litigation to try and get what you feel they deserve

Don’t leave it to chance: protect your family and make a Will today.

If you’re getting divorced, or going through a separation, you really should be thinking about making a will (or remaking your existing will). Here are four good reasons why anyone going through separation and divorce should be thinking about making a will.

1. Divorce and the ex-factor.

Making a will allows you to say who you wish to support and protect with your life’s savings. If you have already made a will, your divorce does not alter the legal standing of your will. It may be that you feel that your ex is well cared for in their new relationship. If this is the case, you should be making a will that doesn’t include them. You may, however, wish to provide for children that you cared for or parented in this relationship.

Making a will allows you to say exactly who you wish to inherit, and how much you wish to give them.

You could be making a will right now at a great price with Lawpack.

Read our 8 reasons why you should be making a will today.
Download your will now!

2. Cohabitation and a new start?

More and more of the population are choosing to not get married again after a divorce. Many couples are now living together as unmarried couples. This is often the case after one has been through a separation or divorce. But what many of us don’t realise is that the safety net that the law provides married couples is not automatically provided to unmarried couples. There is no such thing as a “common-law husband” or a “common-law wife”.

This is the cohabitation wake-up call: your partner could end up with nothing unless you make a will now. Unmarried partners, and the children they care for, will not necessarily inherit from each other, unless there is a will.

If you’re cohabiting with your new partner (i.e. you’re not married), you must make a will to ensure that they are protected.

Making a will can also be used to choose your children’s guardian and to ensure that the person you wish to look after them is nominated.

Find out more about making a cohabitation agreement.
Or do the right thing and make your will now.

3. Making a Will and getting married?

If you’re thinking of getting married again after your divorce, you should be aware that a marriage effectively annuls any existing will you have made.

After a marriage any existing will is considered legally invalid.

Sorry, but making a will must be one more thing you need on your Wedding Planner!

Plan your wedding with Lawpack’s DIY Wedding Planner Kit: planning your wedding made easy!
But make sure you make your will now.

4. We all need a will! Make your will today!

We work hard all of our lives to ensure that we can protect and provide for ourselves and those we love. But a shocking 64% of us haven’t taken the simple steps involved in making a will to ensure that our money and possessions are distributed as we would wish. It really is so simple to make a will and you can do it from the comfort of your own home without the expense of a solicitor.

If you’re going through a divorce, you need to be making a will to replace your previous one. If you haven’t made a will yet, now is the time to start.

A recent survey by the National Consumer Council has shown that only 17 per cent of people living together unmarried in the UK have written a Will. This is despite warnings to cohabitants that they are not protected under the inheritance rules and their partners will not automatically inherit their partner’s estate should they pass away.

The ‘rules of intestacy’, which outline how a person’s estate will be distributed should someone die without a Will, were simplified in 2014 with the introduction of the Inheritance and Trustees Powers Act 2014. The Act reinforced the position of married couples and civil partners, but did nothing to address the position of cohabitants.

Unmarried couples are still in a vulnerable position as when a cohabitant dies without a Will, under the intestacy rules, it’s unlikely that their partner will inherit their estate and this is especially the case if the couple has children, as the children will take priority.

Find out more about the Act in our article ‘Cohabitees still get nothing under new inheritance reforms’.

Possible intestacy law reforms in the future

Despite the Office for National Statistics finding that cohabiting families are the “fastest growing family type in the UK”, there are no definite plans by the Ministry of Justice to reform the intestacy laws in order to protect unmarried couples.

However, the government is currently pushing for the Cohabitation Rights Bill, which had its second reading on 12 December 2014. Lady Baroness Deech is campaigning strongly for cohabitation and marriage rights to be mirrored as “couples may be trying out a relationship and we should not impose the penalties of a failed marriage”. But the government has faced criticism from pro-marriage campaigners.

Whatever the future of the Bill, it’s imperative that cohabitants protect themselves by writing a Will, and it doesn’t have to be expensive and difficult. With Lawpack you can write a Will from as little as £9.99, with our DIY Will Kit. Or we have teamed up with Irwin Mitchell solicitors to provide our Online Will Service, which can help you write your own Will easily online.

Andrew Capon, Law Society Presidents has said, “don’t make this mess, your legacy”. So protect yourself today.

Thinking about what will happen to your estate once you die might not be something that is at the front of everybody’s mind. In fact, until you reach your 60s or 70s, it could easily be an issue that escapes your attention entirely.

But it simply doesn’t pay to avoid the subject of a Will, as it is a crucial document that will see your wealth distributed in exactly the way you want once you have passed away.

Put it like this, you wouldn’t want somebody to get their hands on your money, property or assets while you are alive without your permission, so why should you in death?

Worryingly, more than 29.5 million Britons do not have a Will and findings by Unbiased.co.uk published by the Express showed that one in five will leave a minimum of £10,000 in savings when they die. This means that there is plenty of cash that could easily end up in the wrong hands because you have not bothered to make a Will.

In all likelihood, you will want your children or close family members to benefit from your estate. This could be enough to make their own retirement a little more comfortable, but you risk them missing out if you do not act.

Of those people who do not have a Will, one in ten have never even considered the importance of having one, while another ten per cent believe their assets will end up with the right people automatically. Simply put, this is not always the case, as your estate could be distributed by the law of intestacy, and your wealth could be at risk if you do not write a Will.

The good news is that if you feel you are ready to make a Will, there are plenty of options at your disposal.

For instance, the cheapest option is to make a DIY Will. This will allow you to explain exactly what you are leaving and to whom in an easy-to-understand manner. It is well worth the minimal investment, should you not be prepared to make a more substantial effort to create a Will.

Another alternative is to visit a solicitor and ask them to draw up a Will for you. Of course, you must be wary that solicitors do not come cheap and you could end up with a hefty bill, but we still think it is a worthwhile option if you do not back yourself to form a DIY Will.

 

Preparing to be the executor of an estate can be an intimidating and mammoth task and those unprepared can easily find themselves daunted.

Lawpack’s Executor’s Guide is an essential must-have that will take you through the most important aspects of the job. Additionally, we’ve provided the top-seven tips to keep in mind as you fulfil your role as executor.

1. Make sure that you file the documents away in an orderly fashion

Ensuring that the documents are ready to hand and exactly where you need them, when you need them is the first and perhaps most important step. To the uninitiated and those without the help of Lawpack’s solicitor approved Executor’s Guide, this is an easily overlooked measure.

Come to an understanding with the testator (the person whose estate you will be handling) that they store the paperwork, such as the original will, any deeds, partnership documents and insurance policies, in an agreed place.

This location can be almost anywhere, such as the testator’s home, a lock box or a safe, so long as it is secure and unlikely to be moved.

Additionally, copies can be held directly by you or filed at the offices of lawyers.

2. Ensure that key pieces of property and accounts are jointly available

If the testator has a spouse or romantic partner, he or she will benefit from a smooth flow of assets if all bank accounts, insurance policies and properties are made jointly accessible.

The Executor’s Guide can help you through this process and once complete, it will greatly reduce the size of the estate you will have to manage once the testator has died.

It is also a good idea to make sure that relevant accounts are linked for any possible business partners the testator has.

A list of people and accounts should be drawn up with the testator and revised if he or she gets divorced, remarried or outlives a child.

3. Make a record of preferences

As difficult as it may be, try to speak with the testator about any funeral requirements they may have.

Will it be a religious ceremony or a humanist service? Does the testator want to be buried or cremated?

These are tough questions that could become points of argument after the individual passes away, which is why it is important to have it all in writing.

4. Assign personal effects to specific recipients

It is important to work with the testator to decide how sentimental items of little monetary worth should be distributed.

These items are often overlooked and can be difficult to sort out after the testator’s death.

With emotions running high, sentimental items can be a source of conflict among the bereaved. Ensuring that recipients are clearly named can save a lot of aggravation and time.

Lawpack’s executor’s guide can provide information on dealing with assets, including the deceased’s property, gifts and legacies.

5. Arrange yearly reviews and amend documents

A lot can happen in a year, so keeping all arrangements and agreements up to date is vital to maintain a clear sense of how the assets should be distributed.

Following the advice set out in the Executor’s Guide, people can update vital information concerning inheritance, funeral wishes and business obligations.

You can also use computers or even smartphones to keep track of any possessions which have changed hands, been stolen or damaged and amend the documents as needed.

6. Keep track of the testator’s online identity

Increasingly we live our lives in the digital space, so when someone dies the executor needs to have access to a variety of accounts the person may have held online.

These could be online banking sites, such as Paypal, auction sites like eBay and social networking pages like Facebook and Twitter.

Even email accounts will need to be accessed and respectfully handled by the executor.

7. Consult professionals

Lawpack’s Executor’s Guide has been written by professionals to help you through each step of becoming and fulfilling the role of an executor.

However, even the best guide and all the preparation in the world cannot beat speaking with a professional solicitor and accountant.

Additionally, you should make contact with the testator’s hired professionals so that they know who to make arrangements with once their client has passed away.  

Why do I need to make a Will?

If you die without making a Will (legally called dying ‘intestate’) your estate will pass in accordance with intestacy law and this might not be according to your wishes.

Intestacy laws cover your property, your personal possessions and savings. Many people believe that their spouse and children will automatically inherit everything, whether they have made a Will or not. But this is not always the case and the best way to protect your family is to write a Will.

Find out more on how the intestacy rules work and how they may affect you with our article ‘Why you should make a will: the intestacy laws explained‘.

Is an Online Will legal? Do you not have to see a solicitor in person to make a proper Will?

Our Online Will software has been written by leading UK law firm Irwin Mitchell so you can be assured that your Will has been worded correctly. Plus, once you’ve made an Online Will, Irwin Mitchell’s team of legal professionals will review the Will for you to make sure that no mistakes have been made and that it suits your needs.

So you don’t need to worry, plus you have the advantage of saving the costs of seeing a solicitor by getting a fixed price and avoiding the hassle of going to a solicitor’s office.

For your Will to be legally binding you must sign and witness it correctly. Once the Will has been reviewed it will be professionally bound and posted to you, accompanied by a guide to witnessing and signing your Will so that you can sign the Will properly.

What is the difference between the Online Will and DIY Will Kit?

Both Wills are legal documents as long as they are completed, signed and witnessed correctly.

The DIY Will is a good option for people who have the time to read the guidance manual and to complete the forms themselves.

If you want the convenience of the Will being made for you and being guided through the process, then the Online Will is for you. It’s a quick and easy process, and you have the advantage of the Will being checked for you by a legal professional so that you will avoid any mistakes being made.

Can’t the children just sort out my estate after I’ve gone?

Sadly, many families are torn apart over disputes caused by the problems of a relative not making a Will, as the family has to imagine what the relative’s wishes would have been.

It’s so much easier for your children, at a time that is incredibly emotionally difficult for them anyway, for you to make the administrative side of your death as easy as possible. By telling them your wishes in advance, your children will have the certainty of following your wishes and take away the doubts of knowing what you have wanted.

I don’t have anything of worth so what’s the point?

Making a Will is not just about assets and money. It’s about giving your relatives or dependants peace of mind and reducing the stress of bereavement and probate. Dealing with someone’s death, practically and emotionally, is difficult enough without the extra complications of there not being a Will.

How can the Online Will be so much cheaper than using a solicitor? Is it really valid?

A properly executed Online Will is perfectly legal, if witnessed and signed correctly. The Online Will software has been produced by qualified lawyers Irwin Mitchell. The solicitors have created an Online Will to meet the needs of the vast majority of people who only need very straightforward Wills to meet their needs.

What if I my requirements are very complicated?

An Online Will is not suitable for everyone and there may be times when you may need to use the services of a solicitor; for example, if you have property abroad or own a share in a business.

If your needs are more complicated, then our Bespoke Will is for you. Lawyers Irwin Mitchell can write a Will for you that meets your circumstances, all at a fixed price.

If you’re a landlord, you probably think it’s far too morbid to be thinking about writing a Will.

But due to the high value of a landlord’s property investments it’s more important than ever that landlords think about what will happen to their assets after their death.

Why landlords need a Will

If you haven’t thought about writing a Will, then you’re not alone. 7 out of 10 people haven’t made a Will.

Many presume that their property and possessions will automatically pass to their spouse/partner when they die, but if you die without writing a Will (legally termed as ‘dying intestate’), your estate will be distributed according to the law of intestacy and this may not be according to your wishes.

Find out why our outdated intestacy laws mean you should be making a Will now.

When a landlord dies intestate all the landlord’s buy to let properties are divided between their spouse and surviving blood relatives, according to the law of intestacy.

So if you haven’t got round to writing a Will, there’s a chance that your spouse will not receive your estate in total. And if you’re not married and living together with a partner, your partner may not receive anything of your estate as cohabitant partners are not automatically recognised in intestacy law.

Find out how cohabitant partners are dealt with under the law of intestacy.

Should a landlord die suddenly without writing a Will, the administering of the landlord’s estate and buy to let property portfolio can be complicated and may be contested. Sorting out a landlord’s estate after death can be a drawn and painful process for the landlord’s relatives and loved ones.

By writing a Will landlords can legally state who they want to directly receive their assets, including their buy to let properties, following their death and reduce any confusion, conflict and legal costs for their families.

What should be included in a landlord’s will?

Before a landlord writes a will, it’s always a good idea for a landlord to think about what they want included in their will. A landlord should consider the following:

• How much money and what property and possessions a landlord has.
• Who will benefit from the landlord’s Will?
• Who should look after any children under the age of 18?
• Who is going to be appointed as an executor to sort out the landlord’s estate and carry out a landlord’s wishes after their death?

Does a landlord need a solicitor to write a Will?

One in five of us write a Will ourselves. Lawpack provides two ways to write a DIY Will if you want to keep the legal costs down. These are:

1. DIY Last Will & Testament Kit

Lawpack has helped over one million people to write their Wills with our bestselling DIY Will Kit. The Kit includes template Will forms plus an expert guidance manual, written by a solicitor, which guides you through the process of completing and signing your Will form.

2. Online Will Writing Service

If you’re not confident enough to fill in the Will forms yourself, Lawpack has teamed up with Irwin Mitchell solicitors to provide you with a fixed price Online Will Writing Service. Just complete the questionnaire online and the Will form is created for you. Lawyers at Irwin Mitchell will then check the Will to give you peace of mind.

If a landlord’s finances are simple, then there is no reason why they need to employ a solicitor. However, there are occasions when a solicitor may be advisable to write a Will:

• If the landlord’s estate is complicated or the way the landlord wants to pass on their estate is very detailed.
• If the landlord has assets or property outside the UK.
• If the landlord owns a business.
• If the landlord has assets in excess of the inheritance tax threshold.
• If the landlord looks after someone with mental or physical disabilities.

If you think that these circumstances apply to you and you need to consult a solicitor to write a Will, then Lawpack has teamed up with UK law firm Irwin Mitchell to provide you with a Fixed Price Bespoke Will Service. You can get your Will professionally written to take into account all of your detailed circumstances. A solicitor will write you a Will all at a fixed price, so you don’t have to worry about soaring legal fees.

Want to make a Will? Find out which of our Will services is right for you, and whether you need a solicitor, by answering just a few simple questions in our Will Questionnaire.

What happens after a landlord has made a Will

Landlords should remember that once they have written a will, it’s vital that they store it in a safe place and tell their executor, close friend or relative where it is. You can store your Will safely and securely with Lawpack’s Will Storage Service.

Landlords must keep their Will up to date. Landlords should review their Will every five years and make a new Will if any major changes occur; for example, they separate, get married or divorce, have a child or move house.

Find out more on when you should revise your Will.

Writing a will can save those closest to you from the heartache and trouble that is often caused by dying without one.

Yet according to research by the National Consumer Council, more than 6 out of every 10 people in the UK haven’t made a will, and a staggering half of us never do.

Many people believe that if they don’t write a will, all their possessions will automatically go to their husband, wife or partner. But it’s not as simple as that.

Dying without a will means a person’s belongings are subject to a set of fixed rules (called ‘intestacy laws‘. Challenging these can be expensive, and there’s no guarantee that the person’s wishes will be fulfilled.

Making a legally valid Will doesn’t have to be expensive or complicated.

Over one million people have successfully made a legally valid Will with Lawpack. And you can join them today from just £14.99.

• Provide for your loved ones
• Protect your children
• Make special gifts to friends, family or charities

7 reasons why you should write a will today

1. You can control who will inherit your money and property after your death.
2. You decide who is the best person to handle your financial affairs.
3. If you have dependant children, you can name a guardian for them.
4. You can save on inheritance tax.
5. You can express your wishes about funeral arrangements.
6. If you marry or divorce, a will can reflect your changed circumstances.
7. If you’re unmarried with no will, your partner may receive nothing.

Lawpack’s Last Will & Testament DIY Standard Pack

• Only £14.99
• Solicitor approved
• Comprehensive Guidance
• Simple to complete Forms
• Also available as a ‘Download Now’ ePack

Make your Will today with Lawpack from £14.99.