How to write a will

Why is drafting a will important?

Drafting a will is important because it is a legal document that states who will look after your children and what will happen to everything you own – known as your estate – after you die.

There is a legal process called probate that gives authority for people to access your funds, bank accounts and all your possessions and pass them on after you have died.

A will authorises this and speeds up the process. Despite the importance of having a will, 59% of UK adults don’t have one in place, according to a study by the charity Will Aid.

Within a will, you:

• name guardians for your children – the people who would look after them in the event of your death.
• appoint at least one executor, who will be the person who will carry out your wishes set out in your will and make sure the money gets to the right people or places.

The executors, after probate, get a ‘grant of representation’.

A will can also be used for inheritance tax planning and can reduce the bill loved ones pay on anything left to them.

What happens if you die without a will?

If you die without a will in place, it’s called being intestate (technically a man with a will is called a testator and woman with a will is called a testatrix). Current intestacy rules mean if you don’t have a will, you don’t have a say over where your estate goes.

This means it could be automatically given to a spouse, if you were married, or to your children.

If you were unmarried and with no children your estate would probably go to these people in the following order:

1. Your parents
2. Brothers or sisters – siblings
3. If your siblings were dead, their children – your nephews and nieces
4. Half-siblings (then their children)
5. Grandparents
6. Uncles and aunts (then their children – your cousins)
7. Half-uncles and half-aunts (then their children)
8. The Crown (the government gets your entire estate)

You may have a partner, for example, who you live with but are not married to or in a civil partnership with, or you may want the money to go to a charity or a close friend. Without a will, none of this can happen.

If there is no will, your next of kin can apply for a letter of administration and a probate court must appoint someone to deal with your estate. This can take a long time.

What are the essential components of a will?

Every will is different, and unique to the person, but there are some essential components that you will need to include when drafting a will. They include the following:

• The executor of a will is the person who carries out the instructions within it. You will have to say who you would like this to be
• How much your estate will be worth, including everything you own such as property, investments, possessions, savings, pensions, and insurance policies
• The people or places you would like your money or assets to go to, also known as beneficiaries
• Guardians for children under the age of 18. Guardians are the people who will look after your children if you die. You can also name people to look after any pets you have after you die
• Anything specific you would like to happen at your funeral, such as songs or readings

What are the legal requirements for a will to be valid?

A will isn’t valid until certain legal requirements have been met. If you’re drafting a will on your own – with a DIY kit, for example – it’s even more important to make sure you meet these requirements. If you use a solicitor, they should ensure these steps have been met so your will is valid. The legal requirements include:

• A will must be made by someone aged 18 or over, voluntarily
• The person making the will needs to be of sound mind and fully understand the document and its implications
• It must be in writing and signed by the person making the will, with two witnesses who must also sign the document

Steps to drafting a will

There are certain steps to follow when drafting a will, which will apply to most people. If you have a particularly complicated estate, it might be worth hiring a solicitor who can guide you through the process.

Valuing your estate

Valuing your estate means calculating how much everything you own is worth, from property to pensions. Don’t forget savings accounts, current accounts and insurance policies, along with investments if you have them.

Identifying beneficiaries

You will need to identify your beneficiaries – the people who will inherit your estate – and select what they will receive. They can be individuals, such as family members and friends, or organisations such as charities.

When you draft the will, you’ll also need to say where money might go if a named beneficiary dies, such as to their children. The Latin term for this is ‘per stirpes’ which means ‘by roots’ or ‘by branch’.

Identify guardianship needs

Guardianship for children is an important part of a will. It is where you can choose the person, or persons, who would look after your children if you died.

Choosing your executor

You will need to choose an executor to carry out your will. Usually two people are chosen, in case one of them dies. You can choose a friend or relative, or a solicitor or a bank, for example. Before naming them on your will, ask them if they are happy to be your executor.

Executors are in charge of handling your estate and making sure all cash gifts or specific items are given to the right people. They also look after the residue of your estate, which is everything left over after these items are distributed.

Choosing your witnesses

You will need two witnesses when you sign your will. The rules around drafting a will state that a witness, or a married partner of a witness, cannot benefit from the will.

If a beneficiary is chosen to be a witness, for example, the will is still valid but they won’t be able to inherit anything from the will.

Signing your will

You must sign your will for it to be valid, in the presence of the witnesses. If you make any changes to your will, you will have to sign your new will, again with two witnesses present.

Storing your will

You will need to store your will somewhere safe where loved ones can easily find it if needed. This could be in your house or with a solicitor or a bank.

You can also keep it at:

• The family division of the High Court
• A District Registry or a Probate Sub-Registry (you can find a full list of these on the Judiciary UK website).

Who should compose your will?

Who you choose to compose your will affect the process and price you pay.

Writing your will yourself

If you decide to write your will yourself, you will need a will template, which you can find online or buy from a shop, including the Post Office.

This is generally the cheapest option, but you will be fully responsible for the will and if there are any mistakes in it, there is very little that can be done after your death

Professional or legal help

Paying for a solicitor to write your will gives you more protection and the peace of mind that there won’t be any mistakes. Anyone can use one but it’s usually more suited to those with complicated estates, such as a person wanting to set up a trust or trustee in their will.

They can also safely store your will.

Across the UK, Solicitors are regulated by the Solicitors Regulation Authority (SRA) in England and Wales, the Law Society of Scotland and the Law Society of Northern Ireland.

This means if something does go wrong, you can approach the Legal Ombudsman for help.

Costs vary across the country and can start from £150 for a very basic will but can run into the thousands if you have a complicated will.

Will-writing service

A cheaper option than using a solicitor is a will-writing service. These can cost around £100 and are usually online. To start the process, you will be asked details about your estate and your wishes, and a document is created for you. You then print it and sign, with your witnesses present.

There are usually different options to choose from, such as paying a one-off fee or an annual fee, which can include the will being stored and any changes made to it.

These will-writing services are usually unregulated but they may be part of a professional body or organisation, giving you a little more protection than drafting your will on your own.

Charitable assistance

Many charities offer free or low-cost will-writing services, in return for leaving some of your estate to them. There are also annual campaigns where you can benefit from a solicitor writing your will for free (or for a small voluntary charity donation).

These are run through organisations such as Will Aid, where solicitors donate their time to create basic wills.

Check with your bank

You may be able to access a will-writing service through your bank. Some banks offer discounts to existing customers who use their services.

If you do use a bank, always compare the prices with the cost of using a solicitor to make sure you’re not paying too much.

Banks often suggest being an executor of a will they write but you don’t have to choose them, it’s up to you to decide who the executors are.

The pros and cons of each will-writing option

Updating your will

If something changes in your life, such as a marriage breaks down, a child is born or someone dies, you may need to update your will to reflect this.

You can’t change an existing will, so you will need to make a brand new will with the changes included.

If it’s a relatively small change, you could also use what’s called a codicil. A codicil is an extra document you can create with details about the change, such as the name of an extra beneficiary. It needs to be signed and witnessed just like a will and the rest of the will stays exactly as it was if you do this.

Some of the changes that might prompt you to change a will include:

Minor changes

• Leaving a small gift to a charity or another organisation
• A new address
• Increasing a cash gift
• Amending your funeral wishes
• Changing an executor or a guardian

Major changes

• Marriage or divorce
• A new beneficiary
• A death of a beneficiary
• If you’re making more than one change

Making a will: FAQs

What is a codicil?

A codicil is an official document you can create to reflect a minor change to your will. It can be cheaper to use than drafting a will again from scratch but it still needs to be signed by you and witnessed by two other people.

When should you update your will?

You will need to update your will if you have any major life changes, such as if you get married or have a child you would like to add as a beneficiary.

Who should execute your will?

Most people usually choose friends or relatives to execute their will but you can also choose a solicitor, an accountant or a bank.

How much does it cost to write a will?

Costs vary significantly when it comes to will writing. The cheapest option is writing a will yourself, and for this you’ll just need to pay for a will template. The most expensive option is using a solicitor.

Depending on the size or complexity of your estate, this could hundreds or thousands of pounds.

What is inheritance tax?

Inheritance tax (IHT) is charged at a rate of 40% on some estates. If you have an estate which is worth more than £325,000, IHT may be charged on the remaining amount.

However, when it comes to inheritance tax planning, any money or assets left to a spouse will be exempt from IHT.

What else do I need to consider?

If you’re drafting your will, you might want to think about other end-of-life planning you can do at the same time. This includes:

• Setting up power of attorney: so someone can take control of your finances if you become too infirm to manage them yourself
• Your digital legacy: make sure someone can close (and either preserve or delete) your online accounts. Remember to back up and store anything important
• Consider a living will: that tells your family and medical staff whether or not you want certain treatments if you get specific illness or conditions.

Summary: Writing a will

Writing a will is important. If you don’t have one in place you don’t get to say where your estate will go and your loved ones could be kept waiting a long time before they see any of your estate after you die.

This is especially important for people who are not married or in a civil partnership, those with dependants, and anyone thinking about inheritance tax planning.

There are many options when it comes to drafting a will. If you have a relatively simple estate a will-writing service or DIY kit could be tempting. Just remember that with these options you won’t get the same regulatory protection as you would when using a solicitor.

Even though a solicitor may cost you more, there are schemes you can use, such as Will Aid, where you can access their services for less than you would usually pay.