How to make a will

It is important not to delay thinking about what will happen when you die, so that you can properly plan what will happen to your assets. It is important that you make a will so that your assets go to the people that you want them to go to and are not just distributed in accordance with the law. If you need advice on how to make a will, it is important that you contact a specialist solicitor, to ensure that it is properly executed.

When you contact a solicitor they will not just go through how to make a will with you, they will also advise you on the tax implications of your plans. If your estate is likely to be subject to inheritance tax, as many estates now are, then your solicitor will advise you on how best to distribute your money to minimise the tax that will be paid on your estate. For example, if your estate will be over the threshold set each year by the government and you have plenty of money to live off, you may consider making tax-free lifetime gifts each year. This will mean that when you die, the money you have given within the set threshold each year will not be subject to inheritance tax of 40%.

In order to create a valid will, the person making the will must observe certain requirements set out in the Wills Act 1837. Failure to properly observe the formalities may mean that the will is invalid.

If you would like to obtain legal advice on how to make a will, Contact Law can put you in touch with a local specialist probate solicitor free of charge. So, if you have any questions or would like our help in finding local probate solicitors please call us on 0800 1777 162 or complete the web-form above.