Writing a Will is a task that most people know is important. We know that putting a Will in place saves our family and loved ones from a great deal of anxiety and trouble after you have passed away. There is never a situation where not having a Will is a better plan than having one. But you may be wondering how to write a Will without leaving your home, during the COVID-19 pandemic.
A Will is something that never seems to make it to the top of the ToDo list. In fact, most surveys put the number of UK adults without a Will at about 60-65 percent. Of those that do have a Will, many are not kept up-to-date.
But we are now living in very unusual and uncertain times. During the COVID-19 pandemic an increasing number of people are finally getting Will writing off their To Do list. At LegalWills.co.uk we have seen a dramatic surge over the last 8 months in the number of people preparing their Will.
But although COVID-19 has made people more aware of the importance of writing a Will , it has presented it’s own challenges with tiered lockdowns and family bubbles.
But there has been some changes in the law to help people prepare their Will during a pandemic. So the question remains:
Is it possible to write a Will without leaving your home?
At LegalWills.co.uk, one of the most frequent questions we hear is “Do I need a Will?”.
When the answer is “yes”, we then hear the familiar response “But, I don’t own anything?”
If only things were that simple….
In 2014, the average net worth of a British adult was £147,134. Now, depending on the equity built up in the home, if you remove that value from the net worth it still comes in at around £20,000. Therefore, even if you don’t own your own house, there could still be well over £20,000 that makes up a part of your estate after death.
According to the pension giant Aviva, most British middle aged people have typically built up private retirement savings and investments worth £53,793. Now, you might think that these figures don’t apply to you but equity can be found in unexpected sources from ISA’s to insurance plans and even the personal items you own within your house. Continue reading
You may have heard of the term “estate plan”. Perhaps you know it has something to do with your Last Will and Testament. But what exactly is an estate plan and how do you set one up?
In short, an estate plan is a set of documents that allow you to control your health and financial affairs when you are alive, but unable to handle them yourself, and also take care of your financial affairs after you have passed away. There are five classic documents that form a complete estate plan, but two additional documents that we feel, in 2016, that you should add to round out your plan.
They key word here is “plan”. These documents all allow you to describe what will happen if you are unable to take care of things yourself. You name individuals to take on your responsibilities and provide them with clear instructions on what to do. Which means that you can only prepare these documents when you have full mental capacity. You cannot wait until you no longer have capacity. If this ever happens to you, through illness or accident, it is then too late to prepare any of these documents.
Why do I need to pay to create a Will using your service, when I can get a free one downloaded from the internet, or buy a blank Will kit from WHSmith for a couple of pounds.
We get this question a lot, and it is sometimes difficult for people to fully understand the difference between using an online Will writing services like the one at LegalWills.co.uk compared to using a blank Will kit.
To illustrate the difference, we have highlighted just 20 ways in which using a blank Will kit can lead to a disaster. Because, ironically, the simpler the Will kit, the more difficult it is to write a well drafted Will. You may find it interesting that these were culled from an initial list of 45!!
1. You don’t check where the Will kit came from and who created it.
Before you download a free Will kit template, stop and think about who actually prepared the template. Nowadays anybody can set up a professional looking legal website for free using WordPress in about 2 hours. Continue reading
This is a guest post written by Juliette Kay
One of the biggest expenses that you may occur in life is one that you’ll never actually have to pay for—but your family will. It’s your funeral expenses, and the true cost of a funeral may surprise you. Here’s a rough breakdown of what you might expect to pay for various funeral options.
The average funeral, according to the 2014 Sun Life Direct Cost of Dying Report, can cost as much as £3,590. Adding in discretionary funeral costs, and expenses associated with the administration of the deceased’s estate, the final total can rise to more than £8,000. Continue reading