HOW COMPLICATED IS IT TO MAKE A WILL?
Making a will can seem like a difficult task, so it’s not surprising that many of us put it off for as long as possible. However, having your will in order is key to ensuring that your belongings – and your loved ones – will always be taken care of. Knowing where to begin with this crucial task can feel tough, but is it really that complicated, and how do you get started? Let’s break it down.
The first steps
When we think about making a will, our mind might jump to the part where we assign our estate to our family and friends. But before we can do this, another stage needs to be taken care of first: calculating the contents and value of our estate.
For many people, this is where things get tricky. After all, most of us have lots of belongings – and it can be hard to put a value on the things we care about most. At this stage, many people choose to hire professional help, to lessen the load, and ensure reliable, accurate calculations.
Professional or DIY?
It can be tempting to cut corners when making a will, and many of us may feel inclined to take on the task of writing one ourselves. The last few years have been difficult financially for many, particularly following the Covid outbreak – and a lot of uncertainty still remains, so it’s easy to see why this might be seen as a serious option for many.
Whether you opt to make a DIY will or have a professional write one for you, there will be things to consider. Many people decide that a DIY will isn’t worth the trouble and potential risk of leaving anything important out by accident. There are many areas of will writing that can be difficult, and ensuring that it’s as legally sound, accurate and watertight as possible by yourself can make the process feel that much more complicated. Choosing to hire a professional will writer or solicitor can save you plenty of time, and means you don’t have to get up to speed with all of the legal jargon.
On the other hand, there are still things to keep in mind if you do seek professional assistance. For example, is your professional well-versed in will writing? It’s crucial that you do plenty of research into your chosen firm or individual, to ensure your estate is handled properly. While it’s unlikely, scams are a dime a dozen and you want to know that your money will always be protected.
What if you plan on leaving money to charity?
Many people choose to leave a portion of their money to charity. And, although this is a noble and rewarding choice, it can add an extra layer of potential complexity to the process. You might decide on including detailed instructions, for example, if there’s a specific aspect of the charity’s work that you want your money to go towards. In this situation, advice is key – it’s worth getting in touch with your charity of choice to make sure you know exactly what to put in your will to ensure they reap the maximum benefits from your donation.
Writing a will might not be a pleasant subject to talk about, but it’s always important to have one in place for the sake of our loved ones. It can be a daunting task at first, but with lots of advice and research, it can be manageable – whether you choose to hire a professional or go it alone.