At Garratts, we know that creating a Will is a deeply personal task. It is crucial for ensuring that your wishes guide the distribution of your legacy. A recent study by Canada Life reveals a startling truth; half of UK adults do not have a valid Will (source: canadalife.co.uk). This can lead to unintended consequences for loved ones.
Why you need a Will
An alarming number of people in the UK do not have a Will. There is a common misconception that assets will automatically go to the “next of kin” upon death. Unfortunately, that is not always the case. If you do not have a valid Will, intestacy laws can determine how your estate is handled and this may not align with your intentions.
Nobody likes to think about making a Will, and it is often a task many put off. If you are married but do not have a Will, your entire estate may not pass to your surviving spouse.
Similarly, if you are not married, your estate will not automatically go to your partner, regardless of how long you have been together. Having children underscores the urgency even further; a Will gives you the power to choose their guardians. The absence of a Will could leave family members or the courts with that tough decision.
Our Approach - Personalised and Proactive
At Garratts, we prioritise understanding your unique circumstances and goals. We take the time to explain the potential risks and offer tailored advice to mitigate those risks. Our legal expertise ensures your Will stands up to scrutiny and minimises the potential for disputes.
We will proactively remind you to review your Will, especially after significant life events like marriage, separation, divorce, or having children. These events can impact the validity of your existing Will.
Your Options and Opportunities with Advanced Estate Planning
For complex situations or specialised goals, we offer advanced estate planning strategies. Discretionary Trust Wills, also called ‘Bloodline’ Trust Wills, offer great control in distributing assets. These can safeguard assets in the event of remarriage, divorce, or bankruptcy proceedings brought against beneficiaries.
Discretionary Trusts also offer additional benefits when planning for long-term care. Our specialist solicitors can guide you through the process and create a bespoke Will that fits your needs.
Frequently Asked Questions
Why do I need a Will?
A Will ensures your assets are distributed according to your wishes and minimises the potential for family disputes. Without a Will, intestacy laws dictate how your estate is handled, which may not align with your intentions.
What if I already have a Will?
It is essential to review your Will regularly, especially following major life events like marriage, divorce, or having children.
How much does it cost to write a Will?
Garratts offers transparent pricing. Our standard single Will starts at £200 plus VAT. There are additional fees for complex instructions. You can find more information on our wills & probate fees page.
Can I write my own Will?
While you can create your own Will, it is highly recommended to seek professional legal advice. This will ensure that your Will is legally sound, preventing any unintended consequences.
Where is my Will stored?
We securely store your Will and can provide certified copies for your records.
How often should I review my Will?
We recommend reviewing your Will every 3-5 years and after any major life events such as:
- Marriage or divorce
- Having children or grandchildren
- Significant changes in your assets or finances
- The death of a beneficiary or executor named in your Will
