Consider writing a will
Updated: 16th Apr, 2024
Author: Charlotte Burton
A will is a legal document that says who inherits your cash and belongings when you die. This includes the home you are about to own, which will probably be your most expensive belonging.
You don’t have to make a will, but making one ensures your things definitely go to the people you intended. It’s particularly important to make a will if you’re buying with a partner you are not married to or in a civil partnership with.
- The courts of law will decide who inherits from you when you die
- Generally, the “rules of intestacy” mean everything is inherited by the person or people closest to you by law. This means your spouse if you are married or in a civil partnership, or your legal children, or your siblings, or your parents if you have none of the above.
- If you have a partner you are not married to or in a civil partnership with, they will not inherit anything from you without a written will. If you’re buying the home together, they will not inherit your part of the home.
- Sometimes things get complicated in court, and the state may end up taking possession of your belongings. It is always clearer to have a written will to avoid this.
- DIY will kit: You can write your own will by buying a DIY will kit online or from a stationery shop. You will need to follow the instructions of the kit very carefully for the will to be valid. Only do this if your will is very simple - e.g. you are leaving money only to a spouse you are married to or in a civil partnership with, or to your biological children.
- Use a will writing service: These are generally lower cost than solicitors, as they are only trained in the law to do with inheritance.
- Use a solicitor: If you’re using a solicitor for your conveyancing, they can also write your will.
- Some charity events, insurance policies or trade unions may offer you a will writing service for free
- DIY will kits are £10-30
- Will writing services are typically £75-250
- Solicitors can cost £150-500 for a simple will
