UK - Wills and Probate News: July 2018 discussed by The Probate Bureau.

Wills and probate experts in Hertfordshire and Essex, the Probate Bureau, have compiled the latest news, advice and guidance on Wills and Probate from around the world.

Why it pays to know about writing a will

OVER 60 per cent of people don’t have a will, a recent Which survey found, reports Metro.news.

While creating a will can seem daunting, it’s easier than you think. Here’s what you need to know:

¦ You can decide to write a will yourself, or seek professional help from a will-writing service or solicitor, which could cost anywhere from £80 to over £500 for complex cases.

¦ In your will, you can outline who will inherit any property or assets, who will look after your children if both parents die, and who you’d like to act as the executor (the person to carry out your final wishes).

¦ Two witnesses must watch you sign the will, and neither the witness nor their spouse can inherit anything from your estate.

¦ Keep in mind that getting married will automatically invalidate any will you’ve previously made, unless it has a marriage expectation clause.

¦ Your executors will need the original signed copy of your will after you die, so it needs to be stored in safe place. Most solicitors will store your will for no additional cost, but be sure to inform your executors where it is stored.

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Don’t put it off: protect your loved ones with a will

Almost two-thirds of us have not put our affairs in order, which could be storing up trouble for families, reports thetimes.co.uk.

More than 30 million British adults are not covered by a will, and those who do make one generally don’t get around to it until they are 47, according to Which, a consumer group. A survey of 2,078 people found that 61 per cent did not have a will, which would equate to 31 million of the UK population.

Of those who didn’t make a will, 38 per cent said that they had nothing worth inheriting, 20 per cent said that writing a will had not occurred to them, and 16 per cent said that they had been too busy. More people in England had made a will than in other regions — 42 per cent compared with 35 per cent in Wales and 31 per cent in Scotland — with the highest levels in the southwest and the lowest in London.

A will is a formal legal document. While you can write it yourself, it needs to be done properly, signed and verified by two witnesses who also need to sign.

Need Advice?

The Probate Bureau offer financial and inheritance tax advice, Will writing and probate administration services throughout Hertfordshire and Essex. Call a member of our friendly and knowledgeable team today on (freephone) 0808 120 5420.

You can find out more here: www.probatebureau.com/blog/58/wills-and-probate-news:-july-2018/