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HALF PRICE Wills at onlinewill.co.uk!

News added Tuesday 12th January 2010

Onlinewill.co.uk offer a simple way to making a Will online in just a matter of minutes. They offer Single Wills for £29.95 and Mirror Wills for £39.95 however howtowriteawill.org visitors can get either Will for just half the price when using the following promotional code. Simply enter the appropriate code prior to checkout.

Promo codes:

For a Single Will enter - HTWAWS
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Visit Online Will to make your Will.

We now have our own blog within the site!

News added Wednesday 25th November 2009

I'll be blogging on a daily basis to keep you up to date with everything regarding Will writing so as well as reading through our articles on the site you can now add your comments to any of my blog posts and even ask questions of your own. Each week i'll be adding a 'Question of the Week' aimed at you the readers, to find out about your Will writing experiences - Visit the blog here.

Latest Will Writing Article...
What does being an executor entail?

Article added Tuesday 18th August 2009

Being appointed as an Executor in a Will brings with it complicated and sometimes onerous duties when someone dies and the work involved often takes months to complete. It is important to do it properly because the Executor or Administrator is ultimately liable for any mistakes made. This is why a lot of people employ solicitors to help them (although there is no requirement to do so).

A Personal Representative or PR is the person who is charged with dealing with all of the assets and possessions of the deceased. These possessions are collectively known as the Estate. The PR has the legal authority and responsibility to administer the estate and is ultimately liable for any mistakes made.

If a Will has been made the PR is known as an Executor; if there is no Will then the PR is known as an Administrator.

Why me?

If you have been asked to be an Executor, you will have been named in the deceased’s Will. Where there is no Will, the position of Administrator is determined in accordance with the Rules of Intestacy (a strict legal order of priority that applies to the next of kin of the deceased).

An Executor can be held personally financially liable for any loss resulting from a breach of their duty - even if the mistake is made in good faith. This will include:

Failure to pay the debts and liabilities of the deceased

Failure to settle the affairs of the deceased relating to: Inheritance Tax, Income Tax and Capital Gains Tax

Loss occasioned by any delay in administering the estate

Failure to settle any claim against the estate

Failure to identify and correctly distribute assets to the beneficiaries (including those initially not known about)

Do I have to accept the job of Executor?

No. So long as you make the decision before any work has started you can decide not to administer the estate of the deceased. An Executor, by renouncing his or her entitlement will not be named on the Grant of Representation. Anyone named as Executor can renounce their role including any professional organisations included in the Will. You can then appoint a solicitor or new professional legal organisation to act on your behalf.

Do I need to use the solicitor who drew up the Will of the deceased?

No. You can appoint anyone who is qualified to administer estates to help you. This could be another solicitor or a Trust Company. Executors are responsible for administering the property and possessions of the deceased in line with their wishes and the law. The Executors are responsible for everything they do, or fail to do, in relation to the estate. This responsibility lasts for the duration of the Administration of the estate and any ongoing Trust created.
The precise duties fall under the following three areas:

Legal

Applying to and attending at Court to apply for Grant of Representation. If there is a Will, this is known as the Grant of Probate, if there isn’t a Will, then this is known as Letters of Administration

Identifying and dealing with any claims against the estate

Settling all debts and liabilities

Correctly distributing the residue of the estate to the beneficiaries

Administration

Notification and correspondence with all relevant organisations in order to gather all assets and pay all debts and charges on the estate

Search for unclaimed or missing assets

Prepare and distribute estate accounts to interested parties

Tax

Completion and submission of Inheritance Tax returns and payment of any Inheritance Tax

Completion of any necessary Income and Capital Gains Tax returns and payment of any outstanding tax

How to write a Will | Welcome

Welcome to howtowriteawill.org your guide to writing a Will and online source of information for everything regarding Will writing.

We have information on this site about every aspect of Will writing including the appointment of executors and guardians, leaving money, specific gifts and distributing your estate/assets. We aim to explain all areas of Will writing and highlight the importance of writing a Will including reasons why you should make a Will.

Be sure to look out for new articles like that posted on the left. We add articles each week covering everything from inheritance tax to probate.
Visit our article archive to view more.

Writing a Will | In Brief

There are four common ways to write a will:

By visiting a solicitor

Purchasing or downloading a DIY Will sold at stores such as WHSmith

By using a Will Drafter

By using an online Will writing service

The latter is becoming increasingly more popular and tends to be a cheaper alternative to visiting a solicitor or Will drafter.

Wills made online can cost as little as £30.00 and you still get the fully legal document that you would if you'd just walked out of a solicitors office.

Begin making a Will online from just £19.95 when using this £10.00 discount code with onlinewill.co.uk. Simply enter the following promotional code prior to checkout:

Promo code = HTWAW09

Will Writing | A shocking statistic

In an article written early this year by Ruth Jackson of moneyweek.com, research has shown that around 70% of the UK population do not have a Will. However Ruth goes on to say that as a single woman, with no children, she doesn't have much use for a Will. What is shocking is the number of people who have dependants and/or large assets that have not yet written a Will. These people face having their families torn apart as a result of no Will being in place when they die.

If you die without a Will, your estate will pass in accordance with the Administration of Estates Act 1925. This covers both property and personal possessions including savings. There is a strict order under the act which means that your spouse and children will not automatically receive everything in your estate. Instead the courts decide upon the distribution of your estate.

>>> Find out how to write a Will.
>>> View a sample Will.
>>> Begin making a Will.

Why should you write a Will?

If you die without a Will that is legally valid and would like to make sure that your assets are inherited or left to certain people, charities, or even to ensure that your pets are taken care of then Will writing is an essential task to complete. If you do not clearly set out your wishes in a Will then no one will know what your wishes may have been?

Even after all of your debts and liabilities have been settled, if you have not written a Will outlining how your remaining net assets should be dealt with, you cannot assume that everything will go, for example, to your current spouse.

If you die without writing a will and without any natural children to inherit your assets, the law currently states that your spouse should receive the first £200,000 of assets, and 50% of whatever is left. This could mean that the other 50% goes to any siblings, parents or even other relatives. Of course you might think that you won’t have more than £200,000 left anyway so why worry as your spouse will automatically get all of that, especially if you have no children. However, writing a Will is important if, for no other reason, that it makes handling your affairs a lot easier. If you are not in a relationship and die without any children or relatives then your entire net estate and remaining possessions will very likely be passed to the crown or simply the government!