The number of adults in the UK who do not have a will was reported as being 54% in December 2018 according to research by Royal London. There are many reasons why so many people do not arrange to have a will written, the subject of death is unpleasant to approach when speaking to a family member. It is often not in the forefront of our minds and there is also the matter of cost with solicitor fees, estate planning and arranging your financial affairs. The solicitor fees associated with having a will written by a professional solicitor can vary depending on the criteria, however, they are usually in the region of £150 + VAT. However, the effects of dying without a will while having no legal documents in place can cost your family more in time and money. Smart Will have developed a will writing app that makes writing your own will a quick and easy process and means you can save money on legal fees.
With Smart-Will, you get more than just a Will Writing service. Below are some of the key features that come with Smart-Will.
Do I Really Need a Will?
If you own assets such as a house, a business or any savings and you would like to make sure that these are passed on to your next of kin then writing a will is a must. Sadly, premature deaths happen due to accidents, illness or other factors and can leave a lot of families in Limbo whilst they deal with the repercussions of you not having a legally binding will. Writing and keeping you will up to date is important to ensure any dependents (such as children) are looked after in the event of your death. If you are unmarried but have a partner it is important to name your partner in the will or they risk not receiving anything. Similarly, keeping your will up to date if you become divorced is important as you may want to change where your assets end up. You can also specify what happens to pets, any specific funeral requests and, if you own a business, you require executors on your will to authorise payments etc, without which your business may collapse. One you have a Will in Place, it should serve four main functions: Name your executors, distribute your estate, provide for any children under 18 and reduce inheritance tax.
Is My Will Legal?
Our online will writing app helps our customers in preparing a will and ensures that all of the most important aspects of writing a will are referred to. In order for a will to be legally binding in England and Wales a hardcopy must be signed by the person making the will in the presence of two witnesses, who must also sign the document. Once you have signed the document you can send it to us for secure and free storage. We are also delighted to be able to offer free updates to your will via the app so if your situation changes, for whatever reason, you know that you won’t have to incur any further legal costs associated with the changes that would need to be made to your will.