Using An Online Will Template: What You Should Know
Once you’ve made the decision to get your Will sorted out, it can be difficult to know where to start. There are more affordable and accessible options than ever, including websites and companies offering free or cheap online templates. Using a template can be convenient and extremely quick. But are there any draw-backs to some of these basic Will templates?
Read our short guide on online Will templates and other options available to help you get your Will made.
1) Summary in 30 Seconds
- Anyone can make a valid Will as long as they are over 18 years old, mentally competent and follow the necessary legal requirements.
- There are lots of affordable or even free online templates you can use to write your own Will. This can make writing a Will convenient and fast.
- There are some draw-backs to making your own Will, such as the lack of professional oversight or legal advice from a solicitor.
2) Writing Your Will: Should You Use An Online Template?
Just googling the term “will template uk” will bring up hundreds of thousands of results. Some of these will be for websites that offer to guide you through filling out a form for a small fee, while others offer extremely cheap or even free templates you can download and fill in yourself. The sheer volume of options can be overwhelming. It also raises the question, is a quick online Will going to be good enough?
Writing Wills is not a regulated activity, which means it is perfectly possible for you to write your own legally binding Will. If you have a very simple and uncomplicated family and financial situation, an online template might suffice. And in many cases, having even a basic Will is better than no Will at all. Below are the first few pages of what an example Will might look like. Have a read through and familiarize yourself with some of the terms and the instructions contained with it.
Please note: this is an example of a Will. It should not be used as your official Will instrument. Legal Group UK recommends always having your Will drafted by a solicitor, following legal advice.
3) Will Preparation Checklist
While it is possible to make a straight-forward Will yourself or using a template, it’s important to keep in mind the seriousness of creating a legally binding document. A Will has a significant effect on the future of your family members and anyone else contained in the Will. Additionally, if something is wrong or an error or omission is found, you won’t be around to sort it out yourself. Such a situation could involve a lot of stress and expense for your loved one.
For this reason, make sure to take everything into consideration before just writing a quick Will online. Below is our short checklist of things to know and things to do in preparation for writing your Will. This is not a comprehensive list, but it will give you an idea of the kind of things you need to take into account.
4) Using a Solicitor to Write Your Will
- You have children, step-children, or a blended family.
- You have a complicated financial situation, for example, business ownership or diverse investments
- You own property or assets abroad
- You want to make a provision for a vulnerable or disabled person to fund their care
- You want to set up a Trust in your Will
Wills are not “one size fits all” and can be adapted and tailored to your specific needs. With their legal knowledge and detailed information from you, they will take into consideration things that can positively impact your family’s financial future. You will also benefit from their professional oversight, to ensure that all the legal requirements of writing a valid Will are present.
Don’t put off writing your Will – make it one of your goals for 2021.