A Will can be made in several ways such as by purchasing a DIY Will in a store or online, using a financial institution or financial advisor or a Will writing company. However, there are many reasons why you should use a Solicitor to make your Will.
Experience & Expertise
Legal Professionals in a Solicitors firm have years of expertise and training to ensure your Will is drafted to suit your individual wishes and circumstances. They are also required to keep their knowledge up to date. As well as drafting your Will they can also provide you with advice about inheritance tax, discuss whether a trust maybe appropriate to protect a vulnerable beneficiary, help safeguard your assets against claims and complex family situations including children from a previous marriage and go over all aspects of your Will and your circumstances with you.
What about homemade Wills?
Homemade Wills and Wills drawn up by unregulated or non-legal professionals although maybe appealing at first as they can be drawn up for free or cheaply, however, they can be very expensive in the longer term and can cause distress to your loved ones if they have been drawn up incorrectly. There are various rules that need to be correctly followed to ensure a Will is legally valid.
Solicitors are insured and audited
Solicitors firms must have Professional Indemnity Insurance which enables your beneficiaries to make a claim for compensation if your Will has not been written correctly. Solicitors are regulated by the Solicitors Regulation Authority (SRA) and their work is regularly audited. Will writers, other individuals or companies who are not required to have Professional Indemnity Insurance and they may not be monitored by the Legal Ombudsman. If your Will has been prepared by you or any individual or organisation that is not regulated or insured, then if your Will is not prepared correctly your beneficiaries would not have any Professional Indemnity Insurance to rely on.
Solicitors will store your Will for you too!
It is also important that your Will is stored safely where it can be accessed when required. Solicitors are bound by various rules relating to how your Wills are stored. If a Solicitors firm ceases to trade or is brought out by another firm the SRA has a record of where your Will is. Josiah Hincks takes great care to ensure all their clients Wills are safely and securely stored free of charge. Your Wills can be retrieved at no cost.
If you would like to discuss making a Will or updating your existing Will our specialist Wills and Probate Team will be able to assist you.
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