Frequently Asked Questions

Making a will ensures your estate (belongings, possessions, money and property) gets passed to who you want it to go to. If you die without a will your estate will be distributed as per the Laws of Intestacy and may even go to the government.

No, you don't need a Solicitor to write your Will. It's a common myth that only Solicitors can write a Will. Usually, solicitors charges are much higher than a professional will writer.

A will writer guides you through writing your Last Will and Testament. They take the stress out of writing your will by listening to your wishes and drafting it into a legally binding document. They can also advise on Inheritance tax, Trusts, lasting powers of attorney and other areas you hadn't considered.

Only the original will document is valid. Copies are not legally binding. You should keep your Will in a safe place where it cannot be stolen, damaged or tampered with. You must also advise your executors where your Will is located. At Sovereign Planning, we can store your Will safely and securely.

Yes, you can write your own Will, but we do not recommend it. If you write your own Will, it could save money upfront, but it could end up costing you in the long run. If you make any mistakes or leave it open to interpretation, your final wishes may not be upheld. A significant error could invalidate your Will entirely.

It's recommended to review your Will at least once every five years. There are also other reasons to review your Will, such as having children or grandchildren, getting divorced, coming into a large amount of money, and having one of your beneficiaries or executors die.

Yes, all wills can be challenged, but not all challenges are valid or successful. If your Will is written clearly and gives valid reasons for making those decisions, it is less likely that a challenge will be successful. You can reduce the risk by getting your Will written by a professional Will Writer.

A codicil is a document that is kept alongside your Will to outline any changes. This document acts as a supplement to the original Will. It can be used for minor changes such as appointing a new executor or updating your wishes regarding your funeral. The document needs to be signed and witnessed in the same way as a will.

An Executor is a person responsible for handling your estate as per your wishes. Some of the executor's roles are making a list of assets, settling any debts, dividing the estate as per the will instructions and paying inheritance tax from the estate.

You can pick a friend or family member as your executor. It should be someone you can trust and who is willing to take on the responsibility. You can pick up to four people to share the role, but they all need to be in agreement. You can also select a professional executor if you wish.

Yes. An executor can be a beneficiary but it is important they do not witness the Will. By law, if an executor witnesses the Will, they won't be entitled to receive anything bequeathed in the Will.

A Trust is created within your Will to allow you to protect the property you hope to pass on to your family. Trusts are legal entities that enable someone to benefit from an asset without being the legal owner. You set up the conditions of the trust in your Will, and it activates upon your death.

A Discretionary Trust gives the trustee control of when and where to distribute the trust as outlined by the trust document. For example, if you have a business and 3 children, and you want the child who has interest in the business to inherit it but it's unclear as they are too young, the trustee will hold the money in trust until it becomes clear.

Sideways disinheritance happens when beneficiaries (most often children of a first marriage) do not inherit their intended share of an estate, normally due to their parent/s remarrying. This often occurs when a parent hasn't made a will. To avoid this, you can set up a trust in your will to ensure your children are provided for.

Yes, using a will trust can be an effective way to protect your home, assets or savings against care home fees in the future.