Frequently asked questions
Do I really need a Will?
Yes, you really should have one. We know it’s not much fun to talk about what happens after we die but it’s important to make sure your friends and family know what you want to happen to the things you care about after you’re gone.
A Will provides instructions for what you want to happen to your money, possessions and property after you die. You can also use your Will to appoint guardians for your children should you die before they reach the age of 18.
A Will is a legal document and within it you are able to appoint executors whose job it is to ensure your instructions are followed.
What happens if I die without a will?
Not leaving a Will is likely to cause your family additional and unnecessary stress. Over half of the UK’s adult population don’t have a Will. For those people, the law decides on what happens to their estate. This is called dying intestate, and the rules of intestacy determine how your estate will be divided up. This is a fixed set of rules, which might not be suitable for you or in accordance with what you would have wanted.
If you have children, then it is even more important that you create a Will. Although it is unlikely and none of us wants to think about it, over 24,000 children are bereaved of a parent each year in the UK. If both parents were to die and there is no Will in place, then the courts and social services will decide who will be the guardians for your children. This also presents the risk of family arguments, court battles and even the possibility of foster care.
You can complete a Will on our website in under 15 minutes and ensure that you get the opportunity to make the decision, not a court.
Does it take long?
No, not really. You can create a Will in 10 – 15 minutes on William, although you should take your time to think carefully about your wishes. We hold your hand through the entire process with helpful tips and guides.
When you have completed the form, you are presented with a legally binding Will to download and sign to make legal. You are also able to come back and update it as often as you like for free.
How much does it cost?
We charge a flat fee of £50 for a single Will or £75 if you are making a Will for you and your partner (known as a mirrored Will). Solicitors fees can amount to hundreds of pounds.
What goes into a Will?
A Will is made up of the following things:
- Details about who you are, such as your name and date of birth
- Your partner and your relationship (should you be in one)
- Who your children are and who you would like to be their guardian(s)
- Any specific gifts you would like to leave people such as an amount of money or a piece of jewellery
- Who should receive your remaining estate (everything you have left after your gifts)
- Your funeral arrangements
- Who you would like to be the executor of your Will (the people who ensure the wishes in your Will are followed)
How often should I update my Will?
As often as your circumstances change. Lots of people create a Will and then never update it, but families and relationships change all the time. You may have more children, get divorced, have grandchildren or win the lottery and your Will should match your circumstances at all times. With William you can update your Will as often as you, at no additional cost.
Is a Will with William legally binding?
Absolutely. We have been working with Andy Parker from Cornerstone Wills, who has over 15 years experience of Will drafting and estate planning. Andy has been involved at every stage of the development, ensuring that any Will created is of the same high quality you would receive with a solicitor. We also have a long-term commercial arrangement with Cornerstone Wills to ensure that our Wills are and always will be fully legally binding.
Digital Law UK are our legal advisors. They ensure that we are compliant with all UK government legislation with regards to the operations of our business.
What do I do when I have completed my Will?
Once you have created your Will, the first thing you should do is check that everything is correct. When you are happy with it, you should print it off, sign it in the presence of two independent witnesses and then store it somewhere safe.
Who can witness a Will?
Anyone who is over the age of 18 as long as they are not named in the Will as a beneficiary, or married to a beneficiary.
Where should I store my Will?
This is an important point. If you die and nobody can find your Will, then you technically don’t have one. Some people store it at their bank, but they can be difficult to recover when you die and this can delay things.
The two most common ways to store a will are:
1. With a storage service. These tend to cost around £25 a year and ensure that your Will is kept in a secure place.
2. In a home safe. If you choose this option you should ensure that you notify the executors of where this is and how to access it.
Can you explain some of the key terms to me?
Sure, the key things which people do not always understand are:
- Probate: this is the process of applying to deal with the affairs of someone who has died
- Trustee: a trustee is the person or persons who are legally responsible for the assets of a beneficiary until the recipients have reached the age when you want them to receive it
- Guardians: these are the people who are legally responsible for your children until they reach the age of 18
- Executors: these are the people who ensure the wishes within your Will are executed
If you have any further questions which you need help with please feel free to get in touch.