More than anyone else, homeowners, parents and grandparents should avoid the pitfalls of not preparing a will.

It’s a shocking statistic, but around 30 million adults in Britain have failed to prepare a will!1

This can have serious consequences, especially if you’re a parent or own a property. Dying without a will means the law will simply run its course, often against your wishes.

Nowadays this can be easily fixed over the phone or online – you can have your will written without even having to move from your seat.

Why Planning Ahead Is Essential

The technical term for passing away with no valid will is ‘dying intestate’. If this happens your money, possessions and property will be divided up according to the law, and your loved ones could stand to inherit nothing.

Additional advice should be sought if yourself or a loved one is facing the possibility of losing mental capacity. In this case it’s critical you get a Lasting Power of Attorney. Without an LPA, your finances and assets could be handed over to an external deputy to manage, which can be difficult for the family and very expensive.

An LPA will ensure that someone you know and trust will be in charge of your finances and assets, and leave you and your family with peace of mind.

“…the cost of having a will drawn up is tiny when you consider the stress it avoids.”

Professional wills are widely available for as little as £110

It’s important to make sure your Will is air-tight and law-abiding, which is why you should get a professional Will drawn up. For couples who would like joint Wills, Mirror Wills are an option. Top will-writers now offer flexible home visits, advice on how to pay less inheritance tax, and prices from as little as £110.

You could alternatively invest in a Living Trust, which might make the exchange of assets quicker and cheaper for your family

What is a Living Trust?

Similar to a Will, a Living Trust protects your assets and distributes them to the people of your choosing. Where it might trump a Will is that a Living Trust is more comprehensive and can by-pass court and legal time and the costs they incur after you pass away.

If you are a parent, or you have specific wishes about where you want your assets to go, getting a professional Will or Living Trust is a must. For the minor cost incurred, it can avoid enormous amounts of worry and hassle, and could also save £1000s in the long run by securing your assets.

And the sooner you plan ahead, the sooner you’ll get peace of mind.

The benefits of planning ahead

  1. Specify exactly who your benefactors are. Rather than letting the law decide, you can divide up your inheritance in whatever way you want.
  2. Nominate your children’s guardians. If you have children under 18 and the worst does happen, you need to plan ahead for their future.
  3. State who your executors are. Pick the person you trust will make sure your will is properly adhered to.
  4. Set out your wishes for specific possessions. Many of us have treasured heirlooms or keepsakes – a well-written will lets you pass it on to the loved one it will mean the most to.
  5. Write a joint will. It’s possible to write a combined will for you and your partner. Not only does this align your wishes with each other, it’s also possible to get excellent discounts.
  6. Take advantage of low prices. A will is a one-off cost that can save £1000s in the long run by securing your assets. With increased competition, many will-writers are now offering up to £40 off for their services.

How Can I Get a Quote?

As with any industry, it pays to shop around for the best deals on will-writing. The Experts in Money online tool lets you compare will writers in your area with just a few quick questions, so you can put yourself in control of your assets today.

  1. Step 1 – Click your location on the map below to get your FREE quote.
  2. Step 2 – Once you answer a few simple questions, compare quotes near you to find the best deal.

Experts in Money’s online quote comparison tool makes it easy to see what you could save on will-writing and to get a quick quote.