Sara Parascandolo
Solicitor
Phone: 0113 200 7480
Email: Info@averywalters.com
Our Will specialist's guide to Simple Wills
Simple Wills are the most popular type of Will prepared for our clients.
These types of Wills are the most cost effective to prepare and are straightforward to put in place.
See our Will writing process here.
Simple Wills can deal with the following in your Will:
Simple Wills can deal with the following in your Will:
• Appointment of executors and trustees to manage and administer your estate
• Appointment of guardians for minor children or dependents
• Specific gifts or legacies for friends, family, or charities
• Stipulation of funeral wishes
• Confirmation as to who you wish your estate to go to, and in what shares. This may be family, friends, or charities. This is especially important if you wish to benefit a partner who you cohabit with but are not married, or in a civil partnership with.
Why might a Simple Will not be suitable for me?
A Simple Will does not suit all clients, especially in the modern day where family and financial arrangements can be more complicated.
You may wish to consider a more complex Will in the following situations: -
Where you have a ‘blended family’ i.e. second/third marriage.
Simple Wills can become difficult for those on second marriage with children from their first marriage and stepchildren. A Simple Will that leaves the whole estate to the spouse could effectively disinherit the children from the first marriage if careful consideration is not given to relationships and potential issues.
Where any of the proposed beneficiaries have issues with alcoholism/drug addiction or are disabled or in receipt of means tested benefits.
Simple Wills are not suitable in cases where beneficiaries may fritter away funds and harm themselves. In these cases, or in cases of vulnerable or disabled beneficiaries, funds should be placed in trust to protect the estate. In cases where beneficiaries are in receipt of means tested benefits care should be taken to consider the impact of a large sum of money been given to them outright rather than in a trust instrument.
Where your estate is valuable or high net worth, and you want to protect this for future generations.
A Simple Will usually gives funds absolutely and therefore may not be suitable if you are concerned the beneficiaries could spend all of the funds without making provision for future generations. This may be particularly important if you have accumulated family wealth or a family business. Trust instruments and more complex Wills can assist to protect and preserve wealth for years to come.
Where you require protection from third party claims or inheritance tax planning
If you wish to undertake estate planning to protect your estate from third party claims and undertake care home fee planning or inheritance tax mitigation planning, then a Simple Will may not be sufficient to achieve these aims. You may require more complex Will and advice.
Where you have complex assets, assets abroad or live abroad.
Whilst in some cases these issues can be covered by a Simple Will, it may be that more specialist advice is required to ensure domicile and taxation issues are explored and that your Will applicability in separate jurisdictions is understood and dealt with.
When is my Simple Will valid?
For a Will to be legally valid it requires signing and witnessing by two independent witnesses. As part of our Will writing process, we can provide witnesses to your Will at our offices or send you instructions on how to have your Will witnessed.
When we meet to discuss your instructions, your Will is not complete at this stage.
Will Writing Made Easy
At Powell Eddison our team of Harrogate based specialists can provide pragmatic and cost-effective advice about Will writing.
Contact us on 01423 564551 or email us on info@powell-eddison.co.uk to arrange your free initial, no obligation consultation with a specialist.
