The Complete Guide to Professional Will Drafting: What You Need to Know

Though it’s something we don’t often like to think about, you must consider what will happen to your assets after you have passed. This is especially true if you are a business owner or parent, and it is recommended that you write a will early in life to ensure that all those you love are financially supported after your death and all of your assets are accounted for.

At Brown Turner Ross, we have seen firsthand the consequences of a poorly planned and written will, so we make it clear to all our clients just how important a properly drafted will is.

In this guide, we will outline why having a will is so important and why professional will drafting can help save you and your family from issues later down the road.

What is Will Drafting?

Will drafting is the legal process of creating a written document that outlines how you wish your property, assets, and dependents to be managed or distributed after your death. Drafting a will is essential to ensure that your final wishes are legally protected and your assets are treated as you wished them to be before your passing.

What Does a Will Cover?

Executors

An executor is an individual who is responsible for gathering your assets, paying your debts, and carrying out key instructions outlined in your will. To ensure fair execution and to simplify complex assets, it is not uncommon for individuals to select a solicitor to be the executor of their will, taking away an arduous task and providing legal advice while your family focuses on mourning the loss of a loved one.

Beneficiaries

A beneficiary is the person, people or organisation that you wish to receive the assets, property or money from an estate after you have passed. It is important to clarify who your beneficiaries are and which assets you’d like to leave to them.

Guardianship

If you have a child under 18 or any wards that you’re responsible for, you must clarify in your will who you wish to transfer guardianship to in your will. When you have children, it is important that you draft a will as soon as possible to ensure the security of your child’s future in the case of your passing.

Asset and Debt Management

Executors named in a will are legally required to settle all debts and taxes owed by the deceased using their assets before distributing the inheritance to beneficiaries. Since debts do not vanish at death, failing to clear them beforehand can make the executor personally responsible. Therefore, it is essential to clearly specify any debts you have in your will, ensuring your executors are not held liable for unknown liabilities.

Why Professional Will Drafting Matters

People sometimes draft their own wills, but as an important legal document, we strongly advise against it. Unprofessionally prepared wills may lack legal validity, and your executors might not act according to your wishes.

Here are some reasons why having a will professionally drafted is a good idea.

Complexity Handling

Nobody’s life is straightforward, and as we get older, it can be easy for our lives to become increasingly more complex. For example, if you are someone who owns multiple properties, you have to consider much more around aspects like estate planning than with someone who doesn’t own any property at all. If you have a blended family or complex business interests, a critical, in-depth approach is needed when clearly assigning or dispersing assets to your family.

When you work with a professional who has expertise in will writing, they have likely dealt with complex circumstances before and will make informed decisions that ensure that everyone and all assets that matter to you are accounted for in your will.

Legal Compliance

One of, if not the most important aspect of writing a will is ensuring that your will is completely valid, or it may be declared void or even contested. When you go to a solicitor for a professional will-writing service, you have the peace of mind that your will is fully compliant with any legal requirements that need to be met, and so after you pass, your assets will be distributed without interference.

Tax Efficiency

Visiting a solicitor to draft your will can help reduce estate tax liabilities. Solicitors have expert knowledge of the law and can identify your entitlements, such as spousal exemptions, the Residence Nil-Rate Band, establishing protective trusts, and making tax-efficient charitable donations. This ensures your family avoids unexpected tax bills after your death. Find out more about how we can help with inheritance tax planning.

Preventing Disputes

Unfortunately, after the passing of a family member, it is not uncommon for disputes to occur between family members. Money is, and always will be, a complicated issue, and tensions can arise if someone believes they are not receiving the funds or assets they’re entitled to under a will.

By writing a will yourself, it can be easy to overlook people and assets, but when you work with a solicitor to professionally draft your will, they ensure that all bases are covered and nobody who needs to be in the will is left out, reducing the risk of disputes after you’ve passed. In the event that a dispute does arise, our contentious probate solicitors are on hand to help.

When to Update Your Will

Now you know more about the importance of working with a professional will writer to draft your will. If you have an existing will or don’t have one at all, you may be wondering when the best time to create or update it is.

The best times to create or update your will include:

Marriage or Divorce

If you enter into a marriage and you wish for your spouse to be the main beneficiary of your will, it is important to update your will accordingly. Without a will, if there are no children in the marriage, your spouse is automatically entitled to all your assets. But if you have dependents you want to ensure receive a percentage of the money you leave behind, it is important to clarify this in a valid will.

If you divorce your spouse or civil partner, you may no longer want them to receive any of your estate when you die. It is important that you have this adjusted in your will by a professional will writer to ensure it is set in stone. Our family law solicitors can also support you through the wider legal implications of divorce.

Birth or Adoption of Children

Having children completely changes your life, and with new lives to care for comes new financial responsibilities to prioritise. If you have a child, it’s essential that you update your will to reflect your wishes for their future.

This includes naming a legal guardian should anything happen to you, as well as ensuring any inheritance is protected until they reach an appropriate age. Without a valid, up-to-date will, there is no guarantee your estate will be distributed in the way you intend, which could leave your children in a difficult position.

Significant Asset Changes

Whether you come into a large sum of money, purchase a property, or experience a significant financial loss, any major change to your assets should prompt a review of your will. A will written before these changes may no longer accurately reflect the full extent of your estate, which can lead to complications during the probate process. Keeping your will current ensures your assets are distributed exactly as you intend, with no ambiguity left for those handling your estate.

Business Ownership Changes

If you start, purchase, or sell a business, your will needs to reflect this. Business ownership can significantly impact the value of your estate, and without clear instructions in place, your share of a business could be left in limbo following your death. Whether you want your stake passed on to a co-owner, a family member, or sold entirely, a professional will writer can help you document this clearly and ensure your wishes are legally binding. Our corporate and commercial team can also advise on the wider business implications.

Beneficiary Changes

Relationships change over time, and the people you want to benefit from your estate may shift as a result. A beneficiary may pass away before you, a friendship may break down, or you may simply want to add someone new, such as a grandchild or a charitable cause close to your heart. Reviewing your will regularly ensures it always reflects your current intentions, so nothing is left to chance when the time comes.

Write Your Will With Brown Turner Ross

Through this guide, you should now understand the importance of having a professionally written will and why ensuring the information within your will is accurate and up to date is so important.

At Brown Turner Ross, we provide professional will-writing services to many individuals, and we can help you create a compliant will. Contact us today to discover how we can assist you.