Free Wills Month Offers Opportunity for Individuals Over 55 to Draft Legal Documents
The annual campaign, running until October 31, partners with solicitors and charities to provide free basic will writing services for eligible individuals.
Individuals aged 55 and over have the opportunity to have a basic will drafted for free during the annual Free Wills Month campaign, which concludes on October 31. This initiative aims to encourage people to address a critical aspect of financial and estate planning.
Having a legally recognized will ensures that a person's assets, savings, investments, property, and possessions are distributed according to their wishes after their death. Without a will, the estate is subject to the 'rules of intestacy,' a legal framework that dictates distribution, which may not align with the deceased's intentions. In some cases, estates can even pass to the Crown if no eligible relatives are found.
A will serves to simplify the process for executors, the individuals responsible for administering the estate. It helps prevent potential disputes, lengthy legal processes, and undue stress for surviving family members.
Getting a Will Written
The Free Wills Month campaign involves approximately 150 charity partners and solicitors across the UK. To participate, individuals or couples over 55 can book an appointment with a participating solicitor through the Free Wills Month website. In cases of mirror wills for couples, at least one partner must meet the age requirement.
While there is no obligation to leave a gift to a participating charity, the campaign hopes that beneficiaries will consider supporting a good cause. Appointments are limited and are offered on a first-come, first-served basis.
Solicitors offer these services for 'simple' wills. If an individual's estate or circumstances are deemed complex by the solicitor, additional fees may apply.
Understanding Intestacy Rules
In the absence of a will, the rules of intestacy in England and Wales outline a specific order of inheritance. Generally, a spouse or civil partner is first in line, followed by children and grandchildren. If these beneficiaries are absent, inheritance may pass to parents, siblings, grandparents, or other blood relatives. Unmarried partners are not automatically included in the intestacy provisions and therefore may not inherit.
For married individuals or civil partners, if the estate is valued below £270,000, the spouse or civil partner inherits everything. For estates exceeding this amount, the spouse or civil partner typically receives personal possessions, the first £270,000, and half of the remaining estate. The other half is divided among the children. If there are no children, the spouse or civil partner inherits the entire estate.
If an individual is single with children, their estate is divided equally among the children. If single with no children, the estate is shared among the next closest blood relatives. In instances where no blood relatives are identified, the estate may revert to the Crown.
Organizing Estate Information
Beyond executing a will, it is crucial to inform executors about the location of important documents and assets. This includes the will itself, property deeds, lists of assets, and any letters of wishes. Having this information readily accessible can significantly ease the administrative burden on executors following a death.
It is also advisable to review and update a will periodically to reflect significant life changes, such as purchasing property, having children, or marriage. This ensures the will remains current and aligned with the individual's wishes and circumstances.