If your financial affairs are straight forward, you could use an online will writing service, like Beyond* or Farewill, for around £40 – £100. Wills don’t have to cost an arm and a leg to write up either. For example, donating at least 10% to charity could cut your IHT rate from 40% to 36%. Cut inheritance tax – Plan ahead and you could reduce the IHT on your estate.Protect loved ones – If you are not married or in a civil partnership and haven’t written a will then your current partner is not legally entitled to anything if you die.You can also include provisions for other dependents or pets. Care for any dependents – You can appoint a guardian for young children and make proper financial arrangements for them as they grow up.Your choice – a will removes added distress and confusion for loved ones at a difficult time.There are a number of benefits to writing a legally binding will: It also names the people you want to receive those assets (beneficiaries) and the person responsible for making sure that the instructions in the will are carried out ( executor). Related content: Lasting power of attorney: why it’s important to set one up What is a will?Ī will is a legal document that states what you want to happen to your assets, including your home and possessions, after you die. What happens to your will after divorce?.

How much does it cost to get a will written?.What goes into a will and what doesn’t?.Having an up-to-date legally valid will ensures that your money and possessions are distributed according to your wishes. There is a common misconception that only older people with lots of money or complicated financial affairs need to write a will.

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