WHY ARE FARE SHARE WILL OFFERING ONLINE WILLS?
We believe everyone should have access to affordable, professional and legally binding Wills, that protect them and their beneficiaries, regardless of their Estate Value. We have been providing expert advice on Wills, Trusts and LPA’S since 2020 and we are now making it even easier for people to access our award-winning expertise in Will creation.
HOW CAN YOU OFFER SUCH GREAT VALUE FOR MONEY WILLS?
We have taken the same great principles of service, quality and expertise that we apply every day when crafting professional Wills for our Clients, and distilled this into a fast, efficient and effective online offer.
ARE ONLINE WILLS LEGAL IN THE UK?
IS HAVING A WILL REALLY THAT IMPORTANT?
CAN I REALLY WRITE A WILL ONLINE WITHOUT A SOLICITOR?
WHAT SHOULD YOU INCLUDE IN YOUR WILL?
When writing your Will, you should explain who should inherit your assets after you die. If you have any particular special wishes or instructions about your funeral arrangements, such as a preference for cremation or burial, as well as naming guardians for your children to make sure they are looked after should you die.
Your Will should also name an executor (or several executors) who will administer the estate and carry out your last wishes. This is a very important role for someone, as a Will is a legally-binding document. We always recommend that you appoint people you know and trust, to make sure your Will is followed as you intended it to be.
WHAT ARE THE REQUIREMENTS TO MAKE A WILL?
You must be ‘of sound mind’ and aged 18 years or over. You must be able to understand what is in your Will and you must be making the Will voluntarily. For a Will to be legally binding, you must sign it after completion in the presence of two witnesses (who cannot benefit from your Will). Your witnesses must add their own signatures.
HOW DO I KNOW THIS IS THE RIGHT TYPE OF WILL FOR MY PERSONAL CIRCUMSTANCES?
You will be guided by the Online Will Writing Service through several critically important questions about your current circumstances and wishes. For most of you, your responses will determine that a Basic Online Will is the right product for you and your needs. If your circumstances and needs indicate that you potentially need a greater level of protection, for example Inheritance Tax mitigation, you own a business, farm or property abroad you will be unable to complete your Will online. You are likely to need a greater level of Estate Planning advice to fully protect your Wealth.
But don’t worry, we are still here to help! The Online Will Writing Software will ensure that you can have a complimentary one to one conversation with an expert Adviser to understand your personal needs.
HOW DOES THE ONLINE WILL WRITING SERVICE WORK?
CAN I CHOOSE TO STORE MY WILL MYSELF?
Yes. However, if you choose not to use our storage service, you will be responsible for the safe and secure storage of your Will. We recommend you inform your Executors of the location of your Will.
WHAT IS AN EXECUTOR AND WHAT DO THEY DO?
At Faresharewill, we ALWAYS recommend that you appoint someone you know and trust to be an Executor. Appointing professionals can lead to costly additional fees for your loved ones. Should they need professional help and advice, they can hire professional advice when they need it.
An Executor is a person or company (such as a bank or firm of solicitors) named in a Will to carry out or execute the wishes of the deceased and distribute the estate upon death. In England and Wales, a person must be at least 18 years old to be an Executor and of sound mind.
The Executor has a list of tasks they are legally obliged to carry out. If at any point you are struggling with the legal or financial implications of being an Executor, Faresharewill Wills & Trusts are always at hand to help, should you need it.
WHAT IS A WITNESS AND WHAT DO THEY DO?
Witnesses are people who see the act of you signing your Will and who add their own signatures and names to the Will to confirm and prove this. It is a legal requirement that your Will needs two adult Witnesses. The Witnesses do not commit themselves to anything by adding their details; they simply witness you signing the Will. You do not need to show or share the contents of your Will with them.
Please note: Witnesses, or their spouses, must not be beneficiaries of the Will, or the Will could be invalidated. We recommend you use friends, work colleagues or even your neighbours to be your Witnesses.
WHAT IS A GUARDIAN AND WHAT DO THEY DO?
If you die leaving children under the age of 18 and there is no other living person who has parental responsibility, you can choose who you would like to be their Guardian in your Will. The Guardian(s) will be responsible for looking after your children as they grow up, having control over their welfare, health and schooling. If you don’t appoint a Guardian, then social services will decide who should raise your children.
HOW WILL MY FUNERAL BE FUNDED?
Typically, your funeral costs would be paid for out of your Estate before any remaining Estate value is shared between your beneficiaries. With a 2019 report by Sun Life highlighting the cost of a funeral now reaching £9,500, this can be a very unpleasant legacy to leave your loved ones. However, you can mitigate this burden by purchasing a Pre-Paid Funeral Plan. This is a service Faresharewill are pleased to be able to offer should you need it.
In some circumstances, you may be entitled to financial help towards funeral costs. Visit Gov.uk for more information.
ARE MY FUNERAL WISHES LEGALLY BINDING?
CAN YOU MAKE CHANGES TO YOUR WILL?
Whether you have used an online Will writing service, a solicitor or a professional Will Writing service, once you have signed your Will and had it witnessed, this document cannot be altered. If you want to update your will, you need to make an official alteration (called a ‘codicil’) or make a new will.