It’s estimated that 60% of people living in the UK don’t have a legally valid will in place. Meaning their estates are classed as ‘inestate’ which leads to the law deciding who is entitled to what. Posing a threat to your wishes and the people you care about losing out.

Our Private client team have put together a guide highlighting the process, the cost and why you should have a will in place to safe guard your wishes. 

Who should make a Will?

Simply put, everyone! It is strongly advisable for every adult to have a valid Will in place.

What happens without a Will?

In Scotland, if you die without a legally valid Will in place, then you will have no control over who inherits your home, money and possessions. This is called dying ‘intestate’. In these circumstances legal rules called the rights of succession dictate how your property, money and belongings (known collectively as your estate) are distributed after your death – which may not follow what you would have wanted.

Commonly Perceived Barriers to Making a Will

“It is too complex, daunting, and I don’t have the time!”

One of the top comments we hear in practice. So many people put off making a Will because they are daunted by a perceived complex and time-consuming procedure. It becomes a bullet on a to-do list that slips further and further down in busy lives. When actually, the process is mostly straightforward and relatively quick in most cases (“Well that was easier than I thought, I am so relieved I now have peace of mind!” is also a top comment heard in practice!).

Making a Will through Andersonbain can be arranged to suit you – whether that be entirely remotely (no need to carve out time in a busy schedule for an office appointment in the city centre); or a face-to-face meeting in the office; or a home visit where mobility constraints may be a concern. We are entirely flexible to work with what is most convenient and appealing to you.

“I don’t need a Will – everything will go to my partner/spouse/children anyway.”

Not necessarily. The succession rules – which originally date back to 1964 and only recently partly amended – don’t always accommodate for dynamic modern family relationships, ‘blended families’, and they don’t recognise unmarried partners. Some common considerations and misconceptions are: –

Prior Rights

In Scotland, a surviving spouse or civil partner is entitled to claim a certain amount under Prior Rights (a dwelling house in which the surviving spouse or civil partner lived up to the value of £473,000; furniture and furnishings in that dwelling house up to a maximum total value of £29,000; and a payment of a cash sum of £50,000 if the deceased also had children or £89,000 if the deceased did not). Spouses and children can then claim their Legal Rights (one third share for the spouse and a one third share for the children between them of the moveable estate which is left after the satisfaction of the above Prior Rights).

As many estates are likely to fall short of the Prior Rights limits, not having a Will could prove disastrous for your children if your spouse is not their parent.

Cohabitees

If you’re not married or in a civil partnership, your partner won’t automatically inherit your estate. This applies even if you’re living together or have been together for a long time. It’s a common misconception that cohabiting couples have similar rights to married couples on death. Although there are some rights in place for a cohabitant in Scotland, their succession rights are in fact very limited. A cohabitant’s claim can only be brought on intestacy (where there is no Will) and within a limited time frame. Conversely, a spouse may make a claim for legal rights regardless of whether there is a Will or not, and the claim subsists for twenty years after the death.

Jointly Owned Property

It is a common misconception that jointly owned property will pass automatically to the survivor. This is not true, unless there is a ‘survivorship clause’ in the title deed. This can lead to interesting situations years down the line where the second joint owner dies and it is discovered that one half of the house/flat still rests with the estate of the first deceased. Extra care and checks need to be taken when you are making a Will and including instructions about jointly owned property. A survivorship clause will override a Will.

Administrative Costs and Time

Importantly, many people do not realise that without a Will your family members will require to apply to the local Court to have an Executor appointed to administer your estate, and a special insurance product called a Bond of Caution put in place. This adds an extra layer of time and cost to your estate.

How a Will can help

By putting a Will in place, you can choose who to appoint as your Executor(s) – the person(s) you trust to handle the administration and distribution of your estate – and you can state exactly what should happen to everything you own in the event of your death.

You can divide your estate in any way that you wish, leaving gifts of specific items, specific amounts of money, or a percentage of your overall estate. There are few constraints, other than that you cannot disinherit a child or spouse from their Legal Rights – which are bearing in mind only claimable against your moveable estate (ie, not houses/flats).

If you have children under the age of 16 then you can also appoint guardians in your Will, so that you know they’ll be looked after by people you trust in the event of your death.

If your personal circumstances change, it’s important that you make or change your existing Will – for example, you might need to change your Will if you have children; get married or become civil partners; get divorced; dissolve your civil partnership or separate; or inherit property or money. It is important to regularly review your Will.

Do you need to use a solicitor?

It’s best to use a solicitor to make sure your Will is legally valid and there are clear instructions for your Executors. If you write the Will yourself, it’s easy to make mistakes that can cause complex problems after your death. Sorting out misunderstandings and disputes can lead to messy and expensive court proceedings. Sadly, this is seen all too often. Making a Will with a solicitor is a worthwhile investment for peace of mind. Andersonbain will hold your Will made through us in our strongroom for safekeeping at no extra charge, so you know it is safe and protected.

Can a Will be altered post death?

It is not possible for your Will itself to be altered post death, but it is possible for beneficiaries of your Will to change the division of assets. This is done by a formal process called either a Deed of Family Arrangement or a Deed of Variation and all beneficiaries must agree to this.

Cost

Our fee quotation for a simple individual Will is £190 plus VAT.

For couples instructing mirrored Wills (i.e., the Wills mirror each other with the same provisions) this is restricted to a total of £300 plus VAT for both.

These quotations apply to simple, straightforward Wills only. Should there be any complexity at all (such as, for example, charitable legacies, specific legacies, lengthy beneficiary clauses, or advice requiring to be given over and above the ordinary), then our fee would increase accordingly in line with the time involved – but we would advise you of that as soon as it became apparent were that to be the case.

If you’re looking to take care of your future, pop in for a chat or leave your details here and we’ll do the rest!