A Will is one of the most important legal documents you can put in place. It records what should happen to your Estate when you die, who should deal with your affairs, and who should inherit from you.
Without a valid Will, your Estate may be dealt with under the rules of intestacy. This can mean that the people who inherit are not necessarily the people you would have chosen. It can also create avoidable stress, delay and uncertainty for your family.
Liberty Estate Planning helps individuals, couples and families create clear, properly considered Wills. We have offices in Market Deeping and Bourne and support clients across Peterborough and the surrounding areas.
Why making a Will matters
A Will gives you control over important decisions. It allows you to set out who should benefit from your Estate, who should act as your Executors, and whether any special arrangements should be made for children, vulnerable beneficiaries, property, Trusts or family circumstances.
A Will can help you:
- Decide who should inherit your Estate
- Appoint trusted Executors
- Name guardians for children
- Make gifts to family, friends or charities
- Reduce uncertainty for loved ones
- Plan for blended families or second marriages
- Consider Trusts, property arrangements or Inheritance Tax Planning where needed
A Will should be clear, carefully drafted and suitable for your circumstances. A simple Will may be enough for some people, while others may need more detailed planning.
Who should consider making or updating a Will?
You should consider making a Will if you do not already have one. You should also review your Will when your circumstances change.
This may include:
- Buying a property
- Getting married or entering a civil partnership
- Separating or divorcing
- Having children or grandchildren
- Starting or selling a business
- Receiving an inheritance
- Losing a spouse, partner or family member
- Wanting to appoint different Executors
- Wanting to include or remove a beneficiary
- Considering Trust Planning or asset protection
Even if you already have a Will, it is sensible to review it regularly to make sure it still reflects your wishes.
What does a Will include?
A Will can cover a range of important decisions, including:
- Who should inherit your money, property and possessions
- Who should act as your Executors
- Who should look after children if both parents die
- Whether specific gifts should be made
- Whether a Trust should be included
- What should happen if a beneficiary dies before you
- Funeral wishes, where you choose to include them
Your Will should work alongside your wider Estate Planning. This may include Lasting Powers of Attorney, Trusts, Inheritance Tax Planning and arrangements for storing important documents safely.
Choosing your Executors
Your Executors are responsible for dealing with your Estate after you die. Their role may include gathering information about your assets, paying debts, dealing with tax, applying for Probate where needed, and distributing the Estate to your beneficiaries.
It is important to choose Executors who are trustworthy, capable and willing to take on the responsibility. Some people appoint family members or friends. Others prefer to appoint professional Executors, especially where the Estate is complex or there may be family difficulties.
We can help you think through the options and explain what the role involves.
Wills for couples and families
Many couples choose to make mirror Wills. These are separate Wills that usually contain similar wishes. For example, each person may leave their Estate to the other, then to children or other beneficiaries after both have died.
Mirror Wills can be suitable for many couples, but they are not always enough. Further planning may be needed where there are children from previous relationships, jointly owned property, care fee concerns, business interests or Inheritance Tax considerations.
Where appropriate, we can also explain whether Will Trusts, Property Trusts or other Estate Planning arrangements should be considered.
Will Trusts and more complex planning
Some Wills include Trusts. A Will Trust can be used to manage how assets are held and passed on after death. Trusts may be considered where you want to protect assets for future beneficiaries, provide for a spouse or partner, support vulnerable beneficiaries or manage family circumstances carefully.
Trust Planning is not suitable for everyone, and it should be considered carefully. We can explain the options in plain English and help you understand whether a Trust may be appropriate.
Our Will Writing process
Our process is designed to make each stage clear, from the initial meeting through to drafting, approval and signing.
1. Initial meeting
We start with an initial meeting to understand your circumstances, family position, assets and what you would like your Will to achieve.
2. Terms of Business, advice and recommendations
After the meeting, we send out our Terms of Business, along with our advice and recommendations. This will set out the type of Will or Estate Planning approach we recommend and the next steps involved.
3. Drafting your Will
Once the Terms of Business have been signed, we prepare your draft Will based on the advice and recommendations agreed.
4. Approval and signing
You will have the opportunity to review the draft and ask any questions. Once the Will has been approved, we arrange for it to be signed correctly.
5. Future reviews
It is sensible to review your Will when your circumstances change, such as marriage, divorce, buying property, having children or receiving an inheritance. We can advise when a review may be needed in future.
Your Will is stored securely by Liberty Estate Planning at no additional cost.
How much does a Will cost?
Our price list sets out our current fees for Wills, mirror Wills, Wills with Trust Planning and related Estate Planning services.
A straightforward Will is usually less complex than a Will involving Trusts, Inheritance Tax Planning or asset protection. We will explain the likely cost before work begins, so you can make an informed decision.
Related services
You may also find these services helpful:
- Legally Binding Will – understanding what makes a Will valid
- Will Storage – keeping your Will safe and accessible
- Guardianship – appointing guardians for children
- Executor of Will – understanding the executor’s role
- Trusts – planning for property, family protection or vulnerable beneficiaries
- Lasting Powers of Attorney – appointing trusted people to make decisions if you lose capacity
- Probate – support for Executors after death
Speak to Liberty Estate Planning
Need to make or update your Will?
Contact Liberty Estate Planning to discuss your circumstances and the next steps. We have offices in Market Deeping and Bourne and support clients across Peterborough and the surrounding areas.
Frequently asked questions
The cost of a Will depends on your circumstances and the level of planning required. A simple Will is usually less involved than a Will that includes Trust Planning, Inheritance Tax Planning or asset protection. Liberty Estate Planning provides clear pricing, and our price list sets out current costs for Wills and related services.
If you die without a valid Will, your Estate is usually dealt with under the rules of intestacy. This means the law decides who inherits. The result may not reflect your wishes, particularly if you are unmarried, have children from a previous relationship or want specific people or charities to benefit.
Yes. Many couples make mirror Wills, which are separate Wills containing similar wishes. However, each person still has their own Will, and it is important that both documents reflect each person’s intentions.
You should review your Will after major life changes, such as marriage, divorce, separation, having children, buying property, receiving an inheritance or losing someone named in your Will. It is also sensible to review your Will every few years.
Your Executor should be someone trustworthy, organised and willing to take responsibility for dealing with your Estate. This could be a family member, friend or professional. The role can involve significant responsibility, so it should be considered carefully.
Yes. A Will can name guardians for children if both parents die. This is one of the most important reasons for parents with young children to make a Will.
Not everyone needs a Trust, but it may be useful in some circumstances. Trusts can help where there are children from previous relationships, vulnerable beneficiaries, property considerations or concerns about how assets should be managed after death.
Your Will should be stored somewhere safe and accessible. Your Executors should know where it is kept. If a Will cannot be found after death, this can create serious difficulties for those dealing with the Estate.