Putting your wishes in writing and protecting the people you love
PUTTING YOUR AFFAIRS IN ORDER: THREE-PART SERIES
You are reading Article 1. Article 1 covers wills; Article 2 explains Lasting Powers of Attorney; and Article 3 brings the planning together for families and executors.
A will is one of the foundations of effective financial planning. It provides a clear legal record of what you want to happen after your death and can make an already difficult time more manageable for the people you leave behind.
What Does a Will Do?
A will allows you to decide who should inherit your assets, who should administer your estate and, where appropriate, who should care for minor children. It can also help you make suitable arrangements for trusts, vulnerable beneficiaries, business interests and more complicated family circumstances.
Without a valid will, your estate is distributed under the intestacy rules. That outcome may not reflect your wishes, particularly if you are part of an unmarried couple, have a blended family, own a business or want to provide for someone whose needs require careful planning.
Why Dying Without a Will Can Cause Difficulties
When there is no valid will, the law determines who inherits and who is entitled to administer the estate. This can lead to uncertainty, delay and additional pressure for the family. It may also mean that someone you expected to benefit does not receive what you intended.
- An unmarried partner may not receive the protection you expected
- Family members may disagree about what you would have wanted
- Administrators must be appointed before the estate can be dealt with
- Young or vulnerable beneficiaries may not be provided for in the way you intended
Business interests, trusts or more complex family arrangements may not be handled as you would have chosen.
What Does a Will Cost?
Professional fees vary according to the firm, location and complexity, but the following figures provide an indicative guide:
- Simple individual will: approximately £150-£350
- Mirror wills for couples: approximately £250-£600
- More complex wills involving trusts or inheritance tax planning: approximately £750-£2,500 or more
Although cost matters, a professionally drafted will is often one of the most cost-effective pieces of planning a family can undertake.
Lower-Cost Options: Will Aid and Free Wills Month
WILL AID
Will Aid runs every November. Participating solicitors waive their usual fee for preparing a basic will and invite clients to make a voluntary charitable donation instead. For Will Aid 2026, the suggested donation is £120 for a basic single will or £200 for a pair of basic mirror wills.
Free Wills Month usually runs in March and October and is available to people aged 55 and over. Participating charities fund simple wills prepared through local solicitors. There is no obligation to leave a gift to charity, although many people choose to do so.
These schemes are generally best suited to straightforward circumstances. Appointments and participating firms are limited, and additional charges may apply if the estate or family position requires more complex advice.
Why a Homemade Will Isn't Necessarily a Bargain
It is possible to buy a will-writing kit from a stationery retailer or use an online template. A homemade will may be legally valid if it is correctly drafted, signed and witnessed, but mistakes can be difficult or impossible to correct after death.
Common problems include:
- Incorrect witnessing
- Ambiguous or inconsistent wording
- Failure to consider trusts
- Unintended inheritance tax consequences
- Poor provision for blended families
- Assets passing contrary to the person’s wishes
- Executors not having the powers needed to administer the estate effectively
The initial saving can therefore be misleading. The legal costs, delays or disputes caused by an unclear or invalid will may be considerably greater than the cost of obtaining professional advice in the first place.
Keep Your Will Under Review
A will should not be written and forgotten. Changes in relationships, family circumstances, property ownership, business interests or financial objectives may mean that the document no longer reflects your intentions. It is also important that your executors know where the original signed will is stored and who to contact for advice.
Next steps for your will
If you would like to review an existing will, consider how your estate planning fits with your wider finances, or identify matters to discuss with a solicitor, Greenstone can help. Just send us an email or give us a call.
Contact us to arrange an initial conversation.
Continue the Series
Next: Lasting Powers of Attorney: Planning for the Unexpected. This follow-on article explains the next practical step in putting your affairs in order and protecting the people who may need to act for you.
Publication note:
Costs and fees are indicative and should be checked immediately before publication. Legal and tax treatment depends on individual circumstances and may change. The articles provide general information and are not legal advice.
Disclaimer:
The Financial Conduct Authority (FCA) does not regulate Wills or Estate Planning.
Approved by Best Practice IFA Group Ltd on 28/10/26
