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About Online Wills ServiceAuthor: James Walsh
A will is a legal document stating:
The Law Society of England and Wales states that the cost of making a will is more in Scotland than in England and Wales. Under Scottish law, minors i.e. those under the age of 18, are allowed to make wills. In England and Wales this is prohibited. Reasons for Making a Will: a) People need to specify the beneficiaries of all their liquid and property assets. The estate does not automatically pass onto the spouse in most cases. Sometimes, the estate is inherited by the surviving children or if there are no children, by nephews and nieces. b) In case of the partners not being legally married to each other. Under such circumstance, the estate passes onto children or family relatives. c) In order to specify bequests and gifts d) In order to revoke the terms and conditions of an old will when there is a divorce followed by the remarriage of the partner. Types of Will Making Services: a) Will Pack: This is the handiest way of drafting a ‘simple will’. In other words, the will pack is used when the will to be drafted is straightforward without legal clauses. The will pack advocates a ‘do-it-by-yourself- method. It costs £15 and is available at a stationary or local departmental store. b) Using a Will Writer: This is a common mode of writing and finalising wills. According to the Society of Will Writers, more than 12 percent of people in Wales prefer to use this method. The method involves employing a professional will writer to draft and write the final legal will. In short, the method does away with the solicitor. It is a cheap way of making wills costing between £30-75. c) Solicitor: This is the oldest, formal and traditional method of writing wills. The Law Society of England indicates that more than 32 percent of people prefer a ‘face-to-face’ meeting with a solicitor. d) Online Wills: This method has been gaining prominence in recent times. Many online will making services have sprung up. The reasons for this gradual patronage are :
The Law Society claims that writing wills online is suited to the demands of a fast-paced modern British society. However, it insists that there are some things to be kept in mind when choosing this service:
Different Online Will Services:
(i) The individual is a resident of England or Wales (ii) Is above 18 years (iii) Is able to read, write, understand and speak the national language efficiently (iv) Is able to comprehend the nature and the purpose of the online will service The online will service is competitively priced at £30. It further states various clauses: (i) The service allows editing and drafting changes to an existing will in case of change in the financial status (ii) The existing will is automatically revoked in case of divorce and remarriage (iii) The service allows a revision of the contents of the will following separation (iv) The service allows for legal intervention in case of changes in the taxation laws i.e. changing the clauses to include inheritance and additional tax charges on the estate (v) Making a new will if the individual intends to live abroad. This requires cancellation of the old will and the writing of a new one. The Process:
The will package, prepared by the will service, contains:
The year 2000 saw a rapid rise in the number of online registered wills. According to the British Daily, The Telegraph, most people view making a will with a solicitor a daunting task. More than one-third of the population in England make use of the online will service. The one drawback of this service is that it can only be used by those who have Internet access. James Walsh is a freelance writer and copy editor. It is never too early to write a Will and it is essential that you keep it updated if your life circumstances change, for more information see http://www.lifetime-wills.com |