Wills come in a variety of shapes and sizes – each type addressing a different set of circumstances. The kind of Will which you choose to make is going to depend upon what you want to do in your Will, what your own circumstances are and how complex your estate is.
YourWill allows you to draft a number of different types of Will online. However, if your estate and personal circumstances are complicated, or if you simply want help in choosing and creating the right type of Will for you, then you can instruct us to do all of the work for you.
There are two basic types of Will which you can make through YourWill using our online service – a Standard Will and a Discretionary Trust Will. If your circumstances require something more complex than this, or you are unsure about how to proceed, then we will be more than happy to advise you further. Alternatively, use our “Choose the right Will” selector to help you decide which will is most appropriate for you.
A Standard Will is essentially the most straightforward and is the correct choice if you do not need to make provision for someone who may not be able to manage their own property or you do not have to worry about nursing home fees. If these are issues for you, then you need to consider a discretionary trust Will, about which you will find more below.
There are four different online options for a comprehensive Will:
Pairs of Wills, sometimes called Mirror Wills, are intended for those who are either married or in a civil partnership and who want to have identical or very similar Wills. These work out cheaper because the wording of the two Wills is very similar. They can also be used by couples who are not married to each other – but we would recommend that care be taken with this option as there may be provisions which those who co-habit but are not married may need to think about so as to ensure that their estate is disposed of in the best way.
For more information about making your Will go to:
Discretionary trust Wills are suitable for anyone who is married, or in a civil partnership, and who wishes to create a discretionary trust for one of the following reasons:
Discretionary trust Wills can also be used:
For more information regarding the setting up of a discretionary trust Will, either:
There are a number of other types of Will which you could make, but these are not available online and you would need to instruct us separately if you wanted to make one of these. They include:
These are very rarely used today and are probably not the best way in which to deal with an estate.
Essentially, a Joint Will is one which is made by two people but using only one document. The law treats the Will as being two separate Wills and when each of the testators dies, it will be used to dispose of their estate.
As with Joint Wills, Mutual Wills are rarely used today and occur where two or more people each make separate wills which either confer reciprocal benefits on each other or agree to confer benefits on the same beneficiaries.
In most circumstances you will be advised not to make a Mutual Will as they restrict your freedom to deal with your estate in the future and there can be uncertainty as to whether they remain valid by the time of a person’s death – if for example one of the other parties has revoked their own Will or has married causing the Will to be revoked.
In addition to specific types of Wills, there may also be more complex situations which need to be dealt with and which do not come within the ambit of a standard Will. These could include:
If you are in business as either as a sole trader or as a partner then you need to give thought to how any business assets will be dealt with on your death. You may also need to give thought as to making some provision for the continuation of the business if the full value of the estate is to be preserved. It is vital that an appropriate Will is drafted in these circumstances.
For more information see the YourWill section Wills for those in Business;
There are a range of issues which farmers need to consider dealing with in their Wills including ensuring not only that land and the assets of a farm are left in an appropriate manner, but also that the benefit of all tax reliefs, quotas, subsidies and grants are dealt with. Farmers also need to make sure that they plan ahead to make sensible succession arrangements and that the right decisions are made as to other inheritance planning and tax.
For more information see the YourWill section Wills for Farmers.
Many professional people, for example lawyers and accountants, need to ensure that the affairs of their clients are able to continue to be dealt with in the event of their death. Indeed, many professions have rules requiring those who are members to take all appropriate steps to ensure that the interests of clients are not put at risk in such an event
More information concerning this can be found in the YourWill section entitled Wills for Professionals.
If you live with someone but you are not married to them, or not in a civil partnership with them, then you need to make sure that both you, they and your children and step-children are provided for by Will in the event of the death of either of you. Those who do not make a Will may find to their cost that they do not inherit under the rules of intestacy and may be left in the position of needing to make an expensive claim through the Courts.
For more information about the position of co-habitees, go to the YourWill section entitled Wills for Co-habitees.
If you have children or step-children for whom you are responsible, especially ones aged less than 18, then you need to be sure that they will be adequately provided for in the event of your death and that there will be someone to look after them until they are able to do so themselves. You must, therefore, make sure that your Will makes adequate provision by way of gifts and trusts and that a guardian is appointed who will be able to take care of their physical and moral welfare in the event that you are no longer able to do so.
You will find more information concerning this in the YourWill section Wills for Parents.
If you own property in another country then you might find that the Will you make in England and Wales will not adequately deal with that property and you could find that the intestacy laws of the country where it is situated have the effect of passing that property to someone whom you would not have wanted to receive it. It is essential, therefore, that if you do own property in another country that you take appropriate steps to ensure it passes in accordance with your wishes.
For more information about how to deal with property abroad see the YourWill section entitled Wills for Those with Property Abroad.
Click on any of the links below to go to a Factsheet dealing with that particular topic.
Please note that a pdf version of each of these Factsheets can be downloaded from our main Factsheets page.