Online Will
Making a will online has grown in popularity over recent years. This may be due to the convenience and cost-effectiveness of using online will writing services over traditional will services. But there are some steps in the process of getting a will where corners shouldn’t be cut, such as getting financial advice first.
What is an online will?
An online will can be a completely legal Last Will and Testament where much of the process is completed online and remotely from the solicitor.
Offline or online – it’s strongly recommended that we all have a will in place to ensure loved ones and beneficiaries know exactly how you would like your estate manages.
How does an online will work?
Online wills are usually created on websites where the website will provide questions to the user. These questions are answered to form the will, which when completed is sent to a qualified solicitor for review.
The solicitor may have generic feedback and then allow the client to make amendments based on the solicitor’s comments. Some services provide limited feedback which may not probe into your exact circumstances, meaning the will may not be as suitable as you initially believe.
Once finalised, the will is sent to the client to be printed and signed by a witness. It should then be kept in a safe place, preferably with the Executor of the Estate’s knowledge.
What to consider before making a will online
Before making a will online you will need to consider the content of your will, such as how you wish finances, property, investments and other possessions to be split between beneficiaries. You’ll also need to who those beneficiaries are, who will be the Executor of the Estate and your funeral preferences. If you have complex finances and asserts, an online will may only be suitable after receiving in-depth financial advice.
Benefits of financial advice before making an online will
It can be beneficial to receive financial advice before making your online will. By speaking to a financial adviser first, you can fully understand:
- The different ways finances and investments can be divided
- The potential complications, including tax obligations
- Other obligations that could be passed to beneficiaries
- Ways to mitigate inheritance tax through financial gifts
- Other rules and strategies that could be relevant to your situation
Taylor James Last Will and Testament services
Taylor James provides financial advice for people considering an online will. Our team can assist help you to make informed decisions and achieve a will that meets your exact expectations.
We’re also on hand to review your online will should you need to make changes after life events.
Call us today for a no obligation chat about planning your financial future.
Call: 0203 859 3320
Email: contact@taylorjamesfs.co.uk
Please note:
- Advice and services in relation to wills and will writing is not provided under the agency of Rosemount Financial Solutions (IFA) Ltd, and Rosemount Financial Solutions (IFA) Ltd accept no responsibility for this aspect of our business.
- The financial conduct authority does not regulate advice and services on estate planning or will writing.
FAQs
You are never too young to consider will and estate planning services from qualified financial advisers. Although, many people turn to these services after major life events, such as having a baby, buying property, reaching a certain age, entering retirement or being diagnosed with a serious illness or medical condition. Taylor James welcomes people of all ages to contact our team and learn more about our reputable services.
Some people will wish to add a Lasting Power of Attorney as part of their will and estate planning strategy. The process of appointing a Lasting Power of Attorney takes up to 20 weeks, provided there are no mistakes within the application. Taylor James advisers will ensure your application is submitted correctly to avoid any delays.
It may be possible for estate beneficiaries to legally mitigate their inheritance tax liability through careful will and estate planning services. This is one of the most commonly cited reasons that people use will and estate planning advice services. However, this is not the only reason to consider will advice and estate planning services. Speak to our team to learn about the other potential benefits.
No, estate planning and tax planning are not regulated by the Financial Conduct Authority. This makes it even more important to get tax and estate planning advice from a qualified and experienced financial adviser. All advisers working at Taylor James are fully accredited and knowledgeable in this area.
FAQs
You are never too young to consider will and estate planning services from qualified financial advisers. Although, many people turn to these services after major life events, such as having a baby, buying property, reaching a certain age, entering retirement or being diagnosed with a serious illness or medical condition. Taylor James welcomes people of all ages to contact our team and learn more about our reputable services.
Some people will wish to add a Lasting Power of Attorney as part of their will and estate planning strategy. The process of appointing a Lasting Power of Attorney takes up to 20 weeks, provided there are no mistakes within the application. Taylor James advisers will ensure your application is submitted correctly to avoid any delays.
It may be possible for estate beneficiaries to legally mitigate their inheritance tax liability through careful will and estate planning services. This is one of the most commonly cited reasons that people use will and estate planning advice services. However, this is not the only reason to consider will advice and estate planning services. Speak to our team to learn about the other potential benefits.
No, estate planning and tax planning are not regulated by the Financial Conduct Authority. This makes it even more important to get tax and estate planning advice from a qualified and experienced financial adviser. All advisers working at Taylor James are fully accredited and knowledgeable in this area.