A double Will is a specially tailored Will for couples who are married or in a civil partnership. Essentially a double Will is the simplest way to leave your entire estate to your partner when you pass away. In the event that you both pass away at the same time you will leave your joint estate to the beneficiaries that you outline within the Will, these may be your children, other family members or other causes/individuals you decide upon.
In terms of construct, and the aspects which must be contained within the Will to ensure that it is valid, a double Will does not vary to a single Will.
– A double Will must be signed by both parties, otherwise it is not worth the paper it is written on and it will be completely legally invalid.
– When both parties draft the Will they must be of right mind to do so, mental capacity will be vouched for by your solicitor. If there is any doubt of the ability of either of the parties to understand fully the decisions they are making, the Will won’t be able to be drafted.
– An executor or executors of the Will must be named within it. This could be the remaining spouse in the event one spouse passes away, or a different individual. You must make sure your executor is happy to take on this role.
– Your Will must outline the beneficiaries of your estate by name, if there are any obvious exclusions which could be disputed there must be valid reasons as to why to prevent your wishes being overridden in court by an individual contesting the Will.
– If you estate is to be divided between your children or other individuals you should clearly state exactly how the assets are to be divided up.
– Intriguingly, in the eyes of the law your pets are your property, so if you have any you should specify what is to happen to your pets when you are gone.
– You can ensure you only pay the minimal of Inheritance Tax possible, talk to your solicitor about this.
You must make sure that your Will is regularly updated, particularly if you have children, you get divorced, or anything else particularly significant that could affect your Will occurs. Keeping an up to date Will is a sensible idea as it will make it easiest for your family to organise your affairs when you are no longer with them.
Roskell Davies provide Will writing services in Birmingham. Contact us today if you need legal guidance drafting you double Will. All initial enquiries are completely free and no obligation. Call us on 0800 142 2901 or fill in an online enquiry.