What are the different types of will?
What are the different types of will in England and Wales?
A will is a legal document that tells people what you want to happen to your money, property, and possessions after you pass away. There are different types of wills available in England and Wales, depending on your individual circumstances.
Single will
A single will is the most common type of will. It is a document that is written by one person and only affects their own property and possessions. If you are not in a relationship, or have different wishes to your partner (for example, due to children from a pervious relationship) then this is usually the best option for you.
Mirror wills
Mirror wills are two wills that are written by two people who are married or in a civil partnership. The wills are the same, except for the names of the beneficiaries. A mirror will is a good option for couples who have the same wishes for their assets and estates. It is also a good option for couples who want to make sure that their wills are consistent with each other.
Trust will
A trust will is a document that sets up a trust. A trust is a legal arrangement that allows you to control how your property is managed after you die. A trust will is a more complex document than a normal will, and it is more expensive to create. However, it can offer a number of advantages that a normal will cannot. For example, a trust will can help you to protect your beneficiaries interests and may also help you to reduce your inheritance tax liability.
Statutory will
A statutory will is a will that is made by someone who is unable to make a regular will. For example, someone who is blind may make a statutory will.
Which type of will is right for me?
The best type of will for you will depend on your individual circumstances. If you are married or in a civil partnership, you may want to consider making mirror wills. If you have children, you may want to set up a trust to protect their inheritance. If you have a complex estate, you may want to speak to a solicitor to get advice on the best type of will for you.
It is important to remember that a will is a legal document. It is important to do your research and use a professional will writing service like Will Easy if you are making a will, to make sure that it is valid and that it reflects your wishes.
