What Happens After You’ve Written a Will?

Writing a will is an important step to ensure that your wishes are carried out after your death, but the process does not end simply with drafting the document.

Here’s a look at what happens after you’ve written your will.

Witnessing & Signing a Will

After the will has been written, it needs to be signed in the presence of two witnesses, both of whom must be over 18 and should not be beneficiaries or related to beneficiaries in the will.

The witnesses will then sign the will after the testator (person who made the will) has done so, confirming they watched the testator sign in their presence.

Storing a Will

Safekeeping is vital. Losing a will or having it damaged can cause complications.

Many people choose to store their wills with a solicitor or a bank. There are also companies that offer secure storage services specifically for wills.

Always inform a trusted family member or executor where the will is stored.

Review & Update

Circumstances and wishes change over time. It’s recommended to review your will every five years or after a significant life event (like marriage, divorce, birth of a child, or purchase of property).

If changes are minor, a codicil (an addition or amendment) can be added. For major changes, it might be best to write a new will.

Upon Death

The will comes into play after the testator’s death. The executors named in the will are responsible for administering the estate, which includes paying off any debts and distributing assets according to the will.

If no executors are named or they are unable or unwilling to act, the court can appoint administrators.

Probate

Before assets can be distributed, the executors must apply for a ‘grant of probate’. This is a legal document that proves they have the authority to deal with the deceased person’s assets.

If there is no will, the process is slightly different, with family members applying for ‘letters of administration’ instead.

Estate Administration

This is a process where the executor settles the deceased’s debts, pays inheritance tax if applicable, and distributes the assets to the beneficiaries as specified in the will.

It can be a lengthy process, taking months or even years, especially if the estate is large or if disputes arise.

Potential Disputes

Sometimes, beneficiaries or others might challenge a will, especially if they believe they’ve been unfairly treated or if there’s suspicion of undue influence or lack of mental capacity when the will was made.

Disputes can be resolved through mediation or, if necessary, court proceedings.

Writing a will is just the beginning. Ensuring it is properly signed, stored, and updated is equally crucial. Moreover, understanding the steps that come into play after one’s death can help in selecting the right executors and making informed decisions.

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