
Could I Do My Own Will?
Transcript below.
Another common question is: could I do my own Will?
The answer is yes, absolutely you can.
There's a number of options. You could go, for example, to WHSmith and buy a Will pack. You can do it online, et cetera. The only things to obviously just to be aware of, and the Citizens Advice Bureau say the same thing, is that if you do need a Simple Will, just a Simple Will, you could look to do that.
However, if it needed to be a little bit more specific to protect against the things that we've talked about, against care home costs, help protect against Inheritance Tax (IHT), ensure that the ex-daughter, the ex son-in-law don't get any of the money, make sure that if your spouse was to remarry, none of your estate goes down that way. Then that's where you would need professional help to make sure the Will was set up properly.
And to give you a quick example, Bugatti Veyron, all right? I'm quite into cars, I don't have one, don't have a Bugatti Veyron, but I understand they're worth about £450,000, which is a significant amount of money.
If you were fortunate to have one, would you take it to your friend down the road who occasionally dabbles with his Ford on a Sunday afternoon to get it checked out, get it maintained?
Of course you wouldn't. Because of the value of it, we'd make sure that we got a professional to look after it properly.
It's the same with people's estates. It's very common these days for people's estates to be worth hundreds of thousands of pounds, £200,000, £400,000, is very much not uncommon. You know, a lot of people got estates far bigger than that.
So if you've got an estate worth that much, the value of that estate, don't you think it might be very important to get it done properly through a professional so that you've got all those protections built into your Will so that your estate ends up exactly where you want it to go and not where somebody else does?