FAQs

What is a will?
A will is a legal document which tells all your family and friends exactly what you want to happen to your children, money, possessions and home - known collectively as your estate - when you die.

Why should I make a will?
Writing a will is the only way to be certain that your money and belongings will go to the people and charities you care about.
If you don't have a will the Government, via the courts, will split up your estate equally between your relatives, regardless of your relationship with them or the wishes you spoke about when you were alive. A judge will also decide who should take care of your children.

When do I need to make a will?
The simple answer is NOW.
 Everyone should make a will, no matter how large or small your wealth and it should be regularly reviewed and updated in case your circumstances change. For example, in England and Wales, if you marry or re-marry your old will automatically becomes invalid and should be altered to reflect your new circumstances.

I already have a will, do I need to update it?
Your will must be updated when your circumstances change. For example, if you get married, buy a property, have children, become separated from your partner or get divorced.

Is it expensive to make a will?
No, it needn’t be costly to make a will. All our wills come at a fixed price, there are no hidden extras, and can be set up for as little as £100.

Where should I keep my will?
There is no right or wrong place under the Law for a will to be stored. However, it is not a good idea to keep it in a bank safety deposit box because your executors will need to go to court to open it.
It is much better to inform your executors exactly where your will is kept. PWS can store your will for you for a small annual fee.

What is a mirror will?
A mirror will is drawn up, usually for married couples, who want to make almost identical wills. For example, they may want to leave everything to each other and, following both deaths, their children or a named relative or friend.

What is intestacy?
If someone dies without a will, they are said to have died intestate. In such cases the Government, via the courts, will divide up your possessions and property and rule on who should care for your children.

What is an executor?
Executors are the people you appoint to carry out instructions in your will when you are gone. They will collect your assets, pay your debts including any inheritance tax and distribute your wealth in accordance with your wishes.

How many executors can I choose?
The Law only allows for a maximum of four executors to act at the same time.

Can an executor also be a beneficiary?
Yes, provided the will is written in the correct way. Executors and beneficiaries, or the spouses of executors and beneficiaries, however, cannot witness the signing of a will.

What is a Lasting Power of Attorney?
A Lasting Power of Attorney is a legal document that allows you to appoint a friend or relative to make decisions on your behalf in case you are unable to make them for yourself.
For example, if you become mentally incapacitated through an accident or illness, such as a stroke or dementia, that person can make decisions about your health and finances for you.

What is Severance of Tenancy?
Severance of tenancy is the process of changing a joint tenancy, commonly held by married couples and joint owners of a property, into a tenancy in common.

Who can set up a Trust?
Anyone who understands their assets is able to set up a Trust.