The importance of making a will in England and Wales: 2024 update
Making a will is an important aspect of estate planning, ensuring that your assets are distributed according to your wishes after your death. In England and Wales, the significance of having a will cannot be overstated, especially given the evolving legal landscape and recent case law developments.
Why making a will is crucial
1. Clarity and control
A will provides clear instructions on how your estate should be managed and distributed. This helps prevent disputes among beneficiaries and ensures that your assets go to the people and causes you care about most.
2. Protection for loved ones
Without a will, your estate will be distributed according to the rules of intestacy, which may not align with your wishes and involve distant family you may not know. This can particularly affect unmarried partners and stepchildren, who may not automatically inherit under intestacy rules.
3. Guardianship of minor children
A will allows you to appoint guardians for your minor children, ensuring that they are cared for by people you trust if both parents pass away.
4. Tax efficiency
Proper estate planning through a will can help minimise inheritance tax liabilities, ensuring that more of your estate is passed on to your beneficiaries.
Topical will writing matters and case law in 2024
The legal framework for wills in England and Wales is primarily governed by the Wills Act 1837. However, recent case law and proposed reforms are shaping the way wills are interpreted and executed.
Electronic wills
The Law Commission has been exploring the feasibility of electronic wills, which could modernise the will-making process and make it more accessible. This includes considerations for electronic signatures and storage, which could streamline the process and reduce the risk of lost or damaged documents.
Capacity and undue influence
Recent cases have highlighted the importance of ensuring that the testator has the mental capacity to make a will and is not under undue influence. The Law Commission has proposed adopting the definition of capacity from the Mental Capacity Act 2005, which would provide clearer guidelines for assessing a testator’s capacity.
Case law on due execution
The case of Mason and Others v Robinson Solicitors and Others (2019) emphasised the importance of adhering to the formalities of will execution as outlined in the Wills Act 1837. The High Court ruled that even minor deviations from these formalities could render a will invalid, emphasising the need for meticulous compliance with legal requirements.
Predatory marriages
There is growing awareness and concern about predatory marriages, where vulnerable individuals are coerced into marriage to gain access to their estate. The Law Commission is considering reforms to better protect vulnerable testators from such exploitation.
Help from the experts
Making a will is a vital step in ensuring that your wishes are honoured and your loved ones are protected after your death. With ongoing legal reforms and significant case law shaping the landscape, it is more important than ever to seek professional advice when drafting your will. This will help ensure that your will is legally sound and reflects your true intentions.
For personalised guidance, consulting a legal professional can provide peace of mind and ensure that your estate planning is comprehensive and up to date.
If you have any questions or need more detailed information on making a will in England and Wales, please contact us.
