Wills are often seen as somewhere to list all of the possessions you have and who you would like to receive them after you die.

There is a lot more to a Will than simply listing everything you own, as there are specific clauses that can be included for different results.

Understanding the full power of a Will can reduce disputes and help your loved ones understand your wishes more easily.

Residuary clauses

Your Will needs to be a living document, updated whenever anything significant happens in your life.

However, you may not always have time to run to the solicitor’s when you acquire a new asset or buy a new property.

A residuary clause can establish provisions for things not explicitly covered in the Will, with many people choosing to group together similar assets or split them based on worth.

You should still aim to update your Will at your earliest convenience, but a residuary clause is a good safety net.

Conditional clauses

When you name people in your Will, there is a sense that they will outlive you.

If this is not the case and you are not able to update your Will between their demise and your own, having conditional clauses can avoid confusion.

It is common for conditional clauses to permit the passing of inheritance to the intended recipients’ direct descendants, but you can reallocate it however you like.

Looking after minors

You should be clear about who is responsible for any minors in your care after you die.

Beyond this, you can also take steps to protect their future and your legacy at the same time.

Trusts can be established to protect a minor’s inheritance, unlocking for them once conditions are met.

These conditions are most often tied to age, but other factors can be included, such as when they graduate from university.

A guardian needs to be appointed to oversee the trust and ensure your wishes are followed.

Anti-contest clauses

There has been a spike in inheritance disputes as many young people see inheritance as their only chance to get on the property ladder.

If you fear that an inheritance dispute may divide your family, you can include anti-context clauses in your Will.

They may not be completely legally enforceable, but they do help to limit the chance of inheritance disputes.

The dangers of DIY Wills

There is a lot to consider when writing a Will and the trend for people doing DIY Wills is deeply concerning.

A DIY Will is unlikely to cover the full spectrum of your circumstances, resulting in a greater risk of inheritance disputes.

At Palmers, our expert team will help you to craft a Will that matches your unique circumstances and reflects your wishes.

We want the people of Essex to feel safe in the knowledge that their estates will be looked after when they are gone.

Rather than risking inheritance disputes from an outdated or DIY Will, you can come to us for compassionate support in getting your Will updated. Get in touch with our team to find out more about writing the perfect Will for you.