When a Will is being made, certain pitfalls have to be kept in mind. Most of the pitfalls can be very easily avoided. One should never attempt to draft a Will himself or herself. Drafting is a very technical job and it should be down by someone who is an expert in that field. There are very high chances of getting mistakes and in that event the litigation that the beneficiary faces would be extremely expensive. In most of the cases, the litigation cost is also adjusted from the total value of the property. It is the job of the solicitor to draft a Will and he should be given the task of doing it. A solicitor, usually does not charge much to draft a Will and in case any mistake is committed, that can be taken care of at a later stage. Appointment of a solicitor as the executor / executrix of a Will should always be avoided unless extremely essential. At times, when the requirement is such that someone has to take care of how the money entrusted in a trust is being used, it is very essential that a solicitor be made the executor / executrix. When a solicitor is made the executor / executrix to a Will, he /she charges for the same. Banks and other institutions charge a lot in order to be appointed as the executor / executrix of a Will. The charges of the banks and other financial institutions are such that very soon, the whole property will be exhausted. The banks and other financial institutions are also at times slow in taking decisions ending up in huge losses that are drawn out of the property. Even if it is required to appoint a solicitor as the executor, then it is always advisable to appoint the family solicitor as the executor because it is both reasonable as well as efficacious. The selection of the solicitor to be appointed as the executor must be done very carefully.
Will can be safely kept at the Principal Probate Registry in the Strand, London at a very meager fee of £ 1. If the Will is kept in the Principal Probate Registry, then it can be traced easily. Although solicitors usually donot change anything for holding a Will because he is of the opinion that he will get the Probate job later, banks and other financial institutions have a charge for safely keeping a Will. The best thing is to keep the Will in the Principal Probate Registry in the Strand, London and also keep a copy of the same at home for ready referral.
A person who wants his property to be distributed in a specific manner must make a Will or else, after his death, his property will be disbursed in accordance with the Intestacy Rules. Marriage and divorce always affect a Will. Utmost care has to be taken before and after a marriage or a divorce takes place.
