Why Every British Landlord Should Secure Their Legacy with a Legal Will Kit

The Importance of a Will for Landlords

Owning rental properties introduces complexities that make having a will not just advisable but essential:

• Asset Distribution: Without a will, your properties may not be allocated as you intend, potentially leading to disputes among heirs.

• Tax Implications: A well-crafted will can help in planning for inheritance tax, potentially reducing the tax burden on your estate.

• Business Continuity: If you manage your properties personally, a will can outline who will take over operations, ensuring tenants are not left in limbo.

Introducing the Legal Will Kit from Your Will & Testament

Priced at just £9.99, the Legal Will Kit is a cost-effective alternative to traditional solicitor services, which can run into hundreds of pounds. This kit is legally binding across England, Scotland, Wales, and Northern Ireland, provided the included instructions are followed correctly.

What's Included:

• Last Will and Testament Form: A comprehensive Will document covering all necessary legal aspects.

• Step-by-Step Instructions: Clear guidance to help you complete your will without legal assistance.

• Completed Example: A sample will to reference, ensuring you understand each section.

• Hardback Envelope: For safe and secure storage of your completed will, best to keep somewhere cool and dry.

Key Features Beneficial to Landlords

The Will kit addresses specific needs that landlords may have:

• Executor Appointment: Designate a trusted individual to manage your estate, ensuring your properties are handled as per your wishes.

• Specific Bequests: Allocate properties or assets to specific beneficiaries, providing clarity and reducing potential disputes.

• Residue Distribution: Outline how the remainder of your estate should be divided after specific bequests.

• No Contest Clause: Discourage legal challenges by stating that anyone who contests the Will forfeits their entire inheritance.

Advantages Over Traditional Legal Services

While solicitors can be valuable for more complex estate plans, not everyone needs—or wants—the hefty bill. Here’s how the Legal Will Kit compares:

Feature Legal Will Kit Solicitor Drafted Will

Cost £9.99 £200–£1000+

Convenience Complete at home Requires appointments

Legal Validity (UK-wide) ✅ Yes ✅ Yes

Customisable to Property Needs ✅ Yes ✅ Yes

Time Required Around an hour Several days to weeks

Updates/Changes Easy, Just buy a new kit Costly, requires appointments

For landlords with straightforward estate plans and property holdings, the Legal Will Kit offers unbeatable value.

Legal Validity Across the UK

The Legal Will Kit is designed to comply with legal requirements throughout the UK:

• England and Wales: Requires the will to be in writing, signed by the testator, and witnessed by two individuals.

• Scotland: Only one witness is needed, and the will must adhere to specific distribution rules, such as providing a portion of the estate to a surviving spouse and children.

• Northern Ireland: Similar requirements to England and Wales, ensuring the will is valid when properly executed.

Advantages Over Traditional Solicitor Services

• Cost-Effective: At £9.99, the kit is significantly cheaper than solicitor fees, which can be several hundred pounds.

• Convenience: Complete your will at your own pace, in the comfort of your home, without scheduling appointments.

• Simplicity: The included instructions and example make the process straightforward, even for those without legal knowledge.

• Flexibility: Easily update your will as your circumstances change, such as acquiring new properties or changes in family structure.

Peace of Mind for You and Your Loved Ones

Creating a will ensures that your estate is managed according to your wishes, providing clarity and reducing stress for your beneficiaries. It also helps prevent potential disputes among heirs, preserving family harmony.

Common Questions from Landlords

Q: What if I have a mortgage on my properties?

A: Your will can outline how those properties should be handled. For instance, assets can be sold to pay off debts, or properties can be transferred with the mortgage (subject to lender approval).

Q: Can I use the will to divide rental income?

A: Yes. You can specify how ongoing rental income should be distributed to heirs or used to support dependents.

Q: What if I own property in a limited company?

A: You can include directions for what should happen to your company shares, though this may also need to be reflected in your shareholder agreement.

Take the Next Step and Write your Will

Protect your property portfolio with Your Will & Testament and provide for your loved ones by securing your Will Kit today and take the first step in safeguarding your legacy.