Video Wills
There has been news coverage recently of ‘video Wills’, whilst these might be an attractive idea to some people, they are not a replacement for a properly prepared written Will.
What is a video Will?
A video Will is a recording which can be used to supplement a person’s written Will. The recording may feature the testator reading his Will aloud and can also be used as an opportunity to explain decisions or to leave a final personal message to friends and family.
In recent years video Wills have become increasingly popular in the US. However, research published earlier this month suggests that 63% of UK consumers would also be interested in making a video Will.
Why do I still need a written Will?
Video Wills are not legally binding under English law and therefore can only be used to supplement a written Will. English law requires that a testator’s wishes must be written and that certain formalities are followed when the document is signed.
If you die without a valid Will the law dictates who receives your estate, the rules are strict and may not reflect your wishes. In particular these rules do not make any provision for unmarried couples.
You may wish to supplement a written Will with a video, or simply a letter setting out your wishes and thoughts at the time of writing your Will, but it is the written Will that is the most important element. The Tax & Succession Planning Team at Wansbroughs can provide you with further information or assist you to make a Will. For further advice or assistance please get in touch with Anna Wensley Stock or your usual contact in the Team.
