Now that you have created a Will, it must be kept in paper form, which will be later included in the paperwork submission to the Probate Registry for your chosen Executor(s) to obtain the Grant of Probate after your passing. Therefore, have you given much consideration for where you intend to store such a valuable document? And just how safe and secure will this place be?
Misplacing a valid Will could have major implications on how your Estate is administered, and potentially changing the Estate beneficiaries away from those you intended. If a valid Will is lost, the Estate becomes Intestate which means the administration may be conducted by the legal next of kin, not the Executor, and the beneficiaries are chosen by who the UK law says is entitled, not who you choose as the beneficiaries in the Will. This can create many problems in the family that can last many years or even have indefinite ramifications.
At Clear Probate, we offer our clients a Will free of charge should you appoint us as the Executor in your Will; providing peace of mind your Estate will be administered by a qualified professional. You can opt in for additional services such as ability to update the Will annually and regularly updating the list of your assets and liabilities.
A Will may be legally revoked in certain circumstances, such as if you marry after the Will was created. Therefore, it’s imperative your Will is regularly updated to reflect your changing circumstances.
You can store your will and/or codicils with HMCTS by posting it or taking it to a probate office (registry). There is a one-off charge of £20 to deposit a will or its codicil, payable by cheque or postal order to HM Courts and Tribunals Service. The will, and any codicils you supply, will be kept securely and you, or your dependents after your death, or Executors of the Will (such as Clear Probate Limited) can withdraw it upon request at the relevant time. Once you have sent in or delivered your will, it takes around 2 weeks for it to be lodged and you will then be sent a lodgement certificate.
However, you will need to send any updated Wills to the probate registry costing £20 each time so that the registry holds the latest version. Some companies offer storage services for a fee which can work out quite expensive, so it’s best to be watch out for unsightly costs. Using the Probate registry service is a safe bet.
Should you decide against using the Probate Registry, avoid storing your Will in a bank such as a safety deposit box which is not a good location because no-one can access the box until Probate is granted (if required), which cannot be done correctly without the Will! It could potentially take many months until the Will can be obtained slowing down the process.