Will & Testament - Beneficiaries

General Chat 💬
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Sorry if this has already been discussed, I’m fairly young and not overly worried about this, but you never know what’s around the corner.

My current savings and portfolio are insignificant (under 10k total), however, I want to ensure that when the worst happens, the ones I care about benefit from my hard work, after all, everything is done for them

Right now, I’m on a rather low income, so I can’t afford to see a solicitor for a full fledged will. However, do Freetrade allow you to name a beneficiary or do banks? I suppose what I’m asking is, is there anyway to cut out a solicitor for the short term, at least until my earnings are so significant it’s better safer than sorry to use one.

Is there some form I can fill in with banks and freetrade alike, to list my beneficiaries should I pass on>

TIA for taking the time to read this and any replies.

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Writing a will doesn’t need to cost money. For example some charities offer free wills in the hope you’ll pledge a gift to them but there’s no obligation to.

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I used these guys

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A friend of mine used Coop Legal Services to get her will. She said it was one of the cheapest.

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With these cheap or free wills services, be wary of who they put as executor’s of the will. They might put themselves and then charge some extortionate 15% fees on the estate for executing your will upon your death.
There may also be yearly charges to store your will with the solicitor. You can store it yourself for free but make sure it’s somewhere safe, protected from potential fire or water risk.

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