Five things you should include in your will
When you come to write your will, it can be difficult to know where to start and what you should include. However, writing one is essential to make sure your wishes are carried out after your death. Here are five important things you need to consider when it comes to writing your will:
- Money/assets: for many, the main purpose of writing a will is to outline what should happen to their money and assets after they die. When including your money and assets in your will, you need to consider not just what you own now, but also what you may own at the time of your death (known as your estate). Your estate refers to everything you own and may be made up of any property you own in your sole name, your car and savings. It can also include, life insurance policies, pension schemes and shares etc.
- Funeral arrangements: You can also include instructions for your funeral in your will. While these instructions are not legally binding, they can help provide clarity to your family during a difficult time. You may specify whether you wish to be buried or cremated, where you would like your funeral to take place, and any particular arrangements or requests for the ceremony. There are resources online which can help you to put your instructions in writing, such as this guide from Full Circle Funerals.
- Executor of your will: an executor is the person with legal authority to manage a person’s estate after they have died. You can choose anyone you want to be the executor of your will, but the role can involve a lot of work and responsibility. It’s important to choose someone who is likely to survive you and will act in the best interests of your beneficiaries. For example, you could choose a family member, a friend or a professional such as a solicitor.
- Legal guardian for your children: if you have children under the age of 18, you can name who should be their legal guardians in the event of you and their other parent’s death. You should speak to the person or people you would like to be the legal guardian for your children before putting it in your will.
- Name your beneficiaries: when you have valued your estate, you should decide how you want it to be divided. You can name whoever you want as a beneficiary and there’s no limit to how many you choose. You may want to consider your partner or spouse, children, family members, charities or other organisations.
If you would like to write a will or need legal advice, contact our wills and estates team on 033 3344 9609 or email [email protected].
