Why make a will?
During your lifetime you will have
gathered assets and making a Will is the only guaranteed way of
ensuring that your assets are distributed in accordance with your
wishes so that the right people benefit from them. The process
of making a will is not complicated and should cost about £100.
Steps to take in making a Will
First, appoint a professional adviser
- usually a solicitor or bank. Home-made Wills often give rise to
Next, work out how much you have to
leave, including the total sum of your property, money and
possessions, less any outstanding mortgages or loans.
Decide who you want to benefit from
your will. For example, your family, friends and favourite charities
or good causes.
Choose executors to make sure your
wishes are carried out. These can be professional advisers, friends
or family members – or one of each.
Finally, keep your will safe and make
sure your executors know where to find it. Give one copy to your
solicitor or bank.
Keeping your Will up to date
It’s important to review your will at
intervals to ensure it still reflects your wishes and circumstances.
For instance, if you purchase/sell property or get married, or someone
mentioned in your will dies, you may need to change it. Contact your
solicitor for advice.