Eight easy steps to making a Will
1 List your assets (everything you own) and their approximate value. This includes property, vehicles, savings accounts, investments etc.
2 Work out your liabilities (what you owe) such as your mortgage, loans and any credit cards. Subtract these from your assets. The remainder is the value of your estate.
3 Decide on your beneficiaries – the people and causes you want to remember – and what you want to leave them (legacies). If you have dependents or pets, state who should care for them and how this will be paid for. When naming a charity, include their registered number (Toybox is 1084243).
4 Make an appointment and see a solicitor. They will help you consider your options and responsibilities.
5 Choose your executors. These are the people who are responsible for making sure your wishes are respected. They can be professionals, such as solicitors or accountants, or trusted relatives, such as your spouse or friends. Your executors can be named as beneficiaries in your Will. Check that they are willing to accept the responsibility.
6 Sign and update your Will in front of two adult witnesses who must not be beneficiaries. They must also sign and date the document and should not leave the room during the process.
7 Keep your Will somewhere safe with other important documents such as your bank account details and your funeral plan. Make sure your executors know where you’ve kept it.
8 Remember to check your Will periodically, to see that it still reflects your wishes.
If you would like to speak to someone about making a Will, please contact us and we can put you in touch with Sarah Steel, our Lifetime Gifts Coordinator and a qualified solicitor, who can offer free advice.