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Written by Paula Jones Last updated: September 25, 2006
In order to complete your Will you will need to provide the details set out in the Questionnaire which is enclosed with this pack. This will include information on,
Details of everything you own, including property, cars, personal valuables, stocks and shares, bank accounts, insurance policies, any businesses you own, and pensions.
Who do you want to leave these assets to? How do you want to divide your property between your loved ones, friends or charities? Are there any conditions you want to attach to these gifts?
Details of your family and marital status. Are you divorced, remarried or living with a partner? Do you have any children or any other dependants? Anyone who depends on you financially can ask a court to review your will if they feel you have not provided properly for them.
If you have any children that may still be under 18 when you die, you may need to name someone as their legal guardian.
Do you have any particular wishes for your funeral? Do you want to be buried or cremated? Are there any other instructions?
You must also name the people you want to appoint as ‘executors’ of your will ‐ the people who carry out the administration of your will after your death. These could be friends or family members, or a professional such as your solicitor. A good combination would be a friend or family member and a professional. Ideally, you should choose someone who is familiar with financial matters. Make sure you ask your executors whether they are happy to take on this duty as there are long‐term responsibilities involved. It is a good idea to ask someone younger than you are.
Once the will has been drawn up it is not effective until it has been signed. There are several rules affecting the signature process which, if not followed correctly, will make your will invalid. For example, witnesses and their husbands and wives cannot benefit under the will. Wright & Wright have prepared special instructions for you to ensure this is done properly.
Wright & Wright can keep your Will for you using their will safe scheme. If you want the original it is important to keep your will in a safe place and tell your executors or a close friend or relative where it is.
It is likely that your will needs to be updated each and every time you change your job, get married, have children and buy a house. (These are examples only and are not intended to be an exhaustive list).
Find more advice on from our Finance & Legal articles!