Posted in Wills
As fewer adults in the UK make wills every year, the number of inheritance disputes increases – often resulting in estate division that the deceased would not have wanted. Rather than leaving your loved ones in this difficult position, take the time to engage with a wills and trusts solicitors to get your wishes formalised. Before you head off to your appointment, take a look at our checklist for making a will so that you can be certain that your wishes will be heard.
Here Is the Important Checklist for Making a Will
Understand What Assets You Have
One of the key things that will making solicitors need you to do before your appointment is to gather information on all of your assets. This covers your savings, properties, investments, and other items you want to include in your estate. You will need to know how much they are all worth so that you can plan the best way to gift them under financial and tax rules.
Know Who Your Beneficiaries Are
Once you have a clear picture of your assets, you will need to decide to who you want to leave it. The most common choice is a spouse followed by children, but there are other considerations to think about. For example, who will benefit if your beneficiaries are no longer alive? Who have you left out, and would they have any rights to raise a dispute? Your solicitor will help you work out the best way to make your wishes known.
Decide Who Will Make Sure Your Wishes Are Met
Choosing an executor for your will can be difficult, but many people ask a spouse, a close relative or a trusted friend. Their job will be to ensure that your wishes are met and that any money held in trust is managed effectively until the trust matures.
If you need to name a guardian for your children, then this also needs to be shared in your will so that there is no confusion over who will take care of them until they reach adulthood. If you have a child over 18 with a disability, you can also share arrangements for their care in your will.
Decide Who Benefits From Your Estate
You will need to decide who is going to benefit from your estate and how you want to divide your assets between each beneficiary. Wills and probate solicitors find that most people choose to divide it equally between their children if they do not have a spouse to leave everything to, but this is entirely up to you. You can also leave any explanations in your will so that your beneficiaries understand why you divided your estate the way you did.
Find Local Solicitors for Wills
When you have made all your decisions and worked out who will benefit from your estate, then you are ready to check out all the will making services in your area. Check out verified recommendations online or ask friends and family who they used. You may be thinking that you can search to find out how to write a simple will at home or be tempted to copy a will you’ve found online, but the best way to make a will is with the support of a legal will solicitors London.
When you think you have found a solicitor, then make sure they have a Society or Trust and Estate Practitioners qualification (STEP). This shows that they have undertaken additional training to support the management of wills and probate and that their knowledge is up to date and accurate so that your will is watertight.
Review Your Will
Once your will have been completed, you may think that there is nothing left to do, but it is important to speak to the people that you have named and tell them your wishes so that no one is left feeling shocked or let down when the time comes.
It is also essential that you review your will every 3 – 5 years to ensure that your wishes are still as you want them. Plus, when there is a major change of circumstances, including marriage, divorce, death of a beneficiary or birth of new ones, then you should update your will as soon as possible so that your wishes can be correctly followed.
Will Writing in London
When you are ready to find will solicitors, get in touch with Pindoria Solicitors to get your final wishes registered. Our team is comprised of talented and experienced people who have the skills needed to help you achieve the will you want. So call us today and arrange your initial appointment.